Finance Provider Settings

Accounting > Financing > Financing Settings > Finance Provider Settings
Accounting > Settings > Financing Settings > Finance Provider Settings
System Administration > Get Started - Enter Your Information > Get Started Step 7 - Financing > Finance Provider Settings
System Administration > System Settings > Accounting System Settings > Financing System Settings > Finance Provider Settings

Use this routine to maintain information on your third-party finance providers, for example Citi Financial, Encompass or GE Capital. STORIS comes pre-loaded with finance providers to which STORIS can electronically transmit financing transactions. A 1 or 2 digit numeric provider code is assigned to each of these. You cannot edit, delete, or create new transmitting provider codes. However, you can add new, non-transmitting providers. That is, you cannot establish an electronic connection for instant transmission with any provider you add - only with the providers added by STORIS.

General

CONTACT INFO

TRANSACTIONAL ACTIVITY

Bank Reconciliation

Click the Arrow button to define a posting method to use for general ledger and bank reconciliation updates when Auto-Pay is active for this provider.

Merchant - This option can only be used for online providers. Select this option to create and post general ledger/bank reconciliation records by merchant when the Auto-Pay process is run during End of Day. If you select this option, the auto-pay process checks the Auto-Pay Post Bank field in Merchant settings and if that field is blank, it uses the Auto-Pay Post Bank field in Provider settings.
Payment Type - This is the default posting method. If you select this type, general ledger and bank reconciliation updates are performed by payment type when the Auto-Pay process is run during End of Day.

This is a STORIS-locked field that applies to all providers, both online and offline. This field is used to indicate the unique payment type you want the system to use when posting in-store finance payments received from customers. When the Arrow button is clicked a list of active payment types associated with the selected finance provider is displayed. If no payment types have been defined for the provider, the only option available is None Selected.

STORIS recommends that you create a unique Financing Payment Plan for in-store finance payments from customers and use that payment type only for these types of finance payments.

Transaction Codes

Use the fields in this section to enter specific retail transaction codes used in data transmission to the finance provider as well as for analysis. These codes are supplied by the finance provider. If no codes were supplied, you can enter any unique codes. However, if not using STORIS' data transmission capabilities, leave these fields blank. Contact STORIS Support for further assistance.

Online Transmit

Specify the method of transmission this finance provider uses to connect to your system. You have the following options:

TCP/IP (Transmission Control Protocol/Internet Protocol) - Internet protocol suite.
SSL (Secure Socket Layer) - use the SSL fields on the Transmit tab to enter the address and the port.
Web Service (Wells Fargo only) If you select this option, you inactivate the IP address / port and SSL URL / port entries on the Transmit tab and you activate Web Service User Id, Password, and URL fields.

(STORIS Locked Field!) Use this field to indicate the type of transmission/settlement method this provider uses. The options for this field are: Manual, Real Time (TCP/SSL), Batch (FTP), and Order Completion. Click here for detail on these options. The setting for this field is determined by your finance provider.

This field is used for installment and RTO (Rent-To-Own) financing plans. Partially completed orders financed with installment/RTO contracts allow increases to the open amount of the order. You can use this optional field to establish the maximum adjustment amount that can be entered. If you leave this field blank, the threshold is set to zero.

Type & DESCRIPTION

To allow users to add a finance plan to a sales order prior to the assignment of an account number, check the box at this field. Otherwise, leave the box blank. This feature is available for sales orders, service orders, and debit exchanges.

The system references this field when you specify an on-line provider at the Financing field on the Payments tab in sales order entry. If the box at this field contains a check, you can omit the account number and still save the order. In this way, you can print the order and obtain a customer signature even if financing is not yet approved. Note that the system places such orders on F3 credit hold.

Once you obtain the authorization, go back into the Payment Summary Window and add the account number. If you obtained the account number

electronically and a check appears at the Default Account field above, the system applies the number automatically.
verbally and a check appears at the Account Numbers on the Fly field above, you can enter the number manually.

Once you add the account number to the sales order and save the order, the system performs an authorization request. If approved, the system removes the F3 credit hold from the order and you can complete the sale. If declined, the system removes the finance payment plan and amount from the order and the customer must pay for the order with another type of payment.

Although you can edit this field for off-line providers, the functionality applies only to on-line providers.

This functionality does not apply to deposits entered via the Payment prompt in sales order entry.

For financed orders with no assigned account number:

- since the system does not transmit the authorization request until you obtain an account number, any disclosure information from the finance provider is not available.

- you cannot approve on-line financing via the Update Financing Credit Approvals routine.

To require users to specify an account number when requesting finance authorization, check the box at this field. Otherwise, leave the field blank.

If this finance provider is to be an active option in the Finance Provider field of the View Available Financed Credit routine, check the box. Otherwise, leave the field blank. If not using STORIS' financing transmission capabilities, leave this field blank.

Use the next three LANGUAGE fields to define the options you are offered at the Language Preference prompt on the Main tab of credit application entry for this provider. You can check one or more boxes to indicate which options are available. If you leave all boxes blank, the default option is English.

Only some providers prompt for Language Preference. Therefore, these fields are not used by all providers.

The language you select during credit application entry is used for information only. No translation takes place. When transmitting the credit application to the finance provider, the preferred language is passed to the provider in order that they know which language should be used when communicating with the finance customer.

To indicate that English is offered as a preferred language option in credit application entry, check the box. This is the default setting.

To indicate that French is offered as a preferred language option in credit application entry, check the box.

To indicate that Spanish is offered as a preferred language option in credit application entry, check the box.

(LOCKED - STORIS access ONLY!) To enable error logging at the U2 level, check the box at this field. Otherwise, leave the box blank. STORIS uses this field when tracing the progress of socket connections. If this setting is checked, the system also logs finance provider transmit records.

Once unchecked, a message appears with the option to delete the logs for the provider: if 'Yes', then log records are deleted once the Save button is clicked; if 'No', then logging remains active until this setting is checked again. If this setting is not checked, the logs are deleted automatically as part of the Generate Daily Reports process.

If you have the Finance Receivable Application Queue licensed and active, you use this setting to indicate whether or not to include this provider in the Finance Application Queue. The default setting is unchecked, indicating that the provider is not included in the FR Application Queue. You can check this box for specific providers to include them in the Queue.

If you have the Finance Receivable Application Queue licensed and active, you can use this setting. If you check the box at this field, a pending response returned on a credit application is treated as closed, allowing the application to be submitted to the next provider in line in the Queue. If you leave the field blank (default), a pending response returned from the provider is not treated as closed and is not submitted to other providers in the Queue.

To activate this finance provider for electronic transmission of finance transactions, check the box. Otherwise, leave the field blank.

Note that to transmit transactions, On-Line Financing Approvals must be active in the General System Control Settings and the selected finance provider must be licensed by STORIS to transmit electronically.

If not using STORIS' data transmission capabilities, leave this field blank. Contact STORIS Support for further assistance.

Check this setting to allow a partial authorized amount to be reversed on an open order. This setting is unchecked by default. For use with Alliance Data Services, this setting must be checked.

Depending on your provider's requirements, this field can be used to indicate that the provider is to be notified if changes have been made to the customer's finance plan or if financing has been removed from the order. If this check box is left blank, this notification does not occur.

Check this setting to indicate that a provider be notified when no settlement details exist for a particular day. This setting is unchecked by default. For use with Alliance Data Services, this setting must be checked.

Depending on your provider's requirements, this field can be used to indicate that separate transmissions are to be performed for exchanges. When the box is checked and an exchange is being processed, the return portion of the exchange and the sale portion of the exchange are transmitted separately. If you leave this check box blank, the net value of the exchange is transmitted as one record.

To indicate that this provider can accept authorization reversal messages electronically, check the box. Otherwise, leave the box blank.

To indicate that this provider allows entry of a manual authorization number, check this box. Otherwise, leave the box blank.

This setting is reviewed when you resubmit an application via finance credit application entry, view finance credit responses, and via the automatic credit application phantom. To indicate that pending credit applications can be re-submitted to this provider, check the box. Otherwise, leave the box blank.

Finance Provider Settings by Finance Type

Communications

Use the fields on this tab to establish FTP connections for finance providers. Note that some finance providers do not support FTP, in which case this tab is inactive. If not using STORIS' data transmission capabilities, leave these fields blank. Contact STORIS Support for further assistance.

TCP/IP

The following fields are active only if you select either TCP/IP or SSL at the Transmission Method field on the Online Transmit tab.

SECURED SOCKET LAYER

RECORD VERSION

Enter the most recent record version for each field. These fields are not mandatory and are currently only used by Alliance Data Services. These fields are locked for STORIS use only. These fields allow alphanumeric characters with a maximum length of 10 characters.

SFTP SETTLEMENT

Use this field to enter the host RSA address provided by your finance company.

WEB SERVICE

These fields are active only if you select Web Service at the Transmission Method field on the Online Transmit tab. The User ID, Password, and URL information are supplied by the finance provider. When using a web service, if the User ID and Password fields are empty, the system obtains the information from the Finance Merchant Settings.