Summary

The idea of having one or two owner statement months open can be very confusing if you do not know where you are when closing the month.

Procedures

2 months are open if the top part of the P-E screen looks like this;

Enter	Y to enter transactions to statement month ending June 30, 199_.
	N to enter transactions to statement month ending May 31, 199_.

You will need to close May in order to post transactions to July. To close May 199_, have all the owner charges been posted? If yes go to P-S-S to print the May owners statements. A current month owners statement must be printed before the system will allow the owners statement month to be closed and balances transferred. The top of the P-S-S screen will look like this;

Print or Display Owners Statements

Once the Owner Statements have been printed, look at the date line on the owner's statement, the date will read: FOR MONTH ENDING May 31, 199_.

If the statements are OK, the owner balances can be transferred. This procedure will close the statement month for May 199_. You will not be able to go back to this previous month after the balances have been transferred.

Once the owner balances have been transferred, you will have only one month open in which to post owner charges. (Note: this process will not complete successfully if an Owner's Statement has not been printed after a correction or a newly entered transaction.)

1 month is open if the P-E screen looks like this;

	Processing for statement month ending May 31, 199_ has been
	completed and new owner balances computed. No changes can be
	made to these statements once this is done.

With 1 month open, the top part of the P-S-S screen will look like this;

Print of Display Owner Statement

If b>Owner's Statements are printed at this time, the date line of the statement will read like this: FOR May 1, 199_ TO May 31, 199_.

At this point transactions can only be posted to the open month (June 199_). Only historical owner's statements can be printed. Although it is possible to use the historical mode of printing owner statements for the current month, it is not recommended. The system uses a different method of calculating annual statistics for historical statements which may result in inaccurate statistical information. If the historical mode is used for the current months statements. Further historical owner's statements do not update an internal print flag. This flag needs to be updated to allow owner balances to be transferred.

When time comes that the Owner's Statements must be printed for this open month, the Advance Open Month step must be done P-S-C. This allows users to begin entering charges for the second month (July 199_). (Note: First Resort will give the user a message that "the Statement printing for the previous business month has not been completed, or new balances have not been transferred to current", if two month are open.)

Additional monthly cycle information is located in the on-line Help on the Transfer New Owner Balance screen P-S-N.