ResMan allows you to select the accounting basis and configure the order in which payments are applied to the resident's outstanding charges. Please follow the instructions below to complete the accounting settings.
There is a video at the bottom of the page for your convenience. Fields with an asterisk (*) are required.
This setting will allow you to create a special type of Journal Entry. When running financial reports, you can include or exclude these groups of entries.
Default Accounting Basis
This setting will select the default accounting basis for which reports will be run out of ResMan for that property. Please select from the options given.
Payment Allocation Order
Drag and drop each payment category so that when the resident submits payments, the funds are applied in the correct order.
- "Pay by date only" will apply payments to outstanding charges from oldest to newest by date.
- "Pay by category and then by date" will apply payments by transaction category then go from oldest to newest charge inside of that Transaction Category.
Note: These settings are "global", which means that these settings apply to all properties listed in ResMan. Security rights may be given that will allow the user to manually change how payments are applied. In ResMan, the security settings are located in Admin>Groups.
Once you are done, don't forget to save your work.
NEED MORE HELP? WATCH THIS VIDEO
Video too small? Click the Full Screen link on the lower right of the video!