---
title: "Records & Statuses"
canonical: "https://bizcore.refined.site/space/BCKB/1783890004/Records%20%26%20Statuses"
format: markdown
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> Macro (toc)
# **Overview**
Biz Core operates using a system of records, these records store the information of the customers managed by subscribers through the Biz Core portal, similar to a conventional CRM database. The foundation of this system is the customer record, serving as the base. Additional records are linked to this customer record. For instance, if a customer has a loan, a loan application, or a payment agreement, these would be connected to their customer record. This interconnected approach forms the structure of the Biz Core system, enabling comprehensive management and organisation of customer-related data.
Each of these records is equipped with a specific status. This status serves as a way to monitor the progress and state of a given record. For instance, a loan application might initially be in the Processing status while undergoing assessment. Subsequently, it can transition to the Approved status once it has been actioned by a user.
The system assigns a distinct reference number to every created record. With six separate record types, each is assigned a unique prefix that aids in identifying its specific type:
| **Record Type** | **Prefix** | **Example** |
| --- | --- | --- |
| Customer | BCC | **BCC**001001A |
| Lead | BCB | **BCB**001001A |
| Application | BCA | **BCA**001001A |
| Loan | BCL | **BCL**001001A |
| Agreement | BCP | **BCP**001001A |
Users can quickly locate each of these records by using [workspaces](https://bizcore.refined.site/space/BCKB/1778483201/Workspaces), or searching for the unique reference number in the Biz Core search bar:
After locating a record users can[ navigate between](https://fsoftsolutions.atlassian.net/wiki/spaces/BCKB/pages/1788248065) any that are associated with the same individual or business customer.
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# **Customer Record**
The customer record is the foundation of all other workspace records, it contains information about the individual or business customer it has been created for:
Details that can be stored in the customer record include:
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# **Lead Record**
When a customer uses the Biz Core loan application form, it generates a lead record that [users can action](https://bizcore.refined.site/space/BCKB/1776975877/Lead+Management) into an application and ultimately a loan:
On a lead record users can view basic application information and view any uploads submitted with the application, allowing users to determine whether the lead should be dismissed or converted to an application.
## **Lead Statuses**
| **Status** | **Description** |
| --- | --- |
|  | A customer started the Application Form but did not complete it. Any personal details the customer entered will be visible within the Lead record, allowing the user to follow-up with the applicant. |
|  | A customer has completed the Application form and a user must decide whether to convert the Lead to an Application or dismiss it. |
|  | The Lead was converted to an Application. |
|  | The Lead was dismissed, no Application was created. |
---
# **Application Record**
This record will guide users through the loan origination process, allowing them to reference any documents provided by the applicant, as well as view the complete application form while moving through each assessment step. [Click here to learn more about the loan application process](https://bizcore.refined.site/space/BCKB/1779826689/Loan+Application+Process) in Biz Core.
## **Application Statuses**
| **Status** | **Description** |
| --- | --- |
|  | This is a brand new application and has not been actioned by a user. |
|  | The application is being assessed. |
|  | The assessment is currently delayed. For example, waiting for the customer to supply ID or other necessary information. |
|  | The application is being reviewed by a manager or auditor. |
|  | The application has been withdrawn. |
|  | The application has been assessed and declined. |
|  | The application meets approval criteria but requires specific conditions to be fulfilled before final approval. |
|  | The application has been assessed and approved. |
|  | All steps of the application have been completed and the loan contract has been signed. |
## **Application Status Transitions**
---
# **Loan Record**
This record facilitates the management of the loan life cycle through automated processes and user servicing. This record contains the loan details, ledger and other information, [click here to learn more about loan servicing](https://bizcore.refined.site/space/BCKB/1775009805/Loan+Servicing) in Biz Core.
The tools available to users from this record provide the ability to:
## **Loan Statuses**
| **Status** | **Description** |
| --- | --- |
|  | The loan was voided and never became Active. |
|  | A loan contract is waiting to be signed by the borrower. |
|  | The loan contract has been signed and funds can be disbursed. |
|  | The loan is open and repayments will be processed as scheduled. |
|  | The loan has fallen behind on repayments and extra fees may be owing.
> ⚠️ *Note: Once the customer pays the overdue amount and is no longer behind on their repayments, the system will automatically change the loan back to Active status.* |
|  | Managed status is a broad category that may be used for accounts in arrears where contact has been made with the customer and an arrangement is in place to clear the outstanding amount, or for other situations requiring special handling or manual oversight outside of standard processes. Managed status is optional and can be used based on your internal processes.
> ⚠️ *This status is applied manually by a user and does not change automatically. When it is no longer required and the loan is simply Active, the user must manually change the status back to Active.* |
|  | The loan is under review for eligibility for financial hardship assistance. Hardship Application status is optional and can be used based on your internal processes.
> ⚠️ *This status is applied manually by a user and does not change automatically. When it is no longer required and the loan is simply Active, the user must manually change the status back to Active.* |
|  | The loan is in an approved hardship arrangement with adjusted terms or support measures. Hardship status is optional and can be used based on your internal processes.
> ⚠️ *This status is applied manually by a user and does not change automatically. When it is no longer required and the loan is simply Active, the user must manually change the status back to Active.* |
|  | The loan has been defaulted and is now with a collections team/agency. Collections status is optional and can be used based on your internal processes.
> ⚠️ *This status is applied manually by a user and does not change automatically. When it is no longer required and the loan is simply Active, the user must manually change the status back to Active.* |
|  | The loan is with a collections team/agency and under special circumstances, for example: Part IX debt arrangement. Collections: Managed status is optional and can be used based on your internal processes.
> ⚠️ *This status is applied manually by a user and does not change automatically. When it is no longer required and the loan is simply Active, the user must manually change the status back to Active.* |
|  | The loan balance has been cleared and settled. |
|  | The loan was refinanced by another loan. |
|  | The loan has reached a circumstance where there is no possibility of recouping the money, for example: borrower is deceased. |
|  | The loan has been sold on to a third party, for example: a collections agency. |
## **Loan Status Transitions**
> ⚠️ Green highlighted are automatic transitions
> ⚠️
> ⚠️ Orange highlighted are manual transitions
## Loan Status Transition Examples
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# **Agreement Record**
This record is used to manage a direct debit/payment agreement with the customer. As Biz Core debits on behalf of the subscriber, this record is used to manage any recurring or once-off payments and track completed, declined or processing debits made by the customer. [Click here to learn more about payment services](https://bizcore.refined.site/space/BCKB/1775304708) in Biz Core.
From this record users can:
- Edit, add or remove scheduled payments.
- Update payment methods.
## **Agreement Statuses**
| **Status** | **Description** |
| --- | --- |
|  | The Agreement is waiting to be [authorised](https://bizcore.refined.site/space/BCKB/1806729224/Ad-hoc+Payment+Agreements#Step-6---Customer-Authorises-Agreement).
> ℹ️ An Agreement is authorised when the [customer signs the electronic Direct Debit Agreement (DDA)](https://bizcore.refined.site/space/BCKB/1953693733/How+to+Get+a+New+DDR+Service+Agreement+Form+Signed#Step-2---Customer-Authorisation).
> ℹ️
> ℹ️ Alternatively, a user can click the thumbs up icon on the Source Card to manually authorise the agreement. This should only be done if a paper DDA has been signed, in lieu of the electronic version. |
|  | The Agreement is authorised and will debit payments as scheduled.
> ⚠️ Provided the customer has consented to the Direct Debit Authorisation. |
|  | A user has suspended the agreement, scheduled payments will not be debited. |
|  | The customer has cancelled the direct debit through their bank, also referred to as a ‘payment stop’.
The customer must ask their bank to lift the cancellation before direct debits can continue.
> ⚠️ Once the customer has confirmed the cancellation is lifted, users need to [change the Agreement status to Authorised](https://bizcore.refined.site/space/BCKB/1953202235#Adjust-the-Status-of-a-Payment-Agreement) before payments will continue to be debited as scheduled. |
|  | The account has been closed by the customer.
> ℹ️ Obtain new bank account details and follow the [How to Update Payment Details](https://bizcore.refined.site/space/BCKB/1953693697/How+to+Update+Payment+Details) guide. |
|  | The bank account details provided are invalid.
The account details could be incorrect or the account type doesn’t support direct debits.
> ℹ️ Refer to [What Type of Accounts Can Be Used for Direct Debit](https://bizcore.refined.site/space/BCKB/1955430408/What+Type+of+Accounts+Can+Be+Used+for+Direct+Debit%3F) for more information. |
|  | The Agreement is closed, direct debits cannot be scheduled. |
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# **Transaction Statuses**
Each individual transaction within the ledger of an agreement record has its own status, explained below:
| **Status** | **Description** |
| --- | --- |
|  | The payment is scheduled and due to be processed at 12:00 PM AEST on the scheduled date.
> ⚠️ **This payment cannot be changed, but it can still be cancelled at this point** |
|  | The payment is being processed.
> ⚠️ **The payment cannot be changed or cancelled from this point onwards** |
|  | The payment was successful and awaiting settlement. |
|  | The payment is being transferred to the nominated settlement bank account. |
|  | The payment was successful and transferred to settlement account. |
|  | The payment was declined. |
|  | The payment was declined after being successful. |
|  | The payment was cancelled, and never processed. |
|  | The payment has been disputed by the customer and is going through a claims process. |
|  | The dispute was successful and funds have been refunded to the customer. |
|  | Biz Core has refunded this payment to the customer. |
More information about the Payment Process can be [found here](https://bizcore.refined.site/space/BCKB/1806630917/Payment+Process), or [click here to learn more](https://bizcore.refined.site/space/BCKB/1955233839/How+Settlements+Payouts+Work) about the Settlement Process.
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