Transaction Type Sample - Payment Of Agency NSF Fee

Let's assume that an operator posts a check payment to a debtor account. A few days later, the check is returned to you NSF. You process the check, including your NSF fee. Later on, you receive another payment from the debtor to cover both the NSF check and your NSF fee.

How do you post the payment for the NSF fee?

You may use the Payment of Agency NSF Fee transaction type to post the portion of the check that pays the NSF fee.

The screen shot below shows the settings for the Payment Of Agency NSF Fee Transaction Type.

Payment of Agency NSF Fee - Payment 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 100 series for payment type transactions, but any Financial Type dotted as "Payment" will be processed as a payment type transaction.

You can have many different payment transaction types for separating the various types of payments you may receive. This includes any fee payments as well as payments on the account balance. Payment By Check, Monthly Payment, and Payment of Agency NSF Fee are a few examples of different types of payments.

A check mark in the box labeled Copy Description To Transaction copies the Description from the Transaction Type form when you create a 106 Payment of Agency NSF Fee transaction on a debtor account.

The Payment radio button is dotted to keep track of payments that are made on an account.

Any transaction flagged as a Payment type, with an amount either in the To Us or Direct field, will affect the balance of the Owing amount displayed on the Debtor form.

An amount in the transaction's Commission field affects your agency commission amount.

All payment transactions are totaled together and subtracted from the total debt. The result is displayed in the Owing field of the Debtor form.

The radio button labeled Use dollar amounts is selected and a fixed amount has been entered in the To Agency field and in the Commission field. Entered as a POSITIVE amount, this is adds to the total commission amount collected by your agency and decreases the debtor's Owing.

Reporting check box, Omit from client statement. is switched ON with a check mark so that this payment 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 left UNCHECKED so that the amount of this payment is calculated into the total daily cash received by your agency. This payment is part of the cash flowing into your agency.

Calculations check box, Don't calculate commission is switched ON with a check mark so that commission is not calculated on this payment. The amount in the Commission field will be used. This will not be overridden by any commission rate that is set on the account.

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

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 106 Payment Of Agency NSF Fee transaction to an account. You may override any setting when posting the transaction.

The Payment Of Agency NSF Fee transaction type has been set up to easily post payment of the NSF fee portion when you receive a "good" payment that covers both a check that previously went NSF and your agency's NSF fee that you charged to the account. In the sample, when the transaction is posted, the To Us and Commission fields will display $25 as the amount of the NSF Fee payment. This would decrease the debtor's Owing and increase your agency's commission totals.

For the remaining portion of the payment that covers the NSF check amount, you would use the Payment By Check transaction type. Please refer to How To Post Debtor NSF Fees for more information.

If you need to post other types of payments, please refer to the transaction type samples.

See Also

- Transaction Type Basics - Introduction/Accessing
- How To Post Debtor NSF Fees