Create Curtailments Wizard

Create Curtailments Wizard

Purpose

To allow the bulk update of accounts to be put Under Arrangement and create a Repayment Schedule for each selected curtailment candidate

Access

  1. Bailment | Processes | Create Curtailment

Process


Process Parameters

Field
Explanation
Processing Date
Populates todays date

May be changed to a future date (within the current month period) to allow website processing throughout the month
Distributor
Leave blank to process for all due in full accounts

[F2] and  a Distributor if only that Distributors accounts should be processed


Review Curtailment Candidates

A list of accounts that are due in full as at the specified date will be displayed

Curtailment Candidate Parameters

Field
Explanation
Curtailment Candidates Checkbox
Checked on by default so all accounts are included

May be checked off and individual candidates checked on
Curtailment Date
A date may be entered which can be applied to all check Curtailment Candidates

This is an effective way to set a specific Curtailment Date to a number of candidates when used in conjunction with the  button

This field will be disabled is there is a value in the Day Field
Day
A day may be entered to force all curtailment candidates to have the same curtailment day

Day rules will be used when  is used

If the day entered is 31, the months with 31 days will have their date day as 31, those with 30 days will have their date day as 30, and February will have 28 or 29

Where a Day has been entered an applied to all accounts incorrectly, the day may be rest to no value by entering a 'c'  and then 

The Day column in the grid will then be blank

This field will be disabled if there is a value in the Curtailment Date field

Curtailment Candidate Results Grid

Field
Explanation
Create Curtailment
An account may be removed from the process by unchecking this box

It may be included by checking the box if already unchecked
Account
Display only field

Bailment Account Number
Original Asset Amount
Display only field

The Gross Purchase Price of the Asset
DIF Date
Display only field

Due in Full Date
Curtailment Spread Percentage
May be changed

Default Curtailment Percentage as recoded on the Account Type Details

Percentage may only be in the rage of 5% - 50%
Curtailment Date
May be changed on an individual account, or on all accounts using the Curtailment Date parameter

If the Day functionality has been used to create the date, and the date is then manually changed, the Day field will be made blank
Day
This is not usually manually adjusted as it is used to apply to all accounts where a common day is required

It would normally be altered using the Day and  functionality
Curtailment Schedule
The Curtailment Schedule specified on the associated Distributor will be defaulted

This may be changed

Note: All accounts must have a Curtailment Schedule specified, if left blank, the wizard cannot be progressed

 to place the selected accounts under curtailment

Process Outcomes

  1. Bailment Account Curtailment setting is changed to Under Arrangement
  2. Bailment Account Curtailment Tab is enabled
  3. Bailment Account Repayment Schedule is generated, and available for viewing on the Dealer Website
  4. Bailment Account Curtailment Direct Debits are created if this functionality is turned on


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