Intercept External Allocation

Intercept External Allocation (INTEA) defines the Contact, Payment, and Bank information for external entities. The page is integral in both setting up external entities to participate in the Intercept process, as well as processing debt that is intercepted on their behalf.  

The following functionality is also included:

• Remittance contact information for external debt records. This contact information is inferred onto the Intercept Request table and printed on the check stub of all payments that are intercepted.

• How the Debt Type/Entity receives intercepted funds: an Intercept Transfer (IT) or via a check/electronic payment, indicated by selecting Issue Payment.

• The Vendor Code, Name, and encumbrance reference for intercepted payments that are created for those Debt Type/Entities that request a manual payment.

• COA used when funds are intercepted for the specified Debt Type/Entity.

• COA used on the IT Transactions when the Debts that belong to the External Entities were intercepted in an external Payment system or internally.

• There are two event type fields: Default Event Type and Internal Event Type, that are used on Intercept Transfer (IT) and Intercept Transfer Offset (ITO) transactions. Default Event Type is required and intended to be used to record a transfer to an external entity. The event type is typically one with a balance sheet that is later paid out with an Intercept Payment (GAIP). The Internal Event Type is optional and used when the entity is internal (on Advantage Financial) but their debt is maintained in an external system (not on Receivables). Here the accounting is typically to externally collect earned revenue.

• On the Payment Information section, the fields are used and validated only when the Issue Payment option is selected. These fields are optional in that case only. They are used to define an Accounting-Based Encumbrance transaction, which is referenced and liquidated at the time of payment to the external entity.