Create a Receivables Account

Use this procedure to create a receivables account.

Process Steps:

Create a receivables account from the Adjustment Search or the Payment Adjustment page.

A receivables account can be created to recover an approved overpayment adjustment within your locality.

When the client misses a repayment, the VaCMS automatically creates and adds a task and reminder to the VaCMS homepage of the case worker who is assigned to the case. A repayment is considered missed when the expected amount received to date is greater than the actual amount received. For example, if a client is supposed to repay 25 dollars each month and after two months the client has only made four payments of ten dollars each, the client is late, because he should have paid 50 dollars.

When a vendor misses a repayment, the VaCMS automatically creates and adds a task and reminder to the VaCMS homepage of the vendor coordinator who is assigned to the vendor.

To create a receivables account from the Adjustment Search page:

Proceed to Search for an Adjustment to search for an adjustment.
- The search results are displayed in the Adjustment Details section.
In the Adjustment Details section:
- Select the checkbox(s) next to the adjustment(s) to be included in the receivables account.

Only receivables from the same Locality and Type ( in other words, client or vendor) can be grouped together in a single receivables account.

- Click Create Receivables Account.
- The Receivable Account Detail page displays.
- The adjustments selected to be included in the account are displayed in the Collections section.

In the Receivables Account Information section:

- Enter the Established Date (required).
- Enter the Initial Repayment Due Date (required).
- Enter the Payment $ Amt to be collected on a monthly basis (required).
- Enter the Projected End Date, if known.

In the Payee Information section:

- Enter the Payee Name to identify who is responsible for making the repayments (required).
- Enter the City, select the State and enter the Zip Code for the payee address (required).
- Complete the non-required fields as appropriate.

Click Submit.

To create a receivables account from the Payment Adjustment page:

Proceed to Search for a Vendor Payment to search for the payment associated with the adjustment.
Proceed to View Payment Information to navigate to the Payment Adjustment page.
- The Payment Adjustment page displays.
In the Approved Adjustment section:
- Select the checkbox(s) next to the adjustment(s) to be included in the receivables account.
- Click Create Receivables Account.
- The Receivable Account Detail page displays.
- The adjustments selected to be included in the account are displayed in the Collections section.
In the Receivables Account Information section:

- Enter the Established Date (required).
- Enter the Initial Repayment Due Date (required).
- Enter the Payment $ Amount to be collected on a monthly basis (required).
- Enter the Projected End Date, if known.

In the Payee Information section:

- Enter the Payee Name to identify who is responsible for making the repayments (required).
- Enter the City, select the State and enter the Zip Code for the payee address (required).
- Complete the non-required fields as appropriate.

Click Submit.

Results of the Procedure:

Receivables account is created.

Updated 05/02/2014