Find Account page/Transactions Tab, or 

Accounting > Financial > Transaction Adjustment 


If an error is discovered within the cash posting process, a payment can be moved to a different account, either within the same Association, or a different Association, using the Transaction Adjustment page or the Transactions tab. 


There are a few steps to this process. 


  • Part 1 - Setup the Move Payment settings. 


  • Part 2 - Move the payment between Owner accounts. 


  • Part 3 - Transfer the payment receipt to the other Association. (Only required for payments moved to a different Association)


PART 1 Setup Move Payment - Some Setup is required to establish the General Ledger accounts affected when a payment is moved. 


NOTE - Prior to completing the Setup portion of the Move Payment feature, Trans Types need to be set up for both the Charge (removing the payment from the incorrect account) and the Credit (payment applied to the correct account).  CLICK HERE for more information about Trans Types. 


Step 1. Navigate to Accounting > Financial > Association GL. 


Step 2. Choose the Association from the Association dropdown menu.


Step 3. Click on the Pencil icon to open up the Edit window for the Association.



Step 4. Complete the Move Payment portion of this page.


  • Charge Trans Type- Select the correct Trans Type to appear on the account from which the payment is removed.  

  • Credit Trans Type- Select the correct Trans Type to appear on the account to which the payment is moved to. 

  • Revenue Clearing GL- Select the correct General Ledger from the drop down menu. 

  • Due to Liability GL- Select the correct General Ledger from the drop down menu. (Required for payments moved to a different Association)

  • Due from Receivable GL- Select the correct General Ledger from the drop down menu.  (Required for payments moved to a different Association)



Step 2. Click the Save button to finalize the changes.



PART 2  Move the Payment Between Owner Accounts


Step 1. Navigate to Activities > Find Account, or use the Account Search window on your Dashboard to locate the Account where the payment was posted.


Step 2. Select the Transactions tab to locate the payment you want to move.



Step 3. Right click the line for the payment you need to move. Then select Move Payment from the dropdown menu.


 


Step 4. Proceed to Move Payment (instructions below).


OR


Step 1. Navigate to Accounting > Financial > Transaction Adjustment.


Step 2. Use the Search filters to locate the transaction you need to move. 


Step 3. Click the Move Payment hyperlink.



Step 4. Complete the information in the Move Payment window.


  • To Association- Select the correct “To” Association from the drop down menu. 

  • NOTE- When selecting a different “To” Association, the receiving Association must be set up. 

  • To Account- Select the Account you are moving the payment to.

  • Amount- Enter the Amount to be moved. You can move all or part of the original payment. 

  • Trans Date- Enter the date you want the transaction to post to the account. 



Step 2. Review the Distribution section and make corrections if necessary. The Distribution section lists the GL Accounts associated with the payment. To make a correction, use the down arrow in the GL Account column to locate the correct account. 

 


Step 3. Click the Save button to finalize the move.



PART 3  Transfer Funds


This step is only required when moving a payment to a different Association. Once the payment has been moved to the correct account, the final step is to transfer the Cash Receipt to the correct Association. This can be done a number of ways. 


  • Check- Selecting this option will initiate a check payable to the receiving account. Enter the name of the receiving account in a Payee Name field below. 

NOTE- After completing this step, the check will need to be generated in order to complete the transfer.

  • ACH- This option will generate a NACHA file that can be sent to your bank to initiate the transfer of funds. A NACHA file is a set of instructions that triggers a batch of ACH payments as soon as it is uploaded into a bank portal. 

NOTE- Not all Banks support this transfer method. Contact your Bank to make sure this option is available to you.

  • Transfer- This option can be used if BOTH bank accounts are set up with an Integrated Bank. 


CLICK HERE for more information on how to initiate the above options.