At least one credit bureau must be checked as active (above) in order to access this field. Click the Arrow button and select the credit bureau you want to use as the default during the request for credit processes. The options that are available to you when you click the arrow include only active credit bureaus. Possible options for this field are:
Experian
Equifax
TransUnion
InterConnect
ExperianTo activate this credit bureau for use in your system, check the box at this field. Otherwise, leave the box blank.
EquifaxTo activate this credit bureau for use in your system, check the box at this field. Otherwise, leave the box blank.
Equifax CanadaTo activate this credit bureau for use in your system, check the box at this field. Otherwise, leave the box blank. If you check the box at this field, this credit bureau can be selected at the "is the Primary" field on this screen and is also available for selection at the Credit Bureau field in Request Credit Informationand the Preferred Credit Bureau field in Warehouse/Store Location Settings.
To activate this credit bureau interface for use in your system, check the box at this field. Otherwise, leave the box blank.
InterConnect is not actually a credit bureau itself. STORIS interfaces to the InterConnect software, which accesses Equifax credit reports and returns additional information regarding scoring and decisioning.
To activate this credit bureau interface for use in your system, check the box at this field. Otherwise, leave the box blank.
InterConnect is not actually a credit bureau itself. STORIS interfaces to the InterConnect software, which accesses Equifax credit reports and returns additional information regarding scoring and decisioning.
A STORIS web service allows InterConnect to initiate a call to the STORIS system in order to provide a final decision on a pending credit review item. Items remain pending and can be viewed in Review Pending Credit Requests.
Trans UnionTo activate this credit bureau for use in your system, check the box at this field. Otherwise, leave the box blank.
APPLICATION RULES
Encrypt Credit Application(LOCKED Field – STORIS access only!) If the box at this field is checked, credit application data is encrypted when the information is saved in STORIS. If the box is not checked, credit application data residing in STORIS is not encrypted.
Allow for Co-SignerTo allow users to enter co-signer credit applications via the Request Credit Information screen, check the box at this field. Otherwise, leave the check box blank. If you check this box, the Additional Applicant Co-signer field becomes active on the Personal tab of Credit Application Entry. The default for this setting is checked.
Allow for Co-ApplicantTo allow users to enter co-applicant credit applications via the Request Credit Information screen, check the box at this field. Otherwise, leave the check box blank. If you check this box, the Additional Applicant Co-applicant field becomes active on the Personal tab of Credit Application Entry. The default for this setting is checked.
Use this mandatory setting to specify the number of days an existing credit application remains valid. The default for this field is 90 days. Once the creation date for a credit application has been exceeded by the number of days at this field, the system no longer considers the application current. If you access the application, the system requires you enter a new one to proceed.
Information from expired applications can be used for new credit requests, depending on your settings. See the Default from Expired Application field below.
For Days Application is Valid for Web SubmissionsEnter the number of days that credit applications submitted via the web remain valid. An existing customer cannot submit a new credit request via the web if they submitted another credit application within the number of days specified here.
If a valid existing application is found linked to a closed credit request, the information from the expired application can be used for the new credit request. Use this field to identify the information, if any, you want to default from expired credit applications. Check the box at one or more of the following options if you want this information to default. The default for this field is un-checked.
Primary - default primary applicant information
Co-signer - default co-signer information
Co-applicant - default co-applicant information
You must check the box for Primary first before you can select the Co-signer and/or Co-applicant options.
When this setting is active, the information from the expired application, except for fields set to "Force Re-Entry", is defaulted onto the new credit request. The defaulted application is available for change for the new request. If the information is changed, the application is saved as a new application linked to the new request for credit.
CREDIT REQUESTS
Need to exist prior to entering an orderUse this setting to control whether the sales order financing field can be entered prior to the entry of an approved credit application. If you check the box at this field, a valid credit application must be on file prior to entering the financing payment type in order entry. If you do not check the box at this field, users can enter a finance payment type in order entry, even if no approved credit application exists for the customer.
Review Request if Less Than Credit LimitUse this setting to indicate whether or not a credit request needs to be submitted during entry of a revolving financed order when the customer's credit limit has not been exceeded. If you check the box at this field, a credit request is created whether or not the customer's balance plus the amount being financed falls below the customer’s credit limit. If you do not check this box, a credit request is only created if the customer's credit limit is exceeded.
Review again, if Initially DeclinedIf you check the box at this field, you inactivate the credit review status of "D" (declined) and you cannot change a credit request's status code directly from a pending status to "SD" (second review declined) without first changing it to one of the "second review" status codes. If you leave this box blank, the system considers all "declined" credit requests to be resolved and moves them to history.
After Days Decline Requests on HoldEnter the number of days you want to allow credit requests on hold to remain in the Review Credit Requests on Hold Queue before the End-of-Day process automatically declines them and moves them to history. You can enter a number between 0 and 999.
For Days Retain Historical RequestsEnter the number of days you want credit request details to remain in history before the End-of-Day (EOD) process purges them. You can enter a number between 0 and 9999. If you run EOD and the number days at this field has been exceeded, EOD purges the credit request and any associated credit request comment records. Note that EOD purges the linked credit report and credit application records only if no other linked credit requests to the credit report fall within the days allowed.
Older Than Minutes Alert the UserEnter the number of minutes before a Credit Request Review item should be flagged as old and the reviewer alerted that the time has been exceeded. Once an item is flagged, it appears in the grid of the Review Pending Credit Requests screen with red text, indicating that no decision has been made for the item and that the length of time specified in this field has been surpassed.
This field determines the format in which credit reports appear when viewing them via the View Credit Report button on the Credit Request Review Screen. You have the following options:
If you check the box at this field, the report appears in Adobe "pdf" format. You can use the Adobe Reader to save and/or print the report. Use this option if you have arranged with your credit bureau to receive a text-readable version of each credit report.
If you leave the box blank, you can view the standard version of the report via the Forms Designer. To view the report via the Forms Designer, set up the Forms Designer print destination for the Credit Report form in the following way:
Double-click on the Credit Report form. The Print Settings window appears.
Click on Select a Printer, then click on the Arrow button to the right to access the drop-down list.
Select STORIS Print Preview from the list.
When you first click on the View a Credit Report button, the Print Settings window appears and you must specify a print destination. Thus, you only need to perform the above steps if the print destination of the Credit Report has already been established and you want to change it.
For Days Report is Valid Enter the number of days past the initial retrieval date that you want credit reports to remain valid in the system. You can enter a number between 0 and 999. The system compares the credit report date to the current system date and, if the number of days specified here has not been exceeded since the credit report was retrieved, uses that report. If the number of days has been exceeded (or if no credit report exists on file), the system sends a request to the credit bureau for a new report during credit application processing.
Type your expanding text here. After Months with Zero Balance Require New ReportIndicate the number of months that a customer account can have a zero balance before the credit application expires and a new credit application is required. You can enter a number between 1-99 in this optional field. If you leave this field blank, credit applications for customers with a zero balance do not expire.
OTHER
Type your expanding text here.Decline Letter Previous Conditional ApprovalsTo automatically generate a rejection letter when a credit request is declined after having been conditionally approved, check the box. Otherwise, leave the box blank.
Display Approval Status in Sales EntryWhen the box is checked and you complete a credit request via sales order entry, the review status (conditional approval, declined, etc.) is reported back to the order entry process. When the box is not checked, and you complete a credit request via order entry, you do not receive notification of the item's review status in order entry.
Approval Letter Previous Conditional Approvals EntryTo automatically generate an acceptance letter when a credit request is approved after having been conditionally approved, check the box. Otherwise, leave the box blank.
Custom - If specialized credit bureau application programming is active on your system, click on this option to access the plug-in program. For more information, contact STORIS.
Settings
This routine has a set of tabs for each of the following participants in the credit application process:
Primary Applicant
Co-Applicant
Co-Signer
For each of the above participants, the following four tabs are available:
Personal
Employment
Reference
Miscellaneous
Thus, this routine contains three sets of four tabs (in addition to the General tab). Use the fields on these tabs to specify the response requirements you want to impose on the various credit application fields included on these tabs. You have the following options for each Entry Type field:
Optional - field is present on credit application but an answer is not required.
Mandatory - field is present on credit application and an answer is required.
Not Needed - field is not present on credit application.
Each field has an associated Force Re-Entry check box you can use to require users to manually enter data when updating existing credit applications. If you leave the Force Re-Entry field blank, the system supplies a default response, if available, for the associated field. For example, assume the following:
the Income field is set to Mandatory,
the associated Force Re-entry field is checked,
a valid application exists for a customer (that is, the number of days since the application was created has not exceeded the days specified at the Credit Application is Valid For field on the General tab), and
the linked credit review item is closed (that is, approved, declined, or deleted).
If the previous is true and you create a Request for Credit for the customer (for example, to increase the line of credit), the program does not offer a default response for the Income field. Instead, the system requires the operator to manually enter the new income amount.
is the Primary
InterConnect is not actually a credit bureau itself. STORIS interfaces to the InterConnect software, which accesses Equifax credit reports and returns additional information regarding scoring and decisioning.