Accessing Unallocated Funds in STRATA Master

Overview

What are unallocated funds?  When funds are receipted in STRATA Master for a lot and there are no fees against which to allocate the funds these are known as unallocated. The system assumes that these funds most likely represent an overpayment or loan and as a result the funds are reported as a Liability on the Balance Sheet and the funds are excluded from the Available Funds calculation.

What if I need to use this money to pay an Account?  If you are required to utilise these funds a fee must be charged against the lot, and then the funds allocated before payment can be made.

Once payment is made, the fee must then be cancelled.

Steps

  1. Determine how much cash is required to make the payment
  2. Identify lots with unallocated amounts.  Print Levy Positions Report – refer to last page, ‘Unallocated Money Fund’. Sometimes there are sufficient funds on one lot to cover the expenses
  3. Create Miscellaneous Invoice/s for the required lots

Accounting > Issue Invoice> Multiple Miscellaneous Invoice

  1. Plan #
  2. Amount - Enter amount to be allocated
  3. Account Code - Select Miscellaneous Income Admin
  4. The description should make reference to it being a charge to take up Unallocated Funds
  5. Enter the charges as per the amounts on the Levy Positions report – Unallocated Money Fund
  6. Click Preview (F8) to preview charges
  7. Click Save (F5)

By creating and saving these invoices STRATA Master has taken up the specified amounts from Unallocated and they will now appear as available funds.

NOTE: Once the Creditor Invoices have been paid, the Miscellaneous Invoices need to be cancelled via the Levy Journal Function

  1. Accounting > Adjustments > Levy Journal
  2. Select Plan/Lot
  3. Highlight the fee to cancel

  1. Click Cancel Levy/Invoice (F6)
06/10/2016 9:28 am AEDT

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