The following are detailed descriptions of the options available at the Action field in the Reopen a Financed Transaction routine.
Select Re-Instate to reopen a closed transaction.
This option moves the items from the closed batch to an open batch of the same Payment Type and original batch date.
If an open batch does not exist, the program will create a new open batch.
The transmitted flag will be set on the recreated batch to prevent it from being re-transmitted.
After transactions are reinstated, use the Maintain Financed Balances (Manual Posting Entry) program to make adjustments, if needed.
This option is used ONLY when the FR Transmission (FRT) feature is active.
Select Re-Submit to resubmit (using the same payment type) financing that was previously rejected by the finance company.
A re-submit action will reinstate the transaction and then move it to an open un-transmitted batch so that the transaction can be transmitted.
The original Finance Receivable and usage fees will be reversed and re-posted (when transmitted).
A new transaction is created in the current un-transmitted batch for the same Payment Type.
Select Re-Write to rewrite this transaction using a different 3rd Party Payment Type.
This action may not be performed for manual post or on-account transactions.
When a rewrite is performed, the transaction is closed in the original batch, and a new transaction is created in the current un-transmitted batch for the new 3rd Party Payment Type.
Select Reject to cancel the Finance Receivable transaction.
Use Reject when a transaction will not be resubmitted. (Once rejected, transactions cannot be resubmitted.)
This action may not be performed for manual post or on-account transactions.
For orders not completed, the authorization will be removed and the order will be placed on credit hold. The deposit must then be either deleted or approved - see Approve Financing (3rd Party Financing Approvals).
For completed orders, the financing will be removed from the completed order.
An open item accounts receivable will be created for the customer for the (previously) financed amount.
The usage fee on the transaction (if any) will be reversed.