Contract Payout & Termination: Terminate

Ending contracts, payouts, and terminations

Terminate

The terminate screen is used to record information about the termination of the vehicle.

Contracts due for termination are best viewed and managed using the Due Off Management screen where many contracts can be edited and viewed at once.

Field Descriptions

Screen Name	Type	Description
Contract Status	List	Choose the status of the contract from the list box. A default scheduler job also updates contract statuses based on various parameters, but this may be customised by your organisation. Go to the Contract Status page for details of the features and set-up of this field. Access to this field can be role restricted.
Contract Sub Status	List	Choose a Sub Status if additional information on the contract status is needed. By default, this field is configured to mirror the Order Status or Due Off Status of the contract when in 'Order' or 'Due Off' status respectively. Go to the Contract Status page for details of the features and set-up of this field. Access to this field can be role restricted.
Due Off Status	List	Choose the appropriate termination status for this contract. It can be configured to auto-update Contract Status on selection of certain statuses. E.g. Change due off status to 'Extended' and update contract status back to 'Active'. If the status in use becomes inactive, it will be silently removed when the record is next edited. Access to this field can be role restricted.
Due Off Status Date	Date	Record the date of the Due Off Status. Access to this field can be role restricted.
Replacement Order ID	Num	Use the search function or enter the Contract ID of the order that replaces this contract. This field becomes a hyperlink to the replacing contract's Order screen and also appears on the Due Off Report and is displayed in Red in the Contract Header area.
Sale Method	List	Select the Sale Method. This field is also available in the Sale Management / Detail tab. This field can be renamed. Access to this field can be role restricted.
Sale Status	Display	Displays the Sale Management / Detail "Sale Status".
Termination Notes	Text	Free unlimited text for recording notes
Due Off Quote Manager	List	Select the desired User Login to record who is responsible for the termination process for this contract. You can use this field to filter on the Due Off Management screen or the Due Off Report.

Save

If you update "Contract Status" to 'Suspended' or 'Terminated' and the corresponding date has not been entered on the Contracts / Contract tab, you will be alerted. You cannot save until the matching "Suspend Date" or "Terminated" field has been entered. Enter the appropriate date in the alert box and save. If the "Suspend Date" is blank and a "Terminated" date is entered, this will be copied back into the "Suspend Date" field.

Contract Terminations

The end of a contract, the lease needs to be reconciled.

If the contract is a novated lease, the shortfall is invoiced or refunded to the employer to pass back through their payroll to the driver.

Each of our client's will have a different process depending on the products they offer and how they are managed.

Recommended steps to close down a contract

Obtain a closing odometer reading from the driver. You can do this by either:
- Record an "Odo" transaction in the Maintenance screen from some other driver documentation.
Enter the "Suspend Date". Once a contract has a suspend date, it will no longer invoice or appear on reports (mostly, depending on the report requirements).
Check for and cancel any active fuel cards attached to contract.

Recommended steps to close down a Novated contract

Make sure all necessary client invoicing and contract expenses have been entered and posted.
Print the final Drivers Report and use the 'Whole of Life' feature to ensure all transactions are included.
Create a new billing record to enter the variance amounts.
If the final balance is a surplus (refund to the client), the inserted billing should be a credit (i.e. negative values).
If the final balance is a shortfall (invoice to the client), the billing will be a debit.
Check and post the billing (don't forget to un-suspend the contract for this step).
When the Driver Report is reprinted, it should show a Budget / Actual Variance of 0.

Sale Management

The Sale Management module enables you to process Sale and Payout transactions for contracts.

Search Screen

The search screen defaults to contracts with an Active sales status in the current and previous months (based on system date). A CSV report is available and the screen allows editing of many contracts at once based on the header filters.

Detail Screen

The Detail screen allows for further information to be updated per contract

Payout Screen

The Payout Screen is used to process the end of lease residual payment to the financier and or the early payout to the financier. The screen allows the user to record the residual payment and a final lease payment and create a Recipient Created Tax Invoice (RCTI) for emailing or printing as a PDF.

Sale Screen

The Sale screen allows the user to generate PDF invoices for the sale of the vehicle. The invoice can be emailed by the system to the purchaser.

Sale Management Search

The Sale Management search screen defaults to contracts with an Active sales status in the current and previous months (based on system date).

Sales statuses are stored in the fmsalestatuses table and can be defined as active or inactive (e.g. 'For Sale' may be active while 'Sold' may be set as inactive as the process is complete). Contracts default to a status of 'blank' and need to be set to a relevant status for searching on this screen.

Filters

Channel Code (Lookup) - Enter or look up the Channel Code you want to filter the results by. Where this channel is stored in Clients / MLA "Channel", linked contracts will be shown.
Group Code (Text) - Select by client group
Client Code (Text) - Select by individual client.
Sold To (Lookup) - Select by Individual Contract
Contract ID (Num) - Enter a contract or use the lookup to search for a particular contract.
Reg Number (Text) - Enter the required "Reg Number".
State (Drop List)
Group (Drop List) - Select by Contract Type "Group"
Type (Drop List) - Select by Contract Type
Sale Status (Drop List) - Filter by "Sales Status" which is stored on the Contracts / Terminate tab. The default setting is "--Active--" which shows all contracts ending within the filtered date range. These statuses can be configured in the fmsalestatuses table. Only statuses with an active status_flag are available for selection.
End Date From (Date) - "Contract Start"
End Date To (Date) - "Contract End"
Sale Method (Drop List) - Select the required sale method
(Button) - Click to execute your chosen filtering. If the button is greyed out, this means the current filtering has been executed.

Columns

Contract (Num) - Enter a contract or use the lookup to search for a particular contract. This field is also a hyperlink that navigates you to the Sale Management / Detail tab where further details for the individual contract are displayed and available for editing.
Client (Text) - Select by individual client. Contains a tooltip display of the client's Name, Contact, Phone and Email.
State (Text) - Displays the state
Reg No (Text) - Reg number of the Contract Contains a tooltip display of the driver's name. The driver's name is also a hyperlink to the Drivers / Contact tab.
Type (Text) - Displays the Contract Type.
Description (Text) - The vehicle description Contains a tooltip display of the Description, Term, Contract KMs
End Date (Number) - Displays contract end date
Suspended (Suspended) - Shows the suspended date. Enter the suspended date when editing. Contains a hyperlink to the View Edit History pop-up that displays only the records for sale fields.
Terminated (Date) - Displays the terminated date of a contract. Enter the terminated date when editing.
Status (Drop List) - Display sale status (e.g. Sale Pending, Sold etc). Pick from the list when editing.
Method (Drop List) - Shows complete field if it is truncated by ellipses (e.g. Auction, Tender by location etc). Pick from the list when editing.
Sold Date (Date) - Displays sold date. Enter the sold date when editing. Contains a tooltip to display Invoice No (not implemented).
Sold To (Text) - Displays the "Client Code" of the client the vehicle was sold to. Enter the client code when editing. Contains a tooltip display of the Name, Contact, Phone and Email of the "Sold To" client.
Sale Price (Number) - Displays the net sale price Contains a tooltip display of Net, GST and Gross.
Charges (Number) - Displays the charges
Profit (Number) - Displays the profit amount. Contains a tooltip display of Payout Amount and Residual Amount

Action Buttons

Button	Description
View	(No description provided)
Print CSV	Print a CSV of the filtered search results.
Edit	Click to edit records in bulk on this screen.
Save	When you have finished editing the record, click to save.
Cancel	Click to discard your current changes.

Sale Management Detail

The Detail screen per contract allows for further information to be updated including:

Column One

Suspend Date (Date)
Terminated (Date)
End Km Date (Date)
End Km (Num) - (updates the contract and maintenance)
Status Date (Date)
Sale Status (List) - Select the Sale Status. This field is also located in Contracts / Terminate as a display-only field.
Sale Method (List) - Select the Sale Method. This field can also be updated in Contracts / Terminate.
Sold To (Lookup) - Enter or lookup the "Client Code" of the client the vehicle was sold to. This can also be entered on the Sale Management / Sale tab and the Contracts / Contract tab.
Sold Date (Date) - (Sale Screen also updates this field) Depreciation calculations will cease when a Sold Date is entered
Forecast Sales Value (Num)
Reserve Price Net (Num)
Reserve Price GST (Num)
Reserve Price Inc GST (Num) - (display only)
Sale Price (Num) - (includes GST - Note this field is not editable on this screen if a Sale invoice has been initiated).
GST (Num)
Net Price (Num)
Purchaser Reference (Text) - Sale screen also updates this field
Purchase Order (Text) - Sale screen also updates this field
Sale Comment (Text)

Column Two

Residual Value (Num)
GST (Num)
Residual Inc. GST (Num) - (display only)
Financier (Text)
Reference (Text)
REVS / PPSR Number (Text)
Payout Date (Date)
Lease Payment (Num)
Payout Value (Num)
GST (Num)
Payout Inc. GST (Num)
Payout Notes (Text)
Termination Notes (Text) - Free unlimited text for recording notes

Column Three

Last Billing Date (Date)
Next Billing Date (Date)

Card Services

Card Number (Num) - Lists the cards linked to this contract. The card number hyperlinks to Cards / Card Details and if you hover over the number, further details are displayed. The cards are listed in the following order; Cards with an 'active' status and no deactivated date are shown first in "Card ID" order (lowest number first). Cards with an 'active' status that have a deactivated date are then shown in "Deactivated" order (most recent date first). Cards with an 'inactive' status and no deactivated date are shown first in "Card ID" order (lowest number first). Cards with an 'inactive' status that have a deactivated date are then shown in "Deactivated" order (most recent date first).
Deactivated (Date) - You can enter deactivated dates here for listed cards. This updates the Cards / Card Details field "Date Inactivated" for the linked record.

Action Buttons

Button	Description
Print Report	Print the chosen report.
Edit	Click to edit the record.
Save	When you have finished editing the record, click to save. Saving triggers a GST check which validates the GST of the "Residual Price Net" and "Residual Value". The validation checks if the GST is within the tolerance set in gst_tolerance). If the validation fails, it gives a warning message for the particular field that needs to be corrected.
Cancel	Cancel if you don't want to make your editing changes.

Output Options

Form Name	Description
Auction Form	Use this to inform auction houses or other purchasers of the vehicle's sale information. You can update this form from Setup / Import/Export Files.
Inspection Report	Use this to complete a final inspection of the vehicle on its return as part of the end of lease process. You can update this form from Setup / Import/Export Files.

Sale Management Payout

The Payout Screen is used to process the end of lease residual payment to the financier and or the early payout to the financier. The screen allows the user to record the residual payment and a final lease payment. Other classes can be entered if they are allowed by the Contract Type - Payout screen.

The screen allows the user to create a Recipient Created Tax Invoice (RCTI) for emailing or printing as a PDF if the "Use RCTIs for Payout Invoices" is ticked at Clients/MLA level. The transactions created are included in the General Ledger - Purchase Ledger export file.

Field Descriptions

Batch number (system generated unique number).
Payout to (defaults to the contract's financier). Supplier code 'INTERNAL' cannot be used here.
Payout Date (defaults to system date).
Payout Notes (unlimited text notes - this is the same field as found on the Contract Finance screen)
Class (class code - defaults to 'PAY'). Note that where the class codes 'PAY' is included in a Sale Invoice the value is displayed in the Contract / Finance screen fields 'Payout Value' and 'GST'. Should you also have a posting class 'FPPAY' setup and used in a Sale Invoice the sum of values for 'PAY' and 'FPPAY' are displayed on the Contract / Finance screen fields 'Payout Value' and 'GST'.
VMRS (defaults to 'PAY').
Description (populated by the VMRS description but editable).
Reference (first row defaults from the Finance reference on the contract).
NET
GST (applied according to the Contract Type business rule. It can, however, be over-written by the user. In such case, A tolerance check is done which is set in gst_tolerance). If the GST is out of tolerance then it gives an warning pop-up).
Total

Once saved the user can do the check process, the check process needs to go through GST Checks validation and other mandatory field entry. If checked succesfully without any error, the user can then invoice (print or email) and post the RCTI. Once posted the batch can be un-posted unless the general ledger export has occurred. Multiple batches per contract are allowed.

History Only

A transaction can be processed as History-only if required, using the 'History' button. This means the transaction will be recorded in Catch-e, but no accounting entries will be created or posted.

System Alerts

Where a Payout Invoice has been created but not posted, and the Catch-e session has either timed out or temporarily lost connectivity, the system will create a lock against the User. When the Payout screen is navigated to again, using the same browser session, an alert will appear advising of the lock, "Batch No xxxxxx is locked by user xxxxxx. Contact Catch-e support to unlock the batch if this user session has ended and not in the middle of invoicing."

Where the invoice has been created but not posted and the Catch-e session has been closed down outside normal processes and/or after the above lock has been removed, the following alert will appear on re-entry to the screen, "Payment No xxxxxx was generated but not posted. This Payment no has been removed and recorded in gbdiscardedpayment_nos." On selecting 'OK' in the alert box, the payment invoice is re-instated and the process can be executed as per normal.

Troubleshooting

If you see this message:

Non Zero Payout batch. At least one Payout line must be non zero!

Check the Contract Types:Payout tab. Make sure the posting class 'PAY' exists.