This guide explains how to create, set up, edit  Transaction Types at the Firm level. Transaction Types include Charge, Payment, and Credit types, which are used on Association Homeowner ledgers.

Navigation:
 Go to Accounting > A/R > A/R Setup > Manage Firm Trans Type.

 

Setting Up a Charge Type

  1. Add a New Transaction Type
    • From the Page Action drop-down menu, select Add Item.
  2. Fill in the Overview Fields
    • Title: Enter the name of the Transaction Type.
    • Add to Ledger: Specify the Firm Ledger for this Transaction Type, if applicable. Leave blank if no additional ledgers are used.
    • Trans Type: Select the Charge radio button. (This cannot be changed later.)
    • Active: Check this box to activate the Transaction Type. Uncheck to deactivate if needed.
    • Coupon: Use this if coupons are used for billing:
      • To bill multiple Transaction Types together, assign the same Item Number to all.
      • To bill Transaction Types separately, assign a different Item Number to each (up to 5 types).
  3. Complete the Charge Fields
    • Include in Past Due Amount: Include this charge in the Past Due balance.
    • Include Auto Application: Allow payments to automatically apply based on Payment Application Priority.
    • Include in Recurring Payment: Add this charge to Automatic Drafts, if applicable.
    • Payment Application Priority: Set the priority for applying partial payments (1 = highest priority).
    • Payment Application Method: Choose how payments are applied (e.g., oldest first, newest first, or split evenly).
  4. Save the Transaction Type
    • Click Save to finalize the setup.

 

Setting Up a Payment Type

Follow the steps for setting up a Charge Type with these changes:

  • Step 2: Select Payment as the Trans Type.
  • Step 4: Complete these additional fields:
    • Use for Cash Receipt: Check this box to make the Payment Type available in the payment entry drop-down menu.
    • Cash Receipt Default: Check this box to make this Payment Type the default for cash receipts.

 

Setting Up a Credit Type

Follow the steps for setting up a Charge Type with these changes:

  • Step 2: Select Credit as the Trans Type.
  • Complete these additional fields:
    • Ownership Change: Check this box to enable this Credit Type for clearing Former Owner accounts during ownership changes.
    • Default Ownership Change: Check this box to make this Credit Type the default for ownership changes.