This article provides a general overview of the "Generate Third Party Statements" action item. Please note that your database may include a different action item configuration.
To generate a statement, click the + New Action Item from any screen where this button is available. Next, select the Action Type Generate Third Party Statements. This action item will create statement files for either South Data, Optimal Outsource or BB&T depending on the statement format that you have set on your Association>Settings. Please see below for the action item fields:
- Details: This is not a required field, but is used if sending the statement by email is desired. Subject may be filled out as the email subject line, Description as the body of the email, and Other Email Address if you want to include a different email.
- Dates and Assignment: This field is also not required to run the Generate Paper Statements action item, but can be included to specify dates for the action item itself. Note that the follow-up date and due date are for the action item, not for the statement.
- Attachments: This field can be left blank, as attachments are not needed for this action item. However, attachments can only be added for third party generations in one of two ways:
- By adding the attachments after statements have processed through the API
- By downloading the generation file (as shown in screenshot below), adding the attachments, and importing directly into the third party's' website.
- Parameters: This is used to specify statement dates, and what information is included in the statement. ***This field is the most important to fill out***. The parameters pertain to the information on the statement itself, while the details, dates an assignments, and attachments correspond with the action item.
-Start Date: This parameter will indicate the start date of the statement.
-End Date: This parameter will indicate the end date of the statement.
-Due Date: If you enter the due date, this will replace the run date of the statement.
-Subledger: If using Subledgers, you can determine which subledgers to include in these Statements.
-Include ACH: Checking this box will add Homeowners who are on ACH to the list to send statements. If this is not selected, Homeowners who are on ACH will not receive this.
-Include All Properties: This setting does not apply to Third Party Statements.
-Include Credit Balance: If a homeowner has a large enough credit balance to cover your next assessment, they will not be included in the statement unless the "Include Credit Balance" is checked.
-Statement message: Entering in this information will override your default message. To view the default message navigate to Settings > Company Info.
-South Data Product Code: If sending statements to South Data, your product code must be entered in the parameters of the first step: Generate Statements
***NOTE: If sending statements to other Print Vendors, Product Code is not needed.
Once all desired information has bee entered, click the Update button, the action item will advance and an attachment will be generated. Generation of the attachment may take several moments. When complete, the generated statements will display as an attachment on the action item step and Generation Complete will be displayed. This means the statement is attached and has been sent to AR. This will generate an excel file to be sent to the third party.
Next, for South Data or Optimal the AR team will step this action item to Send Statements. This action will send the excel file to either South Data or Optimal. Once statements have been sent, the action item will then automatically advance to: Completed.
*If you are using BB&T, please download the excel file and upload directly to BB&T. The interface will not currently send to BB&T by stepping the action item at this time. Once you have downloaded the file, step the action item to Completed to close the action item.
Action Item Setup:
When setting up this Action Item in the Settings > Action Types/Steps page, you can determine if this Action Item creates paper statements for everyone, or if it follows their billing preferences. This is done by looking at the Generate Statements step.
The Additional Action can be set to Generate 3rd Party Paper Statements or Generate 3rd Party Statements depending on your preferences.
Generate 3rd Party Statements will include everyone in the community in the file, regardless of their individual billing preference.
Generate 3rd Party Paper Statements will only include those homeowners that have a Paper billing preference. Owners with Electronic preference are skipped.
You may find it beneficial to have an Action Item that uses each of these options, so you can determine which group of homeowners you wish to include for different scenarios.
- On the SouthData statement, there is a "key" at the bottom along with a website where homeowners can directly sign up for e-statements - when the file is sent, homeowners who have signed up for this function will receive e-statements instead of paper. (SouthData will read the file and send an e-statement for owners who have signed up for e-statements and paper for the rest- they are reading account number, name, and address. So as long as these 3 items going over in the file do not change - they will receive an e-statement)
- Resident billing portal - this is a function that management companies will sign up for in the SouthData portal. Homeowner lists will have to be provided, an email blast will be sent out with "portal login information" to homeowners so they are able to sign up to receive e-statements. The Resident Billing portal comes with a mini onboarding process to teach the SouthData user how it works and how to send out communications - please contact SouthData for further information.