Interest Allocations
- Former user (Deleted)
- Emilio Casias
The Doorways Groups feature allows you to post Interest Allocations for any accounts that accrue interest which you need to pay out to tenants/homeowners. Please follow the steps below to allocate interest.
Step-by-Step Guide to Posting Interest Allocations
You will need to have your equity accounts defined in setup before posting interest. Please contact support@hdslabs.com to have these setup.
Navigate to the “Occupancy” tab at the top of your screen
2. Your screen will be defaulted to the “Households Directory” from there > Select “Show Filters”
3. In the “Programs” dropdown > Select the program you want to post the interest for
4. Ensure you select “Tenant” if you only want to post for current tenants of that program
If you want to post the interest for everyone in a Program who has an equity account, do not select “Tenant”
5. Select “Apply Filters”
6. Once you get your results, click “Create/Add to Group”
7. A pop-up window will ask you to create a new group, or select from an existing group.
8. Once you have filled in the appropriate fields, click “Save”
9. A “Success!” message will pop up and you’ll want to select “Yes, take me there” from the options
10. The group will then pop up on your screen asking you to select an account and action for the group, select the account first.
11. Select the account you want the Interest to post TO from this dropdown list.
12. Next, select the “Interest Allocations” action from the dropdown list.
13. A popup wizard will display and ask you to define the Transaction Type, the Posted On date you want to be displayed for the Interest, and a Description for your transaction. Once completed, click “Next”
14. After you click “Next” you’ll choose an Equity Account and the year for which you’re posting interest
15. Next, post the interest rates for each month you are posting interest for. Click “Next”
16. Finally, you will review the total amount for all adjustments at the bottom of the screen.
The amount displayed takes into account the total balance in the equity account minus any AR balances.
17. When you’re done reviewing the transaction - hit “Post Adjustments”
18. You will then be routed back to the Group view, from there you can select “History” to view all posted transactions and print receipts.
19. Select the line item for the transaction you want to view
20. Review the information on the screen, select “Print All” to print the receipts for these transactions
21. After hitting “Print All” you are brought to this screen, select the “Download” icon to download the receipt file
Congratulations! You have posted interest!