Core Reports: Setting Up ARC/BSP Balances

ARC/BSP balances prior to the start of Trams, need to be calculated and entered into Trams Back Office. Then when ARC/BSP withdrawals take place, the unsettled ARC/BSP Net Remits are present in the ARC/BSP General Ledger Account. 

ARC/BSP Settlement if there is Old Data or Converted Data in TBO 

1. Select Payment|ARC(BSP) Settlement.
2. Leave the Amount field and Payment Type set at the default, but change the Payment Method to OTHER.
3. For the ARC/BSP Settlement Date, use date of Sunday prior to the cutover date.
4. Type in “To Start Trams” in Remarks field.
5. For the ARC/BSP Period, input the earliest possible date of invoices included in the settlement in first field and use the date of the Sunday prior to the cutover date in the To field. Click OK.
6. Once inside the settlement feature, note the amount of the invoices at bottom of settlement screen and input this into the Amount field on the top and indicate the Payment Type (Received From or Paid To) at this time.
7. Click on Close All and click OK to process. DO NOT CREATE A JOURNAL ENTRY WHEN ASKED.
8. Now go to Reports|Core|ARC or BSP and run report with dates set one day prior to the startup date. Make sure this total agrees with previous system’s total. Retain this amount to enter into General Ledger (see next section, General Ledger Setup).

Only the interfacing of new records starts building the ARC/BSP Core Report for use after the StartUp Date. Do the ARC/BSP Settlement when received to reconcile the bank account and close off items on ARC Core Report. 

For Clients Who Do Not Have Old/Converted ARC/BSP Data 

1. A different way to determine the ARC/BSP balance as of the end of that month is to determine the last draft or deposit in that month from ARC/BSP and what ARC/BSP week that pertained to. The week following that week is still open.
2. Total up ARC/BSP invoices that belong to the ARC/BSP week prior to the startup date. Retain this amount to enter into the General Ledger (see next section, “General Ledger Setup”).

First ARC/BSP Settlement: If Payments were Made to ARC/BSP  

1. Select Payments|Made, choose Cash as the Payment Type, Type “First ARC/BSP Settlement” in the Remarks field.
2. Choose profile type of “Other,” and the Name, “ARC/BSP Balances.”
3. If ARC/BSP was paid, when the journal entry comes up, Credit the correct Bank Account, and Debit the ARC/BSP Balances account. Click OK.

First ARC/BSP Settlement: If Payments were Received from ARC/BSP:   

1. Select Payments|Received, choose Cash as the Payment Type, Type “First ARC/BSP Settlement” in the Remarks field.
2. Choose profile type of “Other,” and the Name, “ARC/BSP Balances.”
3. If the agency received money from ARC/BSP, Debit the correct Bank Account and Credit the ARC/BSP Balances Account. Click OK to save.

Only the interfacing of new records starts building the ARC/BSP Core Report for use after the startup date. From this point onward, do the ARC/BSP Settlement when received to reconcile the bank account and close off items on ARC/BSP Core Report.