A Wallet is a type of account which contains an amount of money that can be used to fund transactions within CRM.COM. It works as a mini-ledger that can easily be topped up by various payment events, or spent by CRM.COM functions such as Prepaid Subscriptions or the redemption of Awards.
Wallets are debited and credited through Wallet Transactions.
What Comes First
To start using Wallets configure the System to support your business model. In the following table, you can find the configuration modules related to Wallets.
| Sub-module | Type | Classification | Navigation | Dig In |
|---|---|---|---|---|
| Wallets Definitions | Configuration | CONFIGURATION FINANCE APPLICATIONWALLETSSET UP BUSINESS DEFINITIONS | Configuring Wallet Definitions | |
| Wallets Transaction Types | Configuration | FINANCEFINANCE APPLICATIONWALLETSSET UP WALLET TRANSACTION TYPES | Configuring Wallet Transaction Types | |
| Wallet Expiration Run Definition | Transactional | FINANCE WALLETSPERFORM WALLET BALANCE EXPIRATION RUNS | Using Wallet Balance Expiration Run Definitions |
Step 1: Setting Up Wallets Definitions
First, you will need to configure an active Wallets Definition
Wallet Definitions is a set of business rules used to control the behaviour of Wallets throughout their whole life cycle.
Through the definition you can:
- Define values of related Wallet Causes:
Create Wallets: A definition of the causes that will result in automatically creating new wallets, and includes the following:
- On creating New Accounts Receivable
- On using an Accounts Receivable on a Prepaid Subscription
- On using accounts receivable in reward participants
Cancel Wallets: A definition of the causes that will result into automatically cancelling wallets, and includes the following:
- On Terminating an Accounts Receivable
- On Terminating the relation of Wallets with any Subscriptions or Rewards Participants (Either last prepaid subscription or last Rewards Participant)
Debit Wallets: A definition of the causes that will result into automatically debiting wallets, and includes the following:
- During Prepaid Billing Run
- On spend reward transactions
- Credit Wallets: A definition of the causes that will result into automatically crediting wallets, and includes the following:
- On Payments posting (applicable for all payment type or specific types)
- On Credit Note posting (applicable for all credit note type or specific types)
- On award reward transactions
- Reimbursing Wallets: A definition of the causes that will result into automatically reimbursing wallets, and includes the following:
- On Cancelling a Wallet
- On Changing a Prepaid Subscription Accounts Receivable
- Void Wallet Transactions: A definition of the causes that will result into automatically voiding wallet transactions, and includes the following:
On Cancelling a Payment (applicable for all payment cancellation types or specific types)
- On Cancelling a Reward Award Transaction
- On Cancelling a Spend Award Transaction
- Define values of related Wallet Rules:
- Crediting Rules: Specify the rules that will be applied during crediting a wallet
- Reimbursing Rules: Specify the rules that will be applied during reimbursing a wallet
- Voiding Rules: Specify the rules that will be applied during voiding a wallet
Step 2: Setting Up Wallets Transaction Types and Wallet Balance Expiration Runs
Configure the following modules for additional functionality and categorisation. You can skip configuration of these modules if not required by your business model
- Wallets Transaction Types: Used to define the behaviour and the nature of each wallet transaction and the business processes, rules and restrictions that should be applied to creating wallet transactions, based on the wallet transaction type classification. The supported wallet transaction type classifications are the following:
- Credit
- Debit
- Reimburse
- Void
- Wallet Balance Expiration Run Definitions: Wallet Balance Expiration Run Definitions are used to define the rules by which Runs will be performed, to identify the Wallet amount that should be expired and debit the Wallet for the unspent amount of money. (The identification is done based on the specified Expiration Date and the amount already spent) The resulting debit that reflects the expired amount is directly allocated against the expired credit amount.
The Expiration-Date is specified either manually or automatically, as part of a Reward Offer Award that has a specific Expiration Date