Dealer Lease Payment Process

Dealer Lease Payment Process

Purpose

This process is to be used for Lease account payments that may be:
  1. collected on behalf of a dealer (direct debit raised by the finance company in the name of the dealer so it appears the direct debit is being taken by the dealer) 
  2. or where an invoice is created for each dealer and a direct debit file raised for the invoice amount.  The dealer may then amend the direct debit details to represent the actual amounts they have collected from their clients.
This process is outlined on the assumption that all Direct Debits will be processed on the 20th of the month, and payments for the invoiced accounts will be processed on the 28th of the month.  These dates may vary between users.

Prerequisites

Dealer Accounts

The Dealer Control Details flag allowing Dealer Lease Direct Debits must be checked on.

The file path and bank accounts must be specified on the Dealer Account Details.

Direct Debit Processing

Lease Account Setup

Accounts to be Direct Debited must have the account Direct Debit Details completed. Next Date will be the 20th of the month.

Direct Debit Report

It is recommended that the Fixed and Variable Loans Direct Debit processing is completed prior to undertaking this processing, so that the report only displays Lease module accounts.

Accounts | Print Direct Debit Report


Field
Explanation
Report Order
Report order must be system to show the Dealer group and file path totals
Date Range
Enter a To date



A report similar to the below will be displayed:

Note: identifying details have been removed

The report will be grouped by the dealer and the file path for the DD file. The expected DD File total will be displayed at the end of the grouping, for reconciliation purposes.

Post Lease Instalments Due


This process posts the Lease instalments, any recurring charges and creates the Direct Debit batches and files.

Field
Explanation
Posting Date
Enter the Direct Debit date (usually the 20th of the month)

Accounts with a Direct Debit date equal or prior to this date will be processed

On completion of this process, Direct Debit bank files will be available in the file path specified on the dealer account, for upload to the banking software.       

Invoice Processing

Lease Account Setup

Accounts to be invoiced must also have the account Direct Debit Details completed. Next Date will be the 28th of the month, the bank account should be specified as the finance company bank account.

The Lease Account ‘Invoice Req’ flag must be checked on.

Create Lease Bulk Invoices



FieldExplanation
Invoice Due Date
Enter the date that the invoices are due for payments

Note: Process will only include accounts with the 'Invoice Req' flag checked on
Invoice Export
[F2] and specify the network folder that the invoice communication and CSV listing should be saved to

On completion of the process, there will be two outputs per dealer:
  1. A .csv file listing the lease instalment due details on a row by row basis.

    The file name will be of the form Dealer Name_MM-YYY_LeaseInvoice.csv.  Eg TPC Finance_03-2019_LeaseInvoice.csv

  2. An Invoice report containing all Lease payments due.

    The file name of report pdf created will be of the form: Dealer Name_MM-YYY_LeaseInvoice.pdf.  Eg TPC Finance_03-2019_LeaseInvoice.pdf.

    The invoice report will contain two sections: Monthly Rental Agreement Instalments and Asset Purchases.

See example below:

Note: identifying details have been removed

Post Lease Instalments Due


This process posts the Lease instalments, any recurring charges and creates the suspended cashbook batch

FieldExplanation
Posting Date
Enter the Direct Debit date (usually the 20th of the month)

Accounts with a Direct Debit date equal or prior to this date will be processed

Modify Cashbook Statement Batch

Once the process is complete, access the Cashbook Statement Browse, and search for the cashbook batch created by the Lease Instalments process.

 the batch and sort by either the Description or the amount. Sort the Lease Invoice export csv file to the same order.

  or   the Cashbook Transactions for the accounts that require adjustments.

Once the batch total is correct, Unsuspend the batch and .

Cashbook | Post to Other Systems may then be run to post the payments to the associated lease accounts.



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