Cancelling Management Fees after Cancelled Debt Recovery Run in Strata Master
When running debt recovery stages, there is a management fee that will process automatically as set up in your Configure > Debt Recovery screen.
The article will assist you to cancel the fees charged to the Owners Corporation if the debt recovery is to be cancelled and re-run.
Please read through the article before commencing any steps.
How Much to Adjust
1. Go to Configure > Management Fees.
2. Check the Debt recovery fees for "Billing Unit" and check that it says "each".
3. Then check how many debt recovery Lots will be cancelled for each stage in each Plan and re-run. You will reduce the charge by the number of Lots cancelled and re-run.
4. If you only run debt recovery once a month and have not previously run in this management fee period, then you will be able to cancel all debt recovery fees, so just note the Plan numbers.
It is up to your agency to ensure the correct adjustment as the above is based on a standard set up.
Where to Adjust the Fees
4. Navigate to Accounting > Charge Quantity Management Fees > Enter the relevant Plan number.
5. Note the Debt recovery fee.
6. Click edit and highlight the line to be adjusted. Note that the 3 debt recovery stages will each produce a separate line entry. Stage 2 in the above example would show as DEBT2.
7. Click into the Quantity field and adjust down as required, then click Save.
8. If you only run debt recovery once a month, it is likely that the whole entry can be cancelled. Do that by highlighting the DEBT1 line as above in step 6, Then click the cancel button.
You will find that Owners have been charged a debt recovery fee also. You will need to cancel the Misc Owner Invoices charged to the Lot Owners through Accounting > Adjustment > Levy Journal.