Step 1: Set up Transaction codes.
Setting up Transaction Codes is the first step to take when posting transactions to an account. Transaction Codes are used to post payments, adjustments, NSFs and posting correction reversal to an account.
The figure below illustrates navigation to the Transaction Code table:
Below are example setups of transaction codes. Each field will be discussed in detail in a following training class.
To go back to the previous screen, click “Exit” after you hit “Save.”
- Trans code 001 to pay for the principal amount
- Trans code 003 to adjust principal amount
- Trans code 013 to post NSF
- Trans code 201 to post correction reversal
- Trans code 002 to post direct payments.Direct payments are payments paid to the client for the account in collection with the agency. Posting of direct payments to accounts updates the transaction history and makes sure that balance is the same on both the client and the agency.
- Trans code 009 to post interest payment