Transactions |
  
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Transactions |
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Overview
Transactions are the backbone of how funds transfer in and out of accounts. Transactions are also used to track any activity the system performs on accounts. GOLDPoint Systems has hundreds of transaction codes for different uses.
Using GOLDPoint System's General Ledger system and the Autopost system, your GOLDPoint Systems account manager sets up the behind-the-scenes details of which general ledger accounts are credited or debited when transactions are processed. For example, late fees paid by customers are automatically debited from the customer's account and credited into a specified general ledger account.
Some transactions are performed automatically by the system in the afterhours (e.g., interest, amortizing). Other transactions are performed via your website when customers make payments. The third way transactions are performed is through GOLDTeller, when a teller runs transactions for customers' accounts.
Many fields in CIM GOLD require transactions in order to update information. For example, the loan principal balance is not file maintainable through CIM GOLD screens; however, running a loan payment transaction causes the principal balance to decrease.
The History screen records all transactions for a given account, as well as where the transactions originated. Transactions are recorded using a transaction code, which relates to the type of transaction that took place. Transaction Origination Codes (TORCs) specify where the transactions originated.
Additionally, many reports use transaction codes to collect data.
See the following topics for detailed information concerning transactions: