This chapter contains these topics:
The fee and interest process lets you work with any situation in which an A/R amount is increased by either a rate or fixed amount such as a late fee, interest on a security deposit, or overhead cost. The process is based on tables of charges, interest rates, and calculation patterns.
The only difference between fees and interest is whether the A/R amounts are positive or negative. For a fee, the system searches for an open amount in the A/R Account Ledger file (F0311) that is positive, such as an unpaid recurring bill. This is the base debit amount for which the charge (a debit) is calculated and added.
For interest, the system searches in the A/R Account Ledger file for an open amount that is negative (a credit), such as unapplied cash. The interest rate is applied to it for additional credit.
Before you begin the fee and interest process, set up the following information:
Real Estate Management constants
Facility, tenant, and lease information
Fee types and other user defined codes
General accounting and accounts receivable constants
Object and subsidiary accounts in the G/L chart of accounts
Bill codes with their automatic accounting instructions (AAIs)
This process involves the following tasks:
Set up the fee and interest tables.
Generate the fees or interest.
Review, post, and print the transactions.
This screen lets you set up and work with the charges, interest rates, and calculation patterns. This information is stored in the A/R Fee Interest file (F1525) and controls the generation of the fees. The fee type is a user defined code (system 15, type FY) and is kept in the User Defined Codes file (F0005).
The Fee and Interest Generation program lets you generate fees or interest amounts against A/R invoices. It is based on the A/R Account Ledger file and is controlled by the fee tables in the A/R Fee Interest file. Note that the generation type for fees and interest is 5. A processing option controls whether the system creates a batch of invoices or only prints a report so you can preview the information to be processed.
After you have created the billings, the process is similar to the process for manual billings. For more information about the following programs, see the related chapters in Part III, "Manual Billing" in of this guide.
This screen, which is the first level of detail in the review process, lets you review and approve batches of transactions for posting. Except for the title, the screen is identical to the Manual Billing Journal Review screen. In fact, all the screens in the invoice journal review process for fees and interest are identical to the ones for manual billings. They display and update information in the Batch Control Records and Tenant/Lease Billings Detail file (F0011 and F1511, respectively).
Note the following:
Processing option 1 must be set to generation type 5 to review batches of invoices for fees and interest.
You can require a manual review for an invoice after it has been generated. This requirement is controlled by the Manual Rev Reqd field in the fold area of the Billings Detail Modifications screen, which is the third level in the review process.
From the Billings Detail Modifications screen, you can access the Extended Invoice Text screen to set up and work with free-form text for a billing.
The system initially assigns a status of Error to all batches of invoices in the Tenant/Lease Billings Detail file. When you run Print Billing Edit/Register for a batch, the system verifies the invoices against other system information and changes the status of the batch to either Pending or Approved. The status to which it changes depends on how the Manager Approval of Input field is set in the General Constants file (F0009). If an error exists or if a manual review is required for a document, the batch retains a status of Error. The system also prints a report that can include a list of the transactions, total amounts, errors, and warnings.
Note:
Unlike other billing generation programs, the Fee and Interest Generation program cannot automatically run the billing edit/register. Therefore, it must be manually run before you can proceed with the post.For invoices related to fees and interest in the Real Estate Management system, the version of the post program does the following:
Runs a DREAM Writer version of G/L Transaction Generation (P15199), which creates the A/R and G/L transactions. At this time, it also marks the documents as posted in the Tenant/Lease Billings Detail file and updates the Billings Detail History file (F1511H).
Selects unposted invoices from the G/L Account Ledger file (F0911).
Verifies the information in each transaction.
Posts the transactions to the G/L Account Balances file (F0902).
Marks the transactions as posted in the following files: G/L Account Ledger, A/R Account Ledger, and Batch Control Records. The posted codes in the three files are P, D, and D, respectively.
Creates and posts the automatic offsets to accounts receivable.
You must set up the Batch Type Selection processing option for tenant A/R invoices (batch type 2).
Note:
With fees and interest, you cannot process tenant A/P vouchers, which are batch type / (forward slash).You use the Print Invoices program to print an invoice that includes information created during the fee and interest process.
The review, post, and print process for adjustments is related to transactions for compounding interest. Such transactions are adjustments made to invoices through the cash receipts module in the Accounts Receivable system. This is necessary so that the updates are virtually immediate to assure that the compounding calculations are accurate. For more information about the following programs, see the related chapters in this guide.
Except for the title, this screen is identical to the Receipts Journal Review screen. In fact, all the screens in the adjustment journal review process for fees and interest are identical to the ones for cash receipts. They display and update information in the Batch Control Records file and the A/R Account Ledger file.
This report is a traditional journal you can use to proof and balance transactions related to adjustments. Though the report is helpful, the online review process, which begins with the Adjustments Journal Review screen, is quicker and more flexible. However, the report might provide a more workable form for a detailed review of some balancing problems.
For adjustments related to fees and interest in the Real Estate Management system, the version of the post program does the following:
Selects unposted transactions from the A/R Account Ledger file.
Verifies the information in each transaction.
Posts the transactions to the G/L Account Balances file.
Marks the transactions as posted in the following files: G/L Account Ledger, A/R Account Ledger, and Batch Control Records. The posted codes in the three files are P, D, and D, respectively.
Creates and posts the automatic offsets to accounts receivable.
Like the receipts version of the post program, you must set up the Batch Type Selection processing option for cash receipts (batch type R).
You use the Print Statements program to print many kinds of customer statements that include posted A/R information such as an account summary, current balance due, aging amounts, and so on. The Print Statements - Enhanced program is an alternative method for printing statements.
To ensure that all the information is current, verify that you have posted all invoices before you print statements.