Receipting Allocation rules
Please add the functionality global/individual plans to set the allocations when processing receipts via download.
Hi Supporters,
We are happy to let you know that your suggestion has been released.
Please refer to the latest Release Notes http://kb.rockend.com/help/strata-master-version-115-release-notes in the Knowledge Base for more information regarding this feature.
Please note you will need to upgrade to Strata Master Version 11.5 to use this feature.
Kind Regards
Amy
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Sonia Hartley commented
Date 8.7.19 - This needs fixing as a priority - at present it goes against accounting principles. Funds should always be allocated against the oldest outstandings first. I've had to do a work around and it's just not good enough, that your software was set up this way. This started happening when you introduced future dating of Misc. invoices, I believe, and this was the consequence . I see Rockend development answered this on 6.5.19 - its been two months what is the latest please?
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AdminInsights Team (Admin, MRI Software) commented
Allocation of funds: it's really annoying that the owners payments are automatically receipted against the first outstanding payment e.g. misc invoice. It makes us look bad and causes unnecessary phone calls from owners.
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Crystal Xu commented
Please add an option we can change the sequence of receipt allocation. It's better to allocate the receipt to levies first instead of late fee and interest.
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AdminInsights Team (Admin, MRI Software) commented
Auto-allocation of receipts is a major problem, it is a manual process to correct and if it doesn't get rectified they will have to start looking at other solutions.
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AdminInsights Team (Admin, MRI Software) commented
There really needs to be a way these miscellaneous charges for not just keys can be accounted for. If a levy payment is made it shouldn’t be coming off the charges for the key or the charges generated by their tenant. Plus it can’t be identified if for some reason its unpaid and showing on a meeting attendance report. I am all for the associated costs to be on the lot details, so that it can be shown on section 184’s and ease of locating in years down the track if a refund is required and no one can remember the year they purchased so we are then scowling through non levy income; plus alleviates our time having to chase tenants for correct information prior to getting keys and arranging their deposit being returned via our offices.
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elained commented
You are able to reject levy receipts on the individual owners card under levies tab in SM.
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AdminInsights Team (Admin, MRI Software) commented
Allocation and reallocation process for receipts. Allocation works ok BUT when you need to reallocate a payment, the process at the moment is you have to cancel it and re-receipt. Time restrictive BUT bigger issue is the audit trail that creates a receipt for something that should not have been a receipt. Affects all items, whether electricity, levy or interest. Legislation doesn't say you have to allocate in a particular way in the strata titles act but under common law you must be able to follow those instructions. One property has basically a loan type arrangement - large levy of $20,000 and then allowed that to be paid off over time - so whenever a receipt comes in it allocates to that as the oldest due payment, not the current levy due. When you look back through the history it has all these cancelled receipts that just look awful.