When you first open the Reporting Payments module you will see a series of filters above a table of payments coming due similar to the dashboard. The page defaults to showing all payments over the next 90 days.
You can filter this list:
By Profile (if you have multiple profiles in your organization)
By payment status (all, unverified, verified, or paid)
By debt type (all, long term, commercial paper, draw program) and,
By Date Range (All, Current Fiscal Year, Last 90 days, Next 90 days, Year-to-Date, custom)
Identify the payment that you want to review and click into that row. You will be taken to a Verify Payment page where you can verify the principal and interest amounts against your invoice.
You can increase or decrease the actual payment amount in the principal and interest field based on discrepancies in your invoice. You can also add additional amounts by using the "other" field.
Any changes you make to the principal and interest amounts will be distributed pro-rata based on the principal or interest percentage splits in the Allocations table in the center of the page.
Any amounts entered in the "Other" field will flow to the Allocations table as a new line item. In order to proceed you are required to add the Fund, Purpose and GL# information for your “Other” amount. To do this, click on Edit Allocation Table and three free text boxes will appear in the Fund, Purpose and GL# columns for you to populate.
By clicking on the Edit Allocation Table, you can also change the variance amounts as needed. Please be advised that the sum of the variance amount in the Edit Allocation Table MUST equal your adjusted amount in the Payment Amounts section. In the video below, $0.80 was added to the interest. If you want to see the $0.80 allocated differently, click the Edit Allocation Table, then go to the amount verified column and make the necessary changes. If the sum (in this example) does not total $.80, you will get an error message in the Payment Amounts Field and you will not be able to verify the payment.
Note: Once you begin to edit amounts in the Allocations table you will no longer be able to adjust the total Principal and Interest in the Payment Amounts field. By selecting “Reset Allocation Table”, the Allocation table will reset to DebtBook’s default pro-rata allocation and you can once again edit the Payment Amounts field.
In order to resolve the discrepancy, return to the amount verified column and make the necessary adjustments. Once the variance amounts are matched, you can then click on Mark as Verified.
Prior to verifying the payment, you can add additional notes in a free text section at the bottom of the screen by selecting Add Note.
You can either verify the payment as accurate and approved for payment or select Back in the top left corner of the payment page, which will not save any of the changes made.
Once you verify the payment, the status will be updated on the reporting payments screen and will now show as verified.
To mark a payment as paid you can open the reporting payments screen and filter to only see verified payments.
When you click into a verified payment, a Payment Confirmation page will open where you will see the verified payment amount and new fields to enter the Date Paid, Payment Method and a Memo field.
Once you Mark as Paid, the status will be updated on the reporting payments screen and will now show as paid.
At the bottom of the screen you will see a History section which acts as an audit trail of actions taken on that payments including: Confirmed, Verified and Reset.
The action buttons at the top right of the page now show the option to Reset Status to Unverified or Mark as Paid. If you reset the payment, it will reverse the verification and require the payment to be verified again before being marked paid.
Once you confirm the payment, the status will be updated to Paid on the reporting payments screen and a green PAID icon will appear on the Reporting Detail page of the completed payment.
On either the Verify or Payment Confirmation pages you have the ability to generate a PDF export of either screen using the "Export Data" button in the top right corner. Your PDF export will show all of the data on whichever page you are currently viewing.