Before you begin:
Once the preliminary copy of the statements has been printed and checked for accuracy, you choose the Finalize Statements and Print Checks option from the Owners Reports Menu. Do not choose this option unless you are satisfied with the owner statements that you last printed. The finalize option updates the units balance forward with the last statement balance, updates the unit to date totals, updates the 1099 totals, creates the reservation general ledger transactions, prints the checks, prints the monthly reservation summary and archives the reservations and owner transactions that appeared on the statement. This option works in conjunction with the print statement option, meaning it is going to finalize what you last printed. This option always finalizes only the last statements that you printed.
What you did print out including the dates you selected, heading and other details you determined in Print Owner statements, will be displayed at the top of the screen.
Prompt descriptions…
Show:
Click the [Show] button to view what units are included in the finalize.
Exclude:
Choose [Exclude] to remove a unit from the finalize process.
Statements were not printed! Cannot finalize! [OK]
You will get this prompt if there are no statements to finalize. Choose OK. You must go back to Print Owner statements and print out exactly what you would like to finalize.
Statements did not Finalize! Must recover:
Starting check number:
Enter in the number on the first check in the series you are printing. (Settings for check style are in the Control File, General Accounting Screen #1).
Checks and check transaction date:
The system defaults to the current date but it can be adjusted.
GL close transaction date:
Enter the date you would like for the general ledger to close the transactions you are finalizing or select [current] for the current date.
Old reservations and transactions: [Archive] or [Delete]?
The most common choice here is to archive the reservations. You may then access them from a variety of screens. If you delete the reservations and transactions, they will no longer be available to you in any other menu.
Month to post Unit and 1099 totals:
This month is normally the same month as the statement heading. The Print Owner statement process and the Finalize process are set up to default to the month prior to the month you are in. For example, you would normally print and finalize June statements the first week in July.
Units to not finalize:
This allows you to leave out particular units you may need to do further adjustments on and still get the majority of your checks out.
[Exit] or [Continue]
Choose [Exit] to abandon the finalize.
Choose [Continue] to proceed
Continue with report? [Yes], [No]
Choose [Yes] to begin the finalize process.
Choose [No] to abandon the report.
Insert checks into printer [OK]
After you have inserted checks, click on [OK] to tell the computer to begin the printing of your owner checks.
Insert regular paper into the printer [OK]
Put regular paper into your printer to print out the monthly reservation summary report. After the summary report is printed, archiving will begin. Once the archiving is finished the statement finalize is complete.
FAQS: "When finalizing statements the power went off…"