This is the overview page, and where you add, edit or delete transactions (payments, costs, fees), process adjustments, and print a Statement of Account (receipt) for a debtor. We’ll break down the different sections here.
The Transaction Summary
The Transaction Summary is at the top of the Transactions tab. This always defaults to today’s date. Changing it and clicking Re-Calculate will alter the numbers shown in the Pre-Judgment and Post-Judgment overview columns as if it were currently that date.
You will also see a brief summary of information from the Claim Details page, including the Debtor Name, Client Name, Account Number, and so on.
One popular field listed here is the Current Per Diem, which can change dynamically depending on how the interest has been set to accumulate on the account, and how large the balance is each day. It is based on the interest rate settings on either the Pre-Judgment sub-tab (if only a Pre-Judgment Claim exists) or on the Settings/Judgment sub-tab (if a Post-Judgment Claim exists).
The Account Summary
These overview columns in the Account Summary show a breakdown of the total Interest, Amount (Pre or Post-Judgment claims), Costs, Fees, and Payments, along with the total Balance Due. By default, an account with only a Pre-Judgment claim amount will show the single column in the Account Summary section (seen above).
If you add a Judgment (also called “Post-Judgment”) amount to the account, a second column will appear. New transactions posted on or after this Judgment date will only apply to the right-hand column (seen below):
Clicking on the See Current Allocation Balances button will also display the remaining amounts left to be paid to each allocation (Principal, Interest, Costs and Att. Fees):
Right above the Account Summary columns is also a link called: [Print Statement of Account], which pops up with a receipt-style page that can be printed or exported for the debtor.
The Add New Transaction Section
The Add New Transaction section is where you can enter payments, costs and fees to the account. The fields here include the following:
- Financial Column Visibility: Clicking the gear icon to the left of the Date column header opens up an options menu that allows you to choose which columns are displayed within the Financial Transactions screen:
- Date (Required): The date of the transaction. It is important to note that the date entered for a transaction must be ON or AFTER the date of the claim (whether Pre or Post-Judgment) for it to calculate properly.
- Description (Required): This is the type of transaction you’d like to apply to the account. It can be a payment to reduce the balance, or a cost/fee to increase it.
- Amount (Required): The amount ($) that you’d like to set for the transaction.
- Note (Optional): A field for other important information about the transaction.
- Collector (Optional): The collector assigned to a payment type transaction receives credit for it on certain reports. This will default to the collector assigned to the account on the Claim Details page, if one exists.
- Co-Collector (Optional): The co-debtor assigned to a payment type transaction splits credit evenly with the collector (50/50), and their earnings are shown on certain reports.
- Co-Co-Collector (Optional): The co-co-collector assigned to a payment type transaction splits credit evenly with the collector and co-collector (1/3rd each), and their earnings are shown on certain reports.
Once the necessary fields are filled out, you click the Insert Transaction button to post it to the account. Depending on what information you chose, or what is enabled on your SimplicityCollect account, you may be required to address additional information in a pop-up window before the transaction posts.
Next, check out the following Articles:
How to post a Payment
How to post a Netted Payment
How to post a Client Payment (Direct to Client)
How to post a Cost
How to post a Fee
How to add an Adjustment
How to mark a transaction as VOID
How to mark a transaction as NSF
How to override allocations/disbursements for a payment
How to edit a transaction
How to delete a transaction
See anything missing or out of date on this page? Please contact Simplicity Support at firstname.lastname@example.org.