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Financing Process

Wireless Standard Financing Process allows dealers to automate, streamline and speed up transaction process as well as insure correct Unit Price and Tax that are collected in Wireless Standard POS as a result of the activation using Financing Program.

There are two workflows available for this program:

· Update based on Activation parameter;
· Update based on Suggested item SKU.


Update based on Activation Parameter


Important note: financing settings can be set individually, on a per location basis
 
To access settings please follow these steps:

1. Go to File;
2. Select Configuration;
3. Select Modules;
4. Select Sales module;
5. Click on Financing Tab.

Here is what you will see:



Check second radio button that says “Activation Parameter”. Three drop-downs will be presented:

· First – to select Carrier for financing program
· Second – to select applying criteria. Available: Service Plan (default), Plan Option, Contract type.
· Third – to select the parameter value based on second drop-down.

Once done setting up Financing criteria, you can move to set up Financed equipment parameters.




· POS Unit Price – if device is financed (meets Financing criteria) system populates the device with defined Unit Price (whether it is going to be Retail Price of the device or this device will be populated with $0.00).
· Custom payment type – defines the payment type in which installment amount will be put when processing the transaction.
· Calculate as profit – checkbox defines whether the device will be calculated as profit. Please note: if device is being financed (meets Financing criteria) – it will overwrite Product Editor settings for profit calculation
· Do not update financed device description in Shopping Cart - with this option you may disallow financed device description update in Shopping Cart

Tax collected by – defines who the tax shall be collected from:




· Carrier – tax amount is zero in POS
· Dealer – tax amount based on location tax settings
· Dealer (based on MSRP) – tax amount based on manufacturer suggested retail price (Retail price in Product Editor)


Payment products selection allows to specify the Service charge product
This box defines which Wireless Standard product should be added in one bundle with financed device (non-inventory products from Product Manager):



Receipt disclaimer for financed devices. Available options:

· Both (default);
· Small receipt;
· Full receipt.

Disclaimer can be disabled (“None” in drop-down).



Once you are done with configurations press Apply and Ok.


Update based on Suggested item SKU



Check first radio button that says Suggested item SKU




You’ll get the Edit box available where you can set the non-inventory Wireless Standard product which is a flag for financing in case it is added as suggested item to financed product.
This non-inventory product must be set us Suggested item for the device in Product Editor.



Once you are done with Financing criteria set up, you can move to set up Financed equipment parameters.


· POS Unit Price – if device is financed (meets Financing criteria) system populates the device with defined Unit Price (whether it is going to be Retail Price of the device or this device will be populated with $0.00).
· Custom payment type – defines the payment type in which installment amount will be put when tender out the transaction.
· Calculate as profit – checkbox defines whether the device will be calculated as profit. Please note: if device is being financed (meets Financing criteria) – it shall overwrite Product Editor settings for profit calculation
· Do not update financed device description in Shopping Cart - with this option you may disallow financed device description update in Shopping Cart



Tax collected by – defines who the tax shall be collected from:



· Carrier – tax amount is zero in POS
· Dealer – tax amount based on location tax settings
· Dealer (based on MSRP) – tax amount based on manufacturer suggested retail price (Retail price in Product Editor)

Payment products selection allows to specify the Service charge product
This box defines which Wireless Standard product should be added in one bundle with financed device (non-inventory products from Product Manager):




Receipt disclaimer for financed devices. Available options:

· Both (default);
· Small receipt;
· Full receipt.

Disclaimer can be disabled (“None” in drop-down).



Once you are done with configurations press Apply and Ok.

Shopping Cart


In case device meets Financing criteria – it will be added to Shopping Cart with Price, Tax based on Settings in configurations screen + Description will be added to the financed device.



When finalizing the transaction, Financed amount will be automatically populated to the Custom payment type that was defined by dealer in the Configuration screen.



 

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