Finance Tab

Customer area

Fin. Ref.

This can be anything, however it is mostly used for contract numbers provided from the finance company.

Charge Type

Billed in Arrears

Whether the customer is billed after being provided the service.

Billed in Advance

Whether the customer is billed prior to providing the service

Total Contracted (ex Tax)

This is the overall financed amount of a contract.

Periodic Amount (ex Tax)

The amount that is paid per period, whether monthly, quarterly, etc.

Periodic Billing Cycles

Frequency of billing, based on below.

Contract Start Date

Start date of the contract.

Term in Months

The number of months the contract will run for e.g 12, 24, 36 months, etc.

Contract Expiry Date

This will auto-populate from the contract start date and the term in months

Residual Amount

Residual refers to the amount of money a customer would be obliged to pay if they choose to keep the copiers at the end of the finance term. It can also be referred to as a Balloon. Typically, the residual or balloon is on a lease type deal and not a rent.

Finance area

Finance

The cardcode of the finance company.

Charge Type

As per Charge Type above in customer area.

Advanced

The choices here are based on the Billed field billing cycle on the contract.

NPV (ex Tax)

NPV is a common figure used by finance companies. For example,  they calculate how much the amount loaned will be worth at the end, ie.  how much profit is on that loan. They then compare that amount to how much return they can obtain if they place the amount into the share market. If the share market offers a better return, there is no point performing the finance deal.

Total Funded (ex Tax)

The total funded amount of the contract, ex tax.

Periodic Amount (ex Tax)

The amount that is paid per period, whether monthly, quarterly, etc.

Periodic Payment Cycles

Frequency of payment based on below:

Deal Options

Inertia

This is set up in the Deal type in Tools > Setups. This is where to setup inertia options.

End of Term

This is set up in the Deal type in Tools > Setups. This is were to enter the end of term options.

Originator

Originator

The cardcode of the originator. The originator is the source, the one who brings the asset or transaction into existence, as distinct from those who later service, buy, insure, or invest in it.

Charge Type

Choose either billed in arrears or in advance.

Total Amount (ex Tax)

The total funded amount of the contract, ex tax.

Periodic Amount (ex Tax)

The amount that is paid per period, whether monthly, quarterly, etc.

Originator Payment Cycles

Frequency of payment based on below: