Objective: This article will cover the process and template for completing the Payment Allocation Import, which allows a user to split a payment across multiple homeowner accounts from items submitted through the Lockbox file. An example use for this import would be a builder or developer who sends a single check to cover assessments for multiple lots.
There are two versions of the Payment Allocation Import depending on how the payment was recorded in Vantaca. Use the Payment Allocation via Lockbox import for Miscellaneous Deposits that are processed through the Lockbox file from your bank. The Payment Allocation via Post Deposit import can be used when the deposit was made directly to the bank and manually recorded via the Post Deposit function on the Accounting > Reconciliation screen.
Important Note: These Imports must be done in an open Fiscal period. If the period is closed when committing this import, the import will fail and Vantaca Tech Support will need to correct the issue before the client can try again.
Method 1: Payment Allocation via Lockbox
This must be done as one import PER CHECK NUMBER.
To begin you would first want to ensure the check is deposited/scanned to the Lockbox file for that day. Scan the check as a Miscellaneous Deposit type. Once you receive the file from the bank you can go to the Settings > Import screen to Review and process that file.
When reviewing the file, make sure the payment was scanned in as a Misc Deposit. If it was not and needs to be changed from a homeowner payment to a Misc Deposit, you can do that by clicking the "MiscDeposit" button on the item within the file (see below). Just be sure to Save Changes once you switch the payment type.
When you change the type to Misc Deposit it will then change your options on that item to "GL Entry" or "Payment". The Payment option switches the check back to a homeowner payment. The "GL Entry" option is what you will click on to enter the associated GL entry with this miscellaneous deposit. If the payment is to cover assessment charges, then you would set up your GL entry to look like the image below, where it is crediting Assessment Income (wherever the payment will be applied) and debiting your operating account where this check was deposited. See the image below for an example. You can also change the description of the deposit if you would like to note it being for a split payment. Press Update once all is completed for the GL entry.
Once the GL entry is completed for this, that is all that is needed in the lockbox file, so if all other payments are reviewed and correct, you can Commit that file to apply the payments. The final step of this process is to complete and upload the Payment Allocation Import to actually split the Misc Deposit check across the owners accounts.
Below is the excel file and columns you would want to use when performing this import. Note that the "CheckAmount" and "CheckNo" columns have the same values for each row on the file. These must be the same values for the import to perform correctly. You can split the payment between as many accounts as needed, in this example we put $20 to one account and $13.44 to another for a total check amount of $33.44 which is the check we were using in the above examples.
"OldAccount" may be used instead of "Account" for this import. "Description" is an optional field that can be included to record a description on the homeowner ledger.
When the file is completed, go to Settings > Import > New Import to create the import. When pressing the New Import button, choose the Import Type Payment Allocation via Lockbox, Import Mode set to Append, Select your Association for the import and then the Posted Date. The posted date is the date of your Lockbox file, not necessarily the item within the file. As we can see in previous screenshots the check was dated 5/7, but the actual Lockbox file was dated 5/23, which is the date we will use there. You can also verify your posted date by going to the Accounting > Bank Register and finding your misc deposit as seen below.
Once the New Import screen has been filled out with the above data, you then select your file, and once selected it will move to the import screen automatically (it may take a few moments to load into that screen here). You can then review the data to make sure there are no errors and double check your values. Then press Commit in the top right corner to commit your file and post those payments to the owners accounts (it may take up to 5 minutes to process to owners accounts depending on the amount of accounts being split to). It will post the check number and the image if available to all of the owners on that file. If you do not see your payments applied within a few minutes, then you may want to double check your posted date to ensure it was entered correctly, as that is the most common question or issue regarding this import. If you still need additional assistance, just let our team know!
**NOTE** - Be sure to delete the example data from the import spreadsheet before replacing with your own data!
Method 2: Payment Allocation via Post Deposit
This must be done as one import PER CHECK NUMBER.
If you do not process the payment into Vantaca via a Lockbox, you will use the Payment Allocation via Post Deposit import.
First, prepare an Excel file with the information for the payment allocation. Required fields include "Account" (or "OldAccount"), "Amount", "DepositDescription", and "DepositAmount". Optional fields include "CheckNo" and "Description" which can be used to notate the owner ledger. Make sure that the total of the "Amount" column for all rows for a particular deposit matches the "DepositAmount". Even though "CheckNo" is optional, it's recommended, as it will be used later to match the payment to the import.
Please note that you can use one spreadsheet to import allocations for multiple payments. Just make sure that the DepositAmount and DepositDescription match for each Deposit that you record.
Next, use the Accounting > Reconciliation screen to record the deposit. The Check No, Amount, and Description will be used to identify the payment to match to the import.
Finally, navigate to the Settings > Import screen and select the New Import button. Select the Import Type Payment Allocation via Post Deposit, set the Import Mode to Append, Select your Association for the import and then the Posted Date. The posted date is the date set on the Post Deposit screen. You can verify your posted date by going to the Accounting > Bank Register and finding your misc deposit. Once the New Import screen has been filled out, select your file, and it will upload and move to the import screen automatically. You can then review the data to make sure there are no errors and double check your values. Once everything has been verified, press Commit in the top right corner to commit your file and post those payments to the owners accounts
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