While rare, it may sometimes be necessary to void a Refunded Payment to a Homeowner. If the check is be reissued, simply void the invoice from the Association > Bank Register and reissue the check. However, if the invoice should never be paid, voiding the owner refund invoice does not automatically void the refund on the owner ledger. This article is to show you the process in voiding an Owner Refund, while keeping your GL and Homeowner Ledgers correct.
It is currently a two step process.
Step 1: On the Association>Assessment screen, click on '+ New Assessment' button.
The Edit Assessment screen will come up. For the following fields:
Description: add 'Owner Refund' (or however you would like to name it)
Type of Charge: select 'Manual Charge'.
GL Account: use the same GL as found on Association > Settings under "GL for Owner Refunds."
Select any other applicable fields and then 'Update'.
*Note* When setting up this charge type, you may want to copy it to other Associations to save yourself time if this happens again.
Step 2: Navigate to Homeowner > Ledger and add a 'New Charge'
From the Transaction field, select the 'Owner Refund' charge type that you just created. Fill in the 'Amount' field with the the charge amount of the refund that you are reversing. This will negate the amount of the refund and the net on the Owner Refund GL will be 0. The charge for Owner Refund Reversal will now also reflect--along with the original Refund--on the Owner's Portal and on Homeowner Statements .