How To Setup Transaction Types For ACH Payments

Collect! ships with several pre-set Transaction types for use with Billing Tree.

The ACH Payments Setup screen is where you predefine the Transaction Types you want the module to use for processing your ACH Payments.

ACH Payments Setup

By default, the module will use the following Transaction Types, but you may select and set up others if you were already using any of the below-captioned codes for other purposes:

• 107 - Payment
• 105 - Payment Reversal

• 301 - NSF Charge
• 307 - Convenience Fee
• 305 - Convenience Fee Reversal

The default settings and general use for each of the Transaction Types are described below.

All three of the Fee/Charge codes are preset to "Omit from client statement" and "Omit from daily cash report".

If your company reports fees/charges to your client and considers these revenue transactions, these default settings will need to be modified to suit your operational preferences.

ACH Payment

To view the Transaction Types and their internal settings, your menu path is "System\ Financial Settings \Transaction Types". This launches a view of your Transaction Type list of existing codes, and from there, you can view/create/edit as needed.

Transaction Code 107

This is a Financial Type "Payment" with a Description of "Check Payment Taken by Phone".

107 - Payment

ACH Payment Reversal

This is a Financial Type "Payment" used for reversing ACH payments when fail to negotiate the bank for reasons such as NSF/Stop/Hold/Account Closed etc. It has a Description of "Returned NSF Check". This is the same NSF code that would be used for non-ACH check reversals as well.

Transaction Code 105

105 - Payment Reversal

It is not necessary to have an ACH ONLY check reversal code.

Exception: If your office does use an NSF Contact Plan that is launched by the posting of an NSF reversal, AND you do not wish that same strategy to be invoked to act upon ACH payers, you may wish to set up and ACH Only NSF Transaction Type that does NOT have the general NSF strategy initialized by the posting with the code.

NSF Charge

If your agency charges debtors NSF fees (i.e. a flat amount $25 or $40 for every returned check), then you will want to include this Transaction Type code in your ACH setup.

It is a Financial Type "Fee" which is preset with the flat amount you will add to the debtor's balance in the event of an ACH payment that has been reported to you for reversal by Billing Tree.

Transaction Code 301

301 - NSF Charge

ACH Convenience Fee

This is a Financial Type "Fee" with a Description of "ACH Convenience Fee" used for posting the add-on cost you may be charging to debtors when your process checks by phone.

Transaction Code 307

307 - Convenience Fee

ACH Convenience Fee Reversal

This is a Financial Type "Fee" used for reversing a convenience fee when an ACH payment is reported back to your Billing Tree as having failed to negotiate the bank. It has a Description of "ACH Convenience Fee Reversal".

Transaction Code 305

305 - Convenience Fee Reversal