How to Handle Dishonoured Payments in TASS.web
This relates ONLY to payments that have been entered as Fee Receipts and are subsequently dishonoured when presented.
Step | Menu | Details |
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1 | Finance > Parent Accounts > Setup Information > Parent Accounts Setup on the 'Fees' tab. | On the 'Fees' tab, add a charge 'Fee Code' with the description 'Dishonoured Payment' (or something similar) and the General Ledger account to a clearing account. |
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2 | Finance > General Ledger > Cash Book > Bank Charges and Credits. | Enter a Bank Charge to the relevant Bank Account and distribute it to the same General Ledger clearing account used in Step 1. The following journal will result: DR Clearing CR Bank Account |
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3 | Finance > Parent Accounts > Charges & Credits > Charges & Credits. | Enter a Charge transaction to the parent account to “reverse” the receipt: The following journal will result: DR PA Debtors Control CR Clearing The description of the Fee Code is what will appear on the Parent Statement |
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4 | Finance > Parent Accounts > Receipting > Receipts. | Unapply the original receipt that was dishonoured and then apply it against the charge entered in Step 3. |
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5 | Finance > Parent Accounts > Account Information > Parent Account Inquiry. | Check the parent account to ensure the account balance is correct. |
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6 | Finance > Parent Accounts > Account Information > Parent Account Inquiry. | If a donation to Building Fund is part of the dishonoured payment, then you will need to make an adjustment to the parents building fund paid amount (where the Building Fund Method is 'donation'). If this field is greyed out, change the 'Update Building Paid Amount' flag to 'Yes' in Finance > Parent Accounts > Setup Information > Parent Accounts Setup — Change this back to 'No' once the amount has been updated. |
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7 | When repayment comes in, enter a new receipt as normal. |
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