| What is the criteria for moving transactions with Clear Paid Items? |
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All open item records that meet the following criteria are removed, and the corresponding transactions are moved from the current file to the history file:
- An open item must be fully paid and the Charge Date must be equal to or prior to the Cutoff date.
- Payments must have a Payment Date equal to or prior to the Cutoff date.
- Transactions of the following types must have a Charge Date equal or prior to the Cutoff date:
Charges, Payments, Accumulator Adjustments, Applied Credits, Applied Deposits, Applied Interest, Bad Debt, Charge Adjustments, Credit Adjustments, Forfeit Deposits, Pay Interest, Reference, Refund Credits, and Refund Deposits.
- Miscellaneous Income, Fee Payments, Vacancy Loss, and Straight Line Rent transactions must have a Transaction Date equal or prior to the Cutoff date.
- A Fee Payment transaction is only cleared if all related transactions are also cleared.
- A Payment transaction is only cleared if all related transactions are also cleared, as the software keeps all transactions related to a payment together in the same transaction file.
- For example, if a payment affects five open items, and one of them is not fully paid, none of the five open items are cleared and none of their related transactions are moved to the history transaction file.
- As another example, if you use Conditions to limit items by lease and if payments on the lease paid items on multiple leases and you do not select those leases, the payment and related transactions will not move.
- Bank Deposits will be cleared and deleted when all payments and related transactions associated with that Bank Deposit are also cleared. The Bank Deposit Date must be equal or prior to the Cutoff date.
Notes:
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If you use Conditions to limit items by property, lease, or tenant, only the selected records that meet the conditions are processed. For example, if you select to Clear Paid Items for a single property, only transactions for that property are evaluated.
- It is advised that you have a current backup of your files prior to processing Clear Paid Items. Be careful when selecting the Cutoff date as there is no way to undo this process. If you find that you have used the wrong date, you must restore to backup.
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Depending on the size of your data files and network configuration, running Clear Paid Items can be a time consuming process.
DocLink: How do I run Clear Paid Items in Property Management?
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