Transaction Confirmation Delay
This feature allows you to delay recognition of selected
transactions when statements are generated. This supports
posting a check into Collect! and then delaying reporting
the check to your Client for a number of days sufficient to
give the check time to clear.
Enter the number of confirmation delay days on the
Payment Posting Options form. Then switch this ON for
a given Transaction Type or on an individual Transaction.
When you generate statements using confirmation delay, Collect!
performs two sets of calculations.
1. The statement generator scans all financial transactions in the
selected date range and acts on transactions that DO NOT have 'Use
Confirmation Delay" switched on.
2. Then the statement generator sets its date range scan window
back by the number of days specified in the Confirmation Delay
field of the Payment Posting Options form and scans all
transactions over that date range. It acts only on those transactions
that DO have the 'Use Confirmation Delay' switch turned on.
If the transaction has a Confirmed Date and it falls
within the Confirmation Delay period, Collect! includes the
transaction in the statement, even though the Confirmation Delay
period has not expired. Please see the section entitled "Confirmed"
for details.
How To Use Transaction Confirmation Delay
Example:
You want to delay any checks received by 7 days to allow
the check to clear.
1. In the Payment Posting Options form, enter 7 into the
Confirmation Delay field.
2. In the Transaction Type that you use for Payment To
Agency By Check, put a check mark in the Use
Confirmation Delay field.
3. Post a transaction using that transaction type.
4. Generate statements and notice how, when you
generate statements, that transaction doesn't appear.
5. As an experiment, forward date your machine one
week. Now, if you generate statements the transaction
does appear in the statement.
Confirmed
The Confirmed Date on the transaction enables you to override
the Confirmation Delay setting and include checks that are
cleared before the Confirmation Delay period has expired.
You can also enter a date in the future to make sure a
transaction is not considered until a specific future date.
When generating statements, Collect! will use this date to
determine whether or not the transaction is included in
the statement.
This date is evaluated for statements ONLY when
the 'Use Confirmation Delay' switch is ON and you have a
value entered in Payment Posting Options for
Confirmation Delay. If you are NOT using Confirmation Delay,
then this field is for your own use.
Summary
This feature makes it simple and intuitive to delay recognition
of selected transactions in the statement generation process.
See Also
- Transaction Type
|
Was this page helpful? Do you have any comments on this document? Can we make it better? If so how may we improve this page.
Please click this link to send us your comments: helpinfo@collect.org