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Notes Transactions – Adjustment
- Login into Notes Receivable system as a manager.
- Click on Find button, select the note which you want makes adjustment.
- Click on the Adjustment button in Maintenance Screen.
- On click of Adjustment button, Adjustment screen will be displayed.
Adjustment screen contains following fields.
As Of: This field is editable and
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it’s a date control. It will contain minimum date as current date.
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It’s a mandatory field.
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- Notes Receivable system will allow the user to select the future date. If user selects the future date then that transaction will be saved in to the data base but transaction will not be effected to note until the system date reaches to transaction
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- “As Of
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- date”.
Type: This field is non-editable but user has to select the Adjustment type from dropdown. User can perform two types of adjustment.
- Principal: If User is willing do the Principal adjustment for the note then he has to select
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- the type as
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- “Principal”
- Interest: If User is willing do the Interest adjustment for the note then he has to select the type as
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- “Interest”.
Amount: This is editable field. User has to enter amount how much he is willing do the adjustment
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- If User selects Type as "Principal and entered amount is negative then if the entered amount makes current Note Principal as less than zero then following validation message will be displayed.
- If User selects Type as "Interest" and entered amount is negative then if the entered amount makes the last accrued interest as less than zero then following validation message will be displayed.
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- If User selects Type as "Interest" and entered amount is negative then if the entered amount exceeds the current note payoff balance then following validation message will be displayed.
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.
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Comment: This field is not mandatory. User can enter comments for the adjustment. It will accept maximum of 250 characters.
Use Account: This
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is used as the description for the adjustment transaction. It is a mandatory and non-editable but user has to select value from drop down. It contains following options.
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- The adjustment amount will be credit to selected account if the adjustment amount is positive.
- The adjustment amount will be debit to selected account if the adjustment amount is negative
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- .
If user doesn't select any account then following validation message will be displayed.
Show As: Provided a way for Adjustments to be shown in different
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“transaction types” on various reports. User can select an entry from the dropdown, and that particular Adjustment will be shown under that selection but not as
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“Adjustment”.
The different "Show As" texts can be set by clicking the "…" button from the dropdown. It brings up the Shown Adjustment As form, on which the user can create as many different texts as needed.
This field is mandatory, if user doesn't selected then following validation message will be displayed.
- OK button: This button will be enabled if all mandatory fields contain data. On click of ok button data will be effected to selected note if the As of date is current date else it will be effected to note once system date reaches to transaction date.
- Cancel button: This button is used to cancel the Adjustment transaction and return to Maintenance screen. On click of cancel button following validation message will be displayed.
- The drop down options are set up under the Notes Receivable > Show Adjustment As.
If user clicks on the button "Yes" then Adjustment screen will be closed and returned to Maintenance screen.
If user clicks on the button "No" then warning message screen will be closed and Adjustment screen will be displayed.
Integration with General Ledger: when user makes the adjustment then two entries will be inserted into GLIJEMST (Journal Entries) with an adjustment amount.
- If adjustment amount is positive then one record will be debit to
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- “GL Notes Receivable
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- “account which is configured in the Control file settings and another record will Credit to Account number which is selected in
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- the” Use
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- Account” field of Adjustment screen.
- If adjustment amount is negative then one record will be credit to
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- “GL Notes Receivable
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- “account which is configured in the Control file settings and another record will debit to Account number which is selected in
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- the” Use
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- Account” field of Adjustment screen.
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- Login to summit application
- Select /Click General Ledger Menu
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- Select Report and Inquiry Menu
- Select View Account History
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- Enter Account number, Accounting Year, Period (Beginning and ending)
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- Below account number: 11100090 is "Interest Income Account", so payment amount will be credit to this account.
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- Login to summit application
- Select /Click Petrolac Menu
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- Petrolac Dates screen will appear. Click OK.
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- Select End of Period Menu on Petrolac Main Menu screen.
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- Select G/L Distribution Report Menu on End of Period Menu screen.
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- Enter Transaction Date (Beginning and ending) and click on View Report button.
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