Clearinghouse settings determine how payment is transacted between buyers and sellers in private marketplaces (PMPs). The clearinghouse selected for each PMP relationship determines who sends out invoices to buyers and who makes payments to sellers for transactions made through that PMP. Sellers who are participating in at least one PMP can define clearinghouse preferences.
To create or modify your Seller Clearinghouse Settings, navigate to Admin > General Settings > Seller Clearinghouse Settings. The following columns appear:
- Buyer - approved buyers. Each buyer is participating in at least one of the seller's PMPs.
- Private Marketplace - the PMP with which the buyer is associated (note that a buyer can be connected to more than one PMP).
- Cleared by AOL - indicates whether AOL serves as the clearinghouse for the relationship.
- Last Changed - date on which the last change was made for the relationship.
- Change Options - sellers can schedule changes and approve or reject changes proposed by the buyer.
Once on the page, sellers can also:
- Use the Search box to find a buyer for a private marketplace and change the clearinghouse for that selected buyer only on that private marketplace.
- Schedule a change using the drop-down menu. The buyer will see "Change Pending" and the effective date.
- The seller can cancel the change if the effective date has not yet occurred.
- Only users with administrative privileges can make clearinghouse changes for the organization.
- Sellers can configure different clearinghouses settings for individual buyers.
- Because billing takes place on a monthly basis, clearinghouse changes can only be set to take place on the first day of a future month. (The pending date for any scheduled change is shown in the grid and can be canceled if it has not yet taken effect.)
- When a buyer submits a change request to the seller, the seller will have the option to either approve or reject the request:
- If the seller does not respond to a change request by a buyer before the selected effective date, the change is canceled.