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Continuation from Review Account balance:
If an advance payment exists in the ending balance, it must be transferred to the new unit owner’s account, subject to mutual agreement between both parties.
Follow the steps below to update the ownership tagging.
The Ending Balance Includes an Advance Payment
For any outstanding balance, a necessary balance adjustment should be performed.
On the concerned lot inventory/property name, navigate to the Account Summary tab
View the latest account with an active status.
Review Account Balance
Access or download the account ledger.
Check for any advance payments.
A balance update is required as part of the change of ownership tagging process.
The account has an advance payment
An invoice will be created to offset the outstanding balance and ensure the account balance is zero.
Proceed to the next step below.
Globalland Billing & Collection Coordination - Balance Update
1. Ticket Creation and Balance Update Request
Create a ticket addressed to Globalland Billing & Collection.
If the Change Unit Owner button is disabled, a balance update must be performed as part of the change of ownership tagging process.
The Globalland Billing & Collection team will create and complete the balance update via Invoice (Debit Memo).
Note: This will reverse the ending balance, resulting in a zero balance.
2. Credit Memo / Billable Payment Application
Once the invoice(s) have been created, proceed with the pending Credit Memo Application or Billable Payment Application.
Credit Memo / Billable Payment Application
Since the advance payment has been offset via invoice creation, a credit memo or payment application must be performed.
To proceed:
Locate where the advance payment exists:
Go to Manage Payments > Billable, or
Go to Manage Invoices > Credit Memo.
In the search bar, enter the account number of the current account .
3. Open the corresponding transaction of the account.
4. Apply the payment or credit memo to the newly created invoice.
Make sure all transactions are applied properly.
Update the Lot Inventory to Reflect the New Owner
Once the account balance is cleared or properly adjusted, Globalland Billing & Collection will notify you to proceed with the Lot Inventory update to reflect the new owner.
Change Owner Update (with B&C advise)
Click "Change Unit Owner" button and select the new owner from the list.
A modal or pop-up page displaying existing customers will appear.
Click the name to select the new turnover.
- If not yet created, follow the instructions in the unit owner creation or update.
- Ensure the new unit owner has been encoded accurately.
2. Fill out all required fields with the new owner's information.
Property Status
Turnover Status
Billing Type (for new Turnover)
Other related fields that needs to be updated
3. Click the Update button to apply the changes.
4. Confirm the change owner update by selecting the reason from the list
5. Click the Proceed button to complete the update
Globalland Billing & Collection Coordination - Balance Transfer
If the Change Unit Owner tagging is completed, you must coordinate the balance transfer to B&C.
The team will generate a Credit Memo.
Note: This will record the new balance, advance payment, of the account.
Navigate the Lot Inventory
Navigate the lot inventory again.
The new amount will be added to the new owner's balance.
The lot inventory and account balances have been successfully updated.
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