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Excerpt
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Understand the usage of Wallets within CRM.COM

What does this section cover?

Table of Contents
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What are Wallets ?

A wallet is an account which holds an amount of money that can be used to fund transactions within CRM.COM. A wallet is used as a mini ledger that can easily be topped up by various payment events or spent by CRM.COM functions such as a prepaid subscription. Wallets can be managed through wallet specific processes which can create, update or cancel wallets or generate wallet transactions that credit, debit or refund amounts in wallets.

Wallets Glossary

TermsDescriptions

Wallet Balance

The amount of money which is 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 accounts 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

Wallet Credit Transaction

A debit wallet transaction is a type of wallet transaction which is used to credit (i.e., add an amount of money) into 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 Credit Transaction is to be created automatically then this will be defined in the Wallet Definitions - Crediting Causes 

Wallet Debit Transaction

A debit wallet 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 reimburse wallet 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 Void Transaction

A void wallet 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 Void Transaction is to be created automatically then this will be defined in the Wallet Definitions - Void Causes
Wallet Transfer Transaction
Status
colourRed
titleAvailable from CRM.COM R9.0.0
A wallet transfer transaction is a type of wallet transaction which is used to transfer money from one wallet to another. The Wallet Transfer transaction refers to two wallets; the wallet from which money will b transferred from (i.e. the wallet being debited) and the wallet to which money will be transferred to (i.e. the wallet being credited).

Wallets  Key Processes and Concepts

Processes / ConceptDescription
Wallet Balance Calculations

Wallets have their own balance as with accounts. In the case of wallets there are 2 fields providing information related to balance.

Note:Wallet Transactions with classification Transfer are not taken into account during wallet balance calculation.
This is because transfer transactions are related to a debit and a credit wallet transaction which in turn are considered during balance calculation.

  • Wallet Balance
    Balance = (credit WT amounts + voided debit WT amounts + voided reimburse WT amounts) - ( debit WT amounts + reimburse WT amounts + voided credit WT amounts)
  • Product Balance

Balance = (credit WTA amounts + voided debit WTA amounts + voided reimburse WTA amounts) - ( debit WTA amounts + reimburse WTAamounts + voided credit WTA amounts)

WTA = Wallet Transaction Allotment (related to a specific product)

Estimated Consumption values

Wallets are used by prepaid Subscriptions for billing and payments. Via Wallets you can check the date by which a Prepaid Subscription (based on its products and the price plan rates) will be disconnected.

Consumption Amount Calculation for long periods

  • If the remaining consumption amount covers more than the next 6 months then the estimation may not be as precise

  • If the remaining consumption amount covers more than the next 3 years then the estimation will not be able to retrieve any results

    Info

    Status
    colourRed
    titleAvailable from CRM.COM R9.0.0

    The maximum estimated time is now configurable through Configuring Prepaid Billing Run Definitions. The default value is 1 year, but it can be configured to be more. The system will estimate up to the value that is configured. i.e. you can configure the Maximum estimation to be up to 10 years.( You no longer have the maximum 3 year threshold)

Calculations of remaining balance and consumption days is done by the Prepaid Billing Run

  • Once BR (Billing Run) is executed the remaining amount on the Wallet and the remaining product allotted amount is calculated.
  • The cost of the product is then calculated per day using the price provided on the respective Price Plan
    • If more than one products exist then the sum of all the products will be calculated. For example:
      • Product Allotted = Cost per Product per day
      • Wallet = Sum of (Cost per Product per day)
  • Remaining consumption days (Wallet) = Remaining Balance / Sum of (Cost per Product per Day)

  • Remaining consumption days (Product) = Remaining Allotted Amount / Cost per Product per Day

 


  •  

Note

If the UOT of a product in the Price Plans is not set to Daily, then according to the month the calculation is made and the daily rate will vary. See the example below.

 January (31 Days)February (28 Days)April (30 days)
Monthly Product Rate313131
Daily Rate Estimation31/31 = 131/28 = 1.1131/30 = 1.03

 

 

 

Wallets  Network Characteristics

Network Characteristics define the level of access for each record. i.e., whether it will be available for selection, viewing, editing etc.

EntityNetwork Characteristics
Wallets
Wallet Transactions

 

Wallets  Related Modules

Interaction EntityHow
Accounts ReceivableWallets are owned by Accounts receivable
Wallet TransactionsWallet Transactions allocated against Wallets
Rewards ParticipantsAll rewards Participants own a wallet which holds wallet transactions created via reward award transaction and reward spend transactions
Prepaid SubscriptionPrepaid Subscriptions billing and paying is handled via wallets
VouchersVoucher payments will create Credit wallet transactions. If vouchers have specified products then wallet allotments are also created
RewardsRewards Run will create spend and award reward transactions that will debit and credit the wallet accordingly

 

Wallets  - Business Examples

The following section provides business examples to help you understand how the CRM.COM Wallets module is used.

Calculation of wallet estimated consumption for prepaid subscriptions

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titleCalculation of wallet estimated consumption for prepaid subscriptions

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 use. Once the amount they have to pay for their services is insufficient 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 Euros and he has 2 products on his subscription. Sports HD and Kids HD. Customer has subscribed to normal Price Plan with the following rates:

Kids HD: 20 Euros per month

Sports HD: 30 Euros per month

CRM.COM Solution

Customers with Prepaid Subscriptions have both an Accounts Receivable as well as a Wallet. The wallet holds the amount of money that the customer has paid upfront in order to use it for his prepaid subscription.

  • Once the background process is executed the following information will be populated: 
    Current Date: 01.06 

    Wallet

    • Estimated Consumption Days:6 months
    • Estimated Consumption Date: 01.12
    • Estimated Consumption As of Date: 01.06
    • Balance: 300

    Per Product

    • Sports HD
      • Estimated Consumption Days:  
      • Estimated Consumption Date: 01.12
      • Estimated Consumption As of Date: 01.06
    • Kids HD
      • Estimated Consumption Days:
      • Estimated Consumption Date: 01.12
      • Estimated Consumption As of Date: 01.06
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