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How does the "Payment-Deposit Correction" option work?


The video is at the bottom of the page.

Instruction

When you have entered an escrow deposit as a regular rent payment or a regular rent payment as an escrow deposit, there is an easy way to fix this in ResMan!

1.  Call up the Resident in "Quick Search"

2.  In the Resident Portal, on the left-hand menu, under Quick Links, select Payment-Deposit Correction

P-D.JPG
 

3.  Enter the Date (if it is in the same month as the error, choose the same date)

4.  Type:

  • If you entered a Deposit incorrectly choose: Payment to Deposit
  • If you entered a Payment incorrectly choose Deposit to Payment

5.  If a Deposit, choose the category

6.  Enter the amount that needs to be recorded as a Deposit

7.  Enter any notes to explain

8.  Save

NOTE: This transfer affects the Resident Ledger only.
There are no changes to the General Ledger or the Bank Account balances.
It is possible that you might have to correct the General Ledger and/or the Bank Account balances manually

 

NOTE: You can only transfer Payments if they have not been applied to a charge (and are sitting as a Prepaid Balance). 
If you have already applied the payment to charges:

1.  Reverse the payment (use the original date)

2.  Enter a new transaction and record it correctly (using the original date). Then post the batch 


NEED MORE HELP? WATCH THIS VIDEO


Video too small? Click the Full Screen link on the lower right of the video!

 

Permissions and Settings

To use the payment-deposit correction option you need permission. To check permissions, go to Admin > User >  (Select User) > Change Permissions > Transactions > Payment-Deposit Correction.

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