This lesson will cover advanced details on the following:
- Transaction Processing Flow
- Transaction Codes
- Transaction Posting Sequence
- Payment Posting
Transaction Processing Flow
The Transaction Code Table is the table that maintains user-definable transaction codes to post financial transactions to IMPACT. Transaction Codes have Controls that determine how a payment is applied to an account, what type of transaction this particular payment is, and if commission is allowed.
The figure below illustrates navigation to the Transaction Code table:
The Transaction Code Maintenance Window is then displayed:
Add New Transaction Code
Click on the ADD button to create a new transaction code.
The Add New Transaction Code window appears as indicated in the next image with default values populated.
Example 1: Transaction Code 01B – Basic Controls
Below is an example of a transaction that allocates a payment as described:
This transaction on a Debtor account is a Payment. The Payment was made to the Company and the funds are applied to the Principal money bucket. There are no taxes on this payment. The Payment is of a cash type (cash, check, money order, etc.). Commission is allowed on this transaction. Forward Company Commission is also allowed on this transaction. There are no remittance Holds allowed. This transaction is always included on a Client Statement.
As we walk through each Basic Control Field, please refer to the Glossary - Transaction Code Field Definitions located in this lesson for a written description of each possible value.
Either click on the field to populate text fields or click on the drop-down arrow to select a value from the available choices. Populate the fields as indicated in the preceding image. At this point, sufficient fields have been populated in order for transactions to be entered using this code. If there is no need for any of the Advanced Controls, click Save at the bottom of the screen to save your new transaction code.
Example 2: Transaction Code 01A – Advanced Controls
Here is an example of a transaction that allocates a payment as described:
Basic Controls same as Example 1.
This transaction has no hold on its remittance. A Desk does receive credit for it on a Transaction Summary Report and on Commission Statistics. A Salesperson also receives credit for it on a Transaction Summary Report and on Commission Statistics. This transaction is also included on Actuary reports. The transaction reflects a status of PAR on the Client Statement and that status is applied to the debtor account when the transaction is posted. This transaction code is set up to use auto NSF Code 13A and Posting Correction Code 01C.
As we walk through each Advanced Control Field, please refer to the Glossary – Transaction Code Field Definitions located in this lesson for a written description of each possible value.
Once all fields are populated as indicated above, click on SAVE to save this new transaction code to the Transaction code Table.
Glossary - Transaction Code
Transaction Code: Populate with a code to identify that particular transaction. This will appear in the drop downs in the Transaction Posting Sequence and Transaction Entry windows along with the Description field to identify the Transaction code being selected. These codes may be 3 alphanumeric characters.
Description: Populate the field with a description – CSS recommends including the money bucket and transaction function for easy selection from drop downs. i.e. Principal-payment to Company. The description may be up to 30 alphanumeric characters.
Security: Select from the drop down the security level a user must have to enter this transaction thru the transaction entry function. Security levels range from 0-9 followed by A-Z.
Transaction Type: Select if this transaction code applies to transactions regarding Client Accounts Receivables or Debtor Accounts.
Transaction Payment/NSF/Adjustment: This field is also referred to as the transaction code function field. Valid choices are Payment, NSF, Adjustment, or Posting Correction. Select the one this code will refer to.
Paid To: Applicable only to Debtor Account Payments, NSF’s and Posting Corrections, the choices here are Company or Client.
Amount Column: Select what money bucket or transaction column this transaction will be applied to. Basic choices include: Principal, Interest, Court Costs, Attorney Fees, Other, Misc 1, Misc 2, and Judgment Interest.
Taxable: Select Yes to indicate that the Company pays taxes on the funds received and applied by this transaction code. Leave it default to No if taxes are not paid. Consult with your accountant or attorney if you are not sure.
Cash or Non-Cash: This setting defaults to Cash and would be used when the transaction code is being set up to handle payments made to the Company. Change it to Non-Cash for NSF’s, Adjustments, Posting Corrections and payments made to Client.
Commission Allowed: This setting defaults to No, which would be used when the funds from this transaction are applied to a money bucket that the Company does not charge commission on to their Client such as attorney fees or court costs or miscellaneous amounts. Change to Yes when the commission rate to be charged would be the rate or rule as determined by the Client on the account. Change to Half when the commission rate would be 50% of what is normally charged. Change to Double when the commission rate would be twice what is normally charged. Change to Hundred Percent when the Company does not share this transaction with the Client. Change to Finder’s Fee when the Company charges the Client an amount equal to the Finder’s Fee amount set for the Client on the account.
Forward Commission Allowed: If an account has been forwarded to another agency or attorney, are they allowed to take their commission on this transaction? The selections are: No which would indicate the Forward Company may not claim any commission on this transaction. Yes, Don’t Deduct Cash which would be used when a Forward Company is entitled to commission on this transaction and your contract with them requires that the gross amount of the funds be sent to your company and you will pay them as per your contract. Or Yes, Deduct Cash which would be used when the Forward Company is entitled to commission on this transaction and your contract allows for the Forward Company to deduct their fee from the amount that is sent to you. (Other Fee Allowed – skip – this is covered under Advanced Controls.)
Allow Holds: Use the default of No if there is no reason to hold the remittance of this transaction to your Client or your Client does not allow for the holding of any remittance. Change to Yes when this transaction should not be remitted to the Client for a specified number of days AFTER it was received. The number of days is controlled at the Client level.
Include on Statement: The setting controls of this transaction code should be included on any remittance statement sent to your Client. Change to Yes for Payments, NSF’s, and Posting Corrections if you want these to appear on a Client Statement. NOTE: Not all payments would show on the Client Statement – some Companies do not show and share interest and/or other types of fees such as ACH processed fees. Adjustments are usually left at the default of No.
Amount Category: Selections are predefined Amount Categories entered via the Transaction Code Amount Category Table (Tables - Transaction Tables - Transaction Code Amount Category Table). This drop-down associates an Amount Category with the current Transaction Code to allow users to add granular categories to transactions.
Transaction Group: Selections are predefined Transaction Groups entered via the Transaction Code Group Table (Tables - Transaction Tables - Transaction Code Group Table). This drop-down associates a transaction code group with the current transaction code to allow users to group transactions by a common financial bucket.
Other Fee Allowed: Selections are No (Default), Yes-Bill Client and Yes-Do Not Bill Client
Other Fee Description: If Other Fee Allowed is set to ‘Yes’, enter an alphanumeric description for this fee.
Include on TS by Desk/Desk Comm Stats: Selections are Yes or No. You may include this transaction code to appear in your Transaction Summary by Desk Report or the Desk commission Stats.
Include on TS by Salesperson/Salesperson Comm Stats: Selections are Yes or No. You may include this transaction code to appear in your Transaction Summary by Sales Person Report or the Sales Person commission Stats.
Include on Actuary Reports: Select Yes if this transaction should be included under the Amount Collected column of an Actuary Report. Default is No. Most companies would select Yes on transactions affecting the Principal amount money bucket.
Statement Status: A drop down of all account level statuses in the Status Code table. Allows for a status different than the actual account status to appear on the client statement for this transaction. If let blank, the status on the account at the time of the transaction is shown. Often used in conjunction with an NSF or Posting Correction type of transaction to alert the client to the type of transaction being entered.
Change Debtor Status: Allows the ability to have the account level/debtor status changed to the status selected in the previous field, Statement Status. Default is No, select Yes if the change is required. The change to the status is made when the transaction is posted.
Result Code: Allows for selection of a result code from the result code table with an activity type of TE (Transaction Entry). The changes made by this result code will be made on the account when the transaction is ‘posted’ to the account.
TR Cat: This field may be populated with a two character category code. This field has no IMAPCT functionality other than to allow for grouping by the Transaction Category code in ADHOC reports.
Portfolio Manager Expense: This setting controls whether or not this transaction code is available in the Portfolio Manager offering. Select Yes for the code to be available, otherwise leave at the default of No.
Post to Loan Servicing Contract (Principal/Interest): Select No if the current Transaction Code should not be applied to a Loan Servicing Contract (Payment Arrangement Type 2). Leave set to the default of Null if this transaction would affect a Loan Servicing Contract. Commonly set to Yes for the recovery of repossession fees on various Loan Servicing type contracts.
NSF Reversal Transaction Code: Selections are any predefined "NSF" type Transaction Codes that will be used to reverse a transaction that uses the current Transaction Code.
Posting Correction Reversal Transaction Code: Selections are any predefined "Post Correction" type Transaction Codes that will be used to correct a transaction that uses the current Transaction Code.
LEDES Code: Selections are any predefined LEDES codes entered via the LEDES Code Table (Tables - Transaction Tables - LEDES Codes Table). This drop-down associates the current Transaction Codes with a LEDES code for those entities that use the Legal Electronic Data Exchange Standard as part of their Accounting practices.
Transaction Posting Sequence
Transaction Posting Sequence (TPS) code is entered in the Company or Client level. A TPS code has two parts: Company (to handle funds paid to the Company) and Client (to handle funds paid directly to the Client). Each part will then allow for the selection of up to 15 possible Transaction Codes. When a payment is applied to an account automatically via a Transaction Posting Sequence, the money buckets associated with the corresponding Transaction Codes are allocated/paid in the order listed in the Transaction Posting Sequence set-up screen. If the transaction does not pay off the account in full, the payment is allocated starting at the top, paying off each money bucket associated with the Transaction Code selected, until all funds are allocated. A default Overpayment Transaction code is always selected at the bottom. The use of a Transaction Posting Sequence allows for Management to define what money buckets should be paid off first and takes this decision-making aspect away from the Transaction Entry Clerks.
The figure below illustrates navigation to the Transaction Posting Sequence table:
The Transaction Posting Sequence Maintenance window is displayed as shown below:
Add New Transaction Posting Sequence
Click on the ADD button to create a new Transaction Posting Sequence.
The Add New Transaction Posting Seq window appears as indicated in the next image. There are no default values populated:
Example 3: Transaction Posting Sequence - Company
Below is an example of a Transaction Posting Sequence – Company that allocates a payment as follows:
Phone Pay Fees are recovered first, then any Principal amount due. These are followed by: Court Costs due, Attorney Fees due, Misc1 due, and Misc2 due in that order. An Over Payment code is also included.
As we walk through each field, please refer to the Glossary - Transaction Posting Sequence for a detailed written description of each field.
Click on each field that you want to populate on the grid, then click on the drop-down arrow to select the appropriate transaction code. Once the screen is populated as shown above, click on Save to add the Company part of the new Transaction Posting Sequence to IMPACT.
Example 4: Transaction Posting Sequence – Client
Here is an example of a Transaction Posting Sequence – Client that allocates a payment as follows:
Principal amount due, Interest Due, Court Costs due, Attorney Fees due, and Other due in that order. An Over Payment code is also included.
Once the screen is populated, click on SAVE to add the Client part of the New Transaction Posting Sequence.
Back at the Transaction Posting Sequence Maintenance window you should see the following new entries showing:
Glossary - Transaction Posting Sequence
Transaction Posting Seq Code: Populate with a code to identify this particular Transaction Posting Sequence. This will appear on the drop downs on the Company Master and Client Master as detailed in Lesson 104. These codes may be 3 alphanumeric characters.
Company/Client: Select Company if this Transaction Posting Sequence will handle transactions paid to the Company. Select Client if it is to handle transactions paid to the Client.
Transaction Posting SOD: A Transaction Posting Sequence SOD has the ability to control what transaction code is used, the order the codes are applied, and the percentage of the payment that is allocated to each money bucket on a real-time basis as the payment is being entered. This topic will be covered in a later class.
Transaction Posting Seq Desc: This description appears on the drop downs in the Client set up screen when selecting the Transaction Posting Sequence Code. CSS recommends creating a description that would be meaningful to the selection of the appropriate code at the Client level. I.e. if you are creating a Transaction Posting Sequence to be used for a specific client, the description could be the client’s name.
Transaction Posting Sequence:
Over Payment: Select a Transaction that has been defined to function as an overpayment code for Company or Client, whichever is applicable.
A transaction may be entered into IMPACT in three main functions: Manual Entry, EDI Transaction Import, and Processing of Phone Pays. All three methods make use of Transaction Codes as well as Transaction Posting Sequences. These are the elements that will automatically apply a transaction as you have determined, based upon the design of your Transaction Codes and Transaction Posting Sequences.
Let’s walk through an example of Posting a Payment manually and see where the decisions that were made in setting up our Transaction Code 01A (Principal Paid to Company) and our Transaction Posting Sequence USG (User Group) are reflected in the Payment Entry window and subsequently on the account and other tables when the payment is actually ‘posted’ or entered into the database.
The figure below illustrates navigation to Payment Posting:
The Transaction Batch List is then displayed as depicted below:
Create a Batch and Enter a Transaction
Click on the ADD button to create a new Transaction Batch.
The TRANSACTION BATCH – ADD window appears as shown in the following image. The values shown are all default values. The Entry Date always defaults to the current date.
Example 5: Part 1 - Create a New Batch and Open it to enter payments
Below is an example of a transaction batch created to do the following: Post payments to the accounts effective date as of 8-7-17 (in the past). Only allow transactions for the ABC COLLECTIONS company. There are no amounts entered to start with, the Default Hold Days for Batch is 0. There is no Default Mop for Batch selected and the Default Bank for Batch is set to AUTO populate based upon the bank associated with the account at the Debtor Client level. If Null, then the State level. If Null again, then the Company level.
As we walk through each field in the following image, please refer to the Glossary - Payment Posting Part 1 in this lesson for a detailed written description of each field.
Click on each field that you want to either change the default settings for or populate the field if the default is Null. Once the screen is populated as shown above, Click on SAVE to add the Batch to the Transaction Batch List.
The Revised Transaction Batch List will appear as shown in the following image:
To open the batch just created select it from the Transaction Batch List, then right-click to display the File menu options as shown in the following image. These options re also listed as buttons at the bottom of the screen. Choose “Open”.
The Transaction Detail List screen appears and provides the Batch # and Entry Date in the upper right hand corner. If the batch is empty, the list is empty as shown below.
To enter a new transaction for an account/debtor, click on the Debtor Transaction button.
Example 5: Enter a Transaction and Save it
Upon Clicking on the Debtor Transaction button, the Transaction Detail Debtor Transaction window appears as shown in the following image. The upper right hand corner will show the Batch # and the entry # if applicable. Here we see NEW for new Entry.
As we walk through each field in the following image, please refer to the Glossary - Payment Posting Part 2 for a detailed written description of each field.
The following image is an example of a transaction being entered into the batch just created (in this example, batch 2607) and then saved. The transaction is being entered on account/debtor # 000021588 and is a check # 6543 from a forward agent for 856.17, which is a total payment to them of 1070.23 less their fee of 214.05.
Below is a completed screen:
Let us look at zoomed in sections to see what happened:
Enter 21558 in the DEBTOR field and hit TAB. Hit TAB again to move to the PAID TO field. Accept the Default of Company.
Then TAB to the MOP Field and click on the GREY SQUARE to show the drop down selection of Fields, see following image. Scroll down and highlight Code F Forwarding Attorney Payment. CLICK on SELECT.
Then hit TAB to Move to CHK# and populate 6543, then TAB to AMT field and enter 1070.23.
At this point the cursor will move down to the lower left hand corner into the POST DATE field and the payment is allocated as per the Transaction Posting Sequence.
Let’s look at some of the things that happened as a result of the setup from our transaction code 01A and transaction posting sequence USG.
Transaction posting sequence USG allocated first the amount due under OTHER money bucket, then the amount due under Principal.
This is as expected from the USG Transaction Posting Sequence previously created.
Also, a number of items occurred on this entry window as a direct result of the set-up of transaction code 01A.
Here is a refresher of that code setup.
The funds were applied to the PRINCIPAL money bucket, COMMISSION was calculated on the transaction, and a FWD COMMISSION was also taken.
Note that on the payment entry, the STM STS (Statement Status) field is populated with PAR.
Also, because of the Transaction code set up, the debtor status will also be changed to PAR when the payment is posted. (STS = Status)
Finally, the HOLD DAYS is populated because the transaction code is set to ALLOW HOLDS Yes. The number of days comes from the Client Master Set Up – Coding Tab.
Once the payment entry screen is populated, click on SAVE to record the payment entry in the Transaction Detail List. Then HIT EXIT to return to the Transaction Detail List.
Note because this is a FORWARD ATTORNEY CHECK for the NET amount of what was collected, even though a payment of $1070.23 was entered under payment entry, the transaction was split into $856.18 cash (the actual amount of the check) and a non-cash transaction of $214.05.
Click on EXIT at the bottom of the screen to return to the Transaction Batch List.
Notice that the CASH and NONCASH amounts here still show 0.00 for our batch.
Right-click on the batch and select CLOSE.
Because the CASH and NONCASH amounts do not equal the actual amounts in the batch, the TRANSACTION BATCH – Closing Error window appears with the details of the batch. The CASH Amount column is highlighted since there is a difference in that row.
Enter the correct CASH AMOUNT and NON-CASH AMOUNT and click on save.
At the Transaction Batch List, once again right-click and select Close.
Notice that this time, the CASH AND NON_CASH AMOUNTS are populated, and the batch closes.
Click on EXIT to leave the Transaction entry function. You should be back at the ACCOUNTING Sub Menu in the User Interface.
Click on POSTING at the ACCOUNTING menu to now ‘POST’ the payment and record it permanently in the database.
Then Select POSTING PAYMENTS
The TRANSACTION BATCH POSTING PROCESS window appears and defaults to Batch Dates for today’s date.
Since our payment was for a previous date, change the dates to 08/07/17 and click on OK to post that batch.
IMPACT will issue a warning that the entry is back dated
Click on the X to acknowledge the warning and close the window.
A popup appears showing the progress of the transaction posting and when completed, a System Notification appears that the process is complete.
Click on OK.
Please note that IMPACT also offers the ability to have a Workflow SOD process at the time a transaction is posted to an account. This is referred to as the Batch Posting Work Flow SOD (BATSOD type) and will be covered in detail in a later class.
To verify that everything posted correctly, review the Transaction Posting Report in the QUEUE and verify that the totals are as expected.
Return to the Main IMPACT User Menu screen by CLICKING on IMPACT:
Open My Queue from this menu:
Then Print Queue:
To easily locate your Transaction Batch Posting report, enter PTB in the QUEUE ID filtering box. Look for the report with the correct date, time and user id.
RIGHT CLICK on the report listing to display the file menu choices and choose Open Report to review on screen OR Print Report to send to a printer.
Here is a sample of what shows in the report:
Notice that the batch totals match what was on the CLOSED BATCH screen. CSS recommends always checking that your Transaction Batch Posting report equals the same totals for all three columns.
Now Navigate to the Agent Work Screen from the Main User Interface Menu and look up account 21588.
Enter 21588 in Look up Field and Click on Lookup. The Workcard appears.
Upon review of the account the following items have occurred: As per the Transaction code set up, the status has been changed to PAR. The funds were applied to the Other money bucket and Principal money bucket as per the Transaction Posting Sequence.
The Transaction History shows the two entries, one for each money bucket.
Now let’s move on to creating the remittance statement for the client.
Glossary - Payment Posting
Batch Number: Displays NEW for a new batch that is being created. Upon save of the Batch set-up screen, IMPACT will assign the next available batch number.
Entry Date: This defaults to the date the batch is created. If all of the entries in this batch should post as of a prior date, enter that date here.
Company: Defaults to All. A batch can be limited to only accepting transactions for a specific company. This makes it cleaner for Accounting purposes when a Company may have different IMPACT Companies set up.
Commercial Batch: Default is No. Changing this to YES will allow the entry of a single direct payment on a Commercial type account. Upon posting a batch of this type, an INVOICE is automatically created and appears in the queue and the Client Accounts Receivables is updated with the new amount.
Cash Amount: Displays the CASH amount for all transactions in the batch. You may opt to leave this blank and balance this once all trust transactions have been entered. CSS recommends that if you enter a large number of manual payments, a separate calculation of the total be completed either in EXCEL or on a calculator to verify the numbers match.
Non-Cash Amount: Displays the NON-CASH amount for all transactions in the batch. You may opt to leave this blank and balance this once all trust transactions have been entered.
Adjustment Amount: Displays the Adjustment Amount for all transactions in the batch. You may opt to leave this blank and balance this once all trust transactions have been entered.
Default Hold Days for Batch: Enter the number of days to hold remittance to client after the posting date of a transaction, usually the batch date unless overwritten at the transaction entry level.
Default Mop for Batch: A drop down of the Method of Payment table appears here. If the Method of Payment (MOP) for al/most transactions is the same for this batch, the default may be selected here and then will appear on each transaction entry screen automatically.
Default Bank for Batch: Select the default bank account for this batch if needed.
Debtor: Enter a debtor number here to bring up that account to enter the transaction. You may also click on the GREY rectangle next to the field to enter LOOK UP mode, or CLICK F6. Once an account is looked up, the Debtor Transaction Entry Detail screen will populate with Account Disposition, Demographic and Financial information of the selected account.
Paid To: Select if this transaction was paid to the Company (Your Agency) or Client. Once you select a setting for the batch, it will remain at that setting until you change it.
MOP: Select from the drop down or Input the MOP that this transaction will be applied with. The Main tab under System Parameters now has a field to control if a MOP if required. When creating a Bank Deposit Slip, there is the capability to include or exclude selected Method of Payments.
Chk#: Enter the check number or other pertinent information of this transaction. This field is saved as part of the transaction history.
Amt: Enter the amount of the payment/transaction.
Ref#: Enter a Reference Number if required. This is used solely on the bank deposit slip created prior to posting the batch. It is not stored within IMPACT!. This field is normally automatically skipped during payment entry.
Apply to PPA: By default will apply payment to existing payment arrangement. Uncheck if payment will not apply to existing payment arrangement.
Payment Allocation Grid Fields
Transaction Code: The transaction code gets automatically applied by the transaction posting sequence routine or you may override this by applying a different desired Transaction Code as shown.
Amount: This field is populated by the transaction posting sequence when you enter a Payment Amount. This field can be edited.
Rate: The RATE is populated with the correct commission rate as configured within the Client Table under the Coding tab. This field can be edited.
Commission: The commission amount is automatically calculated based on the RATE amount. Changing the RATE field will change this field.
Desk: This field is automatically populated with the Desk that this particular account is assigned to.
Stm STS: The Statement Status field is a Status that will reflect on a client statement report other than the account status. If the transaction entered for this allocation has a Statement Status associated with it, this field will automatically populate. This field can be changed.
FWD Fee: The Attorney Forward Fee field can be either automatically populated by account attributes or may be entered manually.
History Notes: The History Notes are notes that will be displayed in the NOTE field under the Transaction History window.
Post Date: This field allows you to enter a date that this transaction should post as of. If in the future, IMPACT will move to the Post Date Batch. If in the past, this transaction will post as of the data entered here and not the Batch Date.
Hold Days: This field allows you to hold remitting a specified number of days after the effective posting date of this transaction.
Statement Memo: This field allows you to enter any notes that will be included within a statement report. If this transaction has been applied to invoices, they are automatically listed here with the amount applied to each invoice.
Bank Acct: If a default bank account was selected under Batch Set Up, it will automatically be populated here. This field can be changed
The Check and Statement Cycle will post, compute, and generate all Checks and Statements (Statements include: Transaction Summaries, Client Invoice/s, and Transaction Details by Client). Statement type, format, cycle, and sorting options are all controlled at the individual client code level.
The figure below illustrates navigation to the Check and Statement Cycle function:
Create Check and Statement
Once “Checks and Statement Cycle” is selected, the Check and Statement Cycle window appears. This window allows for selection of the cycle, company, client, even a specific debtor number to create a statement on. The Remittance through date is selected as well as a Statement is entered. IMPACT will default to the starting invoice number and the user will enter the Starting check number. Additional options towards the bottom are Include Column Headings, the Location of the Company Heading, Include Salesperson in Heading and finally, the Statement type to be produced. The source of the System defined drop downs is indicated below. Values for other drop downs are included in the Glossary.
Example 6: Create Check and Statement for 000021588
To create a statement for the payment just entered on debtor 000021588, populate the screen as indicated in the following image.
As we walk thru each field on the Checks and Statement Cycle Window, please refer to the Glossary - Remittance Checks and Statement Cycle for a written description of each possible value.
Leave the Cycle blank when entering a specific Company and Client Code. To run all statements for a specific cycle(s), click on the cycle(s).
Populate the rest of the fields as indicated here:
Leave the Company and Client fields blank and enter only the debtor number. To create a statement for all payments for a specific client, enter the company and client and leave the debtor number blank. Note the Remittance Thru date is populated with 8/12/17. This payment is not available for remittance until Aug 12, 2017 due to the 5 day hold entered at the time of transaction entry.
Click on OK at the bottom of the window:
While Statements are processing this pop up will display.
Once completed, this pop up will display:
The Checks and Statements produced will be found in the Queue:
- Checks: Statement Cycle: These are the checks that can be printed from the system and sent to the clients
- Check List from Statement Cycle: List of checks
- Statements: Client Invoices and Statements to be sent to the clients
Please refer to documentation for Class 104 for a sample statement.
If you find a discrepancy within the Checks or Statements and require to re-run this process, you may do so as long as you have not run the Purge Statement Cycle as explained below.
Once all checks and statements are completely correct you will now “Purge the Statement Cycle” by processing the Purge Statement Cycle as shown below.
This process will permanently apply all generated checks and statements to IMPACT, remove the information from the Remittance Table and update the Client Accounts Receivable (Remittance Invoice Table).
The figure below illustrates navigation to Purge Statement Cycle:
User will be asked three times before Statements can be purged
Once the final YES is clicked on, the Statement Purge Process will run. When completed, the following pop up will display:
The statements that were just purged can be reproduced and entered back in the queue for review at any time from the Processed Statements/Statement Archive function:
Upon clicking on “Processed Statements”, a List of available Processed Statement appears:
The bottom of the screen has these choices:
To Recreate a Statement (add it back into the queue to print again, this does not recalculate anything), first find it on the list using the GOTO function.
Populate the Company, Client, and Run date fields. This will be equivalent to the date entered as the statement date when processing checks and statements.
Click on the Selected Statement to HIGHLIGHT and then Click on RECREATE.
The pop-up with the following options appears:
Click on Ok. When completed, the following pop-up appears:
Click on OK, then EXIT the Recreate Statements function.
The recreated statement may be found in the QUEUE.
Glossary – Remittance Checks and Statement Cycle
Transaction Posting Seq Code: Populate with a code to identify this particular Transaction Posting Sequence.
Choose Cycles: Select a cycle that you would like to generate Client Checks and Statements for. Cycles are defined within the Client Table under the Coding Tab.
Which Company: Select a specific company for which to generate Client Checks and Statements. Leave blank for all.
Which Client: Select a specific Client for which to generate Client Checks and Statements. Leave blank for all Clients that qualify by a selected cycle/s.
Which Debtor: Select a specific Account/Debtor for which to generate Client Check and Statement. Leave blank for all Accounts/Debtors that qualify by a selected cycle/s.
Remittance Thru: Select the remittance date up to when you would like to generate the Checks and Statements through. Example, if you wish to generate Checks and Statements for the month of January 2016 you will enter a Remittance Thru date of 01/31/2016.
Statement Date: Select the date that you wish your Checks and Statements to reflect once generated.
Starting Invoice Number: IMPACT keeps track of the last Client Invoice Number generated; this field will be populated and can be re-initialized by your input.
Starting Check Number: Input the starting check number that corresponds to your check stock to be used for printing.
Include Column Headings: Options Yes or No. During the generation of Statements depending on your paper stock, you may elect for IMPACT to print out all statements with their respective headings. If you already have paper stock that already includes pre-printed column headings, you may elect to exclude the printing of the column headings by selecting No for this option.
Company Heading Location: Options include (“Upper Left Corner on Every Page” or “Below Statement Summary on First Page”)
Include Salesperson in Heading: Options Yes or No.
Statement Type: Options are Statements with/without Invoices, Statements with Invoices only, and Statements without Invoices only, and Client Costs Billing.