A wallet is an account which holds an amount of money that can be used to fund transactions within CRM.COM Software. A wallet is used as a mini ledger that can easily be topped up by various payment events or spent by a 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.
What Comes First
To be able to use Wallets you need to configure the system to support your own business model. In the following table you can find all the related configuration modules related to Wallets.
Fast Track: If you would like to set up your system with the basic functionality and get started with using it, follow the sub modules that are marked by the Fast Track Icon
| Sub-module | Type | Classification |
|---|---|---|
| Wallets Definitions | Configuration | |
| Wallets Transaction Types | Configuration |
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 behavior 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 into 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
System Access Via CONFIGURATION
FINANCE APPLICATIONWALLETSSET UP BUSINESS DEFINITIONS
To learn more, visit Configuring Wallet Definitions
Step 2: Setting Up Wallets Transaction Types
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 behavior and the nature of each wallet transaction and the business processes, rules and restrictions that should be applied on creating wallet transactions, based on the wallet transaction type classification. The supported wallet transaction type classifications are the following:
- Credit
- Debit
- Reimburse
- Void
System Access Via FINANCE
FINANCE APPLICATIONWALLETSSET UP WALLET TRANSACTION TYPES
To learn more, visit Configuring Wallet Transaction Types