Note

An asterisk (*) indicates a required field.

Preliminary

This field defaults to checked, which is the recommended choice. Accept the default to run a preliminary update that allows you to review and audit estimate recovery amounts and complete any edits necessary prior to running the final update. Or, uncheck to run a final update that bills estimate recovery amounts and prints the associated recovery statements.

Beginning * (MM/YYYY)

This field shows two date fields. In the first field, enter the first period of the recovery year to consider when calculating estimated recovery amounts using the format MM/YYYY. The second field, populates with the same date entry when it is tabbed through and cannot be edited.

For the Recovery Year Ending * (MM/YYYY)

This field shows two date fields. In the first field, enter the date the recovery year ended using the format MM/YYYY. The second field, populates with the same date entry when it is tabbed through and cannot be edited.

As of date

This date defaults to the date entered in the previous field, For the Recovery Year Ending. Accept the default or enter another date to indicate the date the estimated recoveries should be run as, using the format MM/YYYY.

Rebilling group code

Select the rebilling group code to include from the drop-down list. Rebilling groups are established on the Rebilling Groups Tab.

Transaction Description *

Enter a description for the recovery. When the process is run in final mode, i.e., Preliminary is not checked, the description prints in the header of the Invoice report that prints at the end of the Recovery report series; it will also become the transaction description for the charges that are created during the recovery process, shown in the Resident History Report. Note that if Preliminary is checked this field does not display.

Retroactive billing

If no recurring charge updates occurred after the first day of the recovery year, then this field is not displayed.

This field defaults to checked. Accept the default to calculate retroactive adjustment billings for any billing period after the first day of the recovery year. When  retroactive adjustment billings are calculated, the system automatically updates future charges with the newly calculated amounts. Or, uncheck to indicate retroactive adjustment billings should not be calculated.

Note

For more information, refer to Retroactive vs. Remaining Months.

Calculate Estimates based on Remaining Months

This field defaults to checked. Accept the default to calculate estimates based on a full year or adjust during the remaining months of the recovery year. Or, uncheck to indicated estimate calculations should not be based on remaining months.

Note

For more information, refer to Retroactive vs. Remaining Months.

Statement

Print Recovery Statements

This field defaults to checked. Accept the default to print recovery statements when the data is saved. Or, uncheck to indicate recovery statements should not print.

Document

Select a document to use for printing the recovery statements from the drop-down list.

Message

Open text field used for adding comments or text to print on the recovery statements.

Button

Reset

Use the Reset button to return the fields on the tab to their default values.

Process

Select the Process button to execute the Estimate Recovery function and display a report.

Cancel

Use the Cancel button to escape from a page without saving changes.

If both options are unchecked

The system processes the calculation based on the specified criteria, updates the tenant’s recurring charges as of the next Current Accounting Period.

If Retroactive Billing is checked

The system process the calculation based on the specified criteria, updates the tenant's recurring charges with those amounts and retroactively bills those amounts back to the tenant if the estimate calculations are run for any period after the first period of the Recovery Year.

For instance, if the Recovery period is 01/01/2005 through 12/31/2005 and Actuals are run on 03/07/2006 the system retroactively bills those amounts back to the tenant for periods: 01/2006, 02/2006 and 03/2006. This amount is billed as one lump sum on the last day of that period, 03/31/2006. When the system bills for the next full period, 04/01/2006 it bills the estimated recurring charges for the remaining periods of that Recovery Year.

Use this option to immediately update the tenant's recurring charges and to collect all retroactive billings at once. Tenants are billed the new amounts as part of this process.

If Calculate Estimates based on Remaining Months is checked

The system processes the calculation based on the specified criteria, bills the final adjusted amounts back to the tenant and updates the tenant's recurring charges. However, unlike the Retroactive option, it bills the final adjusted amounts back to the tenant and updates the recurring charges based on the remaining months of the Recovery Year.

Use this option to update tenant's recurring charges, recoup prior month's billings over the course of the year vs. retroactively billing one lump sum. Tenants are billed the new amounts as of the next Current Accounting Period.

 

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