Reversal Suspense [U0127]

Contents

• Add Reversal Suspense
• Change Reversal Suspense
• Clear Reversal Suspense via Cashier's Check
• Clear Reversal Suspense via G/L Account

 

Introduction

This update is available when the Cash Control module is purchased. It will allow the user to add, change, and clear Reversal Suspense items. The Reversal Suspense items are automatically created via the Batch Payment Reversals. All funds will be reversed and debited in the Reversal Suspense general ledger account all credits will be applied to the cash and clearing account of the G/L. Once a suspense item is reversed, it can not go back to daily sessions.

The Reversal Suspense Review Report [R0207] will display all Reversal transactions made via the Reversal Suspense [U0127] update.

 

This screen allows the user to select the Reversal Suspense option. Add, Change, Clear Via Cashiers Check and Clear Via G/L Account.

• ADD
  This option adds an item to the Suspense (RSU) file.
  
  
• CHANGE
  This option changes the information for a suspense item.
  
  
• CLEAR VIA G/L ACCOUNT
  This option removes an item from suspense by moving the remaining balance to the general ledger account specified.
  
  
• CLEAR VIA CASHIER’S CHECK
  This option removes an item from suspense by writing a cashiers check for the amount of the item.

 

Add Reversal Suspense

This screen allows the user to Add a Reversal Suspense item.

• SUSPENSE ITEM
  The number assigned to this suspense item is displayed when an AMOUNT is entered.

• AMOUNT
  Enter the amount of the suspense item.

• COMMENTS
  Enter any comments for the suspense item.

• PORT/COMP/REGN/OFFIC
  PORTFOLIO, COMPANY, REGION, and OFFICE must be entered.

• LEASE
  Enter the lease number for the suspense item, if known.

• BANK CODE
  This field will appear if the Multiple Banks module has been purchased. It allows the user to specify which bank has received the cash. The default bank code is 125; valid entries are 1 or 125-144.Press ‘HELP’

  Click on Help arrow for a list of valid bank codes.

• CHECK NUMBER
  Enter the check number for the suspense item.

• REVERSAL REASON
  Enter the reversal reason code for the suspense item.

• BATCH NUMBER
  Enter the batch number for the suspense item, use the Help menu for a list of valid batch numbers.

 

Change Reversal Suspense

This screen allows the user to change the Reversal Suspense item.

• REVERSAL SUSPENSE ITEM
  Enter the reversal suspense item to be changed.

• AMOUNT
  Change the amount of the suspense item.

• COMMENTS
  Change any comments for the suspense item.

• PORT/COMP/REGN/OFFIC
  Change the PORTFOLIO, COMPANY, REGION, and OFFICE.

• LEASE
  Change the lease number for the suspense item, if known.
  
  
• BANK CODE
  This field will appear if the Multiple Banks module has been purchased. It allows the user to specify which bank has received the cash. The default bank code is 125; valid entries are 1 or 125-144.Press ‘HELP’

  Click on Help arrow for a list of valid bank codes.

• CHECK NUMBER
  Change the check number for the suspense item.

• REVERSAL REASON
  Change the reversal reason code for the suspense item.

• BATCH NUMBER
  Change the batch number for the suspense item, use the Help menu for a list of valid batch numbers.

 

Clear Reversal Suspense via Cashier's Check

This screen is used to Reverse the Suspense item via Cashiers Check.

• AMOUNT
  The original amount of the suspense item is displayed.
  
  
• REMAINING BALANCE
  The portion remaining in suspense is displayed. The entire REMAINING BALANCE will be cleared.
  
  
• REFERENCE
  Change, if desired, the comment or reference for the suspense item. REFERENCE appears on the check stub if LeasePak produces the formatted cashiers check, the Cashiers Check Listing report [R0205], and the Suspense Review report [R0203].

• DISBURSEMENT DATE
  Enter the date of disbursement in in MM/DD/YY or DD/MM/YY format, depending on the Date Format Preference field in Security [U0706]. The check will be created on this date. It cannot be in the past.

• PORT/COMP/REGN/OFFIC
  The portfolio, company, region and office numbers of the suspense item are displayed.

• LEASE
  Change the lease number, if desired. If a lease is entered, the lessee’s name and address are displayed as the payee name and address and may not be changed. If the lessee is tied to a customer, the customer’s name and address are displayed in place of the lessee’s.

• PAYEE NAME
  Enter or change the name of the recipient of the check. If a lease is entered, this field may not be accessed.

• ADDRESS 1
  Enter or change the first address line of the payee. If a lease is entered, this field may not be accessed.

• ADDRESS 2
  Enter or change the second address line of the payee, if any. If a lease is entered, this field may not be accessed.

• CITY
  Enter or change the city of the payee. If a lease is entered, this field may not be accessed.

• STATE
  Enter or change the state of the payee. STATE must be a valid post office abbreviation. If a lease is entered, this field may not be accessed.

  Note: For locations where states do not exist, a "free form" code of FF may be entered. When addresses using FF are printed on invoices or reports, the state is blank.

• ZIP
  Enter or change the ZIP code of the payee.

  For U.S. use 5 or 9 digits

  For Canada use 6 characters (alternating letters and numbers)

  For Mexico use 5 digits

For other locations any entry is accepted, or field may be blank

• BANK CODE
  This field will appear if the Multiple Banks module has been purchased. It allows the user to specify from which bank the cash should be disbursed. The default bank code is 126 and valid entries are 1 or 125-144. If checks have already been disbursed using this suspense item, the bank code used during the previous disbursal will be displayed.

  Click on the Help arrow for a list of valid bank codes.

• IS THIS THE CORRECT SUSPENSE ITEM TO CLEAR (Y/N)?
  Enter Y to clear the suspense item by writing a cashiers check. Enter N to leave the item in suspense.

Clear Reversal Suspense via G/L Account

This screen is used to reverse the suspense amount via a G/L account.

• REVERSAL SUSPENSE ITEM
  Enter the reversal suspense item to be cleared via G/L account.

• ORIGINAL AMOUNT
  The original amount of the suspense item is displayed.

• REMAINING BALANCE
  The portion of the original suspense amount remaining in suspense is displayed. The entire REMAINING BALANCE will be cleared.

• PORT/COMP/REGN/OFFIC
  The portfolio/company/region and office numbers of the suspense item are displayed.

• LEASE
  The lease number, if any, of the suspense item is displayed.
  
  
• G/L ACCOUNT
  Enter the general ledger account which should be used to clear the suspense item. Click on the Help arrow for a list of valid general ledger accounts.
  
  
• REFERENCE
  Change the comments or reference for the suspense item, if desired. Comments appear on the Suspense Review [R0203].

• IS THIS THE CORRECT SUSPENSE ITEM TO CLEAR (Y/N)?
  Enter Y to clear the suspense item to a general ledger account. Enter N to leave the item in suspense.

 

LeasePak  Reference Guide

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