Quotes / Finance

Field

Type

DescriptioN

[table]field

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 financer's credit software.

[qt_quotes]supplier_id_financier

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.

[qt_finance_types]finance_type

Advance / Arrears

Drop List

This field is populated based on the following rules, but it can be edited if required.
If Reference Data → qt_financier_posting_map_defaults 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'

[qt_quotes]advance_arrears

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".

[qt_quotes]periods_deferred

Base Rate Lock

checkbox

When the lock flag checkbox is checked, no other changes will update the Base Rate value.

[qt_quotes]lock_base_rate_flag

Base Rate

% (4dp)

This is populated with a base interest rate for the quote. It can be manually edited to 4 decimal places (including when Base Rate Lock is checked).
For new Quotes:
Base Rate defaults from the most recent matching record in Setup / Reference Data → fm_financier_rates.
If no matching record is found in the fm_financier_rates table, then Setup / Reference Data → gb_controls "interest_base_rate" is used.
When Editing existing Quotes:
The pre-existing Base Rate is retained unless the "Financier" &/or "Term" &/or "Effective Date" are changed and the Base Rate Lock is unchecked.
If one of these are changed, the Base Rate again defaults from the most recent matching record in Setup / Reference Data → fm_financier_rates.
If no matching record is found in the fm_financier_rates table, then Setup / Reference Data → gb_controls "interest_base_rate" is used.

[qt_quotes]base_rate

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.

[qt_quotes]client_margin_net

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 → gb_controls "interest_margin_rate"
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.

[qt_quotes]client_margin_rate

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 gst_apply_on_deposit_flag 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 calulation of "GST Claimable" and assumes the Driver cannot claim an input tax credit. "GST Claimable" can be adjusted maually 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.

[qt_quotes]trade_in_reg_no

Trade in Description

Text

Enter a description of a trade in vehicle.This field can be renamed, visit Field Names for more details.

[qt_quotes]trade_in_vehicle_description

Trade in Gross

Num

Enter the gross value of a trade in vehicle.

[qt_quotes]trade_in_amount_net+[qt_quotes]trade_in_amount_gst

Trade in GST

Num

Enter the GST of a trade in. The GST will calculate automatically if the Global Control gst_apply_on_trade_in_flag 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".

[qt_quotes]trade_in_amount_gst

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.

[qt_quotes]trade_in_amount_net

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.

[qt_quotes]claimable_gst

Depreciable Amount

Num

This is a read-only field that calculates "Vehicle On Road" - "Deposit Net" - "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 'gst_rate') 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 'total_lease_gst_calc_flag' must be set to "no" as the calculations are incompatible.

[fm_contracts]gst_on_interest.

Amount Financed

Number

Amount Financed

[qt_quotes]financed_amount

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.

[qt_quotes]lessee_rate

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.

[qt_quotes]luxury_charge

Field

Type

Description

[table]field

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.
Visit the Broker page for feature details and set-up steps.

[qt_quotes]supplier_id_broker

Broker Rate

% (4dp)

A default rate may populate here if a broker is selected and they have a stored rate.
A rate can also be entered directly into this field, or may be calculated if a "Broker Fee" is entered instead.

[qt_quotes]broker_rate

Broker Fee

Number

The fee is calculated based on "Broker Rate" above multiplied by the calculation basis amount.
If the fee is entered directly, the "Broker Rate" will be recalculated to match the entered fee.
The basis used for this calculation can be either the "Depreciable Amount", "On Road Price" or "Dealer Discount (Net)".
Open the calculation model to see this.

[qt_quotes]broker_fee

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.
Use the lock check box to hold the value constant, regardless of other changes you make to the quote. The business rules applied for "Agreed Lessee Rate" and Financier Commission Rate / Fees will override the Lock flag setting.

Visit the Commission page for the calculation details or open the commission model to see the calculation that is applied.

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.

[qt_quotes]commission_rate

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.

[qt_quotes]commission

Establishment/Admin Fee

Number

A fee charged by the financier may be included here. Please see Establishment Fee page for full calculation details.

[qt_quotes]establishment_fee

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 [fm_contracts]originator_fee if Accepted or Settled.

When using the Maclease Partner Interface use the GST inclusive value of your Originator Fee.

[qt_quotes]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.

[qt_quotes]extended_warranty

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.

[qt_quotes]revs_fee

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

Other Brokerage

Number

Any other brokerage amount to be included. An amount can be defaulted from the Global Controls table, field: qt.novated_other_brokerage. This field name can be renamed.

[qt_quotes]other_brokerage

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.

[qt_quote_walkaway]retail_price_gross

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.

[qt_quotes]comprehensive_insurance

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.

[qt_quotes]small_damage_repairs

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.

[qt_quotes]inclusion_plan_total

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).

Field

Type

Description

[table]field

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.

[qt_quotes]finance_administration_fee_net

Field

Type

Description

[table]field

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 ato_residual_rates control.
This field can be role restricted.

[qt_quotes]residual_rate

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 novated_residual_basis_default control which can be updated.
This field can be role restricted.

[qt_quotes]residual_basis

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.

[qt_quotes]residual_net

Residual GST

Number

Displays the gst value. This field may be updated using the Refresh Base Rate button.
This field can be role restricted.

[qt_quotes]residual_gst

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 [gb_controls]lock_lease_rate_flag = 'yes'.
This field can be role restricted.

[qt_quotes]lock_residual_flag

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.

calculation

Field

Type

Description

[table]field

Total 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 via the Refresh Base Rate feature.
This field can be role restricted.

Total Residual Exc GST

Number

Displays the net value. This field may be updated via the Refresh Base Rate feature.
This field can be role restricted.

[qt_quotes]residual_net

FieldTypeDescription[table]field

Finance Application

This section displays Finance Application details which may be added via a Financier Interface or entered manually by users.

Once an "Application Reference" exists, only an 'Admin' user can edit these fields, e.g. the information might be deleted so you can re-submit an application.
These fields can all be role restricted.

Originator

Drop List

Choose an appropriate Originator if one has been set up. Only active originators can be selected.
When submitting an application for Angle Auto Finance this field is mandatory and must be populated to display the 'Apply' button.

[qt_quotes]originator_id

Application Reference

Number

Records the Financier's Reference Number.
Quotes can be configured to require the "Application Reference" field to be populated for specific Contract Types.

[qt_quotes]application_reference

Application Date

Date

The date the application was made to Financier for funds approval

[qt_quotes]application_date

Status

Text

Shows whether the submission of the finance application to the financier via the web-service has failed or whether it was successful

[qt_quotes] application_status_flag

Application Status

Text

Will allow users to store the progress of the finance application (eg. pending or waiting on additional information etc). This field cannot be directly edited from the screen.

[qt_quotes]application_status

Button

Description

View

Apply

The Apply button is enabled when a financier interface can be used to send a credit application to the nominated financier.
An interface is currently available for Angle Auto Finance.

Resubmit

The Resubmit button is shown if you have made an Angle Auto Finance credit application and the application was 'PartiallySuccessful'.
Review the issues documented in the most recently stored Quotes / Events 'Angle Application' pdf, correct the issues and try again.

Edit

Click to edit the selected record.

Edit

Save

When you have finished editing the record, click to save.

Cancel

Cancel if you don't want to save your current edits.

Refresh Base Rate

You can recalculate the Monthly Rental Finance component of a quote if certain conditions are met. Go to the Refresh Base Rate page for full details.

Alert

Comments

Field Entry

Term must be greater than Months Deferred.

A quote's "Term" must be greater than the number of "Months Deferred". Edit either the "Term" or "Months Deferred" field to correct this.

fm_financier_rate is missing

Refer Setup / Reference Data → fm_financier_rates to enter Finance Rates for the entered Financier.
When financier rates are not populated, the system will default in the value from Setup / Reference Data → gb_controls "interest_base_rate".
If this value is also missing, 0.0000% will be the entered Base Rate.
Contact your Account Manager for more information on how to set this up.

Maximum Base Rate exceeded. Please amend below 100%

Reduce the value of the reported field.

Maximum Client Margin exceeded. Please amend below 100%

Reduce the value of the reported field.

Maximum Finance Rate (Base Rate + Client Margin) exceeded. Please amend Base Rate and/or Client Margin as required below 100%

Reduce the value of the reported field.

Maximum Broker Rate exceeded. Please amend below 100%

Reduce the value of the reported field.

Maximum Commission Rate exceeded. Please amend below 100%

Reduce the value of the reported field.

Maximum Residual Rate exceeded. Please amend to less than or equal to 100%.

Reduce the value of the reported field to 100% or less.

Maximum Usage Adjustment exceeded. Please amend below 100%

Reduce the value of the reported field.

Maximum Variant Adjustment exceed. Please amend to less than or equal to 100%.

Reduce the value of the reported field to 100% or less.

Maximum Residual Rate exceeded. Please amend to less than or equal to 100%.

Reduce the value of the reported field to 100% or less.

Term must be greater than months deferred

Given term is greater than months deferred

Save

Annual Insurance must be more than $0.00!

Your insurance selections or a change in the selections have caused the Insurance profile to calculate with an "Annual Ins" of 0.
Click OK and you will be navigated to Quotes / Lease to update this field.

Client Margin must be 0 or a positive number

Quotes / Finance "Client Margin" cannot be negative.
You will be alerted on Save, or when you try to navigate away from the Finance tab.
This is managed by a [gb_controls] setting and this can be updated after quotes have been created with negative margins.
In these cases, these quotes cannot be updated unless the margin is updated to a positive value.

This vehicle no longer qualifies for the FBT Exemption – enter the Date First Held and tick either Yes or No for Luxury Car Tax Paid.

Click OK to exit the alert. The quote is saved with the following
"FBT Treatment Type" is 'Standard'
"Use ECM?" reverts to the Client's setting (usually checked").
The required conditions to use 'EV Exempt Reportable' have not been met.
If the vehicle is 'Used' or 'Demonstrator', check that the “Date First Held” and “Luxury Car Tax Paid” fields have been populated appropriately.

This vehicle qualifies for the FBT exemption.

OK to save the quote with the following changes
"FBT Treatment Type" reverts to 'EV Exempt Reportable'
"Use ECM?" flag is checked OFF.
Cancel to save the quote without changes

"FBT Treatment Type" remains unchanged as 'Standard'

Vehicle Type is not FBT Payable Exempt - are you sure?

When "FBT Treatment Type" is set to 'EV Exempt Reportable' and the linked [qt_vehicle_types]fbt_payable_exempt_flag is not 'yes', this alert will appear.
[OK] will accept the warning and Save.
[Cancel] will leave "FBT Treatment Type" unchanged and Save.

Apply - Maclease

USER_NOT_AUTHORISED

Your signon to Maclease is not correct.
Visit the Maclease Partner page to see the set-up steps that are needed.

Various

Various errors will be displayed if data is missing from the application.
Visit the Maclease Partner Interface Validation Errors which documents these all in detail.

Apply - Angle

Angle Finance Create Application failed invalidOriginator Originator is not selected

Quotes / Finance "Originator" is blank.
Select the originator and try again.

Angle Finance Create Application failed

The application can fail for a range of reasons. Go to the Angle Interface page for more details.

Refresh Base Rate

Base Rate updated

When the Refresh Base Rate is complete, the quote will be unlocked and this confirmation message is displayed.

Nothing to update! No further action is required.

When Refresh Base Rate is clicked and Quotes / Finance “Base Rate" is already a correct match for the system settings, this message is displayed.

Locked by: {user_login}

This message is shown if the quote or linked contract cannot be locked, or billing is in progress.

Quote Id - Base rate is locked.

This message shows if Quotes / Finance Image:Refresh_Base_Rate.png is clicked and the [qt_quotes]lock_base_rate_flag field is 'yes'.
The Refresh Base Rate button will show this alert if clicked.
The field [qt_quotes]lock_base_rate_flag can only be updated using the patchQuote API at this stage.