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Transaction Type Sample - Payment Plan Initial Discount

The Payment Plan Initial Discount transaction type is used to post an initial discount when using Payment Plans. If you are not using plans, then you can skip this transaction type.

The screen shot below shows the settings for the Payment Plan Initial Discount Transaction Type.


Payment Plan Initial Discount

The rest of this document explains the settings shown above.

In the Account section, ADJUSTMENT is selected for this transaction type. The dollar amount to post is taken from the Payment Plan form or the Payment Plan Setup form.

When you create a 193 Payment Plan Initial Discount transaction on a debtor account, the Description from the Transaction Type form will be copied to the transaction being posted.

The 'Enter amount on posting' radio button is switched ON to enable Collect! to fill in the value of this discount from the payment plan settings as a positive dollar amount. This reduces the amount of the payment plan and is posted as an Adjustment to the debtor's account.

The dollar amount of the Initial Discount is displayed in the Adjustment field on the Debtor form as a Negative amount. This reduces the debtor's Owing.

In this sample, the reporting check boxes tell Collect! to omit this transaction when creating a statement for your client and also to omit the transaction when generating the Daily Cash Report.

Display is set to leave both the To Us and the Direct fields visible at all times when viewing the transaction or Transactions List.

No operator or sales operator ID's have been set to be used as default values when posting this transaction type.

No contact plans have been set to be run when posting this transaction type.

No commission rate has been set to override the commission rate that may be set on the Debtor form.

All the above settings will be automatically filled in for you when you post a 193 Payment Plan Initial Discount transaction to an account. The dollar amount will be filled in from the payment plan settings.

See Also

- Transaction Type Basics - Introduction/Accessing
- Payment Plan Topics

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