Detailed Field Information Related Information Examples & Tutorials
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Payment Values

This form lets you set a range of dollar amounts that you consider a fulfilled promise.

Imagine that a Debtor promises to pay $101.00, but only sends you a check for $100. Do you want Collect! to consider the payment close enough, or should it consider that amount an underpayment?

In the Payment Values form, you can set the dollar ranges that are considered full payment. The amounts you enter are linked to the way you asked Collect! to manage your promised payments.

You can set different contact plans to run for full payments, underpayments and overpayments. The contact plans to run are chosen in the Payment Posting Options form but the values that trigger running the plans are entered in the Payment Values form.

Words Of Caution

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Please be aware that conflicting messages sent to Collect! regarding contact plans can cause unexpected results or write erroneous data to your database. When you set values in the Payment Values form, take care not to create conflicting values in a any of your transaction types or contact plan events. The best approach is to keep your procedures simple and be sure of each process that you are creating or calling through transaction types, contact plans and default settings.

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Plans And Promises

Notice that you can set different ranges for payment plans and for promise contacts. This is because payment plans are exact, and payments should be very close to the planned amounts, while promise contacts can be far more vague.

tip.gif Collect! clearly differentiates between promise contacts and promised transactions. Promise transactions are created using a Payment Plan, while promise contacts are available using contact plans.

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Transaction

Choose the Transaction Type to be posted for promised payments.

The ID and Description of the transaction type will be copied into the promise transaction when you post promises.

To set details for any transaction type, select System from the top menu bar and then select Financial Settings, Transaction Types.

tip.gif Please examine the details of the Transaction Type that you choose. Does it contain any settings that conflict with your value and posting settings?

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Less Than Plan

Enter an amount in this field that the Debtor is allowed to be under the promised amount.

For example, enter 1.00 here, and if they have a promise due for $100.00 the Debtor can send a payment for $99.00 and it is still considered a fulfilled promise. However, even if they send $98.99, the payment is considered an underpayment, and the Underpayment Contact Plan will be called.

This is for promised transactions, as scheduled in a Payment Plan for this Debtor. Promise transactions have a payment date but no posted date.

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More Than Plan

Enter an amount in this field that the Debtor is allowed to be over the promised amount.

For example, enter 1.00 here, and if they have a promise due for $100.00 the Debtor can send a payment for $101.00 and it is still considered a fulfilled promise. However, even if they send $101.01, the payment is considered an overpayment, and the Overpayment Contact Plan will be called.

This is for promised transactions as scheduled in a Payment Plan for this Debtor. Promise transactions have a payment date but no posted date.

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Less Than Promise

Enter an amount in this field that the Debtor is allowed to be under the promised amount.

For example, enter 1.00 here, and if they have a promise due for $100.00 the Debtor can send a payment for $99.00 and it is still considered a fulfilled promise. However, even if they send $98.99, the payment is considered an underpayment, and the Underpayment Contact Plan will be called.

This is for Promise contacts as created manually or by using contact plans.

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More Than Promise

Enter an amount that the Debtor's payment can be over the promised amount.

For example, enter 1.00 here, and if they have a promise due for $100.00 the Debtor can send a payment for $101.00 and it is still considered a fulfilled promise. However, even if they send $101.01, the payment is considered an overpayment, and the Overpayment Contact Plan will be called.

This is for Promise contacts as created manually or using contact plans.

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Help

Press this button for help on the Payment Values dialog and links to related topics.

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Cancel

Select this button to ignore any changes you may have made and then return to the previous form.

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OK

Selecting this button will save any data you have entered and return you to the previous form.

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See Also

- How To Use Contact Plans
- How To Manage Promised Payments
- How To Use Payment Plans
- Payment Plan Setup
- Payment Posting Options

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