Transaction Fees
Use the Transaction Fees option to establish fees, which will be automatically generated and applied during processing, for specific transaction types. For example, suppose the plan charges the participant $75 as a LOAN processing FEE. TSM SmartClient will automatically generate a FEE transaction when a LOAN transaction is generated. You can also use the Transactions > Fees / Insurance Premiums > Fees option to establish fees. These fees will also be applied when a participant requests transactions over the VRU or Internet.
Note: If Gross Fee is not selected, the Loan Fees uses the system default, which is set to build the loan transactions w/ a Net Fee.
See How to Create, Modify and Delete Automatic Fees
How to Access the Transaction Fees Window
On the Setup menu, point to Transaction Rules and the click Transaction Fees. The Transaction Fees window displays.
Explanation of Fields
|
Field Name |
Field Description |
Required / Optional |
|
Transaction |
Select the transaction type from the list. |
Required |
|
SubType |
Select the subtype, if any, from the list. |
Optional |
|
Transaction Profile |
Select the profile, if any, from the list. |
Optional |
|
Start Date |
Enter the date the fees go into effect. |
Required |
|
End Date |
Enter the date the fees are no longer in effect. |
Optional |
|
Fee Amount |
Enter the amount of the fee per transaction. |
Fee Amount or Fee Percent is required |
|
Fee Percent |
Enter the fee as a percentage of each transaction. |
Fee Amount or Fee Percent is required |
|
Bill To |
Select the party to bill: Select Participant if the bill is to be sent to the participant. Select Plan if the bill is to be sent to the plan. |
One is required. |
|
Create Transactions |
Select this check box to create a fee transaction. This transaction will appear in the Inquiry > Transaction Inquiry window. |
Optional |
|
Include on Invoice |
Select this check box to include the fee in the billing invoice. |
Optional |
|
Gross Fee |
Select this check box to apply the fee to the transaction but not net it against the transaction amount. |
Optional |