On the left side of the screen, look for the Administration Subheading, and find the Payment Allocations Entity. If you don’t see this option, you may not be an Admin, so check with your Firm Administrators for clearance to access this Entity.

On the top of the screen, click the +New button.

Fill in the Name of the Payment Allocation Type and choose the Account to which you’d like to associate it. If you don’t see the Account to which you’d like to associate the Payment Allocation Type, follow this Guide here to create the Account. Lastly, choose the Designation from the list of available options.

*One Final Note* - Interest Allocation Types need to be specifically created as shown below. You'll need to create a Payment Allocation Type with a Designation of "Interest" in order to Allocate funds to an Interest Charge/Fee.

If you need to create more Payment Allocation Types, click Save and then +New, but if you’re finished, click Save & Close instead.

Now that you've created a Payment Allocation type, you'll no-doubt want to Allocate some funds once your Client makes a Payment. Click here for a Guide on Payments and Allocations!

Did this answer your question?