PAC - Distribute Deposit Monies
Overview
The ‘Distribute Deposit Monies’ program is used to display deposits that are eligible for distribution.
This program can be accessed by navigating to TASS.web Finance > Parent Accounts > Student Deposit Refunds.
The program only displays deposits for students who have left the school (indicated by a 'Date of Leaving' earlier than the current date) and had their Enrolment Deposit Receipts transferred from their Enrolment Records to their Student Records upon transition to current students.
A ‘Date of Leaving' for an individual student can be entered in TASS.web Student Admin > Student Records > Student Information > Students on the 'General’ tab, or in bulk by using TASS.web Student Admin > Student Records > Year End Processing > Enter DOL for Seniors.
For Enrolment Deposit Receipts to be transferred from Enrolment Records to Student Records, the 'Transfer Deposits’ checkbox must be enabled in TASS.web Student Admin > Enrolments > Enrolments Setup on the 'Receipting’ tab.
User Security Permissions
For users to access this program, they need permissions assigned for the ‘Distribute Deposit Monies’ security point in TASS.web System Admin > Users > User Maintenance or TASS.web System Admin > Users > Security Role Permissions.
Options for Distributing or Refunding Deposits
Several options for distributing or refunding deposits are available:
Option 1: Refund the deposit and pass the transaction to the Accounts Payable system for production of a payment to the parent. The system will create an invoice in the Accounts Payable system for each parent who will receive a refund. Each accounts payable invoice created will have:
The 'Parent Code' in the 'Invoice Number' field.
The 'Parent Name' in the 'Comment 1' field.
The 'Student Code' in the 'Comment 2' field.
The trigger to create these invoices is the running of TASS.web Finance > Parent Accounts > Student Deposit Refund > Apply Deposit Distribution.
To process cheque payments for these accounts payable invoices, you will need to create a payment run using TASS.web Finance > Accounts Payable > Payment Cycle > Payment Calculator. You must select the 'Student Deposit Refund Cheques' option.
Option 2: Apply the deposit (or part thereof) against the balance owing on the parent account.
Option 3: Apply the deposit to a general ledger account, such as the building fund.
Option 4: Using a combination of 2 or more of these options.
Student Deposit Search Screen
Enter selection criteria on the 'Student Deposit Search Screen' (Distribute Deposit Monies Landing Page) or leave blank to select all deposits requiring distribution.
You can search by Student Code, Student Surname, Year Group and/or Date of Leaving.
You can select multiple year groups by holding down the 'Ctrl' key and clicking the mouse in the 'Year Group' picker.
Click the 'GO' button to display the selected deposits based on your search criteria.
Distribute Deposit Monies Grid
The ‘Distribute Deposit Monies Grid’ shows deposits matching the criteria selected on the ‘Student Deposit Search Screen.’
Code | The ‘Code’ column displays the Student Code from their Student Record. |
Student Name | The ‘Student Name’ column displays the student’s name from their Student Record. |
Year | The ‘Year’ column displays the student’s Year Group from their Student Record. |
DOL | The ‘DOL’ column displays the student’s Date of Leaving from their Student Record. |
Parent A/C Bal | The 'Parent A/C Bal' column shows the amount owed on the parent account. |
Deposit Held | The 'Deposit Held' column shows the amount available for distribution for each student. |
The next three columns are used to display how the money is to be distributed:
Refund | Any amount in this column will ultimately create an unpaid invoice in Accounts Payable against the supplier code set up in TASS.web Finance > Parent Accounts > Setup Information > Deposit Refund Parameters. This is the option you use when a cheque is required to refund the parent. |
Tfr to Parent A/C | Any amount in this column will ultimately be applied as a credit to the parent account code using the fee code set up in TASS.web Finance > Parent Accounts > Setup Information > Deposit Refund Parameters. |
Other | Any amount in this column will ultimately create a General Ledger journal. The journal will be: DR — The account setup in the 'GL Account Code for Deposits' in TASS.web Finance > Parent Accounts > Setup Information > Deposit Refund Parameters. CR — The building fund account or other account used when distributing the deposit. The journal will be created in the General Ledger the next time that TASS.web Finance > Parent Accounts > Period Activity > Post Period Activity is run. |
There are two methodologies available to enter distributions:
Click 'Edit' in the 'Action' column and enter the distribution for each line.
Click on the 'Auto', 'Refund' or 'Transfer' icons to update all records.
 | 'Auto' will apply to the parent account balance first, and then any amount left will become a refund. |
 | 'Refund' will ignore the parent account balance and place the full value to become a refund. |
 | 'Transfer' will apply the full amount to the parent account, regardless of whether this action will force the account into credit. |
Click the 'Update' button to save your deposit distributions. Click the 'Print Batch' to produce an edit list of this deposit refund.
You will now need to go to the ‘Apply Deposit Distribution’ program to complete the process.