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Understand the usage of Wallets within CRM.COM |
What does this section cover?
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What are Wallets ?
Wallets Glossary
| Terms | Descriptions |
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Wallet Balance | The amount of money which are available in a wallet and can be used to carry out transactions within CRM.COM. In more technical terms the balance is the credits less the debits |
Wallet Identifier | A value that uniquely identifies the wallet. It can be a direct identifier like the wallet id or wallet number or an indirect identifier like the related account receivable’s id or number |
| Wallet Allotments | Wallet allotments are used to identify restrictions on how the wallet available amount, generated by wallet credit transactions, can be consumed |
Wallets Key Processes and Concepts
| Processes / Concept | Description |
|---|---|
EXAMPLE Allocation Process & Allocation Principles | EXAMPLE The allocation process is used to allocate credit transactions against debit transactions to settle them.
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| Wallet Credit Transaction | A wallet debit transaction is a type of wallet transaction which is used to debit (i.e. deduct an amount of money) from the wallet. The entity (i.e. specific product) and entity value (amount consumed by the specific product) can be optionally specified, in order to be validated against any allotment amount and therefore use that allotment amount If the Debit Transaction is to be created automatically then this will be defined in the Wallet Definitions - Debiting Causes |
Wallet Debit Transaction | A wallet debit transaction is a type of wallet transaction which is used to debit (i.e. deduct an amount of money) from the wallet. The entity (i.e. specific product) and entity value (amount consumed by the specific product) can be optionally specified, in order to be validated against any allotment amount and therefore use that allotment amount If the Debit Transaction is to be created automatically then this will be defined in the Wallet Definitions - Debiting Causes |
Wallet Reimburse Transaction | A wallet reimburse transaction is a type of wallet transaction which is used to debit (i.e. deduct an amount of money) the wallet, in order to pay back an amount of money, or to use that amount in any other processes (for example to convert the wallet remaining amount into a credit financial transaction which will be allocated against the Financial Account belonging to the wallet holder, which can either be paid back to the customer or not) If the Reimburse Transaction is to be created automatically then this will be defined in the Wallet Definitions - Reimburse Causes |
Wallet Reimburse Transaction | A wallet void transaction is a type of wallet transaction which is used to cancel (reverse) a wallet transaction of any type (credit, debit, reimburse) and make it non-visible to the wallet holder. A wallet void transaction is always related to the wallet transaction that it voids. If the Reimburse Transaction is to be created automatically then this will be defined in the Wallet Definitions - Void Causes |
Wallets Key Processes and Concepts
| Processes / Concept | Description |
|---|---|
| Categorising Wallet Balance based on Conditions | |
| Wallet Balance Estimations |
Wallets Network Characteristics
Network Characteristics define the level of access for each record. i.e. Whether it will be available for selection, for viewing or editing etc.
| Entity | Network Characteristics |
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| Wallets | |
| Wallet Transactions |
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Wallets Related Modules
| Interaction Entity | How |
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| Accounts Receivable | Wallets owned by Accounts receivable |
| Wallet Transactions | Wallet Transactions allocated against Wallets |
Wallets - Business Examples
The following section provides business examples to help you understand how CRM.COM Wallets module is used.
Calculation of wallet estimated consumption for prepaid subscriptions
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Business Requirement Company ZX provides its customers with Prepaid Subscriptions. This means that the customers pay up front for the services that they would like to be viewing. Once the amount they have paid is out then the services are automatically disconnected. The credited amount can be allotted on specific products that they have on their subscription. Customers often call in order to find out how much money is left in their account and when their subscription will be disconnected. Case 1 Customer has paid 300 and he has 2 products on his subscription. Sports HD and Kids HD. Customer is subscribed to normal Price Plan with the following prices: Kids HD: 20 per month Sports HD: 30 per month CRM.COM Solution ........... Customers with Prepaid Subscriptions will have both an Accounts Receivable as well as a Wallet. The wallet will hold the amount of money that the customer has paid upfront in order to use it for his prepaid subscription.
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