Cash Receipts Stage 1

Overview of IL172

This document describes the processes used to enter payment receipts and attribute them to the appropriate financial vehicle (investment, loan, line of credit, or portfolio) in the DDI system. It addresses how to record daily incoming payments (checks, money orders, credit-card payments, etc.), as well as how to link these payments to the investments/loans/lines of credit/portfolios with which they are associated.

Note: Loans, lines of credit, or portfolios must be set up in DDI before you will be able to reference them in Payment Processing. However, you can establish a new investment in Payment Processing after selecting the individual payment to apply to it.

To access the payments processing area:

• From the DDI Connect main menu, double-click Financial Services
• Double-click Data Processing
• Double-click Cash Receipts Stage 1. You will see this screen:

Whether you are creating a new batch or opening an existing one, you'll want to verify the date field to make sure it is correct. The system will default this date to the business date. You now have two batch options:

These options are:

• Mailroom - if this type of batch is selected, the person who enters the batch items in Stage 1 cannot process the items in Stage 2 Payment Processing
• Cashier - if this type of batch is selected, only the person entering the batch items in Stage 1 can process the items in Stage 2 Payment Processing

Click the appropriate icon. The system will now show you this screen:

To work with a batch that you've already started, you can double-click it to open. To start a new batch, click the New batch icon on the toolbar:

This will open the New batch screen:

You have the following options on this screen:

• Bank acct: The system will use your default account in this field. To change the account, click the drop down arrow and select from a list of accounts in your system
• Suspense: If your organization uses a suspense account as a temporary account in receipt of funds, you can click the drop down arrow to select from a list of available suspense accounts
• Batch type: If your organization has different batch types set up in the system, you can click the drop down arrow to select from a list of available batch types

You can also change the date of the batch on this screen. And, if you wish to enter a control total, you can do so here. A control total indicates the total amount of receipts in this batch, and serves as a checkpoint for batch processors to ensure that all items have been entered.

When you have selected the settings you wish to use for the batch, click OK. This opens the batch item entry screen:

To add an item to the batch, click the New item icon on the toolbar:

When you click the icon, this screen will appear:

To add the item:

• Click the drop down arrow where you see Check. This field allows you to tell the system what method of payment you are entering
• Check #: If a check, wire, or other method of payment that has an identification number, enter it in this field
• Amount: Enter the amount of the payment item
• Reference: If this payment item is for an established account, such as a loan payment or investment deposit, you can enter the associated number here. For example, you receive a payment for loan #123. Enter 123 in this field so that the system can automatically associate the payment during payment processing

If you are using a scanner and have configured it for use with DDI Connect, you can now scan in the image of the payment item or related documents to attach to the payment item. For information on adding scanned items, please reference this document: Adding Scanned Images to Cash Receipts

When you have entered the information, click OK. The system adds the item to the batch info, and activates the fields for the next entry:

Repeat these steps until you have finished adding all of the items for this batch. When you are done, click the X in the upper right corner of the screen to close the batch.

The next step is to perform Payment Processing.