Suspense Setup

Navigate: ClosedTax > Accounts Receivable > Setup > Suspense Setup

Description

You can receive and track money not directly associated with a revenue object (and its PIN) or a bill. Payments that are held for investigation and further processing are termed suspense payments.

They are a type of surplus and are included in reports that show surplus:

  • Cashiering reports:  Session Reconciliation report, Back Office Reconciliation report, Daily Balance report

  • A/R reports: Surplus Subcode (previously Refund/Overpayment Listing), Payment Listing, Collections Summary, and Payment Management Audit

Commonly there could be several suspense collections during a week. They should be cleaned up on a regular basis.

  • A small mortgage company sends their payment manually as a list of bills to pay and a single large check (not electronically as a file.) The cashier can receive in the check and work out the application to the individual bills/PINs at a later time.

  • A batch payment contains one or more payments to invalid revenue objects. The payment can be included in the day's receipts, and the error can be investigated later.

  • A partial payment is made, but the partial payment is not allowed. The payment can be included in the day's receipts, and the application of the payment to a bill/PIN can be done by an appropriate method.

Steps

  1. On the Set Up Suspense screen, make a selection from the Payment Import Process drop-down list.

  2. If necessary, make a selection from the Payment Rejection Reason drop-down list.
  3. In the Subcode panel, make a selection from the Surplus subcode drop-down list.

  4. The default revenue account is displayed automatically. If not, click Lookup to open the Records Search for Revenue Account screen to search for and select the revenue account associated with the suspense collections.

    • Select the checkbox for one or more items in the Search Results grid and click Return.
  5. Click Add/Update to include the above information in the Rejection Reason Code Surplus Subcode panel.

  6. Click Save in the Command Item bar. Or, click Close to exit without saving.

Prerequisites

Configuration Menu

  • Systypes: Surplus Sub Code includes a code for Advance Payment Suspense. It displays in the Surplus Type drop-down list of the Search for Payments screen, when doing the A/R option Apply Advance Payments.
    The systype of Suspense Payment Rejection Reason Codes can be modified either through the Configuration or directly on the Set Up Suspense screen. ("Tolerance" is no longer an option.)

Records

  • Other Revenue Object Maintenance > Revenue Account Contacts - Create a revenue account to use as the default revenue account for suspense occurrences. The revenue account is not associated with a revenue object/PIN.

Tax Accounting

  • Funds and Accounts - Create the general ledger account numbers for suspense.

Cashiering

  • Miscellaneous Sources - Set up a miscellaneous source with an attached holding revenue account, where the suspense payments are held until their application to a revenue object or bill.

  • Set Up Cashier - Set up the cashier authorizations for accepting suspense payments.

  • Cashiering Setup - Set up the Maintain Flag Payment Rules and the Maintain Flag Payment Rule Details.