The Finance Agreements set-up screen is accessed via Miscellaneous Options / Default Finance Agreements and is used to create, edit and delete a default Finance Agreement. This record is used to provide default field values for the Finance Agreements menu option and as such can be used to save repetetive data entry.
The screen is split into three areas. These are the Titlebar, the Finance Agreements Dialogue Box and the column of Command Buttonsdown the right-hand side of the screen.
In addition to displaying the screen name the Title Bar provides a number of useful buttons.
To create a new finance agreement type select the Create Command Button.
To view or amend an existing finance agreement type use the following procedure:
The cursor is located in the Finance House Code field prompting selection of an existing Finance House code/name for which the agreement type is applicable. A single-left-click of the ellipsis (...) box to the right of this field displays a Finance Houses List Box from which the appropriate finance house is selected. A double-left-click selects and confirms the required finance house (alternatively, single-left-click and select the OK command button).
The cursor is now located in the Internal Reference field prompting selection of an existing internal reference number. The Internal Reference is normally the vehicle registration number. A single-left-click of the ellipsis (...) box to the right of this field displays a List Box from which the appropriate reference is selected. A double-left-click selects and confirms the required reference (alternatively, single-left-click and select the OK command button).
The Details Tab displays a number of details relating to the selected Finance Agreement, which are as follows:
- Agreement Reference
The formal reference number given by the finance house.
- Start Date
The date the finance agreement starts.
By clicking-on the down-arrow-button immediately to the right a monthly diary screen is displayed in order to assist in date entry. Selection of the < button moves to the previous month and the > button moves to the next month. Selection of Exit exits the diary screen. A double-click on the appropriate day of the month enters this date into the date field. Keying T enter today's date.
- Total Funding
The value of total funds available with the finance house. This field is only used for Block Funding.
- Allocated to Date
The value of the funds currently allocated against vehicles for this agreement.
On creation of a new agreement this field is left at zero. The system then updates the value of this field as and when funds are allocated against the finance agreement.
- Posting Type
Holds the default posting type used by the system. Determines which nominal ledger accounts postings are to be used for any Fleet agreements linked to this finance agreement. The posting type holds behind it a table to determine the nominal ledger codes used for the postings in respect of Finance, Capital, Interest and Balloon payments.
A single-left-click of the ellipsis (...) box to the right of this field displays a Posting Types List Box from which the appropriate posting type is selected. This code has a matching posting description. A double-left-click selects and confirms the required posting type (alternatively, single-left-click and select the OK command button).
- Finance Schedule
The repayment schedule to be used for the postings relating to the finance elements (for example, Month ensures monthly budget drips into the accounts).
A single-left-click of the ellipsis (...) box to the right of this field displays a Schedule Records List Box from which the appropriate finance schedule is selected. This code has a matching schedule description. These definitions are set-up within Fleet System Management / Miscellaneous Options / Posting Controls / Schedule Definitions.
A double-left-click selects and confirms the required schedule type (alternatively, single-left-click and select the OK command button).
- Capital Schedule
The repayment schedule to be used for the postings relating to the capital elements (for example, Month ensures monthly budget drips into the accounts).
A single-left-click of the ellipsis (...) box to the right of this field displays a Schedule Records List Box from which the appropriate capital schedule is selected. This code has a matching schedule description. A double-left-click selects and confirms the required schedule type (alternatively, single-left-click and select the OK command button).
- Interest Schedule
The repayment schedule to be used for the postings relating to the interest elements (for example, Month ensures monthly budget drips into the accounts).
A single-left-click of the ellipsis (...) box to the right of this field displays a Schedule Records List Box fromwhich the appropriate interest schedule is selected. This code has a matching schedule description. A double-left-click selects and confirms the required schedule type (alternatively, single-left-click and select the OK command button).
- PL Account
The Purchase Ledger Account Code for the finance house for example, F0001.
Enter the PL Account Code directly or select the ellipsis (...) button immediately to the right of this field to initiate a Supplier Accounts search. This is the account to which the system posts finance repayments.
A single-left-click of the ellipsis button displays a Supplier Accounts search form that enables selection from the current available account codes. The cursor is located in the search field. Key part or all of the required finance house address group code and select the Shortname command button. Finance House codes matching the entered criteria are displayed and, having selected the required code by highlighting with the mouse, the OK command button is used to confirm this selection and return to the Finance Agreements screen.
Alternatively, the Word Search command button may be used. This performs a word search upon the text that has been input. The following data is present in the word search index so far as marketing database is concerned:
- Company name
- Address lines 1-5
- Post code
- Four phone numbers (Home, Work, Mobile and Fax).
The Word Search command button permits a search on up to three separate words (a minimum of three and maximum of eight characters long) which can be entered to identify the company concerned. Words are only searched on stem basis, and not on a contains basis i.e. if looking for a company or companies called Forward Trust with an address in London, the operator can enter FOR in the first word and LOND in the second word, and expect the system to retrieve any matching records.
What cannot be entered are WARD and DON, as these are not the stems of the words FORWARD TRUST and LONDON. Words can be entered in any order, and the search is not case sensitive, so to find Forward Trust in London, it is acceptable to enter LON followed by FOR.
- Repayment VAT Code
The VAT code applicable to the current agreement used for fund repayment.
A single-left-click of the ellipsis (...) box to the right of this field displays a VAT Codes List Box from which the appropriate VAT rate is selected. This code has a matching VAT description. A double-left-click selects and confirms the required VAT rate (alternatively, single-left-click and select the OK command button).
Note: When a vehicles undergoes the Funds Allocation process, one of the required fields is the Internal Reference. The allocation of the Internal Reference automatically pulls through details held within the Finance Agreement Set-up screen. One of the values pulled through is the Repayment VAT Code.
It is now therefore stored on both the Finance Agreement and the Funds Allocation records and is used for the lifetime of the agreement. If an error is made while setting up the Repayment VAT Code, An Autoline consultant can assist in the re-assignment of correct codes onto existing agreements.
- Sell Vehicle
A check box which if selected indicates that the system is to raise a sales invoice to the finance house when allocating funds i.e. the vehicle is to be sold to the finance house.
- Sales Account
If the Sell Vehicle check box is selected then this field contains the sales ledger account number (of the finance house) to which the sales invoice for the vehicle is posted.
A single-left-click of the ellipsis button displays a Customer Accounts search form that enables selection from the current available account codes. The cursor is located in the search field. Key part or all of the required address group code and select the Shortname command button. Account codes matching the entered criteria are displayed and, having selected the required code by highlighting with the mouse, the OK command button is used to confirm this selection and return to the Finance Agreements screen.
A number of command buttons are available. Some buttons are context sensitive and are dimmed 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 Agreements screen and returns to the Miscellaneous Options menu.
Provides online access to a context sensitive Help screen.
Enables the creation of an additional Finance Agreements. Mutually exclusive option buttons allow this to be done in one of the two following ways:
- Blank
Used if a new Finance Agreement is to be set-up without utilising existing criteria.
- Copy
Copies the values within an existing "nearest match" Finance Agreement so that only required values need be edited.
Provides the facility for editing the set-up options of the current Finance Agreement record. No edits can be made to a record until the Amend button has been selected.
Deletes the currently selected Finance Agreement.
On first accessing the Finance Agreements screen this command button is dimmed. Following selection of the Amend button the Confirm option then becomes available to enable any edits to be confirmed.
On first accessing the Finance Agreements screen this command button is dimmed. 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 for example, "Record Secured - OK".
Selection of this button displays a further screen that provides an Ad-hoc Report Generator for the creation of quick query reports to screen.
Selection of this button displays a further screen that provides an itemised display of all the selection criteria for the current Finance Agreement.