This set-up form is accessed via Miscellaneous Options / Finance Management / Finance Types and is used to create, edit and delete Finance Types.
The form is split into three areas. These are the Titlebar, the Finance Type Dialogue Box and the column of Command Buttons down the right-hand side of the form.
In addition to displaying the form name the Title Bar provides a number of useful buttons.
To create a new finance type select the Create Command Button.
To view or amend an existing finance type use the following procedure:
The cursor is located in the Finance Type Code field prompting selection of a finance type code/description for the purposes of editing an existing finance type. A single-left-click of the ellipsis (...) box to the right of this field will display a Finance Type List Box from which the appropriate finance type is selected. This code has a matching finance description and attached finance calculation method (e.g. DAB, RAB, etc). A double-left-click selects and confirms the required finance type (alternatively, single-left-click and select the OKcommand button).
The Main Details Tab displays a number of details relating to the selected Finance Type that are as follows:
- Finance Type Name
Displays a free-format textual description for the selected Finance Type e.g. FinanceCompany 1 - 8%
- Finance Calculation Method
There are currently two calculation methods from which to select. A single-click of the down-arrow to the right of this field enables selection from the current available options:
- DAB Derived A&B Rates
- RAB Factors from Tables
- Banding Basis
There is currently only one banding basis from which to select. A single-click of the down-arrow to the right of this field enables selection of this option:
- C Capital Banding
- Set Payment Profile
A checkbox which, if ticked (selected with the mouse), denotes that the payment profile used within the quotations form may be edited.
- Restrict Profile By Period
A checkbox which, if ticked (selected with the mouse), denotes that of all the corresponding Finance Profiles created for a Finance Type only those with a period matching the selected period within a quotation are displayed within the primary Quotations form.
- Restrict Profile By Frequency
A checkbox which, if ticked (selected with the mouse), denotes that of all the corresponding Finance Profiles created for a Finance Type only those with a frequency matching the selected frequency within a quotation are displayed within the primary Quotations form.
- Calculate APR in End Mode
A checkbox which, if ticked (selected with the mouse), denotes that in a three year contract, for example, the Balloon is taken at the end of month thirty-six and not the beginning of month thirty-seven. The difference in timing creates a subtle difference in the calculation of the APR figure.
- In Use
A checkbox which, if ticked, denotes that the current finance company is allowed for use within quotations.
- Use Funding Rate
This checkbox is used in conjucntion with the Profit flag value of F to denote Finance Profit held within the Calculation Details Tab within System Parameters.
If this checkbox and the Use Margin for Quoted Rate checkbox below is ticked then the system displays the field within the Finance Profile form. The Funding rate field may be used to enter an actual funding rate. The difference between the actual Funding rate and Finance Rate(1) is then calculated as being the profit/margin.
- Use Margin for Quoted Rate
This option only becomes available for use if the Use Funding Rate checkbox is selected. Denotes that the margin between the finance rate and funding rate is calculated as being the profit margin.
A number of command buttons are available. Some buttons are context sensitive and are greyed-out and only become available dependent upon the particular process that is being accessed. The full list of command buttons is as follows:
Exits the Finance Type form and returns to the Finance Management menu.
Provides online access to a context sensitive Help form.
Enables the creation of an additional Finance Type. Mutually exclusive option buttons allow this to be done in one of the two following ways:
- Blank
Used if a new Finance Type is to be set-up without utilising existing criteria.
- Copy
Copies the values within an existing "nearest match" Finance Type so that only required values need be edited.
Provides the facility for editing the set-up options of the current Finance Type record. No edits can be made to a record until the Amend button has been selected.
Deletes the currently selected Finance Type .
On first accessing the Finance Type form this command button is greyed-out. Following selection of the Amend button the Confirm option then becomes available to enable any edits to be confirmed.
On first accessing the Finance Type form this command button is greyed-out. Following selection of the Amend button the Cancel option then becomes available to enable any edits to be cancelled.
This is not a command button. This box is a way of displaying messages with regard to the status of the current record e.g. "Record Secured OK"
Selection of this button displays a further form that provides an Ad-hoc Report Generator for the creation of quick query reports to form..
Selection of this button displays a further form that provides an itemised display of all the selection criteria for the current Finance Type .