This task is used to apply credit balance open items to charge balance open items, such as applying an unapplied payment to a rent receivable open item. This task can only appears in the Tasks list if there is a credit balance in the Open Items section, and will not appear if the only credit balance is a prepaid item.
To apply credits, follow these steps:
1. Go to Household Detail > Accounting Tab.
2. Go to Receivables Tab, and then click Tasks.
3. Select Apply Credits.
4. Click Change Effective Date to modify the date.
Note
The effective date of the Apply Credits event will default to the current date. The effective date can be in the past or as far in the future as the latest date of any open item to be applied. If you are in the Household Accounting Moveout Activity task, the effective date will default to the highest due date to ensure that any credits created from the move-out certification will still be available to apply.
5. Click OK.
6. Select the check boxes in both the Credits and Receivables sections to apply the items as credits.
Note
You must check off equal dollar amounts for both the Credits and Receivables section.
▪ When the credit to be applied is less than the open item balance that it is being applied to, the amount applied to the selected open item will match the credit amount.
▪ As you select credits and open items, and change any of the amounts to apply or to be applied, Property Manager will update the message on the Running Balance, indicating what needs to be done to get the running balance to zero.
▪ When applying credits against a Promissory Note, only whole dollar amounts can be applied against the Promissory Note. The remaining change should be left as unapplied or applied against another open item.
7. Click Finished once you have checked off the equal amounts of credits and outstanding receivables, and the Running Balance is $0.00.
Note
The Apply Credits event now appears in Event History.