Options Setup Window
Use this window to enter, edit and display default options information. The
company name entered here appears on 1098 and 1099 forms only.
Form 1098/1099 Reporting Information
Company Name
Enter the name of the management company. This name appears on 1098 and 1099
forms. An entry of up to 30 characters is required.
Phone 
Address
Use these Radio Buttons to view either the primary phone number or the primary
address. These fields are read-only. Phone and address information must be
entered using the ADDR/PHONE button.
The ADDR/PHONE button brings up the ADDRESS/PHONE window. After address and
phone information is saved in this window, it will be displayed under the NAME
fields on the OPTIONS SETUP WINDOW.
Address, line 1
Enter the street address for the mailing address, as you want it to appear on
reports and notices. The entry can be up to 30 characters in length.
Address, line 2-4
Use lines 2-4 for entering the remaining address information, including
CITY/STATE/ZIP. On any line, if you enter a five digit U.S. zip code and nothing
else, the line will be filled in with the city, state and zip. For foreign
addresses, simply enter information as received, such as the example below:
Phone Numbers
Enter each phone number on a separate line. For valid input, the number should
be in XXX-XXXX or XXX-XXX-XXXX format, including the dashes. If you are
entering international numbers, input the number as is. When you press ENTER, you
will receive an error message about the number being improperly formatted. To keep
the foreign format, press OK.
Use this address on Client Statements and Notices
Use Company address on Client Statements and Notices
Select a radio button to specify whether to use the address entered in the OPTIONS SETUP or to use the Company name and address that correspond to each client. The
address will be used on all statements and notices for the client, including the
Client Collection Statement. This selection will not change the address printed
on 1098s and 1099s, which is the address entered here in the OPTIONS SETUP.
Client Collection Statement
Create Client Payable
Select this check box if you want to have a Payable transaction created for
each client when the Final Client Collection Statement is run. This process will
create the Payable necessary for printing client disbursement checks. The
default for this box is checked.
Create Collection Fees Payable
Select this check box if you want to have a Payable transaction created to
disburse collection fees to your management company. Each time the Final Client
Collection Statement process is run, a Payable transaction will be created. You
will need to manually enter the corresponding Receivable transaction. The
default for this box is checked.
Payment Application Default
Select a radio button to specify in what order payments will be applied
towards FEES, PRINCIPAL and ESCROWS.
Country: USA Canada Other
Select one of the three radio buttons to specify the country where the
management company is located. If you select CANADA, the field to the right of CANADA is enabled and the label GST TAX RATE appears above it. Enter the percentage charged as GOODS AND SERVICES TAX in the field. For Canadian companies, the GST TAX RATE is a required field.
When CANADA is selected, the labels of certain fields are changed throughout the system.
For example, instead of CITY/STATE/ZIP, the label for address fields is changed to CITY/PROV/PC (CITY, PROVINCE and POSTAL CODE).
General Ledger Information
Use these two fields to specify the STARTING and ENDING INCOME LEVEL to be used in charts of accounts for all companies in the system. The
selections you make here will affect the entire accounting system. See the CHART OF ACCOUNTS WINDOW for more information on INCOME accounts in the general ledger.
Starting Income Level
Enter either a 4 or a 5 as the STARTING INCOME LEVEL. A default of 4 is provided, which corresponds to standard accounting practices.
Ending Income Level
Enter either a 4 or a 5 as the ENDING INCOME LEVEL. A default of 4 is provided, which corresponds to standard accounting practices.
Check Type:
Select one of the three radio buttons to specify what type of check your
company is going to use:
MICR (Magnetic Ink Character Recognition) check printing adds efficiency to your
operation since it allows you to print checks on blank check stock. You are no
longer forced to load and reload different preprinted check forms into your
printer. For this option, you must use special magnetic toner in a Hewlett-Packard
or compatible laser printer. See APPENDIX A to obtain a list of toner suppliers that can confirm the availability of MICR
toner cartridges for your laser printer. You must specify the printer port for
your MICR in the Port field. Use F2 or right mouse click for a pick-list.
For the MICR option to work correctly, you are required to have made entries
into two fields in the BANK WINDOW: ABA # and TRANSIT #.
Select the PREPRINTED LASER or PREPRINTED DOT MATRIX radio button if you want to use preprinted check forms. If you need to use
preprinted checks for multiple accounts, it is necessary to order the same format
and style of checks. (The color of the checks as well as the account and bank
numbers can differ.) See APPENDIX A for a list of suppliers of checks and other forms for use with Contract
Collector.
Show All Detail on Stubs
For PREPRINTED LASER or PREPRINTED DOT MATRIX checks, if you check this box,
checks with more than twelve lines of detail will print an additional voided
check to provide all lines of detail. If this box is not checked, only twelve
lines of detail will print.
For MICR printing, all detail will be printed regardless of this check box.
MICR Horizontal Position Adjustment
If your are contacted by your bank about unreadable MICR checks, you may need
to adjust the position of the MICR font slightly. The MICR HORIZONTAL POSITION ADJUSTMENT allows you to move the font by decipoints, one tenth of a point, to the right
or left. Use a plus (+) sign to move the fonts to the right, or a minus (-) to
move the fonts to the left. With either the plus or minus sign, you need to
assign a numeric number between 1 and 99—one is the slightest adjustment and 99
the largest adjustment.
Coupon Type:
Select one of the three radio buttons to specify what type of payment coupon
your company is going to use:
OCR (Optical Character Recognition) coupon printing adds efficiency to your
operation. It allows you to print coupons with a magnetic strip containing the COMPANY ID, CONTRACT ID, COMPANY DIRECT-DEPOSIT LOCKBOX NUMBER and the amount of the PAYMENT. The bank will then be able to process the payments faster by scanning the
coupons, rather than processing by hand. For this option, you must use special
magnetic toner in a Hewlett-Packard or compatible laser printer. See APPENDIX A to obtain a list of toner suppliers that can confirm the availability of OCR
toner cartridges for your laser printer. You must specify the printer port for
your OCR in the Port field. Use F2 or right mouse click for a pick-list.
For the OCR option to work correctly, you are required to have made an entry
in the ACCOUNT field of the DIRECT DEPOSIT BOX INFORMATION section of the COMPANY window.
Select the PREPRINTED LASER or PREPRINTED DOT MATRIX radio button if you want to use preprinted coupons. See APPENDIX A for a list of suppliers of coupons and other forms for use with Contract
Collector.
Use the UDF LABELS button to bring up the USER DEFINED FIELD window up. This window is used for labeling the USER DEFINED FIELDS used in the CONTRACT WINDOW. These optional fields are used in addition to the standard fields in the CONTRACT WINDOW. The actual data is entered in the SETUP sub-window of the CONTRACT WINDOW.
Amount 1, Amount 2
These fields are used for entering dollar amounts as necessary. Label each one
that you use in a clear and concise manner.
Date 1, Date 2
These fields are used for entering dates. Label each on in a clear and concise
manner.
Short Text 1, Short Text 2
These fields are used for entering short text of 15 characters or less. Label
each one in a clear and concise manner
Long Text 1, Long Text 2
These fields are used for entering long text of 30 characters or less. Label
each one in a clear and concise manner.
( ) Future Pmt ( ) Princ Red
This radio button is used to determine the default setting on the Payment
Window for how any sum paid beyond the amount due will be distributed.
FUTURE PAYMENT - the extra amount will be applied and distributed toward
future payments (principal, interest, escrows and fees).
PRINCIPAL REDUCTION - the extra amount will be applied to reducing the
principal balance of the contract.
MICR Position Adjustment – Vertical setting
An entry in this field will shift the MICR line up or down. It moves in
deci-points. A negative integer will move it down, a positive will move it up.
This should only be adjusted on the bank's recommendation.