How to Adjust Settlements

This article describes the steps involved in adjusting settlements within the Forth system. This article includes the following topics:

• Overview
• Adjusting Settlements

Overview

The Adjust Payments page allows you to change existing settlement transactions, consumer debits, and adjust fees and credits. Only transactions that have not yet been matched or cleared can be edited or modified. You can change many things, including individual settlement payment types (e.g., check by phone to direct pay), reference number information, amount, process dates, and cancel transactions.

NOTE: Payment Types display the same value on both the Settlement tab and Edit Settlement tab. Any change made to payment types in the Edit Settlement tab are automatically reflected in the Settlement tab. 

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Adjusting Settlements

1. Do either of the following:
   • From the Client Dashboard click Enrollment; or
     
   • Click the Enrollments tab, and then in the "All Enrolled Customers" table, click the right-facing green arrow icon for the appropriate contact (see the image below).
2. Click Adjust Payments located in the Navigation Bar.
   

3. Select the Settlement Payments subtab/section (selected in the image below).
   

   IMPORTANT: The Adjust Payments form displays the pay frequency dropdown menu on page load, independent of whether a frequency is selected on the enrollment plan. lf no frequency is selected on the enrollment plan, the default selection is Monthly.

4. Configure the changes you wish to make to the transaction(s), then check the boxes next to the part(s) of the transaction(s) you wish to adjust.

5. Be sure that you enter all relevant information including your dollar amount, dates, creditors reference number, and your reference number as well as the client name in the memo to ensure that Forth can match the payment when it is presented.

   IMPORTANT: The FORTH system identifies and alerts the DSRP when a weekend or banking holiday would cause the adjusted transaction date to extend beyond a 30-day payment interval. Upon receiving the alert, the DSRP must adjust the payment schedule to ensure the interval between settlement payments does not exceed 30 days, potentially voiding the settlement (see image below).
   

   NOTES
   When editing Process Date with multiple transactions selected, the system will update all selected transactions to the selected day of the month, with the first transaction beginning on the month selected.
   If unsure of the reference number, contact creditor and ask specifically what number they will be using on the check image or the electronic ACH reference field.

6. When you have checked your work, save the desired changes at the top of the page by clicking Save Changes in the Navigation Bar.

   IMPORTANT
   To modify an existing settlement that has been cleared or matched to today’s settlements, please contact settlements@setforth.com and someone from the support team will assist.

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