Finance Tab

The Finance tab is purely a place-holder to store information within Jim2 contracts. Even though reports appear in the reports area, there are currently no reports available for this section.

The Finance tab records information of the three money flows in a financed equipment deal, all against the one contract.

What your end customer pays you: contracted total, periodic amount, billing cycle, term, and the residual (balloon) they will pay to keep the equipment at the end of term.

The finance company that funded the deal, recorded by card code. This captures the total funded, NPV, and the payment cycle back to them.

The party that brought the deal into existence, also by card code, as distinct from anyone who later services or funds it. Captures what they're paid and on what cycle.

1.Deal Types are set up by you in Tools > Setups. Give them names that match how you actually sell, for example Rental, Cost Per Copy, Lease, Outright etc

2.Deal Type is the part that is genuinely functional. You can filter contract lists by Deal, so anything you want to slice your contract base by later needs to be a Deal Type rather than a value typed into a Finance field.

3.Tick Has Finance on the Deal Type only where finance details apply. That flag controls whether the Finance tab appears at all.

4. The Finance tab will only display on master or single machines. It never shows on child machines.

5. Inertia and End of Term options are configured on the Deal Type itself, not on the contract.

Field	Explanation
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.
Charge Type	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:

The finance preview pane will only be made visible if the deal type includes finance. The finance pane will not be visible for child machines.