Transaction Type Sample - Interest Adjustment

You may adjust or add to the interest amount using Interest Transaction Types. Multiple interest transaction types are added together and the total is set in the Interest field on the Debtor form.

Collect! ships with a default Interest Adjustment transaction type 401. Use this transaction type to adjust the Interest amount for an account.

Interest Adjustment - Interest Transaction Type

When posting a 401, Interest Adjustment transaction to a Debtor account, the Description from the Transaction Type form is copied to the transaction being posted.

The 'Enter amount on Posting' radio button is switched ON to allow you enter the amount you wish to be used at the time of posting the transaction.

Entering a negative amount in either the To Us or Direct field adds to the debtor's Interest amount.

Entering a positive amount reduces the amount of Interest on the debtor's account. Interest will be recalculated accordingly.

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 401 Interest Adjustment 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