Post Debtor Transaction

Detailed Field Information Date Debtor File Account Client Collector Sales Commission Rate Tax Rate Action Direct To Agency Type Pay Int Fee Adj Pri Description Debit Credit Commission Tax Previous Breakdown To Principal To Interest To Fees Current Transaction Total Total Commissions Total Tax

Related Information Descr Account Type OK Cancel New Help See Also

Examples And Tutorials Setup Transaction Types Post A Transaction Report Collector Commissions Create A New Commission Rate Plan Cancel Letters After Payment In Full Exclude Multiple Transaction Types From Reports Manage Finances Track Operations In Accounting Software Make Global Changes Post Outside Agency Fees Post Legal Fees Post Attorney Fees Post Court Or Legal Costs Use The Amortization Schedule Setup Preamortized Interest Make An Interest Adjustment Post Client Fees And Charges Post A Debtor Payment Post Debtor NSF Fees

The Post Debtor Transaction form displays several fields where you can post transactions to a selected debtor. Also displayed are Previous and Current Balances for the debtor's account. When you use payment breakdown transaction types, payment disbursements to Principal, Interest, and Fees are also shown.

Post Debtor Transaction form

The Post Debtor Transaction form provides a speedy way to process accounts when the details of the transactions are simple. The operator picks a debtor either by Name, File Number or Client Account Number. The current Date, Operator and Sales Codes, Commission Rate and other details are displayed as they appear on the debtor's account. These details can be modified for the transactions posted at this time. A Description can be entered that will be saved with each transaction record. A Contact Plan can be chosen to run after the transactions are posted.

Select a Transaction Type and post the amount as a Debit or Credit to the debtor's account. Up to four separate transactions can be posted from a single Post Debtor Transaction form. Commission and taxes are calculated automatically and displayed for each transaction that you post. Totals, Breakdown and Current columns update as each transaction is entered.

The Post Debtor Transaction form is meant for simple straightforward transactions. If you are entering more complex transactions with several possible conditions, then you are advised to enter your transactions through the button labelled Finance on the Debtor form.

Any transactions posted from the Post Debtor Transaction form will be created at the end of the transaction list accessible through the Browse menu. If necessary, you can manually edit any transactions posted through this form.

Date

Press F2 to select the date for the transactions being posted for this Debtor. This field defaults to today's date.

Debtor

Use this field to select the Debtor by name.

Type the first few characters and press ENTER. If the system can't find exactly what you typed, it will pop up the Debtor list. Once you choose a debtor, account information from the debtor's record will be displayed in the Post Debtor Transaction form.

File

Use this field to select the Debtor by your "in house file number".

Account

Use this field to select the Debtor by the client's Account Number.

Client

This is the name of the client whose debtor you have chosen to post transactions for. The name is taken from the debtor's record.

Descr

This is a free form area where you can describe the transaction. You could use this for a check number or other information. It is copied to the Description field of every transaction you are currently posting for this debtor.

Collector

This ID is automatically copied from the Operator field in the Debtor form. (Press F2 to change.) It is copied to the Operator field of every transaction you are currently posting for this debtor.

Sales

This ID is automatically copied from the Sales field in the Debtor form. (Press F2 to change.) It is copied to the Sales field of every transaction you are currently posting for this debtor.

Commission Rate

This rate is automatically copied from the Rate field in the Debtor form. (Press F2 to change.) It is copied to the Commission Rate field of every transaction you are currently posting for this debtor. You can manually change this rate, if necessary, for the transactions you are currently posting. The commission rate is used to automatically calculate commissions on debtor transactions. The dollar amount is displayed below in the Total Commissions field.

You may change the rate in this field manually, as you need, as long as you intend to apply the same rate to each transaction posted on the same form. This will override any rate set on the Debtor form, but only for the transactions you are entering presently. The Rate on the Debtor form will remain the same.

Once you manually enter or change a commission or tax amount the system will stop automatically recalculating commissions and taxes.

Tax Rate

This rate is automatically copied from the Tax Rate field in the Commission and Charges form accessible when you click in the Rate field on the Debtor form. (Press F2 to change.) The Tax Rate is copied to the Tax Rate field of every transaction you are currently posting for this debtor. You can manually change this, if necessary, for the transactions you are currently posting. The Tax Rate is used to calculate tax on commissions. The dollar amount is displayed below in the Total Tax field.

You may change the rate in this field manually, as you need, as long as you intend to apply the same rate to each transaction posted on the same form. This will override any rate set in Commission and Charges for this debtor, but only for the transactions you are entering presently. The Tax Rate for the debtor will remain the same.

Once you manually enter or change a commission or tax amount the system will stop automatically recalculating commissions and taxes.

Action

Press F2, or select the down arrow, to choose a contact plan to execute when the transactions have been posted. If you select a transaction type with a contact plan set to run, then the code for that contact plan will be displayed in the Action field automatically.

This field will display the last contact plan chosen either manually or because of a transaction type.

You can set a contact plan to run by default when payments are posted. Please see Payment Posting Options for details.

Direct

Set this switch to record a payment made directly to the client. Use the SPACEBAR to toggle the switch.

To Agency

Set this switch to record a payment made to the agency. Use the SPACEBAR to toggle the switch.

Type

Press F2 or select the down arrow to choose the transaction type for the transaction you are currently posting.

Transaction types contain information used to process the transaction you are posting. Please see Transaction Types for details.

Account Type

Depending on the type of transaction you are posting, a dot will appear automatically in one of the Account Types to the right of the Type field. Transaction types can be Payment, Interest, Fee, Adjustment or Principal.

Pay

A mark in this column indicates a Payment transaction.

Int

A mark in this column indicates an Interest transaction.

Fee

A mark in this column indicates a Fee transaction.

Adj

A mark in this column indicates an Adjustment transaction.

Pri

A mark in this column indicates a Principal transaction.

Description

This is a free form area where you can describe the transaction. You could use this for a check number or other information. It is appended to the description you may have entered at the top of this form, and then copied to the Description field of the transaction you are currently posting for this debtor.

Debit

A positive amount entered into this field will increase the debtor's Owing by that amount. A negative amount will decrease the debtor's Owing by that amount.

Values entered into this field will always affect the debtor's account balance, regardless of transaction type.

A positive amount entered when the transaction type is Interest, Fee or Adjustment will increase the appropriate subtotal in the Debtor form.

Credit

A positive amount entered into this field will decrease the debtor's Owing by that amount. A negative amount will increase the debtor's Owing by that amount.

Values entered into this field will always affect the debtor's account balance, regardless of transaction type.

Commission

This amount is automatically calculated by using the Commission Rate field defined above. This is only calculated on PAYMENT type transactions.

To enter a commission on a Fee or other transaction type, you must manually enter the commission as described below.

Once you manually enter or change a commission or tax amount the system will stop automatically recalculating commissions and taxes.

A positive amount entered into this field will bill the client for that amount in the next statement or invoice. A negative amount will produce a credit to the client for that amount in the next statement or invoice generated by Collect!.

Values entered into this field will always affect the client's account balance, regardless of transaction type.

Tax

Tax is automatically calculated on the commission, using the tax rate that you see in the Tax Rate field at the top of this form.

These are the Debtor balances before any proposed transactions. These amounts are taken from the Debtor form.

Breakdown

These fields only apply when you are posting a payment breakdown transaction. They display the amounts posted to Principal, Interest, and Fees as per your transaction type setup.

To Principal

When using a Payment Breakdown transaction type, this field will display the portion of the transaction that is going to be applied to Principal. If you post several payment breakdown transactions at this time, this field will display the total amount applied to Principal from all the payments that you post.

To Interest

When using a Payment Breakdown transaction type, this field will display the portion of the transaction that is going to be applied to Interest. If you post several payment breakdown transactions at this time, this field will display the total amount applied to Interest from all the payments that you post.

To Fees

When using a Payment Breakdown transaction type, this field will display the portion of the transaction that is going to be applied to Fees. If you post several payment breakdown transactions at this time, this field will display the total amount applied to Fees from all the payments that you post.

Current

These are the balances on the debtor's account after any proposed transactions. This column is automatically recalculated as you post each transaction. These new balances will be reflected in all totals and Paid To Date amounts when you next view the debtor's account.

When using payment breakdown, this column will show you how much is outstanding in each of the breakdown areas, Principal, Interest, and Fees, after the payment breakdown is calculated.

Transaction Total

This is the total Credits minus total Debits. The debtor's Owing will be altered by this amount when you save the transaction.

Total Commissions

This is the total of all calculated commissions. The client will be billed this amount the next time you generate statements.

Total Tax

This is the amount of tax calculated on commissions. The client will be billed this amount in addition to the commission the next time statements or invoices are generated.

OK

Select this to store the information you have entered and return to the previous form.

Cancel

Select this button to ignore any data you have entered and return to the previous form.

New

Select this button to store the information you have entered and display a new Post Debtor Transaction form.

Help

Select this button for help on the Post Debtor Transaction form and links to related topics.