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August 2020
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Volume 32, No. 8
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ACH Monetary Transfers
Electronic transfer of funds is becoming a common practice for most people and agencies. There are two options available within the GMS accounting software to post these transfers.
Cash Receipt
If you have received funds from someone, you will use the Cash Receipt form to record the transfer. When entering the data, be sure to check the ACH Credit box. When this box is checked, “ACH” will appear on all appropriate reports rather than a check number.
General Journal
If the funds are being transferred from your bank account to someone else, you will use the General Journal form to record the entry. You will begin by checking the ACH Debit box. After checking this box, the vendor code and name fields will appear. Make your vendor selection. Once the GJ batch is posted, this payment information will appear on the Payment History and be added to the file used for 1099 printing.
Cash Receipt
If you have received funds from someone, you will use the Cash Receipt form to record the transfer. When entering the data, be sure to check the ACH Credit box. When this box is checked, “ACH” will appear on all appropriate reports rather than a check number.
General Journal
If the funds are being transferred from your bank account to someone else, you will use the General Journal form to record the entry. You will begin by checking the ACH Debit box. After checking this box, the vendor code and name fields will appear. Make your vendor selection. Once the GJ batch is posted, this payment information will appear on the Payment History and be added to the file used for 1099 printing.
RLSS List Views
Looking for a quick way to locate a loan or an activity for a loan? Try the List Views! On the Loan Master menu, you will find Loan List View and on the Loan Activity menu, you will find Loan Activity List View.
Click once on any column title to sort that column in ascending order. Click twice for descending order. Once you have located your loan or activity, click on that row to open it up on the screen. You can also click and hold on a column to drag it to another position should you wish to view the items in a different columnar order.
Click once on any column title to sort that column in ascending order. Click twice for descending order. Once you have located your loan or activity, click on that row to open it up on the screen. You can also click and hold on a column to drag it to another position should you wish to view the items in a different columnar order.
Loan List View: Loan List View contains the columns of Loan ID, Company Name, Last and First Name, both Address lines, City, State, Zip, Status, Type, Loan Amount, Closing Date, Federal ID and Social Security Number. Every loan in your portfolio is included.
Some suggestions for using Loan List View are:
Some suggestions for using Loan List View are:
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Loan Activity List View: The columns of Loan ID, Borrower, Activity Date, Activity Total, Activity Type, New Balance, Paid-thru Date, Next Payment Due Date and Activity Notes appear in Loan Activity List View. The last activity entered for every loan can be viewed in the Loan Activity List View.
Suggested uses for Loan Activity List View are:
Suggested uses for Loan Activity List View are:
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Viewing Changes Included in an Accounting or RLSS Revision
Periodically, we release revisions so that your software always remains up-to-date with current regulations. If you would like to know the changes to your software included in these revisions, we always include a recap in your Help Manual.
Click on Help/Help. Click on the Contents button. Scroll to the bottom of the Table of Contents where you will see “List of Changes” in the Accounting Help Manual and “Revision Changes” in the RLSS Help Manual. Click on the title that applies to the system you are logged in to, where you will then view the dates of the past few revisions released. Clicking on the date listed will allow you to view all changes included in that revision. You will also be able to view the revision number. This can be compared with your software by clicking on Help/About to view the version number listed to confirm you are using the latest software available. As of July 28, 2020, the most current Accounting version is 2.4.74.155 and RLSS version is 1.1.1.19.
Click on Help/Help. Click on the Contents button. Scroll to the bottom of the Table of Contents where you will see “List of Changes” in the Accounting Help Manual and “Revision Changes” in the RLSS Help Manual. Click on the title that applies to the system you are logged in to, where you will then view the dates of the past few revisions released. Clicking on the date listed will allow you to view all changes included in that revision. You will also be able to view the revision number. This can be compared with your software by clicking on Help/About to view the version number listed to confirm you are using the latest software available. As of July 28, 2020, the most current Accounting version is 2.4.74.155 and RLSS version is 1.1.1.19.
October Regional Training Cancelled
Due to the ongoing COVID-19 virus we regret to announce that we have cancelled the Regional Training event for October at the Hyatt in Louisville, KY. This was done out of concern for the safety of our clients, presenters and GMS staff. We will miss seeing the attendees at the event.
Please check back at GMS University for future training options and please stay safe.
Please check back at GMS University for future training options and please stay safe.
WEBINARS
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To save or print the August issue of GMS News:
| August 2020 Newsletter.pdf |
