Create Bailment Account Details

Purpose

Facilitate the manual creation of new Bailment Accounts with identifying asset details

Access

1. View | Bailment Dealers | Accounts tab | Accounts Search tab | 
   

Note: If the Bailment Dealers credit is suspended, this button will be disabled

Dialog Details

Details Specific Fields

Field	Explanation
Bailment Dealer	This field is display only and shows the Bailment Dealer associated with this Account
Bailment Order	[F2] to highlight and  an order to be associated with this account This will prepopulate the Distributor
Distributor Invoice Number	Enter the Invoice Number of the invoice received from the Distributor for the asset associated with this Account This will be used as the Reference on the Transactions created as part of the account creation process
Bailment Loan Model	[F2] to highlight and  the Bailment Loan Model to be used to generate this Bailment Account When the Account is created the Bailment Loan Model will update the Floor Plan Profile, Account Type, Default Interest Profile and ESR Profile to be on this Account
Open Date	This will default to the current date but can be altered if required
1st Analysis Code	[F2] to highlight and  the First Analysis Code for this Bailment Account
Distributor	[F2] to highlight and  a Distributor to be associated with this account The Bailment Dealer must have sufficient Available Credit with the Distributor to cover the purchase price of the asset exclusive of GST The Distributor must have same company and currency as the Bailment Dealer
Payable Client	[F2] to highlight and  a Payable Client that will be used to purchase the asset from instead of the Distributor associated with this account The Bailment Dealer must have sufficient Available Credit with the Distributor to cover the purchase price of the asset exclusive of GST The Payable Account must have same company and currency as the Bailment Dealer
Purchase Price	Enter the Purchase Price of the Bailed Asset, including tax If the Distributor is a related party the tax will be zero
Asset Condition	Select the Asset Condition
Description	Enter the Asset Description This will also be used as the description of the Bailment Account
Model Number	Enter the Asset Model Number if relevant
Year of Manufacture	Enter the Asset Year of Manufacture if relevant
Security Make	[F2] to highlight and  the Security Make of the Asset
Colour	Enter the Asset Colour if relevant
Engine Number	Enter the Asset Engine Number if relevant If no engine number is entered, a VIN / HIN must be entered
VIN or HIN	Enter the Asset Vehicle Identification Number or Hull Identification Number if relevant If no VIN/HIN  is entered, an Engine Number must be entered
Registration	Enter the Asset Registration if relevant
Stock Number	Enter the Stock Number
PPFC	Where a PPFC has been defined for the Distributor associated with this bailment account, the PPFC amount will display here, based on the Bailment Dealers’ PPFC rules The amount may be overtyped The amount is inclusive of GST
Note: The below fields will only be displayed if the selected Distributors’ settings contain Asset Defaults and the Asset Condition = Used. The fields may be overtyped
Age	Default maximum age of the asset
Kilometres	Default maximum number of kilometres
Advance Rate	Default advance rate specified

Details Specific Function Buttons

[Button]

Explanation

Account Creation Rules The system will search for a Bailment Asset that has a matching Engine Number and/or VIN/HIN to the one entered If a match is found and the Bailment Asset is linked to a live account the account creation will fail If a match is found and the Bailment Asset is not linked to a live account the user is warned that a match is found and the account will continue to be created using the existing asset If no match is found the account is created, from the details entered.  This process will automatically create the following transactions required for the purchase of the asset from the distributor: The first transaction will be created using the Asset Purchase Transaction Type, as specified on the Bailment Account Type This will debit the Bailment Account and credit the Bailment Distributor Transfer Account The second transaction will be created using the Distributor Asset Purchased Transaction Type, as specified on the Bailment Account Type This will credit the Distributor Account and debit the Bailment Distributor Transfer Account If the distributor is not a ‘Related Party’, then a further transaction will post using the Asset Tax Transaction Type, which credits the Bailment Account and debits the GST GL code The reference on all of the above transactions will be set to the Distributor Invoice Number A new Bailment Account cannot be created manually for a Bailment Dealer that has a Credit Status with a Risk of Suspend Credit The  button will be disabled A new Bailment Account cannot be created manually for a Bailment Dealer if the purchase price of the asset (excl GST) is greater than the Available Credit for the Distributor. Where an order has been selected, the Bailment account will not be created if the purchase price of the asset (incl GST) is greater than the available order credit (releases approved amount).

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