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Reporting a Specific Client's Accounts to the Credit Bureau for the First Time

If you have a client that was previously set up as a "Do Not Report" and now you want to start reporting their accounts, there is some prep work that you must consider. The Credit reporting flag on the Client Update system controls to allow reporting will only effect new placements that are loaded after the change. 

Existing accounts will be flagged as "Do Not Report" so just changing the Client Update system controls will not allow these to be reported. If you want to report the existing accounts, you must do the following: 

  • Change the Credit reporting flag on the Client Update system controls to allow reporting (is not retroactive for existing accounts but must be set prior to the METRO2 file processing)
  • If existing accounts have any "Do not report" Description codes on them, these Description codes will need to be removed IF you want these accounts to report
  • For existing accounts, set up a Smart code to reset the Credit reporting flag on the accounts that you want to report
    • Set up selection criteria for the accounts you want to report
    • Set up page 5 field - Do not allow if no decisions are met (Y) = "Y" (all Smart codes should have this field set up :)) 
    • Set up page 7 field - Credit report as new account (Y) = "Y"
  • Apply Smart code to existing accounts - these accounts will then report the next time you run the credit reporting file creation if they qualify based on your Credit reporting system controls

Note:  By Default we do not credit report accounts that are closed with an inactive close code or zero balance (close code 1 - PIF)

Note:  The credit reporting flag will update to "report as new" with the original date that it would have had if it would have originally been allowed to report. (This date cannot be changed even in a circumstance such as this)



Keywords - Kbase Credit Reporting Credit Bureau

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