The Payment Code defines the type of transaction that is being represented by a particular line item.  The transactions can be for a receivable, payable, chargeback, or claim-related item and in order to reconcile correctly a thorough understanding of what is needed for each type is essential.  For a more detailed understanding refer to the Applying Payments and Charges to Detail Records section.

 

The table below lists the available payment codes used within Payment Management. 

 

Payment Code

Description

M

Cash received will have a Payment Code of “M” and be associated to a transaction with a positive dollar amount.  If the dollar amount is negative, then the item is considered a van line chargeback.

P

Payments owed will have a Payment Code of “P” and be associated to a transaction with a positive dollar amount.

C

A Payment Code of “C” indicates that the transaction is for a claim.