Transaction Types

TBS maintains Customer balances using four (4) specific transaction types. 

Transaction Types used to Increase Customer Balances are:

• Charges – Charges are applied to account as a result of the billing process.  They cannot be manually entered by a user.
• Debits – Debits are manually entered by a user to increase a customer’s balance.  Some example Debit Transactions include: 
  • Moving a balance from one account to another.  You would Credit the account the balance is being move from and Debit the account the balance is moving to.
  • Reversing a payment (NFS Check) or an erroneous payment/credit.
  • Finance Charges.  Optionally, the system can be configured to create a finance charge on past due accounts. Note: Finance charges can be applied as either a Transaction or simply applied during the billing process.  The difference is how the finance charge will be displayed on the invoice.

Transaction Types used to Decrease Customer Balances:

• Payments – Payments are the most common type of transactions entered by users.  Payments are generally:
  • Check or Cash payments
  • Credit Card or ACH (Bank Transfer) payments processed via TBS.   These are initiated by either the Customer or an Internal User with proper security rights.
  • Lockbox payments.  These types of payments are generally checks that are sent directly to a bank for processing.  The bank then sends a data file containing a record of each check received.  This data is imported into TBS and then the payments are applied to the appropriate customer accounts.
• Credits – Credits are used to decrease a customer’s balance.  Some example Credit Transactions:
  • Correction for an incorrect charges and/or taxes from an invoice
  • Moving a balance from one account to another.  You would Credit the account from which the balance is being move from and Debit the account the balance is moving to.
  • Doing an “Account Write-Off” due to uncollectable bad debt.