Defining rule-based fee structure in CurrencyXchanger (CXR) Part 2/2: Currency Exchange Software

Defining rule-based fee structure in CurrencyXchanger (CXR) Part 2/2: Currency Exchange Software


This video is part 2 in how to set up rule-based fee structures for check cashing. In video one, we already set up one rule as you can see below. Now we’re going to add or modify this rule plus add another rule. All you need to do is simply duplicate this rule up on your toolbar, duplicate rule, then we’ll modify the first rule. So what we’re gong to do is we’re going to change the ranges, so we’re going to say that if we receive a US dollar check between 1 and let’s say $3,000 US, we’re going to charge the fee of 2.5% and the flat rate of $3, but then if the customer comes in with any check that’s $3,000 or above, so we’ll leave that as minus 1 because that would go for any amount above, we’re going to change the fee percentage to just 2% and the flat fee to just $2.50.
Now we’re going to select Stop Evaluation here, and I will explain more at the end of the video for this. Now let’s go down and apply this rule. Let’s see how these rules or fee structures are applied in an invoice. Select invoice and new, and customer John has come in with some US dollar checks, so we’ve received, R for received, CH for check and let’s say $1,000 US. Hit tab and below, the 2.5% commission
and the $3 fee has come through. Let’s go back up to the amount. Let’s change it to $3,600 US. When we hit tab, you’ll notice that the other fee structure has come through now, the 2% and the $2.50.
This is showing that if the check was under $3,000, the first fee applies, and now the check is over $3,000, the second fee applies. Let’s go back to the fee structures as I want to highlight some key points.
So let’s create a new rule and we’ll call it general and we’re going to charge $5 for every transaction that comes through the door, so this is just an example. Now if we uncheck the Stop Evaluation, the last rule is the generic rule, so every single transaction is going to match this rule, which means if someone comes in with a check, a US dollar check for over $3,000, the $2.50 fee and the 2% commission will not actually be applied because the last fee structure that matters will be the general one. What we need to do is select Stop Evaluation, then when the search comes through, it will stop at this rule and not go down to the next one.

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