Page History

1. From the Notes Receivable Activities menu, click Note Maintenance. If there's an existing Note record, Search Note screen will open. Otherwise, Notes Receivable screen will open automatically.
2. If Search Note screen opens, click on New button to open blank Notes Receivable screen.
   Image AddedLogin into Notes Receivable application as Note Manager. Only Note Manager can create the new notes.
   Image Removed
   

   If the user opens existing notes then click on the new button on the Left side corner of Maintenance form.

   After clicking on the New Button, the fields in Maintenance screen will be cleared.
3. Customer No: Select Customer No by clicking the button () on combo box button on Customer No textbox, customer selection window will combo box list will be opened. Double click on the required customer.
   Image RemovedImage Added
   

   Alternatively, user can enter the valid customer number in Customer No textbox.

   Press Tab /Enter, then entered customer number is valid then focus will be moved to Note number textbox.
   Image Removed
   If the entered customer number is not valid then following warning message will be displayed.
   Image RemovedImage Added
4. Note Number:  Note   Click on the # button, Note number will be auto-generated number based on the Note prefix mentioned in control file Starting Numbers.
   Image Added
   Image RemovedImage Added
   
   1. Pattern of Note Number: Note Prefix + Last Note number(i.e. 000011)+1
      Example:  Note Prefix: NR(non editable), Last Note number: 00001 1 then New note number: NR00002NR-2

   2. User canspecify new number, but user cannot create a note which already exists in NR system.
      Example: Note Number: NR00100 is NR-19 belongs to another customer. If the user try to create a note with the note number NR00100 NR-19 for different/same customer then on click of save button, system will display “Note is already exist” message.

5. Note Type: User has to select Select one of the notes Type. NR is having 3 Different different Note Type.
   Image RemovedImage Added
   

   1. Pay Principal First - Principal amount will be paid first if selected.

   2. Pay Interest First – Interest amount will be paid first if selected.
   3. Schedule Invoice  - If selected “Schedule” part will be enabled and user can schedule payments.
6. Note Description:  User has to select Select the Description of notes by clicking drop-down ()combo box button. User can define his own Note Types by clicking on the Image Addedbutton (), then Note Type creation Description creation window will be opened.
   1. Enter value in Type and Description fields (Highlighted in following image) click on the save button.
      Image RemovedUser enters Description in Notes Types window, but user didn’t enter Type then following warning message will be displayed, because Type field is mandatory. And Description field is not mandatory.
   2. After clicking on the save button following message will be displayed.
      Image Removed
   3. To use the selected Note Type from the list, double click on the smart tag () of required note type record.
   4. If user didn't select any Note Type from drop-down the warning message will be displayed.field or double click on the note description record from the combo list.
      Image Added
7. Note Credit Limit: Enter credit limit for the note. If User don’t enter credit limit the following warning message will be displayed. Note Credit Limit field is mandatory.
   Image Removed
8. Note Maturity: Enter/Select Note Maturity for the note. The date cannot be less than the current date.
9. Write-off: If the User checks the Write-off check box () then box then that particular note cannot be calculated the Interest and for the that particular note , user can perform adjustments only.If the note is non Write-off note i.e. Write-off check box is unchecked, then user can check the checkbox and make the note as Write-off note. Once the user make the note as Write-off note (checks the check box) then user cannot uncheck the check box.
10. Calculations:
    1. Interest Rate: Enter Interest Rate for the note between 0 to 100. If out of this range, following.
       
       1. Interest Rate cannot be 0.00%.
          Image Removed
       2. Interest Rate cannot be negative value.
          Image Removed
       3. Interest Rate cannot exceed 100%
          Image Removed
11. Schedule: 

    1. If Note Type is “Schedule Invoice” User has to enter details in Schedule Box.
       Image RemovedImage Added

    2. Description:  User needs to enter Description for his scheduled payments.
    3. Frequency: User needs to set in frequency you want to make your payment for any amount. User can set Day, Month and Payment amount here.
    4. From Date: User needs to set start date for his payments.
    5. TillTo Date: User needs to set End date for his payments.
    6. Late Fee: User needs to enter late fee amount and currency here. It will be charged to customer in case of late payment. Late fee can be set in $ or % on Principal/Interest/Balance. 
    7. Grace Period: User needs to set Grace Period here.
12. UCC details: User can enter UCC Details if required in following box.
    User need to set start date for his payments.
    Image RemovedImage Added
13. Click on save button, Note will be created successfully if all required fields are contains value.Image Removed
14. Once note is saved successfully, that note creation date, note fee, user id (who created the note) information will be displayed in the Fee Tab of “Note History” Grid in Maintenance screen.
    Image Removed

Integration with General Ledger:

When user creates a new note two entries will be inserted into Journal Entries in summit application with a fee amount.  One record will be credit to “GL Interest Income “account and another entry will be debit to the “GL Notes Receivable “account which are configured in the Control file settings.

Image Removed

User can verify the entries in Origin application by following the below steps:

1. Login to summit application
   Image Removed
2. Select /Click General Ledger Menu
   Image Removed
3. Select Report and Inquiry Menu
   Image Removed
4. Select View Account History
   Image Removed
5. Enter Account number, Accounting Year, Period (Beginning and ending)
   Below report will give the required details
   Image RemovedImage Added