Dealer Reserve Chargeback Reversal [U0238]

Update u0238 Dealer Reserve Chargeback Reversal accepts lease or asset number and displays those assets in selection and amount of their chargeback. U0238 reverse chargebacks by following:

• Dealer reserve IDC adjustments to increase dealer reserve by the amount of the chargeback;
• Clearing the chargeback amount on the asset;
• Disbursing a check for chargeback.

When a chargeback is unwittingly occurs either through an asset status change or through an early payoff or termination, the action creating the chargeback should be reversed. However, reversing the chargeback will not reverse the chargeback and the user may not want the chargeback to be reversed. If the chargeback should also be reversed, it can be done through this new menu option.

The above screen appears when user selects update U0238 - Dealer Reserve Check Disbursal.

Field Description

Lease

Enter lease number to reverse all chargeback on assets attached to this lease.

Asset

Enter an individual asset number to reverse the chargeback on one individual asset.

NOTE: If the lease or asset has been paid off or terminated, the payoff or termination must be reversed first to put the assets back on an active lease. So chargeback reversals cannot occur for paid off or terminated assets or leases.

Once the lease or asset number is entered and the user clicks OK, the screen will display all assets in the selection (only those on lease), along with the amount of their chargeback (Asset - chargeback amount IDC7), and the dealer reserve pay to (Asset - Payable to IDC7).

User cannot change any of the field on the above screen. To change any field user has to click on cancel button to go back to the previous screen and make new selections.

To process chargeback reversal, U0238 will perform an IDC adjustment to increase the dealer reserve by the amount of the chargeback in the same way an IDC adjustment performs through U0225. This update will also clear the chargeback amount field value of chargeback amount IDC7 on the asset. At the end, the update will create a new check in RCK to disburse the amount of the chargeback to the dealer again.This update will process it in the same way as U0101 Disburse Check disburses disbursements except the transaction reason code for reversal is 'CBRV' for Chargeback Reversal.

Field Description

Lease

Lease number will be displayed to chargeback reversal.

Asset

Lease number will be displayed to chargeback reversal.

Amount

Amount of an asset will displayed for chargeback reversal.

Pay To

Vendor/dealer will be displayed to whom dealer reserve will be paid.

Total

Total amount will be displayed for asset chargeback reversal.

 

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