We have an owner that receives a JIB statement, however, they have not been paying their bill so my boss had the purchaser hold their runs and forward their money us. Their JIB is now paid in full and every month their account ends up with a credit. Is there a way to issue a "refund" and have it post to the JIB?

Are you saying that the check you get covers all the expenses and a little is left over, so you want to mail the owner a check? If this is the case then we do not have a good way to do this in the software. You can accomplish this by Clearing the owner's suspense under the utilities menu and marking the option to create a check if balance is positive. This will create a check to send him but will not give you any detail, reports, or show up on the 1099s for the cleared amount.

Probably a better way to do this is to change the owner from a JIB owner to a net owner. You would then enter the check that the purchaser sends you in the production receipts screen. The software would create a statement for the owner when the Revenue Run is closed showing both revenue, expenses, and the net. If the owner has a balance then it will create a check for him. This will give you good detail on reports and will then show up on the 1099. This is probably the better way to handle this. It will take a little setup though. Let me know if you are going to do it this way and I will give you the detail on what you need to do.

If the check you receive does not cover all the expenses then you could just enter a negative expense using a "refund" expense category and that would deduct it from his expenses.

Top

Return to SherWare's Knowledge Base