The Creditor section contains important data pertaining to the creditor. This includes Creditor types and different types of payments they receive from the client. In addition, the Creditor section allows the agency to setup default information pertaining to a new creditor that is added inn the database.
The General category allows the user to setup default criteria to be used when entering new creditors. In addition, the user can customize the Creditor’s screen.
User Defined Field (1, 2, 3) Creditors - Three user defined fields for creditors, located on the Defaults tab on the Creditor screen. A caption must be entered to make fields visible on the Defaults tab.
Default F/S (Fair Share) - Select one of the following F/S types from the drop down list: Do not contribute, Deduct, or Bill. Then, set a Fair Share percentage. This is applicable to new creditors added.
Default Bank Account ID - Sets the bank account as the default used whenever a new creditor is created.
Default Bill Pay Bank Account ID - Sets the bank account as the default used whenever a new creditor is created
Default Billing Period - Specifies the default billing period for Fair Share basis. Used when new creditors are added. Options include Monthly, Quarterly, Semi-annually, Annually and Immediate.
Mark Receipts for Undone Deposits - If selected, creditor receipts that are marked as deposited become unchecked if the deposit is undone.
Show Accounts by Default - If selected, client accounts associated with this particular creditor are shown on the Creditor screen by default. If disabled, the user has the option of clicking the Show button on the Creditor screen to view the accounts associated with the creditor.
Creditor Temporary by Default - If selected, the creditors entered are set as temporary by default so that payments cannot be made to that creditor until someone with the proper authority approves the creditor.
Creditor Active by Default - If selected, the creditors entered are set up as active by default.
Creditor Validate Masks by Default - If selected, when creditors entered will have Validate Masks checked by default.
Use New Creditor Defaults On Transfer Accounts - If selected, when an account is transferred HoldProposal, HoldProposalUntilFirstReceipt and DND will be updated with the new Creditor's Default values.
Enable Quick Search By Creditor User Defined Code - If selected, users can use the creditor quick search field to find creditors based on the info stored in the code field on the Creditor Screen. 26558
Similarity Code needed to trigger duplicate warning - Specifies the lowest matching score to trigger the possible duplicate warning.
Default Loan Term - Specifies the default Account Term to be used when adding Accounts.
Default Monthly Payment Formula - Specifies when creditor payment formula will be used when adding Creditors. To not use this feature use "Not Set".
Default APR - Specifies the default APR to fill in when adding Creditors
Show On Internet - Specifies the default value used when adding creditors.
Combine and Delete – This allows users to merge two Creditors together. Always make sure that both Creditors have been carefully reviewed as well as the clients assigned to them before combining them.
Combine and Delete
Enter Creditor ID for Creditor that will be deleted
Enter Creditor ID for Creditor that will be replacing the first Creditor for all clients.
Click Continue
Use Creditor Type Defaults - If enabled then fields from Creditor Types are used when adding new creditors or changing the creditor type.