When configuring charge schedules, creating financial transactions, or working with financial batch functions and tasks, transaction codes are used to correctly allocate transactions within accounts.

For processing payments and deposits, “transfer in” and “transfer out” transaction codes must be defined within the payment and deposit accounts. The default “transfer in” and “transfer out” transaction codes must also be defined to work with the Auto Apply function. When using Auto Apply, ResCenter selects the charges for applying payments.

To exclude a charge account from the Auto Apply function—such as for a housing charge account, a default “transfer in” transaction code should not be defined for that account.

To void transactions or use the Reverse Financial Batch batch function, reverse transaction codes should be set for all transaction codes except those used internally by ResCenter (refer to the Transaction Code Types table below).

When resetting patron account balances to zero using the Reset Patron FT Balance batch function, use a reset transaction code for each transaction code affected by the reset. The batch function only affects Regular-type accounts (such as those for housing charges).

Transaction Code Types

The following table provides details about each Transaction Code Type: