Overview
To demonstrate how to set up and use a receivables ledger in Resware.
Set up a Bank Account
Admin/Accounting/Bank Accounts
- Click Add
- Fill out the appropriate bank information. The Name, Routing Number, Account Number, and Current Check Number are required fields.
- Click Save.
Set up a Receivables Ledger & Tie It to the Bank Account
Admin/Accounting/Ledgers
- Select the correct Office, if there is more than one office.
- Click Add.
- Enter a Name for the ledger.
- Select the Bank Account from the drop-down menu.
- Select Receivables as the Ledger Type.
- In the Set as Default for Counties section, select the appropriate state and check the Enabled boxes for the desired counties. If this will be the only receivables ledger and should be set as the default ledger on all files, click the blue Enable link to set this ledger as the default ledger in all counties in all states.
- The Left Header, Right Header, and Footer sections can be utilized to include additional information on invoices using this ledger.
Add Accounting Codes (If Exporting to a 3rd Party Accounting System)
Admin/Accounting/Accounting Codes
- Click Add.
- Enter the Name of the accounting code.
- Enter the Code.
- Click Save.
Add Transaction Types to Use on the Receivables Ledger
Admin/Accounting/Transaction Types
- Select the Office, if there are multiple offices in the system.
- Select the Ledger created in the second step.
- File Transactions are transactions that are available for use on files. Non-File Transactions are transactions available for use in Accounting/Non-File Transactions.
- Click Add.
- Enter a Name. This will be displayed on the invoice.
- In the HUD Lines section, click Add.
- If a HUD line is selected, any fee set on the selected HUD line in the Settlement area on the file will be mapped to this transaction type if the Get Fees from Settlement button on the Receivables panel is used.
- Select the appropriate HUD line from the list of HUD lines that exist in the system and click Add.
- If using accounting codes, click Add in the Accounting Codes section.
- Select the appropriate code(s) and click Add.
- To set an accounting code as the default code for the transaction type, check the Default box. If there is not a default code set, users will have to select a code from a drop-down for a code to be used.
- Select the desired options on the Edit Transaction Type panel.
- Include Property Address will display the property address from the file on the invoice when the transaction type is selected.
- Show Discount Amount Field will display a Discount field when the item is selected. Values entered in the Discount field will be used to offset the total.
- Taxable will
- Require an Accounting Code to Invoice Items of this Type will force a user to have an accounting code selected each time this transaction type is added to the Receivables panel of a file.
- Click Save.
Adding Receivables Items to a File on an Item-By-Item Basis
File/Receivables
- Click New.
- Select an Invoice Partner, Type, and Amount.
- Check Include Property Address to use the property address in the Memo field. This can be defaulted to checked in Admin/Accounting/Transaction Types/Edit Transaction Type.
- Select an Accounting Code from the dropdown (optional). This can be required and defaulted in Admin/Accounting/Transaction Types/Edit Transaction Type.
- Click Save.
- Repeat for all of the transaction types that should be invoiced for the file.
Adding receivables items from Settlement/Title Charges, Settlement/Additional Charges, Receivables, Settlement/Recording Fees, Settlement/Commissions, Settlement/New Loans, and Settlement/Deposits, Credits, Debits
- Click Get Fees From Settlement.
- Select Yes when the Add settlement fees? prompt appears.
- Select a partner on the Partner to Invoice panel.
- Click Select.
- Any receivable item that has a HUD line mapping in Admin/Accounting/Transaction Types and has a charge on the mapped HUD line in the file will be added to Receivables.
- An item can be deleted from Receivables by highlighting an item and clicking Delete. Receivables items can be retrieved from Settlement as many times as necessary.
Auto-Adding Receivable Items to Files When Adding a Partner or by Action Affect
Admin/Partners
- Edit the partner who will have the fee and click Ledger Fees.
- Select the Partner Type, Office, and Ledger.
- Select the Partner Specific radio button.
- Choose the appropriate Product, if the receivable is product-specific, or leave it on the Default product if the fee should be the same for all products.
- Select a State, if the fee is state-specific, or leave it on the Default state if the fee should be the same for all states.
- Highlight the fee and enter the dollar amount in the Amount column.
- Click Save.
By default, fees are added to the file when an action affect is fired.
Admin/Action Lists/Action Groups/Edit Actions/Edit Affects
- Add an affect on the start or complete of the action that will cause the fee(s) to be added.
- In box 9-Marking Done Adds Non-Settlement Ledger Fees, select the Ledger Type and Partner Type. If all partners on the file should have their fees added at the same time, select All instead of a specific partner type.
There is an office option to add partner fees when the partner is added to the file.
- If you would prefer to add default partner fees to a file as soon as a partner with fees is added to the file, enable the office option for Ledgers: Populate Non-Settlement Ledger Fees When Partner Added to File.
Creating an Estimated Invoice
File/Receivables
- Click Estimated Invoice
Creating an Invoice
File/Receivables
- Click Go to Invoicing.
NOTE: Invoices can also be accessed by Accounting/Invoicing, but they will not be automatically filtered by the file number.
- Select the transactee on the invoice from the Partner drop-down. This will be the transactee on Receivables.
- Highlight all the Invoiceable Items that should be on the invoice and click Create Invoice.
- Multiple lines can be selected by using holding the Ctrl or Shift key while clicking on the lines.
- Once items have been assigned to an invoice, the invoice will be displayed in the Invoices section of the panel.
- To view the invoice, select Print Portrait or Print Landscape.
Deleting an Invoice
Accounting/Invoices
- Highlight the invoice and click Delete.
- When an invoice is deleted, the transactions on Receivables of the file remain and are available for editing or to place on another invoice.
- When an invoice is deleted, there is no indication on Receivables of the file that it was ever created and a search for the invoice number in Accounting/Invoices will not return any results. History of the deleted invoice, including the invoice number, is displayed in the file’s audit trail.
Voiding an Invoice
Accounting/Invoices
- Highlight the invoice and click Void.
- When an invoice is voided, the transactions on Receivables will remain and be available for editing or to place on another invoice.
- When an invoice is voided, the details of the voided invoice are displayed on Receivables of the file and a search for the invoice number in Accounting/Invoices will return the voided invoice. History of the voided invoice is displayed in the file’s audit trail.
Adding an Adjustment to an Invoice
Accounting/Invoices
- Highlight the invoice and click Adjustment.
- Enter the Type (either Credit Memo or Debit Memo) and the Amount.
- The Received date will default to the current date and the Invoice Partner will default to the transactee on the invoice.
- The Memo and Accounting Code fields are optional.
- Click Save.
- Highlight the entry to which the adjustment should be applied and enter the amount in the Partial Amount column.
- The Amount Remaining will change to display the difference between the adjustment amount and the amount already applied to the invoice.
- Check the Credit in Full box if the adjustment is meant to completely credit the invoiced amount for the entry.
- Toggle Paid will check the Credit in Full box for the highlighted line.
- Auto-Allocate will automatically allocate the amount to items until the full adjustment has been used. This may result in a transaction being partially credited or debited.
- Once the Amount Remaining is zero, click Save.
Receiving Payment on an Invoice
Accounting/Invoices
- Highlight the invoice and click Receive Payment.
- Enter a Payment Amount, Received Date, and Method.
- Entering a Check Number is optional.
- Click Save.
- If the Payment Amount is less than the amount of the invoice, the Make Payment panel will allow you to allocate the payment the appropriate transactions.
- Auto-Allocate will automatically allocate the amount to the transactions until the full amount of the payment has been used. This may result in a transaction being partially paid.
- Payments can be manually allocated by checking the Paid in Full box or by entering an amount in the Partial Amount box.
- Once payment is allocated, click Save.
- Payment amounts will be displayed in Accounting/Invoices and on the Receivables panel.
