Using Vendor Finance Programs

Vendor Finance Programs may be used as Settlement tender for transactions but can not be used for payments on account. See Setup > Access Vendor Programs for details on creating Vendor Programs.

Settle using a Vendor Finance Program

On the Settlement screen, enter the amount of the transaction in the Credit Card field.

Enter any CC Approval # since this is a required field.

Click the CC Type drop down list and choose the Vender Finance Program. See Setup > Access Vendor Finance Programs about creating new programs.

 

Use the Credit Card Detail report, found in Reports > Balancing Drawers which will list the Vendor Finance Program in the Brand Type field. This can be used to balance against the GL account set up for the program.

 

Use a Credit Memo to reflect a Customer Payment made with a Vendor Finance Program.

Payments may not be made on account with Vendor Finance Programs by using Credit Memo instead using the steps below.

1. Create a CM Reason Code for the Vendor Finance Program to be used in Access Reason Codes. When setting up the Reason Code, use the same General Ledger account as used on the VFP.

2. Navigate to Customer Transactions and create a Credit Memo for the customer account in the amount of the payment and select the CM Reason Code for the VFP.

Following this process will credit the AR account and debit the GL account for the VFP.