When correcting payments, it's important to have a comprehensive understanding of the following terms as they are used in ACE. Reviewing related articles and content can help provide that understanding in greater context.
is used when a balance needs to be adjusted or if a fee needs to be added to any buckets
is a financial transaction in which a customer disputes a charge made to their account and requests a refund from the merchant or bank that processed the payment. This can occur for a variety of reasons, including unauthorized transactions, fraudulent activity, or disputes over the quality or delivery of goods or services.
a tool to prevent/block a payment from appearing on an invoice
used to return a payment to the consumer (secure via Credit Card or ACH transaction; manual mixed like check or cash - customer can generate a check to send to the payment back to the consumer) - see "Reverse" which is strictly an accounting fix at the account level and does not return funds to the consumer
a tool to delay a payment from appearing on an invoice until the next invoice cycle-perhaps to allow the particular payment more time to clear
the entire amount received from the consumer and posted or entered to the account
Every transaction or payment is posted to a batch in ACE.
the receiver set on a transaction batch identifies who received the payment and dictates how the payment is managed in ACE for invoice and remittance purposes:
- Owner (customer received the payment from the consumer)
- Direct (customer's client received the payment from the consumer)
- Forward (a forward agency received the payment from the consumer)
- Legal (an attorney received the payment from the consumer)
Payment destinations consist of Manual Mixed Payments and Secure Payments.
- Manual Mixed Payment Destinations require agencies to manually open, close and deposit batches.
- Secure Payment Destination automatically handle batch opening, closing, and depositing.
payments remain in a pending status until the batch is deposited
strictly an accounting fix at the account level and does not return funds to the consumer - see "Credit" definition for the method to return a payment to a consumer
utilized to rectify an incorrectly posted payment in an open batch. A record will be added to the account indicating that a payment was voided.
In the case where multiple payments within a batch have been posted incorrectly, voiding the batch is an option.
is a method to correct the way a payment was spread.
It is highly recommended that you consult with support before un-spreading a payment.
provides the agency the ability to review the invoice before proceeding to next steps
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