Banner Accounts Receivable PLUS Loan Refunding

Transcription

1 Banner Accounts Receivable PLUS Loan Refunding Patch What can we help you achieve?

2 Confidential Business Information This documentation is proprietary information of SunGard Higher Education and is not to be copied, reproduced, lent or disposed of, nor used for any purpose other than that for which it is specifically provided without the written permission of SunGard Higher Education. Prepared By: SunGard Higher Education 4 Country View Road Malvern, Pennsylvania United States of America SunGard. All rights reserved. The unauthorized possession, use, reproduction, distribution, display or disclosure of this material or the information contained herein is prohibited. In preparing and providing this publication, SunGard Higher Education is not rendering legal, accounting, or other similar professional services. SunGard Higher Education makes no claims that an institution's use of this publication or the software for which it is provided will insure compliance with applicable federal or state laws, rules, or regulations. Each organization should seek legal, accounting and other similar professional services from competent providers of the organization's own choosing. Without limitation, SunGard, the SunGard logo, Banner, Campus Pipeline, Luminis, PowerCAMPUS, Matrix, and Plus are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. Third-party names and marks referenced herein are trademarks or registered trademarks of their respective owners.

3 PLUS Loan Refunding - Patch Accounts Receivable System Section 1 Plus Loans Enhancement Overview System Requirements Additional Documentation PLUS Loan Refunding - Process Prerequisites PLUS Loan Refunding - Process Flow Automatic Process Flow Manual Process Flow Changed Database Packages TB_RECEIVABLE_RULES (tgkb_acctrecv_r1.sql) Changed Forms Detail Code Control Forms (TSADETC and TFADETC) Changed Processes Auto Refund Credit Amt-Student (TSRRFND) Accounting Feed Process (TGRFEED) Student Refund Interface Process (FURAPAY) Section 2 Miscellaneous Miscellaneous Enhancement Problem Resolution Appendix A Report Samples

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5 Overview Section 1 Plus Loans Enhancement Overview Automated PLUS Loan refunding functionality has been enabled with Accounts Receivable (AR) /Finance to address the following RPEs: CMS-RPE30164, CMS-RPE38415, and #1-G6I79. Previously, a refund generated and calculated via the automatic refunding process was always refunded directly to the student. Now, if a refund due to the student is the result of a PLUS loan payment, and the parent did not indicate that the funds may go directly to the student, the refund is processed as an automatic check payable to the PLUS borrower instead of the student. Refunds are based on the balance for each PLUS Loan that has not been applied to charges on the student s account. System Requirements To access the current PLUS Loan Refunding functionality, you must install the following: Accounts Receivable patch p1-sl813_tas ( version of five objects). Finance patch p1-sl86y_fin ( version of one object). This patch will be rolled into the Finance 7.3 release scheduled for fall In order to install these patches, you must be at a minimum of the following: Accounts Receivable 7.3 (May 2006) Financial Aid (June 2006) Finance 7.0 (January 2005) Note: The Financial Aid release has dependencies on other products which must be followed. Because it adds columns to the RFRASPC table that are used to distinguish Parent PLUS from Graduate PLUS Loan funds, it is required in order to compile the AR objects. Confidential Accounts Receivable /Finance

6 Additional Documentation Financial Aid 7.6 release (August 2006) includes the release. Because the 7.6 release enables recording Parent address information on the Loan Application Form (RPALAPP), there is a functional requirement to install this version if you process manual PLUS applications. Additional Documentation For additional information about PLUS loans, please refer to the following documentation: Financial Aid Release Guide, Release Financial Aid Release Guide, Release 7.6 Financial Aid User Guide PLUS Loan Refunding - Process Prerequisites Following are the prerequisites that enable the PLUS Loan refunding. 1. A unique detail code must exist on TSADETC to be used exclusively for PLUS refunds to be sent back to the parent borrower. The Refund Code associated with this detail code must be valued to P (Parent PLUS). 2. Fund codes established on the Fund Base Data Form (RFRBASE) with the Federal Fund ID equal to PLUS must have the Direct Loan Indicator, Electronic Loan Indicator, or Manual Loan Indicator set to an appropriate value on the Fund Management Form (RFRMGMT). Parent refunds are created only when the value is P (Parent PLUS). Following are the data entry requirements for processing Parent PLUS loans. 1. For the refund to go to the parent, do not select the Parent PLUS to Student check boxes on the Direct Loan Origination form (RPALORG) for direct loans, the Electronic Loan Application form (RPAELAP) for electronic loans, or the Loan Application form (RPALAPP) for manual loans. 2. Be sure to provide a complete and accurate mailing address for the parent with the loan record on the Direct Loan Origination form (RPALORG), Electronic Loan Application form (RPAELAP), or Loan Application form (RPALAPP). 6 Accounts Receivable /Finance Confidential

7 PLUS Loan Refunding - Process Flow PLUS Loan Refunding - Process Flow Automatic Process Flow Following is a high-level look at the automatic PLUS Loan refunding process. 1. Disburse loan funds to the Student account using Banner Financial Aid disbursement (RPEDISB). For detailed information about RPEDISB, please refer to the Financial Aid User Guide. 2. Perform application of payments to apply any funds received for the student s record to any outstanding charges. 3. Execute the Auto Refund Credit Amt - Student process (TSRRFND) to allow refunding to PLUS Loan borrowers. Note: If a refund is calculated for a student s account and a refund is due, at least in part to PLUS loan proceeds, a refund is calculated for the parent borrower for the full portion attributable to the PLUS Loan. Additional refunds may be calculated that are payable to the student. 4. Execute the Accounting Feed Process (TGRFEED) to update the GURAPAY table with the parent borrower s name and address, as a one-time vendor. 5. Execute the Refund Interface (FURAPAY) to create the invoice records from the GURAPAY table. 6. Generate checks and distribute to the proper recipients. Manual Process Flow Following is a high-level look at the manual PLUS Loan refunding process. 1. On the student forms, you can enter the Parent PLUS refund detail code directly to the student s account if you populate the transaction number paid with the transaction number of a valid PLUS loan credit for the same term. Note: In this case, it is not necessary that the Parent PLUS to Student check box be cleared. This would allow a manual override to send a portion of the PLUS Loan proceeds to the parent, with the remainder refunded to the student via TSRRFND. The name and address information is not automatically created in the Account Detail Text table (TBRACDT) for PLUS refunds entered manually, but may be entered by the operator for informational purposes. Confidential Accounts Receivable /Finance

8 Changed Database Packages 2. Perform application of payments. 3. Refer to steps 4 and 5 of the Automatic Process Flow, above. Changed Database Packages TB_RECEIVABLE_RULES (tgkb_acctrecv_r1.sql) When editing a new Accounts Receivable transaction, if the Detail Code used has a Refund Code of P (Parent PLUS Refund), then the transaction number paid must be populated, and the transaction must point to a PLUS Loan credit from the same term that has a valid loan application with parent name and address. (For additional information about the relationships between Accounts Receivable and Financial Aid data, refer to Auto Refund Credit Amt-Student (TSRRFND) on page 8). Changed Forms Detail Code Control Forms (TSADETC and TFADETC) A new value of P was added to the refund code on this form. This new value identifies a detail code as a PLUS loan refund code. Only one active detail code can exist with a Refund Code value of P. Changed Processes Auto Refund Credit Amt-Student (TSRRFND) This process creates refund transactions to be fed to Finance. For sample output, refer to Report Samples on page 13. When this process is run, PLUS refunding is enabled if an active detail code exists on TSADETC/TFADETC with Refund Code set to P. If a student has Title IV credits, the system uses the following logic: 8 Accounts Receivable /Finance Confidential

9 Changed Processes 1. If a detail code is a PLUS Loan In the Financial Aid Fund Base Data (RFRBASE), the detail code (RFRBASE_DETAIL_CODE) is associated with Federal Fund ID PLUS (RFRBASE_FED_FUND_ID). 2. that is a Parent PLUS On the Fund Management (RFRMGMT) Packaging tab, the loan type is P=Parent PLUS (RFRASPC_DIRECT_LOAN_IND or RFRASPC_EL_IND or RFRASPC_MANUAL_LOAN_IND) 3. from an application refundable to the parent On the appropriate Loan form (RPAELAP, RPALORG, or RPALAPP), the Parent PLUS to Student check box is not checked (RPRLAPP_PLUS_TO_STUDENT is null or N) 4. disbursed through Banner Financial Aid Loan disbursement transaction number (RPRLADB_TRAN_NUMBER) matches receivable transaction number (TBRACCD_TRAN_NUMBER) 5. then create a refund transaction for the amount and with the term of the credit The parent name and address from the Loan Application (RPRLAPP) are included on the report and in the Account Detail Text table (TBRACDT). 6. and set the transaction number paid of the refund to the transaction number of the PLUS credit being refunded. Note that each PLUS credit is handled independently. If there is more than one credit (due to multiple borrowers or multiple disbursements of a loan received together), multiple refund transactions will be created. Any remaining credit balance after all PLUS Loans have been considered (including PLUS loans refundable to the student and non-title IV credits) will generate one refund to the student. As in the past, the transaction number paid for the other Title IV credits will be set to the transaction number of this refund. As with other credits being evaluated, the Except Term parameter can be used to exclude PLUS loans credits from refunding. Accounting Feed Process (TGRFEED) This process feeds the PLUS refund transactions to GURAPAY for refunding by Finance. If the transaction being passed to GURAPAY is the detail code on TSADETC with a Refund Code set to P, the refund transaction is a PLUS refund to the PLUS borrower. TGRFEED will retrieve the address from the Loan Application Confidential Accounts Receivable /Finance

10 Changed Processes (RPRLAPP) and update the GURAPAY table with the parent s name and address information as a one-time vendor. The Finance Invoice Number is now captured in the Accounts Receivable Document Number column for all refunds. Note: The address type in the GURAPAY record will be XX for Parent PLUS refunds. The address sequence number will be 0 if valid name and address were found, or 1 if there is required information missing. The following additional fields are populated: GURAPAY_LAST_NAME GURAPAY_FIRST_NAME GURAPAY_MI GURAPAY_STREET_LINE1 GURAPAY_STREET_LINE2 GURAPAY_CITY GURAPAY_STAT_CODE GURAPAY_ZIP GURAPAY_NATN_CODE Student Refund Interface Process (FURAPAY) This process takes Banner Student/Finance refund check transactions from the Accounting Feed Accounts Payable Table (GURAPAY) and creates Finance system invoices, which are ready to be posted unless an error occurs with the transaction. If an invoice is being generated due to a PLUS Loan refund to a parent, the parent s information is passed through to the invoice as a one-time vendor. To maintain an audit trail, the student s PIDM is passed through as the Vendor Invoice to the invoice header record. Note: Because the PLUS Refund transaction is created as a one time vendor, the address type and sequence are not populated in the invoice record. If the sequence number in GURAPAY is 1, indicating an error in the name and address data, the Error Report (FGRTRNR) will include a reference to the invoice and it will be left in Incomplete status so that a correction may be made. 10 Accounts Receivable /Finance Confidential

11 Miscellaneous Enhancement Section 2 Miscellaneous Miscellaneous Enhancement The Finance Invoice Number generated for each refund and inserted into the GURAPAY table by the feed process (TGRFEED) is now recorded in the receivable record in TBRACCD_DOCUMENT_NUMBER or the grant receivable record in TRRACCD_PAYMENT_ID if it is null. Problem Resolution TGRFEED (#1-LF8D4) Description: TGRFEED Accounting data were incorrect for Application of Payments on a Charge Detail Code using Location Code data with the G/L account for reporting purposes. The Line A Location Code information was ignored. Impact: TGRFEED did not handle Location correctly when feeding Application of Payment transactions. Resolution: Accounting data are now correct for Application of Payment Feed Record on a Charge Detail Code using Location Code data with the General Ledger account for reporting purposes. Confidential Accounts Receivable /Finance

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13 Report Samples Appendix A Report Samples This section contains report samples for TSRRFND. The output from this process now includes information about Parent Refunds Generated, Student Refunds Generated, and errors. Confidential Accounts Receivable /Finance

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15 PLUS Loans Enhancement Report Samples TSRRFND Report Sample (1 of 2) 22-AUG :10:04 BANNER University PAGE 1 Auto Refund Credit Amt-Student TSRRFND AS OF 22-AUG-2006 ID Name Code Refund Amount Address Miller, Sam R RFPL 2, PARENT : Mary M Miller 28 Keli Ave Mansfield, CA Miller, Sam R LMRF 2, a South St Great Falls, MT Morry, Sally M RFPL 3, PARENT : Susan M Morry 16 Parker Road Wakefield, MA Morry, Sally M RFPL PARENT : Stan D Morry *** WARNING *** ---NO ADDRESS Morry, Sally M LMRF 2, Sullivan Ave Marblehead, MA Myers, Stephen A RFPL 14, PARENT : Daniel D Myers 21 Friend Street Hamilton, Bermuda Myers, Stephen A LMRF Lewis Ave Epping, NH Accounts Receivable /FInance Confidential

16 PLUS Loans Enhancement Report Samples TSRRFND Report Sample (2 of 2) 22-AUG :10:04 BANNER University PAGE 2 Auto Refund Credit Amt-Student TSRRFND AS OF 22-AUG-2006 RPTNAME: TSRRFND VERSION: RUN MODE: RFND AUDIT/UPDATE MODE: U TITLE IV OPTION: A PLUS REFUND CODE: RFPL MINIMUM REFUND BALANCE: ADDRESS SELECTION DATE: 22-AUG-2006 ADDRESS TYPE HIERARCHY: 1MA 2PR DETAIL CODE: LMRF CASHIER USERID: RFNDLM PROCESS TERM: ENTITY TYPE: % CATEGORY HIERARCHY: INCLUDE/EXCLUDE: SELECTION TERM: PRINT ACCOUNT DETAIL: Y EXCEPT TERMS: SELECTION ID: APPLICATION CODE: CREATOR ID: USER ID: * * * REPORT CONTROL INFORMATION * * * REPORT TOTALS REFUNDS DUE: 26, RECORD COUNT: 3 16 Accounts Receivable /Finance Confidential