Update Financing Credit Approvals

Access

Use this program to approve and/or modify third-party financing associated with sales orders. The program obtains electronic approvals when appropriate.

You can finance deposits that have a different payment type and finance provider than the balance. Once approved, financed deposits cannot be changed in any way.  

This process can be used for the following:

• Change or delete unapproved financed deposits. For providers who process off-line, you can use this screen to change the Account Number, Authorization Number and Authorized Amount. (Changes to the deposit Finance Pay Type are not permitted.)

• Manually approve unapproved financed deposits.   

• Obtain electronic approvals for financed deposits if electronic approvals are active.

• Change or delete financed balances, whether or not approved.

• Manually approve finance balances if electronic approvals are not active.

• Obtain electronic approvals for finance balances if electronic approvals are active.

 For Installment and RTO providers, if an order has been partially completed, changes are not allowed using this screen. They must be handled via the order entry process. The remaining open order needs to be deleted so a new contract can be created.

Customer CodeEnter the customer account number for whom financing is to be approved or modified. To use the Search for a Customer (Customer Code Lookup) screen, click the Search button at this field . Optionally, this field may be left blank and only the Sales Order Number entered.

The customers you can access at this and other Customer fields may be restricted by Regional Processing.

NameOnce the Customer Code has been filled in, the customer's name will display from the Customer Master record .

Sales Order NumberEnter the document number of the sales order for which financing is to be approved or modified. Click the Search button at this field to access the Credit Alert or Open Order by Customer Inquiry screens. The Credit Alert screen provides a list of orders on credit hold, along with the hold codes and transaction dates. An order may be selected from this list.   

Deposits

Finance Pay Type

NameThe description for the 3rd party payment type (typically the name of the finance provider) will display from the payment type record.  

Account Number

Authorization NumberIf an authorization number was indicated during entry of the order, it displays here. If the financing is unapproved (field is blank), enter the authorization number obtained from the finance provider to approve this financed deposit.

Authorized AmountThis is the amount of the financed deposit.

Balance

Finance Pay TypeIf there is a financed amount on this order, the payment type indicated on the order will display in this field. A new payment type may be entered. If the payment type is changed on this screen, it also will update to the sales order. To delete the financing, delete the value in this field and leave it blank.

NameThe description for the 3rd party payment type (typically the name of the finance provider) will display from the payment type record.

Account Number

Authorization NumberIf an authorization number was indicated during entry of the order, it will default in this field. To change the authorization number or to approve the financing for an unapproved order, enter the authorization number obtained from the finance provider to approve this financed amount.   

Financed AmountThe amount being financed will display here. This amount may be modified for unapproved financing.

Maximum AuthorizedThis is the maximum amount that may be financed on this order. The Financed Balance may not exceed this amount.

Merchandise SubThis field will display the total dollar amount for the merchandise ordered, before tax and discount amounts are applied.    

Sales TaxThe amount of sales tax charged for this order will display.

Dlvy/Install ChargeIf delivery or installation charges were applied to this order, the amount of these charges will display here.

Order Sub TotalThis field displays the subtotal of the order, including discounts applied and additional charges (sales tax, delivery, installation charges). This amount does not include deposits/financed amounts.

Other DepositsThis is the total of deposits applied to the order that were posted to payment types OTHER than 3rd party payment types.

Financed DepositThis is the amount of deposit money applied to the order that was financed (using 3rd party payment types).

Financed BalanceThe total amount of the order that is being financed via 3rd party financing will display here.

COD AmountThe total amount due on this order will display here. This is the Order Sub Total amount, less deposits and/or financing amounts.  

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