Receiving Auction Proceeds in Sitelink

anuschka

I'm a newbie to the auction process.  We did all the notifications and held the auction.  I processed the auction in Sitelink to generate the letter to send to the tenant.  Sitelink still shows the unit in the delinquent tenant's name with their balance due.  How do I record the proceeds from the sale? (sold for less than the debt on the unit).  I didn't want to do the Move-Out and then not be able to undo it if it was wrong.

87ambie

You should check your rules for what to do where you reside. We move a tenant out and then record the payment on the account after the move out has been processed. Keep in mind that if you make a mistake you can always reverse the move out in the same day. 

Orkocean

Assuming you followed all applicable state statutes regarding the lien process and everything was done right you now would apply the payment to the unit. Hopefully you charged the winning bidder the appropriate state sales tax if needed as well. Random numbers to give an example., Unit a10 sold for $200, go into unit a10, apply a $200 payment to the account and then move it out. Typically you want to apply the payment before moving it out, if your company does not send past due balances to collections then upon move out you usually will write off the remaining as bad debt. When you write off bad debt it credits the remainder, once a credit or payment as been done during the move out process you can no longer just reverse the move out so it's better to be done prior to moving out. And if you company settings allow it you can reverse a move out up to 5 days from the day of move out.

prowlett

What letter were you trying to generate? I believe I am having the same issues as you are anuschka.

We just adjusted the Past Due Schedule to streamline the auction process. We are running into some issues with Processing the Auction task. There is a form that is attached (Auction Proceeds). This form does not auto fill what the unit sold for or, if the unit sold for more than what was due, what amount is to be refunded. We took payment prior to processing the Auction task and this led to issues - mostly for units that sold for more than what was due since it didn't recognize the auction was finalized (we did schedule the auction and we took payment after that time period) and it assumed the tenant paid in full and then some. This removed the tenant from the Auction task. My question is at what point do we take payment - before or after we process the Auction task? Prior to revamping the auction process and setting up the Past Due Schedule, managers would note the auction winners name, phone number, and amount the unit was sold for in the Notes section of the account. I think anuschka and I are looking for the same thing - where does Sitelink log the auction, how does it, when do we take the payments, and how do we make sure the Auction Process comes to fruition properly.

Any thoughts? 

MamaDuke7

prowlett said:  My question is at what point do we take payment - before or after we process the Auction task? 

Process the auction task as soon as the auction is complete.  That way, if you charge an auction fee, that is added to the account before you process the payment.  Then process the payment.  Then move the unit out.  That completes the process.

db3369

I have a question.  I sold a unit at auction and when I go to process payment it won't let me because the unit is over 200 days late and it wants a full payment.  What do I do?

AnitaJohnson1269

@db3369 I'm not sure if there is another (easier) way.  I go to Setup>Program Defaults and in the Payment tab I will change the number of days past due (in your case 200+) save and run the payment.  Then go back and change the past due number back. 

i43storage

db3369 said:

I have a question.  I sold a unit at auction and when I go to process payment it won't let me because the unit is over 200 days late and it wants a full payment.  What do I do?

Pocket the cash. 

NMRE_storage379

Orkocean said:

Assuming you followed all applicable state statutes regarding the lien process and everything was done right you now would apply the payment to the unit. Hopefully you charged the winning bidder the appropriate state sales tax if needed as well. Random numbers to give an example., Unit a10 sold for $200, go into unit a10, apply a $200 payment to the account and then move it out. Typically you want to apply the payment before moving it out, if your company does not send past due balances to collections then upon move out you usually will write off the remaining as bad debt. When you write off bad debt it credits the remainder, once a credit or payment as been done during the move out process you can no longer just reverse the move out so it's better to be done prior to moving out. And if you company settings allow it you can reverse a move out up to 5 days from the day of move out.

Hi @Orkocean, does this mean that the remaining amount we are sending to Collections, we are not allowed to also write off as bad debt, when we move out the tenant? I thought you can send remaining delinquent balance to Collections, but when you move out the tenant, you need to still mark that balance as bad debt. Thank you for your help.

ESS

AnitaJohnson1269 said:

@db3369 I'm not sure if there is another (easier) way.  I go to Setup>Program Defaults and in the Payment tab I will change the number of days past due (in your case 200+) save and run the payment.  Then go back and change the past due number back. 

You can just set it to 0 and it will allow partial payments at any time.
We have both bottom sections set to 0

ESS

NearMeStorageOK said:

Orkocean said:

Assuming you followed all applicable state statutes regarding the lien process and everything was done right you now would apply the payment to the unit. Hopefully you charged the winning bidder the appropriate state sales tax if needed as well. Random numbers to give an example., Unit a10 sold for $200, go into unit a10, apply a $200 payment to the account and then move it out. Typically you want to apply the payment before moving it out, if your company does not send past due balances to collections then upon move out you usually will write off the remaining as bad debt. When you write off bad debt it credits the remainder, once a credit or payment as been done during the move out process you can no longer just reverse the move out so it's better to be done prior to moving out. And if you company settings allow it you can reverse a move out up to 5 days from the day of move out.

Hi @Orkocean, does this mean that the remaining amount we are sending to Collections, we are not allowed to also write off as bad debt, when we move out the tenant? I thought you can send remaining delinquent balance to Collections, but when you move out the tenant, you need to still mark that balance as bad debt. Thank you for your help.

That's what I understood how he said it. If at anytime you pull from collections, you can always go back to the moved out account and write it off. When you move them out keep the top bubble selected "Take a payment for remaining charges".
When this box pops up, click No, then it will complete the move out and ask how you want the receipt printed