Projected Value

The Quotes / Finance Novated Residual "Projected Value" field will be displayed if this feature is configured. It is a GST inclusive amount.

The amount shown is calculated using the best fit record found in the table.

The Months and Kms of the selected record are displayed next to the field name like this (Months - Kms). E.g. (60 - 80000).

Record Selection and Calculation

Open the Novated Residual Projected Value Model file to see the calculation model in detail.

The quote's "Variant ID", "Term" and "Contract Km" are used to lookup the table for a matching record.

If a direct match cannot be found, use the same logic used on the "Look Ahead" feature where it uses ROUNDUP (CEILING) to find the next available Term/Km combination.

The setting in determines which field is used to calculate "Projected Value". This can be either averagewholesale, averageretail, goodwholesale or goodretail.

Projected Value = [field] * (1 + [adjustment]).

Example Quote Details

• [setting] = good_wholesale

• [adjustment] = 0.1

• Quotes / Contract "Term (Months)" = 13

• Quotes / Contract Contract Term = 45000

Example Record Selection Logic

• ROUNDUP 13 to next multiple of 12 = 24

• ROUNDUP 45000 to the next multiple of 10000 = 50000

• The 24/50000 record will be used

• [field] = 28455

• Projected Value = 28455 * (1 + 0.1) = 31300.50

Example Data

The calculation cannot be done if:

• Quotes / Vehicle "New or Used" = 'Used', or

• Quotes / Contract Contract Term is greater than maximum

In these cases, the field name displays as "Projected Value" and the amount shows as 0.00.

Value Source

Populate with either: averagewholesale, averageretail, goodwholesale or goodretail.

When is blank the "Projected Value" row will not be displayed.

Residual Data

If you subscribe to RedBook residual data, this information will be updated in RedBook Scheduler Job updates, otherwise you can create your own records and use Import Table Data to populate this table.

Field Name

The field "Projected Value" can be renamed. The displayed (Term-Kms) will continue to display as described.

For example, if the Screen Alias is 'Expected Future value', then you would see "Expected Future value (24-50000)" as the label.

Finance GST Claimable

GST claimable is calculated based on the linked Vehicle Type (e.g. the vehicle may be exempt from GST limits) and the maximum GST claimable. This amount can be edited in each quote.

Contract Types / Details "ITC/Residual GST Code" records whether GST is claimable and applicable for the Residual Value of a vehicle being quoted.

Visit ATO Cars and Tax for more details.

Also visit the LCT Limits page to see the current claimable gst amount that is applied here.

GST Claimable Calculation Rules

• If Contract Types / Details "ITC/Residual GST Code" = 'N' then "GST Claimable" = 0.00

• If Quotes / Vehicle "Vehicle Type" is LCT exempt, then "GST Claimable" = Quotes / Vehicle "Total On Road Price - GST"

• If Quotes / Vehicle "Vehicle Type" is not LCT exempt, then "GST Claimable" = Quotes / Vehicle "Total On Road Price - GST", but limited to the value of

Identifying Your Vehicle Types

Vehicle Type details are stored in the table and each record is tagged as either being LCT exempt or not.

To find out which vehicle types are LCT exempt in your system, export the table data for 'qtvehicletypes':

• Module: 'qt | Quotes'

• Table: 'qtvehicletypes'

If the record's is 'yes', then it is LCT exempt.

Change the Variant Profile Vehicle Type

Commercial vehicles may be exempt from LCT and you can update your variant's settings to reflect this.

Once updated, the "GST Claimable" value of new quotes for these variants will not be limited.

• Go to Setup / Reference Data → qtvariantprofiles

• Choose the "Make", "Model" etc details to find the variant you want to change

• Or enter the "Variant ID" to go straight to it

• Edit the variant record and update the "Vehicle Type" to match the lctexemptflag setting you want

• "Vehicle Type" needs to match the field

• "Data Source" needs to match the field

Amount Financed is out of Balance Alert

You may be alerted to update the Claimable GST when saving a quote.

If you see the error message, it is likely your administrator has changed the method of calculating Option GST recently. Please follow the on screen instructions to fix your quote.

Troubleshooting

Tip: Visit the main Troubleshooting page for a list of all the available problem-solving tips.

Finance Residual

The residual section of the Quotes / Finance tab changes depending on the type of lease being quoted, as different calculation methods are required.

The Novated Residual section is invoked if the Contract Type / Details "Group" is 'Novated' and the Operating Lease Residual section is invoked for all other contracts.

Novated Residual

"Residual Basis" - the default value comes from.

The table below shows the calculation used for each available "Residual Basis" and you can also see them working in the Residual calculator.

Operating Lease Residual

The operating style method displays 3rd party look ahead values and allows for variants to be adjusted against the look ahead value.

The Base Residual label may also contain additional text e.g. Base Residual (High Km -6%). This occurs when the contract kms have exceeded the known upper limit and an additional highkmadjustment_rate has been applied.

High KM Adjustment Rate Calculation

residual_km = known upper limit for given term and contract_kms

residual_at_high_km_rate = a Global Control e.g. 2%

high_km_adjustment_rate = ceiling((contract_kms - residual_km) / 10000, 1) * residual_at_high_km_rate

Example: 6% = ceiling((90000 - 60000) / 10000, 1) * 2%

Look Ahead Value

The Look Ahead residual value is looked up from the Variant Residuals table based on the Variant, Term, and Contract Kms. The value is stored in the field called averagewholesale. A range of averagewholesale values are stored for each variant for most of the common combinations of Term and Contract Kms e.g. 12 Months / 10,000 KMs, 12 Months / 10,000 Kms, 12 Months / 30,000 Kms etc.

If an exact match on Term and Contract Kms is not found then a best fit approach is used. First the closest Term is found either equal to or greater than the actual Term. Then for that Term, the closest Contract Kms is found that is either equal to or greater than the actual Contract Kms. If no match is found then the Look Ahead value is set to zero.

Variant Adjustment Modifiers

Other values that modify the outcome are:

• Plate Year (if not the current year, then the number of years is added to the Term)

• Odometer (if used or demonstrator, added to Contract Kms)

Country Code Alternate Calculation

When calculating the variant adjustment dollar effect the gbcontrol countrycode invokes an alternate calculation of residual value for New Zealand (NZ).

The standard calculation is Redbook averagewholesale minus (listprice * Residualadjustmentrate).

The alternative method for NZ is Redbook averagewholesale minus (averagewholesale * Residualadjustmentrate).

It is possible to use a custom calculation of the Operating Lease Residual based on the variant Average Wholesale values stored in the table qtvariantprofiles. Contact your Catch-e Account Manager if you would like us to set-up your custom Residual calculation.

Residual Basis Percentage

This can be either 'On Road Price', or 'List Price Gross'.

Open the Residual Percentage Basis calculator to see this calculation.

The Residual Basis percentages are stored as and when the Operating Lease Residual calculations are used.

Lock Residual

The "Lock Residual" tick box allows a residual value to be locked. It can be manually checked ON or OFF at any time, but is automatically checked ON in the following cases:

All Lease Types

• The Quote / Finance "Residual Inc GST" field is overridden

• The Quote / Finance "Lock Lease Rate" is checked on

Novated Leases Only

• The Quote / Finance "Residual Rate" is overridden

Non-Novated Leases Only

• The Quote / Finance "Usage Adjustment" is overridden

• The Quote / Finance "Variant Adjustment" is overridden

Automatic Lock OFF

There are some cases when the Residual must be re-calculated so the "Lock" Residual checkbox is automatically checked OFF:

All Leases Types

• The Quote / Contract "Term" field is overridden

• The Quote / Contract "Contract KMs" field is overridden

• The Quote / Vehicle "Variant" field is overridden

• On the new Quote created when using the Copy button

Novated Leases Only

• The Quote / Finance "Residual Basis" is overridden