Operations Documentation

Richoux

Associates,

Inc.

Operations Documentation

Date

/ 26 July 2010
System / FINCO
Document No. / FIN-0049 How To Do End of Month Procedures Mr. Dees
Operation / To complete the End of Month procedures for Mr. Dees’ offices.
Long Description / There should only be one report dated the end of the month. If the end of the month is being held open to a later date, test balance and backup only on those days.
Follow step 1 to net down (refund interest and insurances) any accounts that are to be charged off.
Follow step 2 to change the account status to P & L (charge off).
Follow step 3 to balance at the end of the day.
Follow step 4 to display the Daily Report.
Follow step 5 to backup the FINCO system.
Follow step 6 to print the Daily Report and the Late Charge Assessment Report.
Follow step 7 to do an EOM backup # 1.
Follow step 8 to purge customer accounts if preferred.
Follow step 9 to do the EOM procedures.
Follow step 10 to do EOM reports.
Follow step 11 to print chart of accounts.
Follow step 12 to do and EOM update.
Follow step 13 to do an EOM backup # 2.
Follow step 14 to upload the FINCOCB.ASC file to the reporting agency used (Equifax, Experian or Trans Union) of your choice.
Follow step 15 to email the ANICO insurance company’s ANIDISK.ZIP file or create insurance diskette if using Gulfco.
Follow step 16 to print the Delinquency Report.
Operation Steps / Step 1: To net down (refund interest and insurances) any accounts that are to be charged off.
1.  From the Main Menu choose option 2 – Payments, option 2 – Loan Payoff.
2.  Enter the customer’s name, loan number or social security number.
3.  In the Change date: field type the date with a four digit year format then press the Enter key. Note: If the message ? Date out of valid range is displayed then the date field does not have a four digit year format. (Ex: change 063010 to 06302010).
4.  In the Unpaid late chgs: field type 0.00 then press the Enter key. Note: If the message WARNING: Late charge assessment report not run is displayed, disregard due to the fact that the late charges are zeroed out anyway.
5.  Press the Enter key beside all rebate fields to accept the interest and insurance rebate or refund amounts.
6.  In the Amount of payment: field type 0.00 then press the Enter key. The How paid? PO field will be displayed.
7.  Type the cashier initials then press the Enter key.
8.  Print or post on the ledger card. Follow steps below to change the account status to P & L.
Step 2: To Change The Account Status to P & L (charge off).
1.  From the Main Menu choose option 2 – Payments, option 7 – Change Account Status.
2.  Enter the customer’s name, loan number or social security number.
3.  When prompted for the Enter new status: field, change it to option 2 – P & L.
4.  When prompted for the Charge — off date: field, enter a four digit year format then press the Enter key. If the date isn’t in a four digit year format the Interest rebate: field may not display 0.00 and the New balance: field may not display the same amount as the Current balance: field. (Ex: change 063010 to 06302010).
5.  Press the Enter key beside the Interest rebate: field.
6.  The How paid? CS field will be displayed. Type in the cashier initials and press the Enter key.
7.  Print or post on the ledger card.
Step 3: To balance at the end of the day.
1.  Add all money, checks, money orders and petty cash in cash drawer to get the total cash drawer amount.
2.  Subtract the opening cash drawer amount from the total cash drawer amount to obtain the deposit amount for the end of day’s business.
3.  Add any deposits made since the last daily report was printed.
Step 4: To display the Daily Report.
1.  All other users must be signed out of FINCO before doing a Daily Report.
2.  From the Main Menu choose option 5 – Daily Report, option 1 – Daily Report.
3.  In the Cash Drawer Balance: field type the opening cash drawer amount and press the Enter key.
4.  In the Bank Deposit: field type the bank deposit amount and press the Enter key.
5.  In the Display or Print (D or P)? field press the D key for display.
6.  The New Loans screen will be displayed, press the Enter key to continue repeatedly to go through all of the new loans.
7.  The Payments screen will be displayed, press the Enter key to continue repeatedly to go through all of the payments.
8.  The Bank Balance screen will be displayed, check the Cash over/short amount on the Bank Balance screen.
9.  If the Cash over/short amount is 0.00 then the end of day’s business is balanced. Go to step 5 below to backup the FINCO system.
10.  If the Cash over/short amount is NOT 0.00 then the end of day’s business is out of balance. Recount the cash, re add the checks, check amounts on screen for cash payments, check payments, and amounts other monies received. Follow instructions, ‘How To Determine Cash Drawer Overage/Shortage on Daily Report’.
11.  Once the end of day’s business is balanced or all means of finding the error have been exhausted and the manager has agreed to pull the report out of balance, go to step 5 below to backup the FINCO system.
Step 5: To backup the FINCO system.
1.  All other users must be signed out of FINCO before doing a backup.
2.  Insert the storage media used to backup the FINCO system such as a diskette (Drive A) or flash drive (Drive D, E, F, G, J, Z). Label diskettes, the day of week and backup number. Ex: Monday Backup #1
3.  From the Main Menu choose option 9 – Utilities, option 1 – Backup/Restore, option 1 – Daily Backup if using diskettes on win98 or flash drives or option 2 – Daily Backup – Windows XP only if using diskettes on Windows XP.
4.  In the Backup to which drive (A,B,D,E,F,G,J,Z,X)? field press the drive letter of the storage device used at your company then press the Enter key.
5.  If the Which Day (M,T,W,H,F,S,E,N,X)? field is displayed, press the letter key that indicates which backup is to be completed.
6.  The message, FINCO Daily Backup has completed successfully! Further logons have been enabled. Press any key to continue… will be displayed for a good backup. Press a key to return to the Backup/Restore menu. Choose option 10 – Main Menu. Repeat steps on a second diskette or flash drive making sure to label the diskette and eject all flash drives properly. Keep one backup at the office and take one to an offsite location in case of damage to the office so that the customer database is secure.
Step 6: To print the Daily Report and the Late Charge Assessment Report.
1.  Ensure the system date is correct with the end of the month date and there is enough paper to print the report.
2.  All other users must be signed out of FINCO before doing a Daily Report.
3.  From the Main Menu choose option 5 – Daily Report, option 1 – Daily Report.
4.  In the Cash Drawer Balance: field type the same opening cash drawer amount as in step 4 above and press the Enter key.
5.  In the Bank Deposit: field type the same bank deposit amount as step 4 above and press the Enter key.
6.  In the Display or Print (D or P)? field press the P key for print.
7.  Press the Y key to print.
8.  Ensure the cash over/short displayed is 0.00 with the exception of pulling the report out of balance – use the same amount as in step 4 above. The following messages will be displayed:
Completed daily payments report.
Completed daily outstanding summary.
Completed daily bank balance report.
Cash over/short = 0.00
9.  Press the Y key to continue.
10.  The general ledger clearing accounts will be displayed. THIS IS THE LAST CHANCE TO ABORT THE DAILY REPORT.
11.  If the clearing accounts are 0.00 the press the Y key to accept the Daily Report. See Figure 1 below.

Figure 1
12.  If clearing accounts aren’t 0.00 DO NOT accept the report. If the problem can’t be determined then call customer support at 1-800-586-4098 for assistance. ONCE THE DAILY REPORT HAS BEEN ACCEPTED, IT CANNOT BE REPRINTED WITHOUT FIRST RESTORING A BACKUP. CALL CUSTOMER SUPPORT TO RESTORE ANY BACKUPS.
13.  The Daily outstanding balance report screen will be displayed. This is a report of the month to date totals broken down by class of loans. It can be reprinted as many times as needed.
14.  In the Print classes with no activity (Y/N)? field press the Y or N key depending on your decision. See Figure 2 below.

Figure 2
15.  The message, ‘Completed daily outstanding balance report’ will be displayed.
16.  In the Accept report (Y/N)? field press the Y key. See Figure 3 below.

Figure 3
17.  CHECK ALL THREE COLUMNS ON THE PRINTED REPORT OF THE OUTSTANDING BALANCE SUMMARY ARE THE SAME. IF THEY AREN’T, ASTERICKS (***) WILL BE DISPLAYED. FOLLOW STEPS IN DOCUMENT, ‘HOW TO DETERMINE WHY OUTSTANDING BALANCE REPORT DISPLAYS ASTERICKS’ OR CALL CUSTOMER SUPPORT AT 1-800-586-4098.
18.  In the Do you want to run the Late Charge Assessment Report (Y/N)? field press the Y key. This report must be printed everyday to assess customers of their late charges. See Figure 4 below.

Figure 4
Step 7: To do an EOM backup # 1.
1.  All other users must be signed out of FINCO before doing a backup.
2.  Insert the storage media used to backup the FINCO system such as a diskette (Drive A) or flash drive (Drive D, E, F, J, Z). Label diskettes, the day of week and backup number. Ex: EOM Backup #1
3.  From the Main Menu choose option 9 – Utilities, option 1 – Backup/Restore, option 1 – Daily Backup (if using flash drives or running win98) or option 2 – Daily Backup – Windows XP (if using diskettes on Windows XP only).
4.  In the Backup to which drive (A,B,D,E,F,J,Z,X)? field press the drive letter of the storage device used at your company then press the Enter key.
5.  If the Which Day (M,T,W,H,F,S,E,N,X)? field is displayed, press the E key that indicates the EOM backup # 1 is to be completed.
6.  The message, FINCO Daily Backup has completed successfully! Further logons have been enabled. Press any key to continue… will be displayed for a good backup. Press a key to return to the Backup/Restore menu. Choose option 10 – Main Menu. Repeat steps on a second diskette or flash drive making sure to label the diskette and eject all flash drives properly. Keep one backup at the office and take one to an offsite location in case of damage to the office so that the customer database is secure.
Step 8: To purge customer accounts if preferred. May be done at any time after a backup or it may be done now as part of the EOM procedures.
1.  All other users must be signed out of FINCO before purging customers. From the Main Menu choose option 6 – General Ledger, option 8 – Purge Customers.
2.  The Purge Customer File screen will be displayed. Press the Y key to print the Purge Report. See Figure 1 below.

Figure 1
Step 9: To do the EOM procedures.
1.  From the Main Menu choose option 6 – General Ledger, option 4 – End of Month Procedures.
2.  The E.O.M. PROCEDURES screen will be displayed. Choose option 2 – E.O.M. Insurance Postings to print the insurance company checks.
3.  The E.O.M. Insurance Postings/Checks screen will be displayed. Press the Y key to continue. See Figure 1 below.

Figure 1
4.  The postings for all insurances will be displayed. Press the Enter key after each screen to continue. See Figures 2 – 6 below.

Figure 2

Figure 3

Figure 4

Figure 5

Figure 6
5.  The checks for all insurances will be displayed for printing. Ensure that the Check # field is the same as check number printed on the check. See Figure 7 below.

Figure 7
6.  Modify the check number if necessary then press the Enter key. Press the Y key to print or cut the check. Continue to finish cutting the insurance checks.
7.  From the E.O.M. PROCEDURES menu choose option 4 –E.O.M. Transactions Report.
8.  The E.O.M. Transaction Report – G/L section screen will be displayed. Press the Y key to print the report. See Figure 8 below.

Figure 8
9.  Press the Y key to accept the E.O.M. G/L Transaction Report. See Figure 9 below.

Figure 9
10.  From the E.O.M. PROCEDURES menu choose option 7 –E.O.M. G/L Activity Report.
11.  In the Which one? field choose option 1) All G/L transactions for month.
12.  Press the N key so that the prior month’s G/L transactions do not print. Press the Y key to print the G/L Transactions Report. See Figure 10 below.