Configuring transaction payment codes
Transaction payment codes indicate payment types. For example, P can indicate a principal payment and I an interest payment. These codes are used in the Statement Payment Code field when configuring flexible transaction codes. For more information, see Configuring flexible transaction codes.
The following codes are already available in The Collector System; you can create additional codes as necessary.
|
Standard Transaction Payment Code |
Payment Type |
|
P |
Principal |
|
PN |
Principal non-sufficient funds |
|
I |
Interest |
|
IN |
Interest non-sufficient funds |
|
M |
Miscellaneous |
|
MN |
Miscellaneous non-sufficient funds |
The system accepts up to 17 payment codes. The codes you set up here should be the ones your agency uses most often to represent payment types.