Summary

An Assessment Type is a collection of billing details, fee codes, and other miscellaneous information that are all used in conjunction with a particular type of assessment. By creating a number of assessment types, you can attach a specific assessment type to each new assessment you create rather than having to specify billing details, attach fee codes, and enter other information on the new assessment. The use of Assessment Types makes the creation of assessments more efficient. It also lends itself to various forms of assessment classification for reporting purposes.

If you edit an existing Assessment Type, any assessments created with that type will not automatically update with the new Assessment Type settings.

Step by Step

1     Open the Assessment Type Selection window.

• The Assessment Type Selection window (SA> Maintenance> Assessment Type) displays all the assessment types created in the application.
• Highlight an assessment type and click the Delete icon   or press DELETE to delete the selected assessment type.
  • Assessment types that are attached to active assessments cannot be deleted.
• Highlight an assessment type and click the Modify icon or press ENTER to edit the selected assessment type.
• Click the Create icon or press INSERT to create a new assessment type. This will open the Assessment Type Maintenance window.

2     Create a new assessment type.

• The General tab of the Assessment Type Maintenance window is used to specify the general assessment type details.
• Enter a unique Assessment Type code for the new assessment type.
  • This is the only required field on the Assessment Type Maintenance window. Once the assessment type is saved, this field cannot be edited.
  • This code can be up to 16 characters in length.
• Specify an Assessment Prefix for the new assessment type.
  • Every assessment generated from this assessment type will be numbered with this prefix.
• Click the Billing Cycle field label to select the billing cycle that any assessments created from the open assessment type will be included in.
  • Billing Cycles are created and maintained on the Billing Cycle Maintenance window (SA> Maintenance> Billing Cycle).
• Use the Bill Method drop-down menu to specify how billed invoices will be calculated.
  • Select Fixed Bill to keep the total bill amount constant on all billed invoices, with the ratio of principal and interest changing based on the amount of interest calculated.
  • Select Fixed Principal to keep the principal amount the same on all billed invoices, with the interest amount (and total bill) subject to change depending on the number of days between billings.
• The Fee Code fields are used to attach fee codes to the assessment type. Fee codes act as placeholders for the accounts receivable, revenue and cash accounts that are used when financial transactions are generated on the assessment.
  • Click the Principal Fee Code field label to specify the principal fee code, and the associated GL accounts, that will be attached to any assessments generated from this assessment type. If the selection window does not display a principal fee code, you will need to create one.
  • Click the Interest Fee Code field label to specify the interest fee code, and the associated GL accounts, that will be attached to any assessments generated from this assessment type. If the selection window does not display an interest fee code, you will need to create one.
  • Click the Credit Fee Code field label to specify the credit fee code, and the associated GL accounts, that will be attached to any assessments generated from this assessment type. If the selection window does not display a credit fee code, you will need to create one.
  • Fee codes are created and maintained on the Fee Maintenance window (SA> Maintenance> Fee).
• Enter an Interest Rate to specify the yearly rate of interest billed against the principal.
  • This number is stated as a whole number percentage. For example, 7.5% would be entered as 7.5000, NOT 0.0750.
• The Grace Period Days field is used to specify the number of days after the Interest Begin Date that interest will not be charged on an assessment created from the assessment type.
  • The Interest Begin Date is specified when a new assessment is created.
  • The grace period cannot exceed 30 days when the assessment is set up with a monthly billing cycle, 90 days for a quarterly billing cycle, 180 days for a semiannual billing cycle and 360 days for an annual billing cycle.
• The Term field is used to set the length, in months, of any assessment generated from this assessment type.
• Click the Initial Status field label to specify the initial status of any assessments created from this assessment type.
  • Assessment statuses are user-defined codes used to describe the current state of an assessment. The Billing, Letters and Past Due processes can be configured to only include assessments with specified statuses. The Letters process can also be used to change the assessment status for any assessments included in a batch.
  • Assessment statuses are created and maintained on the Assessment Status Maintenance window (SA> Maintenance> Assessment Status).
• Click the Payoff Status field label to specify the final status of any assessments created from this assessment type when those assessments are paid off.
• Enter a Description for the new assessment type. This description will populate the Assessment Description field on any assessments generated from this assessment type.
  • This field can be up to 60 characters long.
• The Notes field is used to enter optional notes on the assessment type. These notes will not populate an assessment generated from the assessment type.
  • This field can accommodate up to 2000 characters.

3     Complete the Miscellaneous tab.

• The Miscellaneous tab allows the user to enter miscellaneous information regarding the selected assessment type.
• Miscellaneous field labels are created and maintained on the Miscellaneous Field Label Maintenance window (SS> Utilities> Miscellaneous Field Labels).
• Click the Save icon when the assessment type is complete.

4     Track any changes made to the assessment type.

• Click the Audit Trail icon to open the Audit Trail window.
• Use the Search Criteria section to sort the displayed audit trail.
• The Audit Trail History section will provide details about any changes made to the assessment type record including the date of the change, type of change made, user that made the change, and data table that was edited.
• The assessment type audit trail data will not populate new assessments generated from the assessment type.