Vendors

14 Vendors

During the life of an account, a financial institution might require the use of specialized services of a vendor for various purposes; for example, repossessing a vehicle, retaining an attorney for bankruptcy court proceedings or making field calls. With the system’s Vendors screen, you can:

Maintain vendor information
Maintain services offered by the vendor
Assign tasks to the vendors and subsequently track and process those tasks
Charge vendor expenses to customers
Enter and update invoices raised by the vendors
Post vendor transactions
Process vendor payments

Once an invoice has been presented for a service performed by a vendor, you can enter information on Vendor Management form and create a monetary transaction. You can then choose if the customer should pay any particular expense or not.

The Vendors screen allows you to set up vendor information. You can also use the copy feature to quickly create new vendors with the existing details. By default it will show current address but if the vendor receives escrow disbursement at an address which is different from current business address the information can be entered in Payment Details sub screen. Also, the Payment Details sub screen allows you to enter number of days prior to the due date by which payment to vendor must be processed.

Navigating to Vendor Detail Screen

On the Oracle Financial Services Lending and Leasing home screen, click Servicing > Servicing > Vendors.
The system displays the Vendor screen.

The details are grouped under the following tabs: