Disbursement Tab Tasks Refund Interest on Deposit
This task is used to refund Interest on Deposit balances on hand to all tenants in a community or in all communities that you are authorized to see.
This task will create a pending General Ledger entry to debit the Security Deposit Liability account and credit Tenant Refund Payable, but will not actually cut checks to the individuals, you will still need to do that in your accounting software.
Bostonpost Financials, MRI Web Service and QuickBooks customers can enable this process to create Tenant A/P Invoices directly to your accounts payable system. When the Tenant Payable Interface is enabled at System Administration > Accounting Setup - Export Information Setup, no GL Entries are created directly. Instead an Accounts Payable Invoice is created and loaded to your accounts payable application.
The Deposit charge types must be set up with all appropriate GL accounts.
Accounting Detail Disbursement Tab Tasks Refund Interest on Deposit
Enter the Effective Date for the refund - this will be the effective date of the GL entry that is created as well as the event date for the Refund Credit events in Event History in each of the households.
Use the Select All and Deselect All links to make selections on which Interest on Deposit amounts to refund. You can also select and deselect each row individual by clicking the check box at the beginning of each row.
If you are a Bostonpost Financials, MRI (using the MRI Web Services export type) and QuickBooks Customer and have enabled the Auto Create AP Vendors under System Administration > Maintain Lookup Tables - Business Constants, Vendors will be automatically created in Bostonpost Financials Accounts Payable for those vendors
If you are a Bostonpost Financials, MRI (using the MRI Web Services export type) or QuickBooks Customer and have not enabled the Auto Create AP Vendors, you will not be able complete this process until the Tenants have been created as Vendors in your Accounts Payable system and those Vendor IDs have been added to these Households in Property Manager.
Click Next.
An Overall Status window will pop up with a Passed or Failed message.
If it failed you may need to make a correction or contact Bostonpost Client Support at myMRI or contact a Client Support Analyst directly at (877) 579-8896 for assistance.
If it passed click Close
You will have the option to print a Refund Interest on Deposit Report. To do this check the box next to the document name and specify the number of copies you want.
Click Finished to send the report to your printer.
Maintain Refund Credit Payment Information
Maintain Export Vendor ID - Accounting Detail > Disbursement Tab