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 decissioning.
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
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 decissioning.