Payment Transaction Codes Used for Consumer Transactions

There are different payment codes for each type of transaction. It is very important that the correct payment transaction code is used for the transaction, since client remittance statements, cash and statistics are impacted. Payment transaction codes can not be created or modified from their original purpose by anyone but Quantrax.

The following payment transaction codes (system control menu 2 - payment/adjustment codes - payment codes) are available:

•  01 - Consumer paid the agency
•  02 - Consumer paid a forwarded agent (another agency or attorney) who retained their fee and sent the balance to the agency
•  03 - Overpayment by the consumer to the agency. This payment code is automatically created by the system for any portion of a payment which exceeds the balance
•  11 - Consumer paid the client
•  13 - Overpayment by the consumer to the client
•  21 - Returned check for consumer paid agency transaction
•  31 - Returned check for consumer paid client transaction
•  41-49 - These are user-defined balance adjustments
•  54 - Additional commissions which need to be billed to the client - does not increase the consumer's balance - appears on statement - not balance type specific 
•  55 - Additional charges which need to be billed to the client - does not increase the consumer's balance - appears on statement - not balance type specific  
•  56 - Per-account charges. It is possible to charge a client based on the number of accounts processed. This charge is automatically computed when the option "per-case charges update" is run (client statement menu - per-case charges update). In most cases, a user will not enter transactions with a payment transaction code of 56
•  57-58 - Additional charges which need to be billed to the client - does not increase the consumer's balance - appears on statement  - not balance type specific - user defined  
• 59 - Additional charges which need to be billed to the client - does increase the consumer's balance - appears on statement. This transaction will increase the consumer's balance (similar to a balance adjustment) and bill the client for the same amount (an example of its use would be costs which need to be billed to the client and will become a part of the consumer's responsibility)
•  61 - Forwarded agent's commission due. This transaction is usually generated by the system when a payment is processed for an account which is forwarded to an attorney or another agency. Payment transaction code 61 means a fee is due to that agent, and this is automatically paid on a forwarded agency remittance when statements are generated. Note: A payment transaction code 02 should be used in the case where a forwarded agent retained their fee and sent in the balance and does not appear on the forwarded agency remittance. 
•  71 - This transaction is used to refund an overpayment to the client. The consumer's balance is increased and the money is returned to the client on the client remittance statement
•  72 - This transaction is used to indicate that an overpayment has been returned to the consumer. RMEx does not refund to a debtor, but once money has been returned by the agency to the consumer, payment transaction code 72 should be applied, to increase the consumer's balance and record the transaction
•  73 - If there is an overpayment which will not be refunded to the client or the consumer, a payment transaction code of 73 should be used to record the fact that the credit balance has been retained by the agency. This transaction is referred to as an overpayment adjustment and it increases the consumer's balance
•  90 - This transaction does not affect a consumer's balance and is called a commission adjustment. It is used to increase or decrease the collector's commission (fees collected) on an account  

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