UAS Billing Invoice

UAS Billing Invoice

UAS delivers a detailed billing invoice every month for merchants that have a finance program that provides servicing for billing programs. Not all merchants will have billing programs, some merchants have purchasing-only programs and will not have billing invoices. UAS strives to collect on the total accounts in service. Our rates are a reflection of the amounts collected less our servicing fees. The result is deposited into your bank account.

Invoices will be available on the 7th business day of the month. Deposits will be made within 24-48 hours after invoicing is complete. Once the process is complete the invoices are made available via the uPortal360 platform.

Accessing Billing Invoices

To view invoices you must have the View Invoices permission, and to run detailed invoicing reports you will need the UAS Invoices report set. Permissions and report sets can be assigned by a user with the User Management permission. Please contact this user to assign the permissions and reports needed.

How to Read Billing Invoices

We created an invoice example, How to Read your Billing Invoice (below). This example provides a high-level review on the first page. The second page provides detailed descriptions/definitions and equations used for calculating invoice amounts.

View Billing Invoices - PDF

To see invoices you must have the View Invoices Permission. When you log in to uPortal360, you will see an option called Invoices in the navigation menu.

UAS Billing Invoice Reports

To run detailed invoicing reports you will need the UAS Invoices report set. When you log in to uPortal360, you will see a list of reports that start with "Invoicing - (Report Name)."

Invoicing - Summary Report

This report details all fields found on your invoice.

Field Definitions

Invoicing - New Accounts

This report shows newly added accounts to your portfolio. This report represents the number of accounts on your invoice for the "New Account Load" fee.

Invoicing - Transactions

This report will show you transactions for an invoice period. The transactions are used to represent collections and returns/NSF and late fees collected.

Field Definitions

Invoicing - Transactions - Pct of Collections

This report will show you transactions for an invoice period. The transactions are used to represent collections and returns/NSF and late fees collected, with additional servicing portfolio information.

Field Definitions

Invoicing - Account Summary

This report shows you all accounts in your servicing portfolio for an invoice period. The AutoPay Type will inform you if the account had or did not have a recurring payment.

Field Definitions

Invoicing - Letters

Total letters that were mailed to consumers.

Field Definitions

Invoicing - Misc Charges

All Miscellaneous Charges on your invoice.

Field Definitions

FAQs

How do I obtain more than six months of invoices?

We make the last six months of invoices available in our portal. However, if you need access to older invoices, please contact uSupport (888-842-2461, option 1).

Why is my first invoice negative?

There is a New Account Load fee for all new accounts added to UAS for servicing. We also have a monthly minimum servicing fee. When you first start, you are originating new contracts that will not be due for payments for at least 30 days. UAS will have servicing fees for the new accounts but no payments will have been collected from consumers resulting in a negative balance.

Please do not worry about remitting payment for your first month. We will deduct the fees from the next month's payments collected.

What do each of the line items mean on the invoice?

Please refer to the "How to Read Billing Invoice" PDF that is available at the start of this article.

Why am I paying for servicing and load fees on new contracts?

Load fees cover the use of our platform and the cost to process credit applications and electronic signatures. Servicing fees cover sending statements, notices, and taking/making calls.

We do not have a monthly license or individual license fee, rather we assess fees based on usage.

Why is there a minimum monthly payment?

All accounts have a standard monthly payment that is due to UAS. That is what it costs for us to maintain your account every month. Once you have a few loans serviced you will be over that minimum amount.

Merchant Payments Received

You will need your Invoicing- Transactions report. Use Column I (Type) to sort for only PMT types that contain the word "Merchant". Highlight Column J (PMT Amt), summarized amount will match the total of payments reported to UAS

Use Reports for Details of Billing Invoices

Access Invoice PDF and Reports

To balance fields on a merchant's invoice and to ensure all charges and amounts are correct, you must first access your invoice. Finding any of the fields below will start the same way:

1. Go to uportal and select “Invoices” and download the invoice that matches the invoice you are searching for with the invoice under the “Name” column.
2. Still in uportal under the reports tab go to the type of report you are trying to run
   1. Invoicing- Transactions
   2. Invoicing- New Accounts
   3. Invoicing- Account Summary
   4. Invoicing- Letters (If the message "No Reports Found" appears then there were no charges for "Letter Found" and "Letter Received")
   5. Invoicing- Misc Charges (If the message "No Reports Found" appears then there were no deductions for "Miscellaneous")
3. Select the drop-down menu for the billing period you are verifying (Save as CSV, convert to XLSX if you want)

Excel Tips & Tricks

To verify your invoices, it's helpful to know a few tools in Excel. These features will be a reference in the verification details.

Apply Data Filter to Sheet - An easy way to sort data is to apply a data filter to the entire sheet. Use "ctrl + a" or click on the arrow between Column A and Row 1 to select the entire sheet. Then go to the Data tab and select Filter. Now every column in the sheet will have a drop-down arrow that will allow you to sort by that column or apply quick filters.

Summarize Data

• If you filter a row, as you apply a filter it will count the rows
• If you highlight an entire column (click on "A" as an example) excel will count rows and if the field is numeric it will summarize the values. This is easy want to see totals without having to add a summary formula
• Pivot Tables - a bit more advanced, but provides an easy way to summarize data by group and subgroups

Verify UAS Payment Details

Payments Recieved

You will need your Invoicing- Transactions report.

1. Sort by Column P (Invoice PMT Detail) to only show "Payments Received"
2. Highlight Column J (PMT Amt), summarized amount will match total of payment received
3. Further sort by Column Q (AutoPay) - If this field is none, consider this the same as without recurring payment
   1. None = w/o Rec Pmt
   2. Any other value = Rec Pmt

Return Payment:

Follow the same steps for Payment Received, but select to sort Column P (Invoice PMT Detail) to only show "Returned Payment (NSF)"

Late Charges- On Merchant Payments Received or Late Charges- On UAS Payments Received

Remove all other data sorts. Sort Column K (Fees) for any value not equal to $0.00. Use Column I (Type) to determine if payment was received by the merchant or UAS. If the type contains "Merchant" then it will be counted in the merchant payment received category.

Refund:

Follow the same steps for Payment Received, but select to sort Column P (Invoice PMT Detail) to only show "Refund"

Verify Billing Charges

New Account Load

You will need your Invoicing- New Accounts report.

1. Highlight Column D (Acct #) - The summarized amount will match the quantity.

Likely you will not need to download this report to see the total. You can see it in the count on the report in uPortal360.

Accounts with Recurring Payments

You will need your Invoicing- Account Summary report.

1. Sort by Column H (AutoPay Type) not equal to NONE.
2. The sort amount in the bottom left of Excel will display the quantity.

Accounts without Recurring payments

You will need your Invoicing- Account Summary report.

1. Sort by Column H (AutoPay Type) equal to NONE.
2. The sort amount in the bottom left of Excel will display the quantity.

Recurring Payment % of Collections

Using the values from above - Payments Received / Rec PMT - multiplied by the % collection fee per item will give you the total due.

Without Recurring Payment % of Collections

Using the values from above - Payments Received / w/o Rec PMT - multiplied by the % collection fee per item will give you the total due.

Verify Pass-Through Fees Deducted

Merchant Processing Fees- Credit

You will need your Invoicing- Transactions report.

1. Sort by Column N (Card Type) for Visa, Mastercard, Discover.
2. Highlight Column J (PMT Amt) to see sum of dollars processed by these card types.

Merchant Process Fees- Amex

You will need your Invoicing- Transactions report.

1. Sort by Column N (Card Type) for American Express.
2. Highlight Column J (PMT Amt) to see sum of dollars processed by this card type.

Letter Mailed:

You will need your Invoicing- Letters report.

1. Sort by Column J (Delivery Method) = Stand Alone.
2. Count of the Data Sort will show the quantity of letters mailed.

Letter Inserted:

You will need your Invoicing- Letters report.

1. Sort by Column J (Delivery Method) = Inserted.
2. Count of the Data Sort will show the quantity of letters mailed.

Average Portfolio Billing

Average Portfolio Billing is similar to an investment management fee which is defined as an annual percentage in your agreement. UAS billing is done monthly. To calculate your monthly portfolio fee, we first take the annual percent and divide by 12 months to find the monthly percentage. We then multiply that value by the average principal balance of your portfolio (which is the average between the beginning balance and ending balance for the invoice month).

Additional Deductions (if applicable)

Miscellaneous

You will need your Invoicing- Misc Charges report.

Buybacks

Buybacks are the result of contract balances that are cancelled, adjusted, or when a condition within the Merchant’s repurchase obligation occurs. Buybacks are required to be repurchased by the Merchant within ten (10) days of notice from UAS, and no later than three (3) days upon receipt of invoice from UAS unless alternate arrangements are agreed to. The buyback lifecycle is managed by the Merchant Performance and Financial Program Services teams. The performance of buyer and merchant portfolios is dependent upon the ability to identify and resolve all unpaid buybacks in a timely manner.

Total Monthly Advances