Recording an NSF-CLOSED Period (when anticipating payment in the future) 20
Purpose: Use this document to record an NSF in a CLOSED period (when anticipating payment in the future) within ctcLink.
Audience: Finance/Accounts Receivable
Overview: When an NSF occurs, the payment must be unposted to free up the invoice on the customer’s account so the account will reflect an outstanding invoice.
The activity for a closed period is almost the same as a current period with the exception that the accounting date must be changed.
Navigation: Main Menu > Accounts Receivable > Receivable Update > Unpost Groups > Payment Group
Below is the process for recording an NSF by CHANGING the accounting date.
- On the Find an Existing Value tab, select the correct Deposit Unit and Deposit ID to unpost.
- From the Payment Control page, review for correct data content.
- Select the Options tab.
- Select the search icon in the Unpost Reason field, select NSF.
- Select Save and notice the error message.
- Select Cancel within the message page.
- On the next message, select OK.
- Select the check mark in Edit Accounting Date. This will free up the Accounting Date field.
- Enter the current open date in the Accounting Date.
- You will get one more warning message - select OK.
- Select Save.
- Select the Action tab to release this unpost payment group.
- Select Review Unpost Now.
- Review accounting.
This, unfortunately, will take you out of the unpost but you can return to the action tab by going to Accounts Receivable> Receivables Update> Unpost Groups> Pending Payment Group.
- Click on the Group ID.
- Click on the Action link at the bottom of the page (or the Action tab at the top of the page).
- Select Balance.
- Select Batch Standard.
- Select Save.
- Run AR update. You have now unposted the payment and it is awaiting the confirmation of repayment by the bank for the NSF.
- After you are done with the unpost, you have set the customer’s account to reflect an unpaid invoice. This means when the bank identifies the check as being paid or settled the payment must now be matched up to the invoice on a payment worksheet.
The navigation is Accounts Receivable> Payments> Apply Payments> Create worksheet (you will be doing a Search not an Add).
- You will notice below that the Deposit Number used is the same as the original Deposit ID. The reason you must use the old one deposit id because it needs to be matched up to an invoice and you are NOT creating a new deposit when you unposted it, the payment was no longer applied and the invoice is no longer settled. The first page is “Payment Worksheet Selection”.
- Enter the Deposit ID, this will pull up the proper worksheet information.
- Enter the Customer ID, go to the Item Reference and enter the appropriate invoice number.
- Select Build to go to the Worksheet Application page.
- When the warning message appears, click OK.
- Select the Worksheet Action link.
- On the Worksheet Action page, select Create/Review entries. (You will see another accounting date warning).
- Select the Return To Previous Panel button after reviewing accounting entries. This will take you back to the Payment Worksheet Action page.
- Change the Posting Action to Batch Standard. (You will see one more warning).
- Run AR update.