Financial Detail

The Financial Detail form displays all financial settings for the Debtor account. This form lets you enter the Debtor's Original Principal and Judgment details. Commission and Fees, Interest settings and Payment Plan settings are entered here as well. Totals are displayed for all payments made on the accounts. The Financial Detail form also shows a total of all legal fees posted to date. Credit grantors may change the display of the Debtor screen from this form so that it shows 30/60/90 day amounts.

Open this form while on the Debtor form by selecting the Rate, Principal or Interest field or tab into one of these fields and press F2.

Financial Detail

Legacy Card

Select this button to open the LEGACY Credit Card Payment Tasks menu. You can post a single or recurring credit card payment, or query the Payment Provider to update the Debtor's payment history.

Legacy ACH

Select this button to open the LEGACY ACH Payment Tasks menu where you can post a single or recurring ACH payment.

Referral Rate

This stores a percentage amount. You can use it to keep track of an attorney's fee or a referral rate for debtors that you receive from an outside agency.

This rate is not used for calculations on the debtor's account, but you can use it in reports to perform your own calculations.

Currency

This is the currency the debtor account is recorded in. This is for display and printing only.

By default this field is blank, or is set to the System Default. Collect! reads your Regional Settings and uses whatever your computer is set to.

This means that if your computer is set up for North America, you will see the $ symbol displayed in currency fields. Other countries will show different currency symbols.

The debtor's currency records the currency of the account.

Collect! does no calculations using exchange rates and currencies yet. These fields are provided for your information purposes only.

This field is visible only when Multi Currency is switched ON in the Company Details form.

Show 30/60/90

When this switch is turned ON, most of the financial fields on the Debtor form are hidden and you see new fields displayed for 30 Days, 60 Days, 90 Days, and Over 90 Days.

These fields display values that are calculated if you have set up Amortized interest calculation for the debtor and you see a date in the "Next" field on the Debtor form. The 30/60/90 values are also used for Credit Bureau Reporting if you are a Credit Grantor. Please refer to How to Setup Credit Bureau Reporting.

Tax Exempt

This switch turns OFF the calculation of tax on all transactions for this Debtor. If a Tax Rate has been set previously, it will not display when a transaction is posted.

When this switch is ON, tax will not be calculated even if the "Don't Calculate Tax" switch is not ON and there is a Tax percentage entered in the Tax details for the account. Tax will not be calculated if a transaction is posted with a Tax Rate in the Transaction Type settings. Whenever a transaction is posted, tax will not be calculated and the transaction's Tax field should remain blank.

Commission To Date

This Read Only field displays the total amount of Commission collected on this account. The value is calculated from all transactions with a Commission amount. This value can be pulled into reports to easily summarize account activity.

Principal Paid To Date

This Read Only field displays the total amount of all payments to Principal. The value is calculated from all payments where a portion was allotted to Principal. This value can be pulled into reports to easily summarize account activity.

Totals

The Financial Summary Totals section of the Financial Detail form is used to enter debt and Judgment details. It displays summaries for all financial activity on the account. Press F1 for more information.

Commission

This section of the Financial Detail form is used to enter details of Commission Rates. Press F1 for more information when this section is highlighted.

Tax

This section of the Financial Detail form is used to enter details of Tax settings. Press F1 for more information when this section is highlighted.

Fees

This section of the Financial Detail form is used to enter details of Financial Fees charged to the account. Press F1 for more information when this section is highlighted.

Interest

This section of the Financial Detail form is used to enter Interest Detail. Press F1 for more information when this section is highlighted.

Payment Plan

This section of the Financial Detail form is used to set up a Payment Plan on the debtor account. Press F1 for more information when this section is highlighted.

OK

Select this button to save any changes you may have made and close the Financial Detail form.

Calculators

Select this to open a Help topic with links to very useful calculators and other math tools.

Cancel

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

Help

Press this button for help on the Financial Detail form and links to related topics.