Payment Processing
Overview
DebtRecoup provides payment processing capabilities including single payments and payment plans. The system tracks all payment activity and maintains transaction histories.
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 | How the payment is being made (Credit Card, ACH, Check, etc.) |
| Payment Date | Date of the payment (defaults to today) |
| Amount | Payment amount |
| Type | Payment type (Partial, Balance in Full, Settlement) |
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
| Field | Description |
|---|---|
| Down Payment | Initial payment amount (can differ from regular installments) |
| Installments | Regular payment amount |
| Frequency | How often payments occur (Weekly, Bi-weekly, Monthly) |
| Number of Payments | Total number of installment payments |
| Start Date | When the first installment is due |
| Ending On | Calculated final payment date |
Payment Status
Payments can have the following statuses:
| Status | Description |
|---|---|
| Posted | Successfully processed |
| Queued | Scheduled for processing |
| Failed | Payment was declined |
| Chargebacks | Payment was reversed |
Payment Tab
The Payments tab on an account shows:
- All payment attempts
- Payment status for each transaction
- Payment methods used
- Transaction details
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