How to Manage InHouse Accounts - Revolving Financing

In this article, we will discuss how to manage InHouse Financing once it has been set up

If the customer has an InHouse Account you will now be able to sell items to the customer and use InHouse Financing to complete the purchase. 

1. To manage the Inhouse Finance Account navigate to the Customer Account via Main Menu > Search Customer > Search for the customer using one of the options listed > Once you have selected the customer navigate to View All Sales at the top of the screen. 
2. Under View All Sales you will see the option for Customer Account Actions. From the drop-down select Acces InHouse Financing. 
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4. Once selected you will be taken to the following screen. Under Account Summary, you will need to select the type of financing you would like to manage. Term or Revolving. 
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6. Once you have selected  Revolving you will be able to View/Modify the amount of credit. View History, View the Details of their past/present financing, Write Off the financing, Deactivate the account, Update Bill Date, Stop Bill Statement, Update APR, Update Payments, and view the Payment Schedule. As seen in the screenshot below: 
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Modify Line of Credit:

• By clicking on this you will be presented with a new window where you can see the Current Line of Credit and either increase or decrease this by entering the new amount into the New line of Credit field and again in the Re-enter New Line of Credit
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View History: 

• This is where you will see when and what changes have been made to the line of credit 
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View Detail:

• You will be able to see all of the purchases made that make up the total New Balance (as of today's date)
  
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    • Here you will have the Billed Date by clicking on the Billed Date. This will pull up the statement and that is where the balance is coming from, that shows the interest calculations as well as if there is anything past due or due. This will include any new charges. 
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    • Payment Schedule by clicking on this you will be able to see the payment schedule. 

Write Off:

• If you have been trying to collect and contact but have been unsuccessful this is where you would go to Write Off the contact to bad debt. 

Deactivate Account:

• This will allow you to Deactivate the InHouse Financing account. 

Update Bill Date: 

• You can change the day of the bill, by default it will be the 1st of the month. 
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Stop Bill Statements: 

• If somebody is going through bankruptcy for example you can stop the statements from generating
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Update APR: 

• You can change the APR on the Revolving Financing from here. It is highly suggested that you reprint a contact for the customer when changing this
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Update Payments: 

• From here you can update the minimum payment percentage or dollar amount
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Payment Schedule: 

• This is not typical with Revolving Financing however due to client demand we have added the feature to show the customer how many payments it would take if they pay the minimum to pay off the full amount.