Management Company Maintenance Overview

Navigate:ClosedBusiness Revenue > Business License > Management Company Maintenance

Description

Use this task to search for and maintain management companies that manage business tax accounts as a group so that Accounts Receivable can cashier the managed business tax accounts as a group. Management companies are selected and applied to:

  • Business accounts on the Maintain Business License screen from the Managed By dropdown (Business Revenue > Business Maintenance > Search for a Business > Maintain a Business [Locations panel License active text] > [View License Summary] > Maintain Business License).

  • Trust tax accounts on the Maintain Trust Tax Account screen from the Managed By dropdown (Business Revenue > Business Maintenance > Search for a Business > Maintain a Business > [Locations panel Edit button] Maintain Business Location > Common Action: Trust Tax Accounts >  View Trust Tax Account Summary > Maintain Trust Tax Accounts).

NOTE: A system event is generated whenever a management company is applied to, removed from, or changed on a business revenue or trust tax account. If applicable and set for your jurisdiction, a workflow is kicked off for the system event that is available from the View My Worklist screen, available via the left sidebar Workflow icon on any screen.

Steps

  1. First perform a search for the Business Revenue management company on the Search for Management Company screen.

  2. Maintain the management company on the Management Company Maintenance screen.

  3. Optionally generate management company reports:

    • Business Tax Management Company Report by selected management companies that shows for business revenue and trust tax accounts that are managed by management companies:

      • Management company name

      • Associated Business Tax account details, such as account number, name, and address

      • Balances due

    • Management Company Detail Report by defined business account/trust tax account range(s) and selected management companies that shows:

      • Management company name

      • Associated Trust Tax account details, such as account number, name, address, and units

Dependencies, Prerequisites, and Setup
Billing
  • The management company type of BusRev Management Company must be set first for each management company so that they are available for selection in this task. Set these up via Tax > Billing > Lender Administration > Lenders and Service Companies. Once defined, use the Management Company Maintenance task to maintain the business tax account management company.
Configuration

  • A system-defined systype created by Engineering of BRMgmtCo was added to the Lender Type systypes category to accommodate this task.

  • The effective date systype application setting Managed Account Flag defines the type of flag to apply to managed accounts. Set this via Configuration > Application Settings > Maintain Application Settings. Select the Setting Type of Effective Date and the Filter by Module of Business Revenue. Click Edit on the Managed Account Flagsetting and select the applicable flag to apply to managed accounts.