How to Record Dishonoured Amounts in STRATA Master

When a levy or other payments have been receipted and banked in STRATA Master, and is later dishonoured by the bank, complete these steps.

  1. Cancel original receipt(s)  

Receipt Options

Receipt Type Cancellation Entry  Receipt Type
Levy Receipt – amounts receipted to lot owner ledgers  Accounting > Adjustment > Search / Cancel Receipt Owner
Non Levy (insurance claim, key deposits, certificate or search fees, etc., & multiple trust accounts Accounting > Adjustment > Search/Cancel Receipt Owners Corporation
  1. Enter the receipt date in Show receipts dated from ~ to, then Search. Cancel the receipt(s) and enter the reason for cancellation.
  2. Click on the receipt(s) to ben cancelled, then click Cancel.
  3. Enter the reason for cancellation, and click OK.

Cancellation will appear in the general ledger at the cancellation date

If a receipt is to be cancelled after the financial year end has been rolled over, the adjustments will appear in the current financial period.

  1. Bank fees need to be accounted for and recovered from owner. 

To enter the bank fees charged:

Accounting > Manual Bank Reconciliation

  • Select the appropriate plan.  
  • Click Withdrawals. Click on Add under ‘Enter direct charges shown on the bank statement to be accounted for in the GL’.
  • Enter the Date as per the bank statement. Select the GL Account, description and amount.  
  • Save – to record the transaction

To recover the charge from the lot owner:

  • Accounting > Issue Invoice, select either Miscellaneous Invoice if a single owner to be charged or Multiple Miscellaneous Invoice if more than one owner to be charged.
  • Select an Account code. You may choose to select the same as the one selected above to account for the bank fee. This will offset the bank fee expense created above. Select Group if applicable.
  • Enter the Amount and the Description, then click Print to Save & Print the miscellaneous Invoice.
02/02/2016 10:47 am AEDT

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