What are the payment action buttons and how do they work?

 

Each payment in the Payments tab has its own action buttons depending on the status.

 

 

Declined payments will not have an Action icon (3 dots). 

 

 

See article : Declined payments for more information. 

 

 

 

The status of Pending displays when there is a bank account payment and a reply has not been received from the bank/financial institution as to if the payment is cleared.

 

The Pending state will change to Paid or Declined once a response has been provided which can take up to 7 working days. (This is a response time from the bank/financial institute and not a Nude limitation).

 

 

These are payments that are due to be taken at a future date. 

 

 

The following are the list of options that may appear under the Actions icon.

 

• Hold
• Write off
• Pay 
• Reduce
• Unpaid
• Outstanding Balance/Write off

 

 However the status of the payment will control what those options are, for example if the payment is on HOLD, only Unpaid and Pay are available, shown here:

 

 

 

 

Hold

The Hold button should be used if a payment needs to be put on hold for any reason. This is great to use if a customer is waiting to receive a new debit/credit card. Once the hold button has been clicked, the payment will be held and a 'A payment has been held' activity has been created. The activity will be open and and assigned to the broker that put the payment on hold. This activity will remain open until closed AND the payment will be on hold until taken off by the user. 

 

If the payment that you want to write off is on HOLD, here is how to deal with that.

 

First use the Actions icon, next to the selected payment, to change to Unpaid. Shown here:

 

 

Select Unpaid.

This will Change the status to Unpaid and you will be able to select the Action icon again and the full menu is available to choose Write off from, like here:

 

 

IMPORTANT

You must deal with the Write off on the same day as you change the status back to Unpaid.  If you left the payment without writing it off, the payment processor will attempt to run again that evening and try to collect the payment from the bank account or credit card again.  Basically, as soon as you change the status to Unpaid, select Write off or Pay and deal with the payment at the same time.

 

Write Off
This button will waive/write off the customers payment/NSF fee. After clicking the waive button a pop up will appear asking for a write off reason.

 

The reasons available are:

• Goodwill
• Cannot contact the client (cannot collect)

 

The option will only appear against payments showing as NOT paid.  Where the Option button is (3 dots) you can choose to write off the payment.

 

 

As mentioned there are 2 write off reasons, Goodwill and Cannot contact the client (Cannot collect), shown here:

 

 

Choosing the correct write off reason is important as they reflect very different results for what will happen going forward and from an accounting aspect.

 

Goodwill

 

This is an amount that you are going to absorb as a company, you are going to take that from your revenue, and pay for the customer.  

This will still show on the Accounts Receivable (bring that down), your Accounts Payable will stay the same (you will pay it instead of the customer), therefore come from your revenue. No further emails will be sent to the customer with regards to them owing this amount. 

 

Cannot contact the client (cannot collect)

 

This is bad debt.  This comes as an expense to your organization as the customer has not paid it and it is money owed to you.  This will be treated as an outstanding balance and therefore an email will be sent to the customer to request payment and an activity will be created in bond to show this has been sent. 

The bad debt will be displayed in the customer profile screen in bond, as a reminder that there is money owed, like here:

 

 

 

 

Pay
This Action button will allow a payment to be manually marked as paid. Click the Pay button and enter a description for the manual payment method and ID. If you do not have an ID you can simply add a small description. Click submit. This information has now been added to a manual payment activity which auto closed.

 

 

Reduce

This Action button will only appear on NSF fees. Clicking this button will reduce the fee by $20 each time. You will find this feature by clicking "actions" (3 dots)

A warning will appear, asking if you are sure.

When you confirm, you will then see the reduced NSF amount as highlighted.

Unpaid
This button will only appear on payments that have a 'Hold' or 'Outstanding Balance' Status. This can be used to un hold a payment. Once this button has been clicked the held payment will now be marked as Unpaid. The original withdrawal date will remain the same, if the payment was due to be taken in the past, you will see that changing it to Unpaid will mean the date for that payment is today.  This means that the payment processor will run that payment, from the saved payment method that night.  You should be checking the date with your customer and move if necessary AND checking the payment method is valid/up to date. 

 

Outstanding Balance

This button should be used to mark a payment on a cancelled policy as outstanding and to trigger the monthly outstanding balance emails to the client. If a payment is unsuccessful on a cancelled policy the system will mark the payment as an outstanding balance. 

 

 

 

Payments marked as Paid 

 

It is possible that the payment processor marked that the payment was Paid, but then it was disputed by the customer or the bank.  Please see the Disputed Payments article for the process on dealing with these.

 

Example:

 

 

 

 

This enhancement relates to the way that the platform handles failed payments when the response received back from the payment processor is ERROR.  

 

 

 

 

 

 

With this enhancement, the platform will:

 

• Create an open activity for the broker, in the Customer Care section, including a reason code for the Error, shown above. 

 

   AND 

 

• Automate an email to the customer advising they must contact their broker to make a payment.   Example provided here:

 

 

 

Payment Error codes

 

In addition, here is a list of SOME of the Error codes that you might see in the broker activity, along with some explanatory notes, that will help you explain to the customer the reason for the failed payment: