3.1.1 Creating a Product Processor

For creating a product processor, you need to specify details, such as product processor code, description, and the date from when it is effective.

To create a product processor:

1. From the main menu, navigate to Collections and Recovery and then click Maintenance.
2. From the Maintenance menu, click Product Processor and then click Create Product Processor.
   The Create Product Processor page appears.
3. In the Code field, enter a unique identification code for the product processor.
4. In the Description field, enter a description of the product processor.
5. From the Group Basis list, select the option based on which the application should segment the accounts received from the product processor.
6. In the Effective Date field, select the date from when the information received from the product processor is effective in the system.
7. If you want the application to create portfolio company or branch using the Core Branch Definition, enable the Populate Portfolio Company/Branch toggle switch.
   You cannot edit this field once the product processor is created. If this switch is not enabled, system automatically creates the portfolio company or branch.
8. Click Save.

Once the product processor is created, you can view the same using the View Product Processor page. Upon creation, the authorization status of the product processor is Unauthorized and the record status is Open. After a product processor is created, it must be authorized to be effective in the system.