2. Posting payments and creating subsequents
Bring up the first block and lot on our “vendor worksheet”.
Next select “H=Lien Summary”
Underneath the Block, Lot and Lien Holder Information is the certificate information and it is color coded in the following manor:
- The Certificate is in RED
- Subsequents are in YELLOW
- Year End Penalty (YEP) is in MAGENTA
- Municipal Charges are in GREEN
- Redeemed Certificates are in BLUE.
If there are multiple certificates please note which one you wish to work with and select the appropriate one by pressing the key.
If there are multiple pages of information press the <PG_DN> key for the next page.
Also please note what date (system date) you are using, all interest is calculated to that date unless you select option “C=Calc” to change the date of processing for this record only.
On the action line there are six options:
- <ESC> exit with out changing anything
- D=Edit/View Detail (not implemented yet).
- <PG_DN>next page of information.
- <TAB> next certificate.
- C=Calc, calculate to a specific date and use that date for the subs and payment. If “C” is not used the date used will be the default system date.
- S=Pay Subsequent lien.
So lets see how all this works, we will post this record and then take a look at the break down.
Interest Calculation tax to 11/27/18
Interest Calculation sewer to 11/28/18
Subsequents paid already so total paid to date is $768.21 so there will be an 8/18% split on the next sub payment, after that all subsequents are at 18%.
NOTE: interest rate on cert is 0% with a $300.00 premium.
So I’m going to select “S” Pay Sub for Liens.
The calculation is presented to you for inspection and to match with the vendor work sheet.
NOTE: if calculation presented and the work sheet do not match exactly do not post using this method.
So at this point we just press the breakdown above will be posted and the subsequents created, this will return us to the 17 tax record, select “R” for return so we are back in the 2018 tax record.
So lets look at how the subsequent records look, there will be two because of the 8/18% split First the 8% subsequent.
The 2nd subsequent which also has the utility.
Corresponding Transaction(s)Tax:
Corresponding Utility:
