Transactions - Contract Module

To add a transaction:

1. Click Add Item.

   This displays in the Actions menu on the right side of the page.

2. Select the payment group from the Group field.

   Create a new group or category.

   Groups are the first level of organization in Lucernex. Groups are the parents of types, and grandparents of categories. Groups, types, and categories are used to simplify reporting.

3. Select the expense type from the Type field.

   To add an expense type, follow the Add an Expense Type procedures.

   Important!

   For transactions, the Type is associated with account numbers in your integrated accounting system. The Type is also associated with your lease accounting schedule. Ensure that you select the correct type for your transaction.

4. Select the payment category from the Category field.

   Create a new group or category.

   Categories are the third level of organization in Lucernex. Categories are the children of types, and grandchildren of groups. Groups, types, and categories are used to simplify reporting.

5. Enter the following dates:

   You can also click Calendar to open the Date Picker and select the appropriate date.

   • Effective Date / Effective End Date: Enter the date the transaction is effective.

     This can also be thought of as your billing period.

   • Posting Date: Enter the date to send the transaction to the accounting system.

   • Due Date: Enter the the payment due date.

   • Coverage Begin / End Date

6. Enter the amount of the payment in the Base Amount field.

7. Enter the date of the invoice in the Invoice Date field.

   You can also click Calendar to open the Date Picker and select the appropriate date.

8. Enter the invoice reference number in the Invoice Ref# field.

9. Enter the tax amounts in currency values for these fields:

   • Primary Tax

   • Secondary Tax

   • Tax Amount #3

10. Enter any shipping costs in the Freight Amount field.

11. Enter any other amounts in the Other Amount field.

12. Select the Taxes Included In Amount? check box if taxes are included in the value you entered in the Base Amount field.

    The Total Amount becomes editable. If you need to make changes to the value in the Total Amount field, you may now do so.

    The value in the Currency defaults to the default currency on your contract. If you want to change the currency, select the appropriate currency from the field.

13. Enter a description of the payment in the Description field.

14. If this transaction is an accounts receivable item, select the A / R Flag check box.

    These items are also known as income items.

    As part of their lease, lessees (typically sub-lessees) may sometimes receive a discount if payments are made within a certain period before the payment due date. If your System Administrator is leveraging Lucernex's Early Payment Discount Option for A/R Leases, this may impact the Transaction Payment Due Date.

15. If this transaction is a credit item, select the Credit Flag check box.

16. Enter a remittance message in the Remit Message field.

    This is the message that will appear on the memo line of a check.

17. Enter the internal reference number, if you have one, in the Internal Ref# field.

18. Select the payment method from the Payment Method field.

    Create a new group or category.

19. Enter the bank routing number in the Bank Routing# field.

20. Enter the bank account number in the Bank Account# field.

21. Enter the payment date in the Payment Date field.

    You can also click Calendar to open the Date Picker and select the appropriate date.

22. Enter the amount paid in the Amount Paid field.

23. Enter the payment / check reference number in the Payment/Check Ref# field.

24. Select the organization from which this payment should be debited from the Organization field.

    To add an organization, follow the Add an Organization procedures.

    You can view an organization’s information by selecting an organization from the field and then clicking the View .

25. Select the vendor that this payment should be paid to from the Vendor field.

    To add an employer, vendor, or legal party, follow the Add a Vendor procedures.

    You can view an vendor’s information by selecting a vendor from the field and then clicking the View .

    Note:

    Since you are creating a transaction manually, the One-Time Expense check box will be automatically selected.

26. Enter the account reference number in the Acct/Ref# field.

27. Enter any comments in the large field in the Approval / Additional Comments section.

28. To add supporting documentation to your transaction:

    1. Click Add Documents.

    2. Upload a Document.

29. Click Save Changes.

    This displays in the Actions menu on the right side of the page.

    The page refreshes. If there are allocations or taxes associated with the expense setup, the Allocate Transaction? window opens. The window will populate with multiple allocation options, depending on how your expense setup is configured:

    • If you have multiple vendor or expense allocations, you will be prompted to choose which allocation you want to use for the transaction.

    • If the effective date and the due date of the transaction fall in different allocation terms, the window will ask if you want to allocate based on the effective date or the due date of the transaction. For example, review the data in the table below.

      Example One-Time Transaction Allocations

      Item	Date OR Date Range
      Vendor Allocation A	01/01/2020 – 12/31/2020
      Vendor Allocation B	01/01/2021 – 12/31/2021
      Effective Date of One-Time Transaction	12/20/2020
      Due Date of One-Time Transaction	01/31/2021

      Since the Effective Date of the transaction falls during the term of Vendor Allocation A and the Due Date of the transaction falls during the term of Vendor Allocation B, Lucernex would ask if you want to allocate using the effective date or the due date.

    • If taxes are configured for your expense setup, you will be asked if you want to apply taxes to the transaction.

30. Do one of the following:

    • If you want to apply one or more of the options in the window:

      1. Choose the appropriate Expense or Vendor Allocation options from the ones provided.

         The options will vary depending on how your expense setup is configured.

      2. If you want to apply tax rates, select the appropriate check boxes.

         The tax rate options will only appear if they are applicable to the expense setup.

      3. Click Yes.

         The transaction appears in the Contract Payments List.

    • If you do not want to apply any of the options, click No.

      The transaction appears in the Contract Payments List.

31. To approve the transaction, see the Approve Payments procedures.

To edit a transaction:

1. Select the transaction you want to edit from the Contract Payments List.

   The transaction data populates on the page.

2. Make your changes.

3. Click Save Changes.

   This displays in the Actions menu on the right side of the page.

   The page refreshes. Your changes are saved.

To delete a transaction:

1. Select the transaction you want to delete from the Contract Payments List.

   The transaction data populates on the page.

2. Click Delete Item.

   This displays in the Actions menu on the right side of the page.

   A dialog opens, asking you to confirm your choice.

3. Click Yes.

   The page refreshes, and the transaction no longer appears in the Contract Payments List.

To take action on a transaction:

1. Select the transaction you want to take action on from the Contract Payments List.

   The transaction data populates on the page.

2. Scroll down to the Approvals / Additional Comments section.

3. If this transaction should be marked with a hold flag, select the Hold Flag check box.

4. Once the transaction has been processed, select the Processed Flag check box.

   Once processed, a transaction is assigned a transaction number which can be used to identify the transaction.

   Important!

   Once a transaction has been marked as processed, you cannot make any further changes. Do not select the Processed Flag check box unless you are certain you do not want to make any further changes. To learn more about the Processed flag, see our article Hold and Processed Flags.

5. Click Save Changes.

   This displays in the Actions menu on the right side of the page.

   The page refreshes. Your changes are saved.

A duplicate transaction will be marked as a “one-time expense" even if the original is not.

The following values will be copied in a duplicate transaction:

• Group

• Type

• Category

• Base Amount

• Currency

• A / R Flag

• Credit Flag

To duplicate a transaction:

1. Select the transaction you want to duplicate from the Contract Payments List.

   The transaction data populates on the page.

2. Click Copy Transaction.

   This displays in the Actions menu on the right side of the page.

   The Payment Transaction Copy window opens.

3. Select or clear the check boxes in the Copy section to indicate the aspects of the original transaction you want to copy.

4. Click OK.

   The transaction is duplicated. A success dialog box appears.

   The transaction will still need to be approved. See the Approvals Process procedures to learn how.

The pass-through payments functionality is used to pass responsibility for a payment from a master contract to a sublease. Pass-through payments can only be created at the master contract-level. Make sure that you are viewing your master contract.

To create pass-through payments:

1. Click Pass-Through Payments.

   This displays in the Actions menu on the right side of the page.

   The Create Pass-Through Payments window opens.

2. Select the check boxes next to the sublease contracts for which you want to create pass-through payments.

3. Click Create Pass-through payments.

   A success message appears at the top of the window.

4. To view the pass-through payments, click the name of the sublease you want to view.

   The contract name in the success message is a link to the transactions page of the sublease.

   The pass-through transaction appears in the Transactions List.

Transactions generated by Lucernex have a Batch ID in the Internal Account Coding section of the Transactions page. Each Batch ID is unique and has a prefix that tells you how the transaction was created.

To view the type of record which generated a transaction:

• Click the value in the Batch ID field.

  A View [Record Type] window opens. This window displays data relevant to the record type that was used to generate the transaction.