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Training FAQ

How can I check if an invoice from a vendor has been paid in Vantaca?

To check if an invoice has been paid:
Go to Accounting >> Bank Register in Vantaca
Look in the "Description" column for the vendor name, or look in the "Amount" column to see if there is an amount matching the invoice amount
If there is a matching vendor name or invoice amount, that indicates the invoice has been paid
The "Yes" in the "Clr" column also confirms if the payment has cleared
For example, if you were looking to see if the latest invoice from Comcast for $253.71 has been paid, you would search in the "Description" column for "Comcast" or look in the "Amount" column for an entry of "-$253.71". If either of those is present, it means that specific Comcast invoice was paid.
If you don't see the vendor name or invoice amount listed, that suggests the invoice is still outstanding and has not been paid yet.
Following these steps to review the bank register will allow you to determine if a particular vendor invoice has been processed and paid, or if it is still pending payment. If you have additional questions, don't hesitate to contact Accounting for assistance!

What is the process for handling Certificates of Insurance (COI) for work done inside an owner’s unit?

When a homeowner is having work done inside their unit that requires a COI from the vendor or contractor, such as HVAC installation, follow these steps:
Save the COI document to the association’s documents in the "Homeowner Documentation" folder in Vantaca. This ensures that the COI is easily accessible and associated with the specific homeowner.
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As an optional additional step, you may also attach the COI as a note to the owner's account in Vantaca, referencing the work being done in the description of the note.
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How Do We Set Up New Service Providers in Vantaca, Including Those Not Fully Registered in Vive?

As a new manager, understanding how to accurately set up new service providers in Vantaca is crucial for ensuring efficient operations and compliance within our organization. This guide references key procedures outlined in the Vantaca support article, which can be accessed for further details
Getting Started with New Service Providers
Access the Vantaca System: Initially, you'll need to navigate to the Vantaca homepage. From there, select “Settings” and then “Service Providers” to begin the process of adding a new service provider.
Add a New Service Provider:
Click on “Add New” to open up the service provider details page.
In the “General” tab, you'll be prompted to enter essential information about the service provider. Make sure to fill in the service provider's name accurately and check the box to make them active.
Entering Address and Contact Information:
It's imperative to enter the complete mailing address and contact details of the service provider correctly. This information is critical for ensuring that checks print correctly and reach their intended destination without any hitches.
Pay special attention to the “Address” fields. Input the full and correct mailing address to avoid any future payment processing issues.
Handling Providers Not Fully Registered in Vive
Incomplete Vive Registrations:
For vendors who have not completed their Vive registration, still proceed to enter all the information available into Vantaca. This includes making a note in their profile about the pending Vive registration to ensure compliance and tracking.
The correct mailing address is crucial at this stage to prevent check printing and payment issues.
Vive Approval and EINs:
After a vendor receives approval in Vive, promptly update their Vantaca profile to include their Employer Identification Number (EIN). This is an essential step for financial and legal compliance and helps streamline the payment process.
Ensuring Accuracy and Compliance
Quality Control:
Always double-check the information entered for accuracy before finalizing the setup. Mistakes in address or contact information can lead to significant issues down the line, including payment delays and compliance violations.
Regularly review and update service provider information in Vantaca to reflect any changes in their status, contact details, or services offered.
Importance of Accurate Information Entry:
Entering vendor information inaccurately, particularly their mailing addresses, can result in payment processing errors. These errors necessitate additional administrative effort to correct, thereby wasting valuable time and resources.
Ensure all vendors approved in Vive have their EINs recorded in Vantaca. This not only aids in compliance but also enhances operational efficiency
Conclusion
By following these detailed steps to set up new service providers in Vantaca, you will contribute significantly to our company's operational efficiency and compliance standards. Remember, accurate and thorough data entry is key to avoiding payment issues and ensuring smooth operations. Should you have any further questions or require assistance with the Vantaca system, please do not hesitate to reach out for support.

How to Process a Bank Return in Vantaca

Identify the bank return:
Upon receipt of a new bank return processed by your bank, a "Bank Return Notification" action item will be created in your database.
The Bank Return Notification action item is assigned to the AR role by default but can be changed on the action item setup.
Open the attached document (usually a PDF) provided by the bank, which includes details about the returned payment.
Locate the returned payment: 2.1. Navigate to the "Homeowner" section and select "Payment Search." 2.2. Use the Payment Date range to narrow down your search results and find the payment that was returned. 2.3. The description field can be used to search for: - Check number - Last four numbers of an ACH draft account - eCheck payment
Create a Bank Return action item: 3.1. Once the returned payment has been located on the Payment Search screen, click the "Return" button next to the payment to create a Bank Return action item on the actual payment that was returned. 3.2. On the Return Item screen, input the following: - Adjustment amount - Adjustment date - Reason for the return 3.3. Click "Update" to submit the return.
Process the Bank Return action item: 4.1. Use the dropdown arrow on the left-hand side of the payment entry to view and select the owner's account. 4.2. Go to Homeowners > Action items and select the newly created Bank Return action item. 4.3. In the action center panel on the left side of your screen, click the "Return" button at the bottom. 4.4. Verify that the return is being processed with the money coming back out of the correct charge type in which it was originally applied. 4.5. Click "Update" to perform the return and post the transaction to the owner's ledger.
Apply return fee (if applicable): 5.1. If your association charges a return fee, navigate to the Association > Assessments section for the bank return action item. 5.2. Apply any necessary return payment fees if set up within the Association > Assessments for the bank return action item.
Communicate with the homeowner: 6.1. Step the action item to the appropriate closing step (e.g., Stop Payment response) to generate an email to the owner notifying them of the return.
Close the action item: 7.1. Once the return has been processed, fees applied (if applicable), and the owner notified, the process is completed. 7.2. Mark the action item as completed or closed to indicate that the return has been handled.
Note:
Vantaca completes all the necessary GL entries for you during the bank return process. There is no need for manual entries, as doing so may lead to double recording and throw the system out of balance.
Remember:
Document the steps taken, including any relevant notes or attachments, for future reference and auditing purposes.



How to Handle Insurance Claims

Introduction

This policy outlines the procedures Five Star Community Association Management LLC (Five Star CAM) follows in handling insurance claims related to property damage within units managed by our company, and claims involving common areas and also homeowners. This policy ensures that claims are managed effectively and efficiently, minimizing costs and maximizing the satisfaction of our residents.
Five Star CAM is committed to transparency in its handling of all insurance claims and will keep both the board and the affected owners informed throughout the process.

Policy Scope

This policy applies to all insurance claims filed by owners and the HOA for properties managed by Five Star CAM.

Responsibilities of Owners

Initial Claim Filing
Owners must initially file any claims for damages within their units with the carrier for their HO6 policy.
Owners are responsible for meeting the deductible of the master policy. Proof of expenses exceeding this amount must be provided to Five Star CAM through receipts or invoices/quotes.
Documentation
Upon filing a claim with their HO6, owners are required to submit all relevant documentation to Five Star CAM to validate the claim exceeds the deductible amount.

Five Star CAM's Role

Assessment and Communication
Five Star CAM will assess the documentation provided by the owner to confirm it meets the deductible requirement. We may reach out to the the insurance broker with the complete documents to confirm.
Five Star CAM will communicate the details of the claim and the provided documentation to the HOA board for further decision-making.
Handling of Claims
If the damage extends beyond the owner's unit into common areas, Five Star CAM will handle the master claim for the common area damages at no additional charge to the HOA.
All claims pertaining solely to an owner's unit that exceed the deductible may be presented to the board to decide whether to proceed with a master claim or to resolve the matter through alternative compensations, such as direct payments from HOA reserves.
The Board will then direct Five Star CAM to move forward with filing a claim with the Master Policy carrier OR make a settlement payment from their Reserve account.
If a settlement is made from the Reserve account, Five Star CAM will have the owner sign a release waiver stating that there will be no further claims made for this incident and the owner must have this document notarized and it must be returned to Five Star CAM before a check can be cut to the owner. The full settlement amount will be paid to the owner, and Five Star CAM's claim processing fee will be billed separately to the association.

Fees and Compensation

Five Star CAM will manage the claim processing and administration for the fee outlined per our contract with the Association. This fee will be billed directly to the association.
If Five Star CAM does not handle this process, the Board will have to handle the claim, beginning to end. This includes all emails, phone calls with the carriers and owners and all matters pertaining to the claim.

Decision Criteria by the Board

Evaluating Claims
The board will evaluate whether to file a master claim based on the amount exceeding the deductible, the potential impact on insurance premiums, and the financial advisability of alternative compensations.
The board retains the final decision on whether to proceed with a master claim after reviewing the documentation and recommendations provided by Five Star CAM.
Additional Considerations
State Regulations
It is important to note that water deductibles are not mandated in the state of Georgia, though they may be included in policies. Five Star CAM will ensure that any new policies negotiated will ideally not include a water deductible unless necessary. This is a Board decision, we would just present them.


How do we set up new bank accounts for new associations?

Gathering Required Information
When onboarding a new association, collect the following information:
Name of the association as it appears on the Georgia Secretary of State website
Tax Identification Number (TIN) of the association, which can be found in their tax returns
Lockbox ID used in Vantaca for the association
Determining Account Types
Decide on the types of accounts to be created for the new association:
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