Place in Repossession

The Place in Repossession is used to indicate that the account is in repossession.

Follow these steps to submit a Place in Repossession transaction:

1. From the Accounting views, select the Place in Repossession transaction from the Select a Non-Monetary Transaction drop down list.  The Place in Repossession dialog is displayed.

2. Indicate the Effective Date for the repossession.  The date may be entered in the appropriate format or selected using the Calendar widget.  The date specified may not be in the future.  If a date is not specified it defaults to the Current Processing Date.

3. Select the Save push-button.  The transaction is submitted to Recovery Accounting.  If the transaction posts successfully the dialog is closed and the originating view is displayed.  If the transaction does not post successfully, the errors are displayed in the Messages dialog.

4. To cancel the transaction, select the Cancel push-button.  When the push-button is selected, the dialog is closed and the originating view is displayed.