Accounting - Special Assessment

Navigation: Corporation Details > Special Assessments
Purpose: To enter and track Special Assessments

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The Special Assessments is used to enter any Special Assessment that the Corporation has.  It works the same as the Assessment with the only difference that you can indicate what months the Special Assessment charge is posted to the Owner Ledger and if you would like the charge to have the payment i.e. PAP or PDC to be auto applied (pay the Special Assessment).

To use the Special Assessment you must navigate to Corporation Information-Special Assessment.

Once the Special Assessment opens, you can enter the required information.

• Set the effective date as the start of the fiscal year.
• Enter the total assessment amount (for multi-year assessments, break them down by year).
• Specify the months owners will be charged.
• Indicate Auto-Pay if PAP or PDC are covering the assessment.
• Notes and Description are optional, as "Special Assessment" will automatically appear in the Owner Ledger.

Once all fields are completed, press save to finalize.

The PAP will automatically sync with the Special Assessment charge for the designated months, as long as it is set to sync with the assessment. Clicking "Update PAP" will add the Special Assessment to the existing PAP payment.