Net Out Credits |
Agencies with the Agency Initiated Credit feature are able to initiate credit on payments AFTER the closeout process is complete and the agency has collected payment. The credit amount total will be "netted out" from the Agency Total Amount ready to be closed on. If the amount of the Credits paid to the customer exceeds the total amount of the (next) closeout, the user will not able to complete the closeout and a message will display stating the closeout could not be completed until there are sufficient funds to closeout. |
Net Out Credits will be displayed in the (closeout) Summary Report:
If the amount of the Credits paid to the customer exceeds the total amount of the closeout, the following message will display in VPS with links to the Summary and Detail reports:
"The Closeout process could not be completed at this time. The amount of outstadning credits totals more than the amounty of availble to be paid out on the close attempt. Please review the Credit Details in the Summary Report.
An email will be auto generated to the recipients of the ACH Correspondence distribution list stating the closeout could not be completed due to insufficient funds. Email will include attachment of “Credit Balance Report” for failed close if agency’s close reports are emailed. Report will not be attached if agency close process does not include Close Reports attached. The orders in the close request will remain Open/Paid in Full. The Credit Balance report is created that includes the reverted closes' Summary and Detail report information. See How to View Credit Balance and Attempted Closeout Reports for more information.
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