Broker History User Manual

Transcription

1 Broker History User Manual Table of Contents Welcome... 2 New Search... 2 The Watched List... 4 Managing the watched list... 4 To see your watched list... 5 Understanding the Credit report... 6 Broker details... 6 The Credit score... 6 Individual reports... 7 Purchase... 8 Payments... 9 Aging Purchases vs. Payments Chargebacks... 12

2 Welcome to Broker History in this manual we will teach you how to get the most out of our website. New Search 1. Select Payers from the top Menu. 2. Select Payer Search and the page shown below will appear.

3 The new page is divided into two parts 1. A new search. A. Broker Search. The more data you place here the more accurate the search results. 2. Previous search history of payers you have viewed. The Filter allows you to run a search on the search history table. Left click on details to see the full report.

4 The Watched List This list will allow you to keep your eyes on payers of your choice. Should the credit rating of a payer change Brokerhistory.com will send you an alert. Customers you do frequent business with should be added to your watched list. You have several ways to add and remove a name from your watched list. On any search results or search history table as shown below there will be a column labeled watched. If the results are more than one page click next. Simply select the box with your mouse pointer and left click this will add a check mark to the box, adding it to the watch list. Managing the watched list Active use of the watched list will save you time as it shows a quick snap shot of a payer. Two key columns are Total Credit Limit and Credit Score. Changes in these numbers will prompt automatic e- mails to you allowing you to stay up to date without always needing to look them up.

5 To see your watched list 1. Select Payers from the top menu. 2. Select Watched List. To remove a name from the watch list just uncheck the box next to it. To look for a specific name on a watch list with more than one page use the filter. To review the full report, the same as in a search select details.

6 Understanding the Credit report Broker details a. The first section gives you a basic overview of the payer with the name, address total number of customers reporting to individual data sources. i. Total Credit Limit shows you the total of all reporting sources and what they extend as credit to the payer. ii. Warnings tell you how reporting sources have flagged them. iii. The date section tells you about the first record and the last payment. The Credit score 1. The Days to pay gauge shows you the lifetime average days to pay from all the data sources. 2. The Credit score is made up of to parts. a. The letter tels you how easy they are to deal with and is effected by the days to pay aveage. b. The number is the days to pay average over the last 90 days.

7 Individual reports The individual report shows you a breakdown of each reporting source. Selecting details will allow you to see a full report based on the data from an individual reporting source. The main section of the data table shows the following information. 1. Credit limits a. Total is how much they extend across all clients. b. Single shows (if used) how much they will extend to one client. 2. Historical a. Total number of invoices purchased and closed. b. Average days to collect. 3. Last 60 Days a. Number of invoices open in the last 60 days. b. Average number of days they have been open. 4. Last 90 days a. This is the same as the Last 60 days but shows a longer time period. 5. Current open shows a. Number of open invoices. b. Current balance outstanding. c. The age of the oldest invoice d. The average numbers of days the current invoices have been open.

8 Purchase The first sets of graphs are broken down in to three sections and give you three data points. Left clicking on a bar in a graph gives you a text version of the bar. Example: In August 2013, 153 invoices were purchased. 1. Purchase Volume a. This graph shows you the total dollar value of all invoices from all reporting sources that were purchased in a month. The graph contains up to the last 36 months. 2. Number of Invoices a. This graph shows you the number of individual invoices purchased in a given month. The graph contains the last 36 months of data 3. Average purchases a. This graph gives you the average total of one invoice in a given month.

9 Payments This set of charts and graphs for most people will be of the most interest since it shows the breakdown of the days to pay and trends in payment history. 1. The first graph shows over 36 months the average days to pay. 2. The second graph shows the total payments collected in that month. 3. The total number of payments received in a given month. 4. The average amount of each payment in a given month

10 Aging This is the most complicated to understand part of the report but is a very good indicator of the trending payment activities of the payer. The chart is made up of 6 data points and also contains a spread sheet showing the same values as the chart. 1. Total Balance is the sum total of all open invoices in a given month. 2. Current Balance is the total value of open invoices in a given month whose age is less than 30 days open but greater than 1 day of age 3. is the sum of invoices open for more than 30 days but less than 60 days. Over 30 Days 4. Over 60 Days is the sum of invoices open for more than 60 days but less than 90 days. 5. Over 90 Days is the sum of invoices open for more than 90 days but less than 120 days. 6. Over 120 Days is the sum of invoices open for more than 120 days.

11 Purchases vs. Payments The purchase verses payment chart shows you the relationship between the total amount of invoices and how much and when they made payments. The graph used in example 1 is of a good payer as you can see the payment line (red) is in close relation to the purchase line (blue). Example 2 is an example of a bad payer. You can see the Purchase line (blue) has no relationship to the payments line (red). Example 1 1. Purchases: is the sum of all invoices belonging to the payer. 2. Payments: is the total monies received from the payer. Example 2

12 Chargebacks This section of the report shows how often and for how much one of the reporting services were unable to collect some or all of an invoice in a given month. The chart can as in this example show when extra payments (over payments) were received from the payer. Over payment Over payments will appear in the charge back section of the report and is represented as a bracketed number.

13 Short Payments This shows how often and for how much a payer has not paid a full invoice amount the reasons for this can very. Often the charges are a result of late charges, damages to goods delivered or because of a renegotiation of the rates or loads after the initial invoices. 1. Short payment amounts show the total amount of charge backs for a given months. 2. Short payment quantity shows the number of invoices that had a short payment in a given month.