** Refers to new or updated subjects in this tutorial.

Specific references within this tutorial to specific screen displays may differ if data/demo files have not been updated.  It is advised that users get new data files before beginning a tutorial.

Month End Steps

Before printing accurate month-end owner statements and checks:

 

• Check in arrival and no-show reservations
• Configure Owner Masters
• Process Revenue
• Process Res-Related Charges
• Process Recurring Charges
• Post Interest and Late Fees
• Post Miscellaneous Charges
• Print Statements
   

1. Verify all reservations are checked in for the month.
   1. Click "F6 Arrivals" from the toolbar.
   2. Uncheck "Hide No-Shows" if necessary.  Check in or cancel any No-Show reservations.
2. Configure Owner Masters.
   1. From the Owners main menu, click Configuration.
   2. Verify processing switches are properly set.
3. From the Owners main menu, click Process Revenue from the Month End submenu.
    
   1. Verify that revenue is to be processed through the correct date by setting the "Process Revenue Through" drop-down.
   2. Check the "Single Owner" checkbox if necessary.
   3. Click Review.  Confirm that all revenue will process correctly. 
   4. Make changes to reservations for incorrect room charges.  Use the Room Charge Adjustment transaction code B220 and a previous posting date for the month being processed. 
   5. Click Review and confirm that all changes have posted correctly. 
   6. Once all charges are correct, click Process.  All revenue and management fee adjustments must be done manually directly to the owner's folio after processing revenue.  The owner statement will not appear to be correct.
4. From the Owners main menu, select Res Related Charges from the Month End submenu.
    
   1. Click Review.  Confirm that all charges are correct. 
   2. Once all charges are verified, click Process.
5. From the Owners main menu, select Recurring Charges from the Month End submenu.
    
   1. Set the Posting Date. 
   2. Select or confirm the Owner Type.
   3. Select the charges by checking the box for each Recurring Charge row to be reviewed.
   4. Click Review.  Confirm that all charges are correct. 
   5. Once all charges are verified, click Process.
6. From the Owners main menu, select "Interest & Late Fees" from the Month End submenu.
    
   1. Set the Posting Date.
   2. Consider "Include 'N/R' Types".
   3. Check the "Single Owner" checkbox if necessary.
   4. Select or confirm the Starting and Ending Owner drop-down fields. 
   5. Select or confirm the Owner Type.
   6. Select or confirm the Property drop-down (if using property codes).
   7. Select All, Posted OK (successful only), or Skipped (unsuccessful posting) to select what information displays when Review and Post are clicked.
   8. Address the "Type of Interest Charge and Late Fee" fields: "Cutoff Date Balance", "Include Payments and Credits since this date?", "Open Balance", and "Minimum Age of Open Balances (Days)".
   9. Select Interest Charge and/or Late Fee and the appropriate Rate/Amount, "Minimum Interest Charge Amount", and "Minimum Balance to apply Interest Charge and Late Fee".
   10. Click Review.  Confirm that all charges are correct. 
   11. Once all charges are verified, click Process.
7. Select Post Charge from the Owners main menu to post any remaining charges not posted in Steps 1-6 above.
8. From the Owners main menu, select "Owner Statements" from the Month End submenu.
9. Preview and print owner statements.

 

 

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04/15/2009

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