Entering Prepays

You enter a prepay as a receipt or a part of a receipt. When you enter an amount in the Amount field on the Receipt screen and then tab or click outside of that field, Voyager automatically applies the amount to charges in the charge table that appears at the bottom of that screen. If the amount of the receipt exceeds the total amount of the charges, Voyager creates a prepay line in the receipt detail table and assigns the excess amount to that line.

This section describes what to do with a prepay on the Receipt screen for a receipt in a detail batch. It does not describe how to create a receipt batch or how to complete fields on the Receipt screen that are not specific to prepays. For detailed descriptions of receipt procedures and fields, see “Detail Receipt Batch Procedures”.

Voyager uses the prepay accounts specified in the Accounts & Options screen for prepays entered in a summary receipt batch. Such prepays are automatically applied to the first available charges or, if a Hold for account is specified in the Account Info screens for the prepay accounts, to charges to the hold-for account.

To enter a prepay so that it automatically applies to any charge

Leave the charge code set to the default (prepay) so that the funds remain in the prepay income account on the cash books until Voyager automatically applies the funds to a charge.

To automatically apply the prepay to charges to a particular charge code

In the Charge Code field, select the charge code (for instance, rent) to which you want Voyager to automatically apply the funds, and select Hold for from the Ref drop-down list.

Changing the charge code does not change the account to which funds are allocated on accrual books until the funds are applied to a charge. For example, if you specify that funds be held for rent, the funds will immediately appear in the rent G/L account on the cash books, but will remain in the prepay liability account on the accrual books until Voyager automatically applies the funds to a new rent charge.

Contact Yardi technical support if you need the ability to apply prepays to an account other than the prepay liability account in accrual books.

If you want Voyager to automatically apply all prepays to the same type of charge, specify the G/L account for that charge type in the Hold for field on the Account Info screen for the prepay income G/L account. For more information, see “Setting Up Prepay G/L Accounts”.

To enter a prepay so that it must be manually applied to a charge

Select Manual from the Ref drop-down list. If you specify that a prepay is manual, you must manually apply the prepay in a detail batch. For more information about applying prepays, see “Manually Applying Prepays”.

Manual prepays are always held in the prepay cash and prepay liability accounts until the prepay is manually applied, regardless of which charge code is specified in the Charge Code field.