Summary

There are two ways to generate a deposit on a UB customer account: the New Account Wizard and the Cash Entry window in the Cash Receipts module. No matter which way a deposit is created, there are three transactions created when a deposit is recorded on a customer account.

• A billing transaction type is created to record the receivable for the deposit amount.
• A payment transaction type is created to record the receipt of cash for the deposit.
• A deposit type transaction is created to record the obligation to repay the deposit.

Once deposits have been added to customer accounts, you have the option of factoring interest on those deposits. The interest factored on deposits can either increase the deposit balance or it can be used to reduce the balance on the UB customer accounts. Interest can either be factored regularly using the Factor Interest process (UB> Adjustments and Fees> Factor Interest), or it can be factored when deposits are refunded using the Refunds process (UB> Refunds> Generate).

Set up the UB module

You must create a deposit adjustment type code and deposit fee codes before you can create deposits in the Utility Billing module. You must also define the deposit settings on the Setup window (UB> Utilities> Setup). If you want to be able to create deposit on UB customer accounts from the Cash Receipts module, you will also have to set up a Cash Receipts module type code.

New Account Wizard

The New Account Wizard allows you to charge deposits on customer accounts when the account is created. To create a deposit, add a deposit fee code to an account template or manually add the deposit fee code to the customer account during the Connection Charges step of the New Account Wizard. The deposit fee code will determine the amount of the deposit, the service that will be charged and the GL accounts used in the journal entries to create the deposit on the UB customer account.

When the customer account and deposit is created in the New Account Wizard, the deposit transaction is created in a UB Cash Receipts batch.

Cash Deposits

A deposit can be entered on a UB customer account by creating a receipt in the Cash Receipts module. If a deposit is created from the New Account Wizard, the wizard will create a Billing transaction in UB Adjustments and Fees. When the Billing transaction is paid, a Payment transaction will be created to pay the Billing line and a Deposit transaction will be created to record the deposit amount on the customer account. A Cash Deposit is different because it records the Billing, Payment and Deposit transactions in one step.

The cash deposit is created using a Cash Receipts module type code. The CR type code is used to link the CR module with a fee code in the UB module. The GL accounts used in the journal entry transaction and the service to charge will be pulled from the UB fee code with the same code as the CR module type code.

Factor Interest 

If you would like the customer deposits to accumulate interest, you can factor interest in UB Receipts or in Refunds when the deposits are being refunded. Interest factored in UB Cash Receipts can either be added to the deposit amount or used to lower the account balance.

Interest can be factored in:

• UB> Adjustments and Fees> Factor Interest
• UB> Refunds> Generate

Refund Deposit

Deposits are refunded in UB> Refunds.

Deposit Reports 

The Deposit Transactions Report (UB> Reports> Deposit Transactions) displays deposit and interest transactions filtered by transaction date, fee code and/or billing cycle. The transactions included on the report can be totaled by UB customer account or by batch number.

The Deposit Balances Report displays the deposit balance on UB customer accounts. The report can be filtered by billing cycle, deposit fee code and customer account status (Active, Delete, Final, etc.). The report also includes an option that allows you to include refunded deposits on the report.