Used to identify the method of payment for revenue records in Client Payments and General Ledger. This is not a user-defined list, and records cannot be added or deleted. The list is intentionally restricted to be able to manage financial calculations used throughout the entire system in a consistent manner.
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Main Menu > Selects > N-Z > Payment Types
Applies To: Enterprise Plus Basic
Field Details
- Payment Type records cannot be deleted or added. However, a user can change settings to display only the Payment Types desired.
- Income Calculation: This value determines how a Payment Type is used in income calculations. This value cannot be modified.
- If values are changed after data entry has started, the change affects all prior data as well.
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Balance Due: Identifies how a Payment Type is handled in Balance Due calculations. Payment Types tagged as "Include" are included in the balance due calculation. Payment Types tagged as "Exclude" are excluded in the balance due calculation.
- Credit Given: This payment type should be tagged as "Exclude".
- Display Option: Check to display payment type as an option.
- Display Online: Check to display payment type as an option in the Web Registration module.
- Allow Refund: Check to enable the display of the refund option on a Client Payment transaction for the matching payment type.
- Display Credit Message: Check to enable the display of the “Credit Card Not Processed” message in the Client Payment results list. The message will display in red in the same row for any credit card refund payment that does not have a deposit date and the display has been enabled. The message is also a link to launch the payment processing window.
Important Notes
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Specialty Payment Types:
- Adjustment: Works identical to the Discount payment type in regards to calculations. The Adjustment option is available to account for a reduction in the amount due when a discount is not a valid reason. Adjustment accounts for all other reduction reasons.
- Internal: Works in the same manner as cash or check. The Internal option is available to account for internal organization transfers, grants, vouchers, subsidized, or other methods where some form of internal bookkeeping is used versus an actual cash form of payment received.
- Wire: This is considered the same as a cash-type transaction for all accounting calculations.
- Gift Card: This is a reserved type for a unique gift card retail program. It is not recommended to enable this payment type without Xenegrade's approval.
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Uncollected Funds: Treated similar to a refund by adding the amount back into the balance due.
- For example, if a client made a payment of $49 by check and the check bounces, a new transaction record for $49 should be entered with the payment type "Uncollected Funds". This will cancel out the original payment in the balance due calculation and still show a correct amount balance due.
- Refund Transactions: The Refund checkbox cannot be used with OnAccount Given, OnAccount Used, and Entry Error payment types. If Refund is checked when these payment types are used, the Refund field will be unchecked when the record is saved.