Selection of the Finance Tab enables the review of rental details, finance details and budget lines.
To access the financials tab:
From the Master Menu, select the Fleet Kompact option and Company required.
The Kestrel Kompact Menu is displayed.
Select the Contract Management option.
The Contract Management form is displayed.
Select the 
icon.
The Contract Search form is displayed.
Enter the appropriate information to locate the required agreement.
Select the 
icon.
Select the 
shortcut from the menu on the left of the form.
The contract management Agreement Tab is displayed.
Select the Financials Tab.
The Financials Tab Dialogue Box contains the following fields:
Financial Values
Income: The total calculated income over the length of the agreement.
Income TD: The total calculated posted income to-date, excluding any advance rentals.
Rentals TD: The total rental values posted to-date.
Finance Reserve: Total value of the calculated finance reserve.
Finance TD: Value of finance repayments posted to-date.
Balance: A calculated field. The balance displayed is the sum of the total income minus a total of the calculated budgets.
Note: The system can be configured to permit the starting of agreements that do not balance. In this case the balancing figure is viewable here but can be corrected by editing the financial budgets to achieve the desired agreement balance.
P11D: The P11D value of the vehicle.
Capital Cost: The quoted capital cost of the vehicle.
Capital Cost: The actual capital cost of the vehicle and additional costs after the invoice for the vehicle has been captured for the agreement (taking account of any invoiced adjustments).
Residual Value: The gross residual value of the vehicle at the end of the agreement.
Internal RV: Used in conjunction with the Contract RV field below in the automatic adjustment to depreciation on changing the asset residual value function.
Certain Kompact customers require the ability to store two residual values: the Internal RV is used for the the lease income and contract depreciation calculations whilst the Contract RV is used for the customer rental finance calculation. No additional setup of background tables is required to use this functionality other than setting the Edit RV checkbox in User Permissions.
The Internal RV value may be edited once (or more dependent upon how the Edit RV flag is set up within their User Permissions file) as required before the contract is started and becomes Live. After the contract has been started, this value cannot be edited. The Contract RV records the residual value used at the quotation stage and cannot be edited after the data from the Fleet quotation has populated the Kompact contract.
If this field is edited a pop-up form displays the message: Adjust asset depreciation charge and save agreement?. Selecting the Yes command button results in a change to the internal RV value and the Lease Income and Contract Depn values in the Postings Tab. This change of values is recorded as an audited event and both the original and new values are audited.
Contract RV: Used in conjunction with the Internal RV field below in the automatic adjustment to depreciation on changing the asset residual value function.
Certain Kompact customers require the ability to store two residual values: the Internal RV is used for the the lease income and contract depreciation calculations whilst the Contract RV is used for the customer rental finance calculation. No additional setup of background tables is required to use this functionality other than setting the Edit RV checkbox in User Permissions.
The Internal RV value may be edited once (or more dependent upon how the Edit RV flag is set up within their User Permissions file) as required before the contract is started and becomes Live. After the contract has been started, this value cannot be edited. The Contract RV , however, records the residual value used at the quotation stage and cannot be edited after the data from the Fleet quotation has populated the Kompact contract.
Current Value: The current written down value of the vehicle.
This is updated after budget postings have been made; this value is a calculation of the Actual Capital Cost less all posted depreciation.
Buy-back Price: An updateable field used for information purposes only. Displays a buy-back price captured for the agreement.
Orig Capital Cost: The initial purchase price of the vehicle.
Budget and Actuals Grid
This table provides a breakdown of the Budget costs for each of the default Product Options for the selected Product Type chosen in the quotation/agreement.
Description: The budget description e.g. Maintenance.
Budget: The total budget value over the period of the agreement. A grand total is displayed to the bottom of the column.
Budget TD: The budget values that have been posted to the budget line to-date. A grand total is displayed to the bottom of the column.
Actual TD: The actual current spend posted to the budget line to-date. A grand total is displayed to the bottom of the column.
Variance: The variance between the Budget TD value and the Actual TD cost value. A grand total is displayed to the bottom of the column.