PTA S/C Statements to be sent with remittances
Would be great if the relevant S/C statement was sent with Remittance Advices (similar to how RCTIs are generated along with payments where required).
Currently, we have to manually run the distribution file per PTA, after every pay run. This file includes all subcontractor statements on the whole PTA. This mean's subcontractors receive a statement when no payments have been made or retentions transferred - some are months old, previously sent, or have a nil balance. This creates lots of confusion for the subbie.
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Company
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Apollo Property Group
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Job Title / Role
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Accountant
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I need it...
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Yesterday...Come on already
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that could be a possibility.
Our plan is to auto create the ABA file for transfer with the creation of
the Trust Journals. We might look at doing this piece first and then we can
expand to the possibility of linking the statements to the transfer to
streamline further.
cheers
Hi Andrew,
That's a good point. The retentions do get transferred to our RTA on the same day, however our current process is to check the "Trust Journal Work Centre" after we have processed the payment runs. We use these to determine the retention transfers required. Could it be possible for the "Transfer as a Journal" function/when we post the journal as the trigger for the S/C statements to be generated?
Thanks,
Emily
Hi Emily,
Lets talk about this at some stage. The problem with sending the Subbie
statements with the Invoice Payment Remittance advice, is that you may not
at that point have transferred the retention to your retention trust
accounts. Do you see that as being an issue?
cheers
Andrew