Financial Settings
The Financial Settings menu choices enable you to control
many settings used when working your accounts financially.
These settings affect posting payments and posting fees to
accounts and reporting to credit bureaus.
Settings in the following areas may be controlled from
this menu.
* Transaction Types
* Payment Posting Options
* Commission Rate Plans
* Payment Plan Settings
* Credit Bureau Settings
Transaction Types
Select this option to view the list of all
Transaction Types in your system.
Transaction Types are used for classifying
information posted to your accounts.
Several types are already set up for you. Each
one has different settings appropriate to the
type of transaction it describes.
Use the default types or create your own custom
settings for the types of transaction that you need.
Use Transaction Types to:
* Post batch fees
* Automatically set options when you enter
new transactions
* Group transactions and payments in reports
Payment Posting Options
Select this option to open the
Payment Posting Options form where you
can enter settings to determine how Collect!
responds when a payment is posted to
an account.
Commission Rate Plans
Select this option to view the list of all
Commission Rate Plans in your system.
Commission Rate Plans are used to establish
how Collect! calculates commission when a
payment is posted to an account. Define your own
variable sliding commission rate for accounts,
based on account age, owing, paid and
payment amount.
Several Commission Rate Plans have been set
up for you already. Modify an existing plan or
create a new one.
Commission Rate Plans are only used
if you have a sliding scale of rates to
apply to an account. A single rate can
also be set at the Client, Debtor or
Transaction level. Please refer to Help
topic, Commission Rates for details.
PAYMENT PLAN SETTINGS
Select this option to open the Payment Plan Setup
form where you can enter default settings for
transaction types and dollar amounts to use when
creating a new Payment Plan for a debtor.
The settings shown in the Payment Plan Setup
form apply when a Payment Plan is scheduled on
an account.
Credit Bureau Settings
Select this option to open the
Credit Report Preferences form where you
may enter default values to use when you
report Debtor credit.
The list of default account types provided by Collect!
covers normal collection and credit management.
Select an item from the pick list to enter its
corresponding code in the credit report settings.
Refer to your Metro format manual for details.
Settings can be changed at the individual Debtor level,
if needed, by accessing the Credit Report Details form
through the Debtor form.
See Also
- Accounting Topics
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