The idea behind Prepayment Adjustments is to easily adjust the prepayment balance of multiple customers accounts at once.

The important thing to remember about prepayment adjustments is that they do not flow up to the FCL mainframe (the mainframe already has the member's correct prepayment balance - you're using an adjustment to match it in agrē) so are excluded from the Cash Out report and TLog.

Prepayment Adjustment Business Rules

limited to active customers only

New Prepayment Balance cannot be negative

uses today as the adjustment date (no back- or future-dating)

Prepayment Adjustment Payment Type must be set (for increases only) and selected GL account must be active

Location must be active

comments are required

prepayment adjustments can be edited and deleted, but not reversed

 

Before you can start making prepayment adjustments, there's a couple of things to setup.

Adding Prepayment Adjustments

To add prepayment adjustments
* indicates a required field (other fields are optional)

Navigate to Accounts Receivable > Manage > Prepayment Adjustments.
The Customer Search window opens.

Find the customer using the various search criteria (or just click Search to retrieve them all).

Type the customer's New Prepayment Balance in the far-right column.

Decreasing a customer's prepayment balance works exactly like transferring prepayment funds to their regular account: two postings will appear on the customer account, one that reduces the prepayment balance and one that increases unapplied credits.

Increasing a customer's prepayment balance creates a single posting on the customer account increasing their prepayment balance (but remember - they didn't actually give you any more money).

Select a Location*.

Type a Comment* (the reason for the adjustment - end of season, etc.).

Click Save.
A message appears with the number of customer accounts adjusted.

To edit or delete prepayment adjustments

Navigate to the Customer's Account.

Select the Prepayment Adjustment on the Account History tab.

Click Edit or Delete (you'll be asked to confirm the deletion with a reason for deletion).
Deleted prepayment adjustments that increased a customer's prepayment balance will appear in the Audit section of the Cash Out report under Deleted Prepayments.