RecTrac 10.1 Reference Guide

RecTrac 10.1 Reference Guide
How are Inter-Fund Control Accounts Used in RecTrac?
This topic only applies if your organization operates with more than one fund.
For examples of how and when the inter-fund accounts should be used for each refund type, see:
RA GL Entries
RN GL Entries
RF GL Entries
RR GL Entries
Refund Types and What They Mean
Refund Type G/L Entries & What Happens When You Use It
Apply to
Household
Balance (RA)
Refund from
Cash Drawer
Now (RN)
Refund Later
from RecTrac
(RR)
Refund Later
from Finance
(RF)
DR Revenue - Pay type 99
CR Control Account - Pay type 99
During the cancellation refund process, the control account is credited in
anticipation of the funds being used for future enrollments, passes,
reservations or purchases. If the customer does not use the funds, they may
be refunded in the future by using the "Credit Balance Refund" program.
DR Revenue - Pay type 99
CR Control Account - Pay type 99
DR Control Account - whatever pay type is being taken out of the cash drawer
During the cancellation refund process, the control account is debited using
whatever Refund Code corresponds to the type of payment you are physically
giving the customer (check, cash, voucher, etc.).
If the Keep 'RR/RF' In the Control
Acct As a CR toggle is checked
(ON)
DR Revenue - Pay type 99
CR Control Account - Pay type 99
(When Checks are printed: DR
Control Account - Pay type 97)
During the cancellation refund
process, the control account is
credited in anticipation of refund
checks being printed/posted at a
later date.
The Refund Check Post process will
post a debit entry to the control
account for the amount of each
check being printed/posted.
DR Revenue - Pay type 99
CR Control Account - Pay type 99
(Manual Entry: DR Control Account
- Pay type 98)
If the Keep 'RR/RF' In the Control
Acct As a CR toggle is blank (OFF)
DR Revenue - Pay type 99
CR Control Account - Pay type 99
DR Control Account - Pay type 97
During the cancellation refund
process, the control account is
debited.
Therefore, the Refund Check Post
process will not post a debit entry to
the control account for the amount of
each check being printed/posted.
DR Revenue - Pay type 99
CR Control Account - Pay type 99
DR Control Account - Pay type 98
During the cancellation refund
Vermont Systems, Inc. 11 06/09/08