TRANSACT: Understanding the Data Elements

Settings

Organisation:
- Organisation contact details and from / reply to email addresses can be updated here
- Payment Terms (days) are set here. The payment terms are consistent across TRANSACT. When creating a contract for a child you will add line items with a "Bill Date", this is the date the invoice will be sent. The Due date on the invoice will be calculated as Bill Date + {Payment Terms days}
Items: Items are used to classify amounts collected on invoices or forms for effective and efficient reporting. To learn more view this Items article.
Programs: mapped directly from EnrolNow One, the program information contains pricing and organisation details for ease of creating standard payment plans
Payment Plans: Payment plans are used to define the amounts and categorisation of invoices to be issued, including the dates for invoice send and coverage dates. These payment plan templates create efficiency when creating an individual contract for each child. To learn more view this article. TRANSACT: Understanding Payment Plan Templates

Children

Children are mapped directly from EnrolNow One to Transact with the key data elements required for setting up invoicing and producing reports
All children will be available in Transact when created in EnrolNow One, however they will only be considered for a contract at the point that their status in EnrolNow One (either Current or Upcoming) is updated to Enrolled
Key data elements include:
- Child details and Parent Contact Details
- Enrolment details for the current care period + an assessment of eligibility for subsidies
- Enrolment details for the upcoming care period + an assessment of eligibility for subsidies
- Payment Details - mapped from Payrix. A child will default to invoice payment until an eDDR is submitted. To find out more about payment methods refer to this help article

Contracts

A contract is the unique set of line items that an individual child will be subject to for the care period. Usually created from a payment plan template this contract can be edited to suit individual child requirements by changing the default payment plan editing a line item, adding a new line item, used or changing the transition date (to affect pro-rata calculations).
When a child is enrolled in EnrolNow One, this will automatically update the child record in Transact and "propose" a Contract for the child based on the relevant Payment Plan Template for the:
- Enrolled Program, and
- Fee Subsidy Status of the child

The proposed contract can be approved, edited or rejected.

Invoices

Once approved, the line items on the contract will automatically create an invoice which will be sent on the defined invoice date to the family.
Payment will be required (invoice payment) or deducted (automatic) based on the payment terms defined in Organisation settings
Status of invoices will be updated to reflect payment and display email statistics
Actions can be taken from invoices to Cancel an invoice, resend an invoice, take payment manually or resend a receipt.