Financing Eligibility Restrictions

Use these settings to determine if the finance plan can be used as a promotional plan and to determine if an order qualifies for a particular third party finance plan. These restrictions are reviewed for both offline and online providers.

During order entry, if the finance plan entered is not eligible for use, a message is displayed. The message indicates that the payment type is not valid for the order, states that the order is to be placed on credit hold, and asks if you want to continue.

User receivables security settings also determine whether a user can apply a finance plan that does not meet the eligibility restrictions.

If any of the following five fields are used, this promotional finance plan cannot be used to finance the deposit on an order and the Maximum Percentage When Used as a Deposit field defaults to 0.00. If all 5 fields are blank, you can use this finance plan to finance a deposit, but in order to do so, you must indicate the Maximum Percentage When Used as a Deposit (below).

Use this setting to allow one or more predefined inventory formations to be linked to this finance plan. Enter the code or click the Search button to select from a list of formations. You can click the Action button for one of the following options:

Create new inventory formation
Maintain existing inventory formation
Select Multiple Inventory Formation Selection

This setting works in conjunction with Inventory Formation. If you check the box at this field and an inventory formation has been defined, all line items on the order must be included in that formation in order to use this finance plan. If this box is blank, at least one of the line items must be included in the formation in order to use this finance plan.

This setting can be used as an override to the "Cannot be combined with Third Party Financing" setting in Sales Discount Settings. If you check this box and the sales discount is set to not combine third party financing, you can still finance the order using this plan when the discount has been applied to lines on the order. If you leave this box blank, the sales discount restrictions apply.

Use this setting to define the minimum purchase amount that is required to use this finance plan. This amount is based on the subtotal of the order. Your entry must be numeric, with 2 decimal places, and allow for a maximum purchase amount of $99,999,999.99.

Use this setting to define the minimum deposit percent that is required to use this finance plan. The percentage entered here is multiplied by the Net Total (merchandise subtotal plus delivery, installation, taxes, and fees) displayed on the order Payment tab. Your entry must be numeric, with 2 decimal places, and allow for a maximum percent of 99.99.

If any of the fields above are used, this promotional finance plan cannot be used to finance the deposit on an order and this field defaults to 0.00. If all 5 fields above are blank, you can use this finance plan to finance a deposit, but in order to do so, you must indicate the Maximum Percentage When Used as a Deposit here. Enter the maximum deposit percentage that can be financed with this plan. For example, if you enter 50 here, and the merchandise subtotal is 1000.00, you can finance a maximum deposit of 500.00 using this plan.

When you enter a response at this field, you indicate that financing payments can be used as deposits. Note that the Allow Deposits on Stock Merchandise field in the Financing Control Settings must be active for this deposit percentage to be applicable.

Finance Plans that are set as Finance Type = Installment or RTO cannot be used for deposits. The Maximum Percentage When Used as a Deposit field defaults to 0.00 and cannot be changed.