Question: How do I process a bank return for a payment that was posted to prior to software conversion but needs to be returned/ reflected in Vantaca?
- Add a charge on the owner’s ledger for the amount of the return with a description of Return Payment CK#—, using the date the return was processed. (This should match your bank statement.)
- The type of charge(s) should match where the payment was originally applied. For example, if a payment was received and applied towards the Special Assessment type, then the charge should be added to the Special Assessment type.
- Add any NSF fees or Returned Payment fee if needed by manually adding them using the New Charge feature on the Homeowner's Ledger page.
- Go to the Accounting > Bank Reconciliation page and click Post Expense to return the debit on the bank register to the same GL code as was used for the charge posted to the Homeowner account.
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