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 select Charge Adjustment.
Enter the total adjustment, which is the amount of the voided refund. I recommend entering a description, as this will also appear on your Homeowner's Statement. Next put the amount of the refund in the Adjustment Column in the Owner Refund field.
This will "reduce the charge" associated with the Owner Refund charge (and the associated Owner Refund GL). During the overnight credit distribution process, this will allocate the new credit balance appropriately.