Payment Allocation Rules

Debts can be made up of different components including debt, costs and interest. These components are transaction types in DebtCol. Rules for allocating debtor payments across these different components will govern the order each component has payments applied to it. For example a payment allocation rule for debt, then costs, then interest would apply an incoming payment value to transaction types classed as "debt" first, then "costs" and finally "interest". Any number of combinations can be defined here.

Administrator Tools > Payment Allocation Definitions

Choose an existing option from the "Code" field to modify it.

OR choose an existing option then carbon-copy it to quickly create a new one.

OR manually create a new one using a unique code, describing it then specifying each transaction type in the order that payments must be applied.