How to Activate Clearing Statements in REST Professional

Overview

Clearing statements will show only transactions since the last statement was cleared, unlike the non-clearing statements which will show all transactions in the current period regardless of when a statement was done. They may also hold transactions for more than the month if they are not cleared at the end of the month.

This document will cover:

  • Important Points

  • How to Activate Clearing Statements

  • Setting up Read-Only Database

  • New Features in the Clearing Statement Database

Important Points

There are some important points to take into account before considering activating clearing statements:

  • This feature can only be enabled directly after a Files Update and before any transactions are entered in the current month

  • Once you activate clearing statements, you will no longer have access to prior statements. You can speak to someone in our Technical Support Team who can assist you to setup a read only database for you to access previous statements.

  • Each time you payout the owners, you will be required to print and clear the statement. This can be done daily, weekly or as often as required. To payout the owners, you would go to Reports > Owner > Clearing Statement and Payment > Select your requirements and print. This will print and clear the statement. The statement will display any transactions against the property since the last statement was printed and cleared, including rent, journals and disbursements

  • Postage and Sundries is charged every time you print and clear a statement if you have this setup on the Owner Details.

  • The owner statement styles that can be used with clearing statements are 1, 2, 3, 6 and 7 only

How to Activate Clearing Statements

  1. Ensure all users are out of REST Professional

  2. Do a quick backup of current data i.e. Files > Archive > Backup > click Next > select Current Data > click Next > select Quick backup to hard drive > change the file name to “before.activating.clearing.statements.dat.zip” > Finish

  3. Ensure that no transactions have been entered in the current period since files update

  4. Ensure you have the highest level of security as this is required to access System Options

  5. Contact Rockend Support on 1300 365 788 to get a response code

  6. Go to Other > Utilities > System Options > select the Statement/Report tab > enter response code as provided by Rockend

 

  1. Tick the box Produce Clearing Statements and Display uncleared funds in statement & balance

  2. Click OK-F12

  3. Complete another backup, this time rename it “after.activating.clearing.statements.dat.zip”

Setting up a Read-Only Database

Before you activate clearing statements, it is highly recommended you setup a read only database. Once the clearing statements are activated, you will no longer have access to the owners’ previous statements as this is a different format.

In order for us to setup the read only database, we are required to seek your Audit Backups, which are the Data and History backup that at end of month.

Once you have these backups, please log a support call on 1300 365 788 to setup the read only database.

New Features in Clearing Statement Database

Once you have activated Clearing Statements, some of the options will have changed:

  • Reports > Owner Menu:

    • Clearing Statement Summary: This report will show all transactions for each statement in the month, including fees charged for each statement. It is similar to the owner ledger; however it’s broken up by statement. This summary can be previewed for the complete history, current period only or a period range
    • Clearing Statement Preview: This report can be printed before a statement run to check the owner transactions and balances. This can be viewed as full page statements or a condensed version which will only show the amounts not the transactions
    • Clearing Statements & Payment: This replaces the statement printing step, and will print the owner statements and process the owner payments, including cheque payments, charging postage and sundries and splitting any split owner payments
    • Reprint Clearing Statements: Use this report to reprint the previous clearing statements. You can enter the date of the statement you would like to reprint, or leave this date free and it will give you the list of statements printed for the period specified
    • Owner Advance Cheques & Owner Advance EFT Payment: These steps replace the Cheque Printing and Owner EFT Payments, when you process the payments this way it will not print and clear a statement, it will only process the payment. This payment will show on the next statement that is printed and cleared.

15/09/2016 9:30 am AEST

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