Refund Owners Credit net billing + A/R

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Refund Owners Credit net billing + A/R

Checking the Refund owners with credit net billing + A/R option allows for a refund check to be written to an owner when all the following are considered:

 

1.The Cycle's Refund Credit Balance is checked.

 

2.The owner must be included in the current revenue/billing cycle (i.e. they get a statement) by:

A.Billing distributed to them, or

B.If revenue distribution is checked, owner's revenue (either from current revenue distribution or petty suspense) plus the credit A/R balance is enough to meet the minimum payment rule for that owner.

C.An owner with a credit A/R balance, but no current activity, will not get a current statement or a refund check.        

 

3.The new A/R balance is computed by adding the owner's existing A/R balance and all of their current billing together. Any refund an owner might receive is based on the new A/R balance, using the same options as the netting option used to compute the amount to net.

 

4.The Owner is NOT marked with a Minimum Payment code of D = Do Not Pay.

 

5. The minimum payment rules still apply to each owner, regardless if refunding a credit or not.

A.  If it is a Billing ONLY cycle, then the system will use the "Flush" setting (all owners marked with minimum payment code of 1, 2 or 3- the minimum check amount will be used).  

B. Owners marked with a minimum payment code of "P" - the system will write a check for any positive amount just like normal revenue.  If the owner is marked with "D" (Don't pay), then the system will NOT write a check to the owner.

C. If Revenue option is Checked, then all of the normal minimum payment rules will apply.   (Note: by checking the revenue option, the system could pay old suspense if age of the oldest suspense item is such that it makes the owner qualify for the suspense to be "flushed".)

 

6. The "Refund owners with credit net billing + A/R option" option is only available if you are licensed for the Revenue Distribution Module. If a user is licensed only for the JIB Module, the refund option is disabled.