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  1. Login into Notes Receivable system as a manager.
  2. Click on Find button, select the note which you want to make the payment.
  3. Click on the Receive Payment button in Maintenance screen.
  4. On click of Receive Payment button, Receive Payment screen will be displayed as below if the Note Type is “Pay Principal First” or “Pay Interest First”.

    If the Note Type is “Scheduled Invoice”, few more fields will be added to the form and it would look like below form.
  5. Receive Payment screen contains following fields 
    1. Customer No: This field is non editable and used to view the customer number for the selected note.
    2. Note Number: This field is non editable and used to view the selected Note number
    3. Note Type: This field is non editable and used to view the Note type of Selected note.
    4. Notes Payoff Balance:  This field is non editable and used to view the latest Payoff Balance for the selected note.
    5. Location: Default Location Number for the customer will be assigned to the Location field on the load of Receive Payment screen. This field is mandatory, and it’s editable field.

      If User doesn't enter Location number following validation message will be displayed.

      The user can modify the location number by clicking on the button (). On click of this button location selection window will be opened with all possible location number which exists for that setup.
    6. Batch Number: Default Batch Number of the customer will be assigned to the Batch Number field on the load of Receive Payment screen. This field is mandatory, and it’s a editable field.

      If User doesn't enter batch number then following validation message will be displayed.

      This field will accept maximum of three digits positive numbers only. 
    7. Payment Type (1-9): This field only accept positive integers starting from 1 to 9. This field is mandatory, and it’s editable field.
      If User doesn't enter Payment Type then following validation message will be displayed.
    8. Check Number:  This field is editable and mandatory field. User has to enter check number for the payment maximum of eight characters.

      If User doesn't enter check number then following validation message will be displayed.
    9. Amount (Pay Principal First or Pay Interest First): This field is editable and mandatory field. User has to enter the payment amount.  Notes Receivable system will allow only positive numbers and it will allow maximum of two decimals. 
      1. If entered amount exceeds the Notes Payoff Balance then following validation message will be displayed.
      2. If user doesn't enter amount then following validation message will be displayed.
    10. Payment For (Scheduled Invoice): This field will give the option to select on what type of Payment is to be done. Below are the options for which user can do the payment.
    11. Expected Payment Amount (Scheduled Invoice): This would be the amount that customer is supposed to pay for that month. This field will display, that months payment by default if it’s not still done. If no payment is applicable for that month or payment already done, it will display 0.

      On click of “…” button  besides amount text area, Payment details list will be displayed.


      This list will contain the payment details for all the pending payment (if applicable). Sum of the Amount is what would appear in the Expected Payment Amount field.

    12. Late Payment Charges(Scheduled Invoice):  If user has not paid any previous payments and crossed the grace period, late fees will be applied on the payment based on the settings done while creating a Note.
      Late payment amount will be displayed as default if applicable. If not late charges are applicable, 0 will be displayed.
      Similar to “Expected Payment Amount”, on click of “…” button  besides amount text area, same Payment details list will be displayed which also contains late fee details.

    13. Button Ok: This button will be enabled if all mandatory fields contain data. On click of ok button data will stored into database and entered amount will be deducted from current Pay off Balance.
    14. Button Cancel: This button is used to cancel the receive payment transaction and return to Maintenance screen.  On click of cancel button following validation message will be displayed.

      If user clicks on the button “Yes” then Receive Payment screen will be closed and returned to Maintenance screen.
      If user clicks on the button “No” then warning message screen will be closed and Receive Payment screen will be displayed.

 

 

 

Integration with General Ledger:

When user makes the payment then two entries will be inserted into GLIJEMST (Journal Entries) with a payment amount.  One record will be credit to “GL Notes Receivable “account which is configured in the Control file settings and another record will debit to “General Ledger cash Account”.

  1. Login to summit application.
  2. Select /Click General Ledger Menu
  3. Select Report and Inquiry Menu
  4. Select View Account History
  5. Enter Account number, Accounting Year, Period (Beginning and ending)
    Below report will give the required details
  6. To view Note creation details, select the record and double click.
    1. Example: Below account Number: 11200010 is Cash Account, so payment amount will debit to this account.

      Double click on the record.
    2. Below account number: 11100001 is “Notes Receivables Account”, so payment amount will be credit to this account.

      Double click on the record

 

OR

 

  1. Login to summit application
  2. Select /Click Petrolac Menu
  3. Petrolac Dates screen will appear. Click OK.
  4. Select End of Period Menu on Petrolac Main Menu screen.
  5. Select G/L Distribution Report Menu on End of Period Menu screen.
  6. Enter Transaction Date (Beginning and ending) and click on View Report button.

  7. Below report will give the required details

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