Payment Processing
Overview
DebtRecoup provides payment processing capabilities including single payments and payment plans. The system tracks all payment activity and maintains transaction histories.
Account fees are managed separately on the account Fees tab. See Fee Management for flat and percentage fee workflows.
Payment Modal
Accessing Payments
To process a payment:
- Open the account
- Click Take Payment button
- Payment modal opens
- Select payment type (Single Payment or Payment Plan)
- Enter payment details
- Submit the payment
Payment Tabs
The payment modal contains two main tabs:
- Single Payment - One-time payments
- Payment Plan - Recurring payment schedules
Single Payments
Payment Fields
| Field | Description |
|---|---|
| Payment Method | Saved method used for the payment, such as Credit Card or Manual |
| Payment Date | Required payment date |
| Amount | Payment amount |
| Type | Payment type (Partial Payment, Balance in Full, Settlement / Agreement) |
Use Add Method to open the Add Credit Card form from the payment modal. Saved manual methods can also be selected when available; manual method details include a payor name and optional reference.
Credit Attribution
Payments can be credited to one or more collectors:
- Add additional collector rows to split credit
- Assign percentages to each collector
- Percentages must total 100%
Payment History
The payment modal shows previous payments on the right side, including:
- Payment dates and amounts
- Payment status
- Payor information
Payment Plans
Creating Payment Plans
Payment plans use a linear Details, Schedule, and Review flow.
| Field | Description |
|---|---|
| Total Plan Amount | Total value of the payment plan |
| Type | Payment plan type (Balance in Full or Settlement / Agreement) |
| Down Payment Date | Required date of the first/down payment |
| Down Payment Amount | Required initial payment amount; must be greater than zero and less than the total plan amount |
| Frequency | How often installments occur (Weekly, Every 2 Weeks, Monthly) |
| First Installment Date | Required date when installment payments begin |
| End of Month? | Optional monthly-plan checkbox shown when the first installment date is an end-of-month date |
| Calculate By | Calculate using Number of Installments or Installment Amount |
| Number of Installments | Number of installment payments; entered when calculating by installment count or calculated when calculating by amount |
| Installment Amount | Regular installment amount; entered when calculating by amount or calculated when calculating by installment count |
| Final Installment | Calculated adjustment when rounding leaves a different final installment amount |
| Plan End Date | Calculated final payment date |
The Review step summarizes the amount breakdown, schedule, installment details, and credit attribution before the plan is submitted.
Payment Status
Payments can have the following statuses:
| Status | Description |
|---|---|
| Awaiting Approval | Waiting for review or approval |
| Queued | Scheduled for processing |
| Posted | Successfully processed |
| Declined | Payment was declined |
| Charged Back | Payment was reversed |
| Halted | Payment processing is stopped |
| Voided | Payment was voided |
Payment Tab
The Payments tab on an account shows:
- Non-voided payment attempts by default
- Payment status for each transaction
- Payment methods used
- Transaction details
- A Show Voided toggle when voided payments exist; after toggling, the button changes to Hide Voided
Best Practices
Payment Entry
- Double-check amounts before submitting
- Verify the payment method is correct
- Select the appropriate payment type
- Process payments promptly
Payment Plans
- Set realistic payment amounts the debtor can afford
- Consider processing time when setting start dates
- Monitor plan compliance
Credit Attribution
- Apply credit fairly based on who secured the payment
- Document credit split decisions when needed
Related Topics
- Processing Payments Workflow - Step-by-step guide
- Payment Tab - Payment history
- By Payments - Payment activity view