The coupon payment statement that accompanies your MRIS coupon payment is a complex document, and can be difficult to decipher. Below please find some helpful hints for reading your payment detail.
Basic Shipment Data: The first four columns of the open shipment detail list the basic data of the shipment: shipment number, shipment receipt date, and quantity and face value of coupons billed to the manufacturers. The quantity and face value may or may not match what you claimed on your shipment – your shipment notifications will detail any variance.
Beginning Balance: The Beginning Balance columns show the open balance of quantity and face value before the check was paid. This balance has been carried over from any previous checks. If this is the first payment on a given shipment, the Beginning Balance data will match the Billed to Manufacturer data.
Current Paid: The Current Paid columns detail the quantity and face value of coupons being paid on this check. Manufacturer Reversals and Fee Deductions are listed at the bottom of the column.
Adjustments: The Adjustments columns show the quantity and face value of coupons for which manufacturers have denied payment. Detail of these denials can be found in the “Adjustment Details” section of the Coupon Payment Statement. A full list of JICC Adjustment Reason Codes, along with RPR’s Customer Service approach in the event of these denials, is available at your request. RPR takes pride in its ability to help you get these denials reversed. We are the only company in the industry to offer this service. When an adjustment is reversed, the coupon quantity and face value will be subtracted from the Adjustments column and noted in the “Mfg. Reversal” line that appears above the check total. Detail of reversals can be found in the “Mfg. Reversals” section of the Coupon Payment Statement.
Ending Balance: The Ending Balance columns show the open balance of quantity and face value after the check was paid. These are coupons that have been neither paid nor denied by the manufacturer. As you receive successive payments, you can watch this balance approach zero. Since MRIS only pays its retailers when they are paid by the manufacturer, it may take several checks before you receive full payment for a shipment.
A Note on Code 22: Code 22 is not a manufacturer denial; it is a code that the clearinghouse uses to flag an invoice for collection. All invoices still open at 45 days from invoicing are given a Code 22. RPR has a collections system in place to follow up on Code 22s, and has developed a rapport with certain slow-paying manufacturers. This is another service you will not find with any other Clearinghouse.
RPR’s ultimate goal is to change the coupon industry to focus on the retailer. Plus, we have an added incentive: If you don’t get paid, we don’t get paid.
Questions? Concerns? Comments? Call RPR at 908-362-7080