4.11.12 How do you apply credit and return real cash to a leaseholder

4.11.12 How do you apply credit and return real cash to a leaseholder

When you wish to credit leaseholders back on their service charge account as well as physically transfer money to them from the bank account. This is how you can do it: 

1. Workbench-> Reporting -> Reporting -> Leaseholder Statement -> Check their statement

Flat 4 in Ram's Meadows has been overcharged by previous agent.
Their 01 Jan - 31 June 2018 Reserve Fund charge is only £205.49.
Their 01 Jul - 31 Dec 18  Reserve Fund charge is £1,064.81
Their 01 Jan 19 - 30 Jun 19 Reserve Fund charge is £1,064.81

2. Work out the difference to credit them
£859.31 charged more for the period: 01 Jul - 31 Dec 18
£859.31 charged more for the period: 01 Jan 19 - 30 Jun 19
The leaseholder has overpaid £1,718.62 which is the amount that needs to be credited

3. Create an ad-hoc credit
You then go into the block area -> finance -> fee collection -> [ad-hoc collection] and do a Service Charge - Manual with a negative figure by placing a minus in front of the amount. This will be the amount (£-1,718.62) you are crediting back on their service charge account so it is reflected on Blocks Online. You can choose to physically send this to them (see point 4) or leave it on their service charge account so it deducts the next set of demand's total. 

4. Create a negative receipt
If you are physically sending it back to them via a physical transfer of funds to their account then this needs to be reflected on Blocks Online. This is so that your bank reconciliations are correctly matching. 
To do this you have to create a negative receipt. All you have to do is to go to the block area -> finance -> receipts -> record receipt -> Just put a minus in front of the amount (-1,718.62) to create a negative receipt. 

5. Match the ad-hoc credit to the negative receipt
Now go to finance -> fees & receipts -> match receipts and invoices. Here you can match the ad-hoc credit and the negative receipt so they offset each other. 

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