Managing TRX Payments / Financials

Transcript Request payments in TheRecordXchange (TRX) can be easily managed by the Transcript Provider. TRX offers a convenient way to accept credit card payments directly on the site. This help article covers several topics related to Payments on TRX

These credit card processing fees are paid by TRX and the Transcript provider does not incur any additional costs. This seamless payment system eases the process for all parties involved.
​
If necessary, TheRecordXchange can also accept checks for payments and deposits.

TheRecordXchange can accept both Credit Card Payments and Check Payments. There are advantages to each depending on the Client / Situation. Credit Cards are faster and easier to submit for payment but they present some potential issues for the party accepting the payments. A Credit Card Company can, in some cases, cancel the payment made based on the Customer disputing the Credit Card charge. This can create delays in the Accounting process and should be avoided whenever possible.

If you have a Customer and you are concerned about them possibly disputing the credit card payment, you should consider asking that Customer to issue a certified check rather than a credit card payment. This will ensure the payment remains in place and the transcript providers will get paid in a timely fashion.

The Transcript Provider can secure a deposit from the Customer before Transcription. Once a Request has been claimed, the Claimant can then request a deposit.

To Request a deposit, select the Payments tab :

Next, Click the "Request Deposit" button

Enter the Amount ($) of the Deposit being Requested and a description if needed. Then click "Continue" to send the deposit Request.
​

**It is important to use the REQUEST DEPOSIT button in this process. Manually changing the status of the Request to Balance Due will NOT activate the payment button for the Customer

When transcription is completed, the Request should be edited / updated with the final page counts. This will update the balance on the Request.
​
When the Create Invoice button is clicked, this will complete the Request and move into the appropriate status. If there is a pending balance still due the Request will be moved into a status of BALANCE DUE. The customer will be notified via email and they can login / post a credit card payment via the make payment button.

If there is a refund due, the Request will be moved into a status of REFUND DUE. This status will trigger TRX Accounting to issue the appropriate refund amount back to the original form of payment.

In March 2024, TheRecordXchange released a new set of features related to Off-Platform transactions on the TRX Site. Off-Platform refers to any Transcript Request in which the payment is being handled outside of TheRecordXchange. In the past, TRX users were not able to change the status of their Requests from On to Off platform.
​
In Jurisdictions that ALLOW Off-Platform transactions, Claimants are now able to mark their Requests as Off-Platform via the "Change Request to Off-Platform" on the Payments tab.

By default, a Request claimed by a Provider (Claimant) will be ON-Platform. However, the Claimant may request, with the Jurisdiction's approval, when they claim a Request, the Request defaults to OFF-Platform.

Claimants can switch between On and Off Platform as long as no payment has been entered. Once a payment is entered, the Platform status is locked.

Claimant's who opt for Off-Platform transactions must add a payment address in their TRX Profile through the Manage Addresses Section. Users can select a default address for remittance, with the option to change it for specific Requests.

For more information details on Default Addresses-- LINK