Credit Balance Control Accounts RecTrac 10.3

Transcription

1 Credit Balance Control Accounts RecTrac 10.3 WHAT IS THE CONTROL ACCOUNT AND HOW DOES IT WORK?...1 SUMMARY...1 MULTIPLE CONTROL ACCOUNTS...1 CREDIT BALANCE CONTROL HISTORY TABLE...2 SETUP FOR DEFAULT CONTROL ACCOUNT INFORMATION...2 SETUP FOR DRAWER CONTROL ACCOUNT INFORMATION...2 SETUP FOR BILL CODE CONTROL ACCOUNT INFORMATION...2 SETUP FOR TRAN CODE CONTROL ACCOUNT INFORMATION...3 CONTROL ACCOUNT HIERARCHY...3 HOW IS THE CONTROL ACCOUNT USED IN RECTRAC?...3 Vermont Systems, Inc. 01/11/13 i

2 RecTrac 10.3 Credit Balance Control Accounts 2013 by Vermont Systems, Inc. This document is the property of Vermont Systems, Inc. and is provided in conjunction with software by means of a licensed contract agreement between the customer and VSI. The document(s) and software referred to in this publication may not be copied, distributed, electronically transmitted, posted on the web or altered in any way without the express written consent of Vermont Systems, Incorporated. The information contained in this document is subject to change without notice. Vermont Systems, Inc. 12 Market Place Essex Junction, VT ii 01/11/13 Vermont Systems, Inc.

3 Credit Balance Control Accounts RecTrac 10.3 What is the Control Account and How Does it Work? Summary A control account is a holding or suspense account, or you may also think of this account as an Accounts Payable account. In RecTrac, we use this term to refer to the Credit Balance Control Account where monies are held pending some further action they are funds waiting to be refunded or applied to a future fee. Using control accounts allow RecTrac customers to "Refund Apply." This means that refund money stays on account for future use in the same or other modules. Balances in a RecTrac Credit Balance Control account are recognizable as household credit balances. With the RecTrac financial reports, you have a complete audit trail of all entries into and out of the control account(s). Credits to the control account occur if a payment is made without an offsetting fee amount due, or if a cancellation refund is processed and applied to the household balance. They also occur if refunds are processed and the check is to be written later (either by RecTrac or a Finance department). In this case, the balance of the RecTrac Credit Balance Control account equals or acts as a control amount over checks that are pending. The RecTrac Refund Report lists all such pending checks. Setting up at least one control account in RecTrac is necessary for the system to work properly (meaning your finance office MUST have at least one RecTrac control account for the recreation department as well); however, you can also have multiple control account G/Ls and Cost Centers. This does NOT mean you can have a Credit and a Debit balance within the same module. You can only have ONE module balance at any given time and this can only be a Credit balance, Debit balance or $0.00 balance. For example, if you have prepaid childcare credits in a specific control account fund and you then installment bill (not ACH or CC Auto Debit), or sign up for a class that might be a completely different fund, you cannot leave a balance due on this the credit that is sitting in the module control account, regardless of the fund it's associated to, will be used to pay off the new installment bill or charges for the new class. Using Multiple Control Account GL Records RecTrac provides one (1) and only one (1) true Control Account only. However, you can use different GL Accounts and Cost Centers (Cost Centers are optional) to create separate Control Account areas within your database. For example: You might create GL Account for Recreation Office Payable/Control Account and GL for the Aquatics Center Payable/Control Account. GL Accounts created for this purpose can be linked at the Drawer device level, at the Bill Code/Tran Code level or both. IF setting up specific control account GLs and Cost Centers for unique locations, VSI recommends linking the location-unique GL Accounts to the appropriate DRAWER devices for all users at those locations. Additionally, if you would like even more specific control accounts, you could create additional control account GL accounts and Cost Centers and link them to the appropriate Bill Codes and/or Tran Codes. As cancellations and "Refund Applies" are processed, if the bill/tran code that the refund is coming from has a specific control account linked to it, then it will use these for the credit. If bill/tran code control account fields are left blank, then the system will look to the user s DRAWER device for the control account information.if the drawer device s control account information is left blank, the system then falls back to the Static Parameter's Control Account information. See Setup steps below. Note: When over payments are made to create a credit, the system will first look at the user's drawer device control account information and if filled in it will use this GL and Cost Center information. If these are left blank it will fall back to using the Static Parameter information. Debits will always come out of the GL and Cost Center that is specified on the control account history record(s). Vermont Systems, Inc. 01/11/13 1

4 RecTrac 10.3 Credit Balance Control Accounts Also important to note: In the event a patron has credits within the same module but in different control accounts, you cannot pick and choose the control account history record that will debited when the credit is used. As a general rule, multiple credits within a module that are in different control accounts will be used in chronological order newest to oldest when a credit is applied toward a service. For Example: Joan Smith has an existing credit in Control Account A from an activity she took in Summer In March 2010, she signs up and pays full price for a Boot Camp class. The next day she breaks her arm and cancels the class. The refund gets applied to Control Account B. She now has credit in two accounts. In July when her arm is healed, she signs up for Yoga and opts to use her existing credit as payment. Control Account B will be debited first because that credit is most recent. Credit Balance Control History Table The SACNTRLHIST (Control Account History) table has been created to track Household credits in the system. A record in this table will be created during the 10.3 conversion for any Household with an existing credit. Additional records will be created whenever a transaction is completed that results in a credit to the household or results in use of the credit. A Control Account button also exists within the Household Inquiry program which allows users to view a Household s Credit Balance activity. Important notes about this table: 1. Creation of this table means the removal of the Initialize Credit Balance to $0 on the Household Balance Recalc utility. A payment transaction will have to be made in the system to eliminate invalid credit balances on households after converting to RecTrac Creation of this table also means the removal of the Keep RR/RF in the Control Acct as a CR? toggle from Static Parameters (effective 10.3d). In RecTrac 10.3, the Control Account will be debited WHENEVER you process a Refund Finance or Refund RecTrac (as if the toggle were off in 10.1 and prior). The Keep RR/RF in the Control Acct option in 10.1 and previous offered customers the option of posting an offsetting DEBIT to the control account on the actual day that they printed their refund checks. As this is no longer applicable, customers who want reconcile the control account s offsetting debits for refunds are advised to run a GL report for control account refund activity making sure to open the date range up to include all days since the last date range period for which checks were printed and include payment codes 97 and 98. This $ total should match the Refund Report totals for RR/RF as well as it should equal the total $ amount of refunds processed during their refund check printing for that same period. Setup for DEFAULT Control Account Information 1 Go to: Files System Parameter Codes Maintenance Static Parameters Maintenance - G/L Info screen. In the Credit Bal Control fields, enter a GL code and cost center code (optional) that points to a control account in your general ledger. This is the default control account for RecTrac, and is used whenever more specific control accounts are not defined. Setup for DRAWER Control Account Information 1 Go to: Files System Device Maintenance Printer/Device Maintenance. 2 Find and highlight the appropriate drawer device, then click Change. 3 In the Control Account fields, enter a GL code and cost center code (optional) that points to a control account in your general ledger. 4 Click Done to save your changes. Setup for BILL CODE Control Account Information 1 Go to: Files System Finance Codes Maintenance Bill Code Maintenance. 2 Find and highlight the appropriate bill code, then click Change. 2 01/11/13 Vermont Systems, Inc.

5 Credit Balance Control Accounts RecTrac In the Control Account fields, enter a GL code and Cost Center code (optional) that points to a control account in your general ledger. 4 If you will be using Lottery Processing for Activity Registrations, go to the Core Information screen of each of your AR type bill codes. In the Lottery Suspense fields, enter a GL code and Cost Center code (optional) that points to a suspense account in your general ledger for this bill code. During a transaction involving this bill code, if a suspense/holding account is needed, the system will look here. If you leave this field blank, the system will look to the control account information. (*Note: In the case of lottery refunds, the system will NOT look to the Refund Account information, instead, the Lottery Suspense account will debited.) Setup for TRAN CODE Control Account Information 1 Go to: Files POS Tran Codes Maintenance. 2 Find and highlight the appropriate tran code, then click Core Info. 3 In the Control Account fields, enter a GL code and Cost Center code (optional) that points to a control account in your general ledger. 4 Click Done to save your changes. Control Account Hierarchy When a transaction is processed in RecTrac that involves the Control Account, RecTrac will: 1 Look to the Bill Code or Tran Code (if POS). If a GL Account/Cost Center is linked to the Control Account field, RecTrac will use that control account. 2 IF Control Account field on the Bill Code/Tran Code is blank, RecTrac will look Drawer device linked t the user processing the transaction. If a GL Account/Cost Center is linked to the Control Account field, RecTrac will use that control account. 3 IF the Control Account field on the Drawer device is blank, RecTrac will use the GL Account linked to the Credit Balance Control account field on the G/L Info screen in Static Parameters. How is the Control Account Used In RecTrac? Funds flow into the control account when: A Household overpayment is made A payment has been reversed but not yet refunded A cancellation or void has occurred but not yet refunded A transfer out of one activity or pass has occurred Fee reduction has occurred but not yet refunded A payment made with no fee having been processed prior Funds flow back out of the control account when: The household overpayment is applied to a new fee or refunded The reversed payment is refunded The proceeds from a cancellation or void are refunded Vermont Systems Inc. 01/11/13 3

6 RecTrac 10.3 Credit Balance Control Accounts The resulting transfer into the new activity or pass has occurred The proceeds from the fee reduction are applied to a new fee or refunded A subsequent fee being processed and the customer chooses to auto-apply the household credit to the new fee 4 01/11/13 Vermont Systems, Inc.