For clients who verify and record payments through the reporting function in DebtBook. The application now automatically produces adjusted Reporting Notes that reflect actual payments compared to the scheduled payments in the debt profile.
Before you can use Reporting Notes on the Actuals setting you first need to set the Reporting Origination Date and initial balances for the funds on that starting date.
To do this start on the Profile Summary page and select the Settings drop down in the upper right of the screen immediately below the circular User Menu. From that drop down select Payment Reporting Settings.
On the Payment Reporting Settings page you will select a date that aligns with your fiscal year-end and represents the starting point for reporting actual payments in DebtBook. This will likely be the last fiscal years end so that you have a confirmed amount for each fund that can tie out to your annual financial statement.
Once you have selected the date click the blue save button in the upper right.
The following modal will appear to confirm that you want to save this date. Select Save.
After setting the Reporting Origination Date the system will provide the par outstanding for each obligation split by fund according to the profile schedules. You then have the ability to modify the par outstanding for each obligation and confirm the par outstanding for each Fund as of the Reporting Origination Date. Any amounts paid above or below those amounts through payment reporting will then be reflecting in the "Actual" Reporting Notes Export.