RecTrac 10.1 Reference Guide

Reference Guide RecTrac 10.1
Refund Type G/L Entries & What Happens When You Use It
During the cancellation refund
process, the control account is
credited in anticipation of refund
checks being printed/posted at a
later date.
We recommend that you do not
interface the pay type 98s to
Finance, as they will be posting
debits to their RecTrac control
account when they cut refund
checks. If you interface the type 98
entry, it will result in a double-debit
in Finance's G/L.
When Finance issues the refund
checks, you must manually post a
debit to the control account for the
total amount of refund checks
issued,
OR you run the RF Offset Post
program to debit the Control
Account.
How To Decide Which Refund Setup is Best
process, the control account is
automatically debited.
We recommend that you do not
interface the pay type 98s to
Finance, as they will be posting
debits to their RecTrac control
account when they cut refund
checks. If you interface the type 98
entry, it will result in a double-debit in
Finance's G/L.
RecTrac allows four different refund types, depending on your organization's needs and practices.
We recommend the following settings for the Keep 'RR/RF' In The Control Acct As A CR option in
Static Parameters Maintenance - G/L Screen.
Question If YES, If NO,
Question 1
Will you be printing refund checks for
RecTrac refunds using the RecTrac
Refund Check Print program?
Question 2
With Finance printing the RecTrac refund
checks, do you want to keep track of a
balance within RecTrac's Control
Account?
Question 3
Will you be able to get refund check totals
from Finance whenever RecTrac refund
checks are printed?
Question 4
Are you willing to post entries in RecTrac
periodically as you are notified that
Finance has cut refund checks?
Turn toggle ON
(RecTrac will net out
the Control Account
balance when you use
the Refund Check
Print program)
Continue to question 2
Continue to question 3 Turn toggle OFF (RecTrac will
net out the Control Account
balance every day)
Continue to question 4 Turn toggle OFF (RecTrac will
net out the Control Account
balance every day)
Turn toggle ON (You
would need to post
manual entries using
the RF Offset Post
program to net out the
Turn toggle OFF (RecTrac will
net out the Control Account
balance every day)
6/9/2008 12 Vermont Systems, Inc.