Generating an Arrears Report in Strata Master
Summary
Learn to generate an arrears report. Generating an arrears report is part of the Debt Management process within the agency, and alerts to the need for -
- issuing statements,
- issuing a missed levy notice,
- making phone calls to Lot Owners or Property Managers, where email addresses may have changed, owners may be hospitalised or in other ways unable to make contact/payments,
- discussing the need for payment plans to be negotiated.
Overview
Covered in this article is -
Timing of An Arrears Report
The arrears report will provide the status of each Lot as at the date and time the report is generated.
Aged arrears reports do not generate for a date in the past, however there are options which will be described in this article, and in the Overview as Alternatives.
Generating the Report
1. Click on the Formatted Reports icon and select the Aged Arrears List report.
2. You are able to select one Plan or Multiple Plans. This will always generate as at this time.
3. The Aged Arrears Report gives a snapshot of the status of the Lots levies.
Alternatives to An Aged Arrears Report
Should you require a report that will provide arrears information at a prior date, you can generate and refer to the Levy Positions Report. This is selected Plan by Plan.
1. Select Form Rpts (Formatted Reports) from your Icon Toolbar.
2. Select Levy Positions Reports from the drop down menu list.
3. Select
- a Plan
- a month for end of the moth status of the Lot ledgers
- Select Complete until you are more familiar with the report. Complete provides arrears, advance and unallocated funds figures
4. Then click OK to generate the report which will preview on your screen.
5. The first page of the report will list the Admin Fund status. This may run into more pages if there are many Lots. The report provides for a perusal of the following figures for Standard and Special Levies -
- Due amount (gst incl and excl) which should match the Levies Due figure on the I&E Report for same date.
- The arrears which should match Receivables Levies figures on the Balance Sheet for the same date.
- Amounts paid which indicates a Lot Owner is making payments.
6. Followed by the Capital Works/Sinking Fund status.
7. The back page will contain a list of lots with unallocated funds as these funds could be applied to any overdue levies.
