Explains what Suspense Receipts are in RMS, why they occur, and how they are represented in financial reports.

Overview

Suspense Receipts are the recorded movements of unallocated Receipts in RMS.

• Cash Accounting properties will notice this total value of movements included on the Management Cash/Charge Report, Daily Cash Report and Generic Financial Export if selected.
• The Total Charges and Total Receipts for any given date will ordinarily not equate to the same value. When they do, it is usually coincidental.
• Suspense Receipt Amount demonstrates the movements of additional funds that were not yet allocated to an actual charge anywhere in RMS (e.g., Deposits or Overpayments).
• Whilst Receipt Allocation to Charges is managed on an account-by-account basis in RMS, an overall record of the movement of the unallocated amount of all Receipts is retained by RMS per date.

Key Points

• Recorded movement of unallocated funds.
• Not individually recorded on a transaction-by-transaction basis.
• Used by Cash Accounting to track movements of funds.
• Will not include any Tax or GST, as taxes are associated with charges and have funds allocated against them.

Example

The example below represents a total of charges and receipts applied system-wide on the basis that no other financial data exists. It demonstrates how Suspense Receipt movements occur when Receipt Allocation to charges occurs in RMS.