Financing is a feature for Successware Mobile that allows your customers to submit for financing plans while you are on a job at their location. This allows you to collect full or partial payments for the job.
The financing feature is not available on sales estimates, project phases or within the tutorial.
Which Financing Company works with Successware Mobile
To use the Financing feature, you will need a merchant account with a financing company. Currently Successware Mobile has a partnership with GreenSky.
- GreenSky’s Contact Information:
Setting up Financing
Setting the Finance Add-on from the Admin Site
Before your technicians will be able to use financing out in the field, you will need to enable the feature on the Successware Mobile Admin site and perform some setup in Successware. To setup and manage the Financing Successware Mobile add-on, you will need to open the Successware Mobile Admin site.
1. Open the Main Menu from the toolbar in Successware.
2. Click on the Successware Mobile link.
3. Enter your Successware username and password.
• You will need your Successware username to have permission to do this. If you do not have permission, please talk to your administrator or call support.
4. Click the Log in button.
5. When you get into the Successware Mobile Admin site, click on the Business Settings option on the left-hand side of the screen.
6. Scroll down to the Financing Settings.
7. Click on an Edit button next to the finance processor that you are going to use to start filling out your merchant information.
8. For GreenSky:
- Enter your 8-digit Merchant ID as provided by your financing company.
- Enter your 4-digit Plan code as provided by your financing company. If you have multiple codes, list each one of them separated by a comma.
- Example: 1234,2345,3456
Making changes to your Financing Settings
At any point you can come into your business settings to make changes to your Financing settings including changing your plans or temporarily disabling the feature.
You can temporarily disable financing processing by clicking on the On/Off switch.
If you need to change your plans, you can simply click Edit to be able to change plans. Then simply type in your new plans or remove the plans you no longer want to support. Click Save after making your changes.
Using the Financing in Successware Mobile
If your company has the Financing feature enabled, you will be able to have your customers apply for financing directly from your tablet right from the field. With this tool, you can make collecting payments from your customers easier.
When your customer fills out the application you will get a response as to the status of the customer’s application almost immediately. They could have the status of:
- Approved – The customer’s application is approved for a specific amount.
- Pending – The customer will need to speak with your financing provider. This could be caused by a credit freeze or a minor mistake. Either you can call the number on screen or they will call the customer. After a quick 20-30-minute call, an answer should be provided about the application status.
- Declined – the customer will not be able to get financing by this company. You must follow your company’s procedure at this point.
Using Financing – Options
You will be able to show financing for each option.
When you are using finance options, you will see a financing available prompt on presented options with the estimated lowest monthly rate (as calculated by your available plans) presented on each option.
Note: This financing price when on the Options DOES NOT currently include sales tax, but the Financing credit limit should be more than the option value plus the sales tax. The final monthly payment would be different.
While you can access Financing on the screen with all the options listed, it will not be able to pull in the amount of the options and will default to $0.
When you tap on the option to present the details of the option and to accept or decline it, you will be able to see the estimated financing as well at the bottom of the option.
Note: This financing price when on the Options DOES NOT currently include sales tax.
To start filling out the Financing application tap on the financing button.
On phone devices the financing button is just the symbol:
Using Financing – Invoice
If your customer wants to apply financing to an invoice. You can apply for financing from the invoice as well.
Prior to applying for financing, make sure the invoice is filled out, the invoice is signed for, and confirm that the invoice is complete and will not be changed. Once payment is collected, the invoice cannot be changed.
Tap Financing in the top right corner of the screen.
Once the Finance Application is complete, record the payment.
Filling out the Financing Application
Once you tap on the financing button, you will be taken through the financing application process.
Select your Processor
1. With the financing screen open, select your processor at the top of the screen. Currently you can select:
- GreenSky
2. Start the application process for your selected processor.
Using GreenSky as your Processor
If you are going to process the financing through GreenSky, follow these steps:
1. Make sure the financing amount is correct at the top of the Financing form.
If it is not correct or you wish to change the financing amount, you may tap the edit icon next to the price amount.
You can choose to edit this field to play around with the estimate monthly payment for each of the plans.
2. Once the customer accepts a plan at the desired Financing Amount, tap the apply button.
3. Have the customer fill out the application.
The system will automatically fill out the following fields based on the customer’s account:
- Requested Loan Amount
- First and Last Name
- Street Address
- City
- State
- Zip Code
- Mobile Phone
- Email Address
The customer will need to fill out the application for the following fields:
- Gross Income
- Date of Birth
- Social Security
4. If your customer is going to apply with a co-applicant, make sure that they check checkbox:
Then make sure the co-applicant fills out their information in the appropriate fields.
5. The customer will need to tap on the checkbox stating that they agree to the following terms.
6. Have the customer review the information that is entered to make sure that it is correct.
7. Then they will need to tap the Submit Application button.
8. After the Submit Application button is tapped, the information will be sent to the finance company for processing.
Once a response is obtained, you will be taken to the results screen that will show if the application was approved, declined, or pending approval.
9. Once the status of the application is determined, you will see a screen that will display the status of the application:
- Approved
- Pending
- Declined
10. If the application is Declined, the customer will not be able to get financing. You must follow your company’s procedure at this point.
11. If the application is Pending, the customer will need to speak with your financing provider. Either you can call the number on screen or they will call the customer. After a quick 20-30-minute call, an answer should be provided about the application status.
This pending status could be due to reasons included:
- The customer has a credit freeze to prevent fraud.
- A minor mistake in the information provided occurred.
Once the call is finished, you may click refresh to see the approval or decline.
12. If the application is approved, you will see the approval screen that will display:
- The credit limit that your customer is approved for.
- The total monthly payment assuming the full credit amount is used.
- The duration of the financing payments.
- The interest rate of the financing plan.
13. Tap on Continue to proceed through the application process.
14. Tap on Activate to go to your financing provider site to activate the loan.
15. The Application ID should already be filled out for you, and you will need to have the customer fill out the last 4 digits of their social security number to be able to find their application.
16. Have the customer review the Important Information and Electronic Consent page then check the check box.
17. Tap Submit.
18. Review the terms with the customer and scroll down.
19. Have the customer tap Activate once they review the terms.
20. After activating the customer may be asked to confirm some details such as previous properties they have owned. Have the customer answer the question.
21. Have the user tap submit.
22. Once the loan is activated you will see a screen showing the loan is activated.
23. You will need to tap on the close button in the top left-hand corner to start to get back to the job.
24. Once the finance loan is activated, continue performing the job. Once the job is complete, you will need to have the customer sign the work is done either through paper means or through your financing provider’s app or website.
Using Financing – Payment
Once you have activated the financing plan for your customer and the job is completed, you will need to open your financing company app and send a payment request to the customer. They will need to open the email that they receive and authorize the payment. After this is done, you will need to record that some or part of the payment was recorded by financing.
If only part of the job is going to be paid via the financing and part of it is going to be paid via some other method, we recommend recording the financing company payment here and calling your office to record the other payment.
1. Tap the Financing option.
2. Select the Financing Company that the customer’s application was approved.
3. Make sure the customer’s Application ID is filled out. This should be automatically.
4. Tap Confirm.
Once the Payment is Received
Once the payment is received, you will need to either post the invoice (if it isn’t posted already) or post a receipt on the customer’s billing account.
If the invoice is already posted without a payment, then you will want to post a receipt on the customer’s billing account.
If the finance company is going to subtract their fee from the total of the invoice such that your company is getting a reduced payment, you will need to record an adjustment on the finance company account. You can do this by recording the amount that the finance company is going to give you and then selecting the Auto with adjustment option on the receipt.
Then select the appropriate adjust code, and put in the remaining amount that represents the finance company’s portion in the adjust amount area.
Looking for a more interactive course on Financing? Check out our Learning Management System (LMS)! Our courses are available to all Successware users. If you don't have a sign-in for our LMS, contact us at training@successware.com for a free account.