How to Process Transactions: New Resubmit vs. New Clear

When handling transactions that involve fees, it is crucial to understand the correct processing methods to ensure accuracy and compliance with your organization's guidelines. This article will clarify when to use "New Resubmit" versus "New Clear" for fee-related transactions.

Understanding Transaction Types

In transaction processing, different types are designated for specific scenarios. The two common types discussed here are:

• New Resubmit: Used when there has been a previous posting of fees.
• New Clear: Typically used in situations where no prior fees have been posted.

When to Use "New Resubmit"

If you find that fees were posted prior to the current transaction, you should opt for the "New Resubmit" option. This method allows you to reprocess or update existing information while maintaining a clear record of past transactions.

• Circumstances for using New Resubmit:
• You need to make adjustments or corrections related to those previously posted fees.

The Role of Documentation and Team Collaboration

If you're uncertain about which option applies in your situation, consulting relevant documentation is highly recommended. Many organizations provide detailed guidelines outlining how each type should be processed based on various circumstances.

Additionally, don't hesitate to reach out to team members who may have experience with similar transactions. Their insights can help clarify any confusion and ensure that you're following best practices within your organization’s framework.

Tips for Effective Processing

• Review Past Transactions: Always check historical data before deciding on the transaction type.
• Avoid Assumptions: If unsure, seek clarification rather than making assumptions about the appropriate process.
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