Managing transactions

The postings that you make every day update that statistics that create essential reports and immediately update accounts to reflect accurate financial information.

While you are posting transactions in The Collector System, you may see some or all of the following messages displayed by the system, depending on the actions you are performing:

When posting payments to an account that is either house delayed, on a payment plan, packeted, or forwarded, the system displays a warning message to help you determine if the payment is to be spread over several accounts, which desk to use for commissions, or alternate transaction codes.
If an account is on a notice series and the transaction is not NSF, the system displays the prompt Notice Series in Effect. OK To Stop (Y/N). If you enter Y, to stop the notice series, the system writes a note to the account indicating that the notice series was canceled in Post.
If NSF adjustments have been posted against this account, the message NSF Check was Reported (date) displays. This message is for informational purposes only and does not prevent you from posting payments to this account.

For each transaction you post, The Collector System automatically records the time the transaction was posted. This is true for any routine in The Collector System that generates a record for an electronic transaction, including:

Direct transactions (manual or automated)
Indirect transactions, such as charges and interest
Client charges and payments
Canceled transactions

The Collector System only records the time the transaction was posted—not the time when the payment was actually received.

The system records the time in hours, minutes, seconds, and AM/PM format.