Collecting Payments on the Order

Payment Collection By Lender: 

Lenders can collect payment for orders using either an Invoice, or simply via Credit Card. These settings can be configured on the client's profile. 

When the payment is being collected using Credit Card, the lenders will need to setup an account on Authorize.net and link their account to ValueLink. 

Setting up Payment Gateway: 

To set up Authorize.net as the Payment Gateway: 

Login as the Amsadmin → Go to Admin from the top menu → From the left menu bar → Click Payment Gateways → From the Actions Menu click on Add New Payment Gateway → Select Authorize.net → Add the API Login and Transaction Key → Save Payment Gateway

Billing Method: 

There are two ways payments can be collected by the lender within the system: 

1. Invoice 
2. Credit Card 

These payment methods can vary from client to client in cases where the payment is being collected by the lender, to configure payment methods: 

Go to Client Profile → Edit Client Details → Scroll Down to Billing Settings → Enable the Billing methods you want to configure for the client. 

Users can also configure a Preferred Payment Method. This will be the default method on all orders until changed. 

Invoice Payments: 

These invoices are attached to the order and the payment can be collected by the lender from the borrower outside the system. Once the order payment is received, lenders will then have to manually add the record in the Accounts Receivable section. To do this: 

• - Login to the system as the AMSadmin 
• - From the top bar → click on Accounts → Accounts Receivable 
• - Click on Create a Payment 

• - You can either Create a New Payment
• - Add all the necessary information and click on Save Payment. 

• - Import a Template 
• - Users can add multiple payments using one check or record one payment against each invoice. 

Credit Card Payments: 

When the billing method for an order is set as Credit Card, there are various ways the payment can be collected. ValueLink users Authorize.net as they payment Gateway for Credit Card payments: 

1. Upload Authorization Form -  A form is submitted to grant permission for the payment action or to authorize a payment on behalf of the borrower.
2. Provide Credit Card Now - While paying for the order, Credit card details are entered then and there and the payment can be collected. 
3. Contact Borrower for Credit Card Payment - The lender contacts the borrower for payment information. 
4. Send Payment link to Borrower - A link to the payment form is sent to the borrower via email. Borrowers can complete their payments by entering the payment details and submitting the payment form. 

Payment Collection By AMC: 

The payment can also be collected by the AMC using a company level setting. When the setting is enabled, AMC will be responsible to collect payments for the orders. When the order is created, the system will be notifying the AMC about payment collection and invoice will be passed on. 

Note: As a Lender, you do not have to take any additional steps for payment collection when the AMC is responsible for collecting payments.