Quote Finance & Fees: Finance — Financier

Finance calculations, rates, commissions, and fee configuration

Financier

Financier (Lookup) — When creating new quotes, Quotes / Finance "Financier" will be populated in the following preference order:

If Clients / Quote Defaults "Financier" is populated, use this financier.
If Contract Types / Details "Quote Financier" is populated, use this financier.
Lookup or directly enter a financier.

When editing an existing quote, the Financier will be updated using the logic above when:

Client Code is updated
Contract Type is updated

Visit the Financier page for complete set-up details. If configured, the "Apply" button will be enabled once the "Financier" field is populated. Use this to pass a credit application directly into your financier's credit software.

Finance Type (Drop List) — Choose the finance type that is applicable to your quote. It is an optional field for all financiers except for your Maclease Partner. Maclease finance applications will not work without this selection. You can create alternative lists for other financiers. Visit Finance Type for more information on how to configure or manage these lists.

Advance / Arrears (Drop List) — This field is populated based on the following rules, but it can be edited if required:

If Reference Data → qtfinancierpostingmapdefaults contains a record for the selected Financier / Contract Type combination, that record's value for "Advance / Arrears" is used
otherwise Clients / Quote Defaults "Advance/Arrears" is used if populated
otherwise 'Advance'

Months in Arrears (Num) — As per above this may increase the lease interest costs.

Months Deferred (Num) — If entered, the number of finance payments to be made will be reduced by this number. E.g "Term" = 36, "Months Deferred" = 2. Finance payments will be 34. Depending on how your system is configured, lease budgets may also be reduced by this number. This will spread the total budgets for the quote over the reduced number of billings that will be required.

The value of this field will default as follows:

If populated, Supplier / Financier "Periods Deferred" is applied
If populated, Clients / Contract Defaults "Periods Deferred" is applied
Otherwise, set to 0

Go to Months Deferred for more details on how your options for configuring this feature. Refer also to Deferred Payments for a discussion on this workflow. If the quote is accepted, the value of "Months Deferred" is copied into Contracts / Billing "Periods Deferred".

Finance Details

Field	Type	Description
Base Rate	% (4dp)	This is populated with a base interest rate for the quote. It can be edited to 4 decimal places. For new Quotes: Base Rate defaults from the most recent matching record in Setup / Reference Data → fmfinancierrates. If no matching record is found in the fmfinancierrates table, then Setup / Reference Data → gbcontrols "interestbaserate" is used. When Editing existing Quotes: The pre-existing Base Rate is retained unless the "Financier" and/or "Term" and/or "Effective Date" are changed. If one of these are changed, the Base Rate again defaults from the most recent matching record in Setup / Reference Data → fmfinancierrates. If no matching record is found in the fmfinancierrates table, then Setup / Reference Data → gbcontrols "interestbaserate" is used.
Client Margin	Number	Display the value of the interest generated by the Client Margin %. A margin will calculate automatically if you have stored default rates. Open the Client Margin.xlsx file to see a simple example of the calculation. If configured, your system will prevent negative amounts from being entered in this field.
Client Margin	% (2dp)	If you want to add a margin to the finance, enter the rate here, or it can populate from a default entry. The default rate fields and preference order are shown below: Clients / Financier "Margin Rate", Setup / Reference Data → gbcontrols "interestmarginrate". If a default rate is stored and you update a client or financier on a quote, the "Client Margin" rate and amount will be re-calculated.
Financier Rate	% (4dp)	Displays the Base Rate and Client Margin added together. This field may be updated using the Refresh Base Rate button.
Vehicle On Road	Num
Deposit Gross	Num	Enter the value of a deposit.
Deposit GST	Num	Enter the GST of a deposit. The GST will calculate automatically if the Global Control gstapplyondepositflag is set to "yes" (this is the default setting). If it is set to "no", the GST will show as zero, unless entered. "Deposit GST" does not affect the calculation of "GST Claimable" and assumes the Driver cannot claim an input tax credit. "GST Claimable" can be adjusted manually if this is not the case.
Deposit Net	Num	Displays the net value of the deposit (Gross-GST). The deposit is assumed to be non refundable and the Net amount reduces the "Depreciable Amount" and the "Amount Financed".
Trade in Registration	Text	Enter the Registration Number of a trade in vehicle. This field name can be relabelled.
Trade in Description	Text	Enter a description of a trade in vehicle. This field can be renamed, visit Field Names for more details.
Trade in Gross	Num	Enter the gross value of a trade in vehicle.
Trade in GST	Num	Enter the GST of a trade in. The GST will calculate automatically if the Global Control gstapplyontradeinflag is set to "yes" (this is the default setting). If it is set to "no", the GST will show as zero, unless entered. "Trade in GST" does not affect the calculation of "GST Claimable".
Trade in Net	Num	Displays the net value of a trade in vehicle (Gross-GST). This value does not affect the "Depreciable Amount" or the "Amount Financed" value.
GST Claimable	Num	GST claimable is calculated based on the vehicle type (e.g. the vehicle may be exempt from GST limits) and the maximum GST claimable. This value can be edited. Visit the GST Claimable page.
Depreciable Amount	Num	This is a read-only field that calculates "Vehicle On Road" minus "Deposit Net" minus "GST Claimable".
Total Brokerage	Num	Includes all values in the 'Broker' section.
GST on Interest	Num	If the 'GST on Finance Payment' is set to "Standard" the default calculation is used for the monthly Finance Budget GST (Quotes/Lease Finance budget GST) as a % (Global Control 'gstrate') of the rental amount. If the 'GST on Finance Payment' is set to "GST on interest" on the Contract Types:Details screen, then this will show the GST calculated on interest on the amount financed. This applies for quotations post 1/7/2012. CHP contracts prior to 01/07/2012 that have an extension are exempt from GST on interest. The Previous Lease Start Date field on the Quote Contract screen is used to determine if GST on Interest is to be calculated or not in conjunction with the quote effective date. If the 'GST on Finance Payment' is set to "Straight Line" the monthly Finance Budget GST (Quotes/Lease Finance budget GST) field calculation is based on the purchase price GST less the RV GST straight lined over the term of the deal. This setting is for New Zealand Finance Lease Contracts. See attached spreadsheet for detailed calculation. NOTE: When 'GST on Finance Payment' is set to "Straight Line", the Global Control 'totalleasegstcalc_flag' must be set to "no" as the calculations are incompatible.
Lessee Rate	Num	This field is the rate of interest required to fund the deal without disclosing the brokerage, i.e. the interest being effectively charged based on the depreciable amount rather than the financed amount. This is normally a calculated field, using existing quote information. There are numerous calculation variations, visit the Lessee Rate page for full details of the available calculations and configuration options. This field may be updated using the Refresh Base Rate button.
Luxury Car Charge	Num	Luxury Car Charge is calculated and populated here if applicable. It is often used in novated quotes. The calculated amount can be edited, but it will re-calculate if a change to the quote affects this calculation, E.g. the "Total On Road Price" changes. Visit the Luxury Car Charge page for full details of this function. By default, this field can only be edited by 'admin' users. This field is role restricted, so other roles can be given access if required.

Broker

Broker (Text) — Enter or lookup a broker to add to your quote. If the selected financier has a linked broker, this will default into quotes when the financier is added or changed. This field may be role restricted. Visit the Broker page for more information about this feature and set-up details.

Broker Rate (% (4dp)) — Enter a rate for your selected broker. Rates can be stored for each broker. Stored rates will default into your quote when the broker has been selected. This field may be role restricted. Visit the Broker page for set-up details.

Broker Fee (Num) — The fee is calculated based on the rate entered above but can be over-ridden. If over-ridden the broker rate above is recalculated to match the entered fee. This field may be role restricted.

Commission Rate (% (4dp)) — The system can be set-up to return calculated values for the commission rate and fee. These are triggered when Include Commission flag is checked. These values can be edited but other changes to the quote can trigger the commission fields to recalculate. In particular: Effective Date, Contract Type, Term (Months), Client Code or Financier. If the client has an "Agreed Lessee Rate" set the commission rate and fee are forced to change to enable the "Agreed Lessee Rate" to be matched. Visit both the Lessee Rate and the Commission pages to understand their set-up as these fields affect each other. If the Include Commission checkbox has been unchecked after a Quote with Commission included has been saved, editing and saving the Quote will reset the Commission Rate and Commission Fee to $0.00.

Commission Fee (Number) — The commission fee results from the calculations described in "Commission Rate" above. This field may be updated via the Refresh Base Rate or RefreshQuoteBaseRate feature.

Establishment/Admin Fee (Number) — A fee charged by the financier may be included here. Please see Establishment Fee page for full calculation details.

Additional Broker Fees and Charges

Field	Type	Description
Originator Fee	Number	An Originator Fee amount can be included and interfaced to Financiers as required. The amount can be set to default in for various Financier/Contract Type combinations. Access to this field can be role restricted. The data from the quote is updated to the field if Accepted or Settled. When using the Maclease Partner Interface use the GST inclusive value of your Originator Fee.
Extended Warranty	Number	Used to enter an extended warranty cost if this is funded into the financed amount. If the quote's "Type Code" is changed, and the new "Type Code" does not have an Extended Warranty (EW) accrual, the profile will be un-checked and the values removed. This value is copied into the Contracts / Finance "Extended Warranty Collected" field when a quote is Accepted or Settled. Visit the Extended Warranty page for more details.
REVS / PPSR	Number	You can include an encumbrance fee in the Finance. This can be set-up to calculate automatically go to REVS for details. This calculated amount can be set to default in or be disregarded for various Financier / Contract Type combinations.
Mortgage Duty	Number	Mortgage duty applies in NSW for certain finance products, e.g. a Consumer Loan. Mortgage Duty is a read-only field. Open the Mortgage Duty spreadsheet to see the full calculation and logic used. This calculated amount can be set to default in or be disregarded for various Financier/Contract Type combinations. Contact Catch-e support if you want to use this calculation.
Fuel On Delivery	Number	This may be included and funded into the financed amount instead of charged later as a separate fee. This field name can be re-labelled.
Delivery Fee	Number
Other Brokerage	Number	Any other brokerage amount to be included. An amount can be defaulted from the Global Controls table, field: qt.novatedotherbrokerage. This field name can be renamed.
Gap Insurance	Number	Gap Insurance is sometimes offered within a comprehensive insurance policy. The "Gap Insurance" checkbox shown on Quotes/Contract can be used to indicate that this is the case, or it can be a priced product here. The check box and this value field work in conjunction with each other. If Gap Insurance is provided (priced or otherwise), the check box will be turned on. Visit the Gap Insurance page for full details of this feature. This value is copied into the Contracts/Finance tab when a quote is Accepted or Settled. This field can be renamed.
Redundancy Insurance	Number	The value of redundancy insurance is calculated if "Redundancy Insurance" is checked on in the Quotes / Contract tab or the Quotes / Lease tab. You can enter or edit this value here or you can enter a percentage in the Quotes / Lease tab. Use the lock check box to hold the amount constant, regardless of other changes you make to the quote. Visit Redundancy Insurance for complete details of this feature.
Walkaway	Number	If Walkaway product is being used, the calculated value is shown here. Go to the inclusions section of Quotes/Lease to select this insurance product. This value is copied into the Contracts/Finance tab when a quote is Accepted or Settled. This field name can be re-labelled.
Comprehensive Insurance	Number	This amount defaults in as the 1st year's insurance amount to be funded when "Fund 1st Year?" is checked on the Quotes / Lease tab. The "Fund 1st Year?" checkbox default is a Contract Type setting.
Tyre and Rim Insurance	Number	This field usually reflects the plan chosen in Quotes / Lease tab. You can manually change this value. The field can be renamed. Go to the Tyre and Rim Insurance page for more details about this product.
Small Damage Repairs	Number	If selected, the Small Damage Repairs "Premium" will populate into this field if the Small Damage Repairs product is being financed. Go to the Small Damage Repairs page for full details. This field name can be renamed.
Loan Termination Insurance	Number	A Loan Termination Insurance (LTI) premium will calculate automatically if set-up to do so. Refer to Loan Termination Insurance for full details.
Total Inclusion Plans	Number	If you have any Lease Inclusion Plan products in use, this field will display the total value of those products. The Lease Inclusion Plan products are selected in the Quotes / Lease tab. This value becomes part of the quote's "Total Brokerage" and "Amount Financed" values. This field name can be renamed.
Early Termination Fee	Number	This is only included and funded into the Financed Amount and Total Brokerage where the Contract Type Group is 'Novated'.
Budgets Financed	Number	All Budgets Financed are totalled here. If selected quotes prepared will 'capitalise' any budget amounts (all running costs and fees but not Finance payments).

Monthly Payments

Finance Exc GST (Number) — Monthly net finance payment. The Finance budget calculation is affected by a number of variables. Please open and view the Quote Finance Calculation for full details of these. This field may be updated via the Refresh Base Rate or RefreshQuoteBaseRate feature.

CSD (Number) — Contract Stamp Duty (now phased out by Australian States)

Fee (Number) — This field displays the monthly administration fee charged by your financier. This will be added to the finance amount calculation and updates the 'FIN' budget also. If the financier is Macquarie Leasing or Angle Auto Finance, the amount entered must be GST exclusive. This will ensure that a successful application is made via the respective Financier Interface. Visit the following process page to create or update the default fee for your financiers: Create default quote fees for a Financier by Contract Type.

Novated Residual

Residual Rate (% (8dp)) — The default rate is calculated and populated here. You can edit the rate and the values below will update accordingly. The default rates are stored in the atoresidualrates control. This field can be role restricted.

Residual Basis (List) — A default entry populates here, and can be updated if required. Choose from 'Amount Financed', 'Depreciable Amount', 'Fbt Value', 'Net Vehicle Cost' and 'On Road Price'. The default entry is stored in the novatedresidualbasis_default control which can be updated. This field can be role restricted.

Residual Exc GST (Number) — Displays the net value. This field may be updated using the Refresh Base Rate button. This field can be role restricted.

Residual GST (Number) — Displays the gst value. This field may be updated using the Refresh Base Rate button. This field can be role restricted.

Residual Inc GST (Number) — Displays the gross residual value. This can be edited, which will re-calculate the net and gst values for residual. This field may be updated using the Refresh Base Rate button. This field can be role restricted.

Residual Inc GST Lock (Check box) — Select this if you want to lock the Residual Value, regardless of changes to the quote settings. This is checked automatically if Quotes / Lease "Lock Lease Rate" is checked, but can then be edited. It is also checked automatically if the quote is accepted and the = 'yes'. This field can be role restricted.

Projected Value (Number) — This field displays a projected value (GST incl) for this vehicle at lease end. It is only be displayed if the quote is for a novated lease and the feature is set-up in your system. Visit the Projected Value page for full details.