Related Information Examples & Tutorials

Post-Dated Payments - Quick Tour

This is a quick tour of the steps involved when you want to enter a post-dated payment in Collect!.

We will cover:

  • Single Post-Dated Payment
  • Multiple Post-Dated Payments
  • Post-Dated Payment Received

Single Post-Dated Payment

Let's say you have received authorization for a single direct debit of $50 from a debtor's bank account. You are authorized to print a post-dated check for this amount in two weeks. How do you enter this information in Collect! and keep track?

You enter a Post-Dated Payment for the account using a Payment Transaction as shown below.


Post-Dated Payment Transaction

1. Enter the date of the payment in the Payment Date field.

2. Enter the promised dollar amount into the To Us field.

3. Make sure you leave the Posted Date BLANK. This makes it a promised payment.

Now, the Debtor screen will show that there is a Promised Payment active on this account.


Debtor Screen with Promise Date

tip.gif Press the RECALC button on the Debtor to refresh the screen.

If the Promise Date passes without payment, the Debtor screen will show the Promise field as Delinquent - red.


Debtor Screen with Promise Date Delinquent

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Multiple Post-Dated Payments

Let's say you have received authorization for three direct monthly debits of $50 from a debtor's bank account. You are authorized to print a post-dated check for this amount each month. How do you enter this information in Collect! and keep track month by month?

You enter a Post-Dated Payment for the account for EACH post-dated payment using a Payment Transaction.


Several Post-Dated Payment Transactions

1. Enter the date of each payment in the Payment Date field.

2. Enter the promised dollar amount into the To Us field.

3. Make sure you leave each Posted Date BLANK. This makes them promised payments.

The Debtor screen shows the date that the first post-dated payment is due.


Debtor Screen with Promise Date

tip.gif Press the RECALC button on the Debtor to refresh the screen.

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Post-Dated Payment Received

When a payment is received, simply locate the transaction for the appropriate date and fill in the Posted Date.


Post-Dated Payment Posted Date

The payment will be calculated into the financials for this account. If you want to print post-dated checks, the payment will be picked up by the check report.

Other management tasks may be performed as required, using a report or a contact plan.

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Summary

How do you keep track of a post-dated payments? By creating a post-dated transaction.

  • Enter the date the payment is promised in the Payment Date field.
  • Enter the amount of the payment in the To Us field.
  • If there are multiple payments, enter a post-dated transaction for each promised payment.

When a payment is received, locate the appropriate transaction and fill in the Posted Date.

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See Also

- Post-Dated Payment Topics

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