Transaction Type Sample - Agency Internal Expenditure

The Internal transaction type enables you to track expenses incurred by you for a particular account. When you cannot recoup your expenses from the Debtor or the Client, you may still want to track them for the account.

An Internal transaction does not affect the Debtor's Owing or any Client financials, such as Commission or Return. It simply gives you a way to track internal expenses on an account.

The screen shot below shows the settings for the Agency Internal Expenditure Transaction Type.

Agency Internal Expenditure - Internal Transaction Type

The rest of this document explains the settings shown above.

By default, Collect! ships with a number of Payment type transaction samples. Collect! uses the 600 series for internal type transactions, but any Financial Type dotted as "Internal" will be processed as an internal type transaction.

A check mark in the box labeled Copy Description To Transaction copies the Description from the Transaction Type form when you create a 601 Agency Internal Expenditure transaction on a debtor account.

The Internal radio button is dotted to keep track of internal expenses for the account.

Any transaction flagged as an Internal type, with an amount either in the To Us or Direct field, will NOT affect the balance of the Owing amount displayed on the Debtor form.

An amount in the transaction's Commission field will NOT affect your agency commission amount.

The Internal transaction type is used for tracking expenses on an account that are borne entirely by the agency. They do not affect either the Debtor's or the Client's financials in any way.

Reporting check box, Omit from client statement. is switched ON with a check mark so that this transaction in not included in the client statement. This transaction is for your own internal accounting and your client will not be made aware of it.

Reporting check box, Omit from daily cash report is switched ON with a check mark. This transaction is for your own internal accounting and will not be reflected in your Daily Cash report.

Calculations check box, Don't calculate commission is switched ON with a check mark so that commission is not calculated on this transaction.

Calculations check box, Don't calculate tax is switched ON with a check mark so that tax is not calculated on transaction.

The way you handle your business will help you decide whether or not to enable any other optional settings.

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 601 Agency Internal Expenditure transaction to an account. You may override any setting when posting the transaction.

To view all Internal transactions posted to an account, open the Debtor Financial Summary and select the Internal tab. To access this form, select the Fees field on the Debtor form.

See Also

- Transaction Type Basics - Introduction/Accessing