Transaction Type Sample - Additional Principal
You may adjust or add to the Principal amount
using Principal transaction types. Multiple principal
transaction types are added together and the total
is set in the Original Principal field on the
Financial Detail form.
The sample shown below will add to any previous
Principal amount. Use this transaction type for adding
to the principal, for example, monthly for services or
equipment. Other examples might be monthly charges
for a membership, or charging for additional services
or features your company may offer.
Monthly Billing Amount - Principal Transaction Type
When posting a 160, Monthly Billing Amount principal
transaction to a debtor account, the description from
the transaction type form will be copied to the transaction
being posted.
The 'Use dollar amounts' radio button is switched ON
to allow you set the amount you wish to be used at
the time of posting the transaction. In this sample, -$53.20
will be automatically filled into the To Us field when posting.
Entering a negative amount in either the To Us or
Direct field will add to the debtor's Principal amount.
If more than one of these transaction types is
posted to an account, the total will be calculated
automatically and displayed in the Principal field
on the Debtor form.
Entering a positive amount will reduce the amount of
Principal. Interest will be recalculated accordingly.
Interest, if used, is calculated from the Payment
Date entered when the transaction is posted and
the amount entered in the To Us or Direct field. If you
are using multiple principal transactions, interest
is calculated on the resulting principal total after
each transaction's payment date. For more details
please see Interest Detail and documentation
for specific types of interest.
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.
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.
Calculations are checked not to calculate commission
and not to calculate tax on any commission
amount present.
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. You may want to set the Operator or Sales values
to HSE or OWN, if you wish to always have operator and
sales operator ID's on every transaction.
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 160 Monthly Billing Amount
principal transaction to an account. You may override
any setting when posting the transaction.
See Also
- Transaction Type
- Transaction Type Basics - Introduction/Accessing
- Transaction Type Samples
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