REVENUE CORRECTION - PROPERTY LEVEL

To do a Revenue correction at the property level, you will need to go to the menu item Change/Correct/Void (Revenue/Billing module).

Select R-3 Revenue Distribution Correction.

Set the type of correction in the Combination Type box. Enter the Property number and Deck number. Select the product code and enter the production date for the month you are running this correction for, or leave it blank through 12/31/9999. The Paid date can be used in lieu of the production date if desired. Click Next after selecting your filtering criteria.

TECH TIP: **Prior to running the Revenue Correction, it is recommended that the DOI is corrected to how you want it to disperse.

The Second Screen will give you the transactions for that property that meet your filtering criteria. It will auto-select those that you can adjust.  Review this information, and then click the Next button to continue.

The Third Screen will allow you to select an effective date to be used for the new distribution records.  You will then have the option to select to just create 100% entries to the same property if all that is needed is a change in the DOI.  If you need to change the new distribution to a new property, deck number, or even production date, this can be input here.  If you are utilizing the Pak Accounting severance tax module and you need the severance taxes to be recalculated, select the option to omit system-generated severance tax on the new distribution record.  If you do not want to redistribute these entries, you can select, don't create new 100% entries, and select a clearing account to post them to instead.  After selecting the necessary options, click Next and proceed to the finish.

The Fourth Screen will tell you that it is done combining suspense for Property.  Now, all you need to do is click List.

The Finish button will give you a list of what the effect was on your Suspense Change Log for this property.  Print this out to keep on file.

Reviewing the Correction

The correction is now complete. It creates a suspense entry for every distribution record that you selected to change for each owner from the original distribution historical file.

Additionally, the correction will create the Reversing Royalty Cutback Entries. After the distribution, the RSXXXXXXXX entries will have Paid Dates, and the net in the 96XX Account will be a total of one. The Royalty Cutback Account will have three entries that net to a total of one.

Correction - Original Entry

Correction - New Entry

If the original check stub invoice reference started with CRXXXXXXXX, there were no royalty cutback entries created. Due to the create 100% numbers option not being selected on the Division Order, there will be a new distribution that will create an RX invoice with no dates or royalty cutback entries. When the cycle is complete, the RXXXXXXXXX invoice will have paid dates, and the reversing entry will zero out.

To finalize the correction, you will need to run a Correction Cycle.

NOTES:

• If there is a problem with the correction, errors will be given that with additional information describing what could be causing the problem along with specifics as to the entry causing the error. Additionally, you will only see previously uncorrected items.
• This utility will include the production date on royalty cutback entries.