Fixed Loan Dealer Profile Details

Fixed Loan Dealer Profile Details

Purpose

To allow the system to apply rules too:
  1. determine the components of a Fixed Loan that are payable to the Dealer when a loan is settled
  2. calculate commission if required

Timing

Dealer Profiles may be established as required 

At least one Dealer Profile must exist

Access

  1. Fixed Loan | Edit/View Fixed Loan Dealer Profiles 
  2. Dealer Profile Lookup field on Fixed Loan Account

Dialog Details


Details Specific Fields

Field
Explanation
IRR required
If no commission is payable to the dealer leave as 0.00

Otherwise enter the internal rate of return required from Dealers using this profile
IRR Calculations
IRR – Pay Dealer at Start.  All the commission is credited to the current ledger of the Dealer account at the time the loan is settled.  Commission will be paid out upfront in the same way as other loan components due to the Dealer
DL IRR Current Ledger
Select the Transaction Type that will be used to post commission as follows:
  1. The credit entry to the Dealer current ledger for the full amount of commission if the IRR calculation method is Pay Dealer at  Start
    OR
  2. The credit entry to the Dealer current ledger each time a Fixed Loan instalment posts for the straight line portion of commission if the IRR calculation method is Defer
The commission expense will be posted to the GL Code associated with this Transaction Type
DL IRR Future Ledger
Specify the Transaction Type that will be used to post the accrued Dealer IRR commission at the start of the loan

This will be expensed to the GL commission earned account and become due as payable on the Dealer Account each time a Fixed Loan instalment is posted
Early Settlement calculations
This determines whether and how commission will be clawed back from a Dealer if a loan is terminated early 

Options are:
  1. None – No clawback
  2. Rebate Total – clawback the total that is unearned by the Dealer
  3. Rebate 90% - clawback 90% of the commission from the amount that is unearned by the Dealer
Fee per contract
Not Used
Fee per Instalment
Not Used
Dealer Transaction Type for Fee 
Not Used  

However, as this is a mandatory field, a Transaction Type must be selected
Dealer Trans. Type for Xtra Comm. 
Select here the Transaction Type that will be used to post extra commission to a Dealer account

The amount posted is that entered in the Dealer Extra Comm field on a Fixed Loan account at set up time 

It is also used to post extra commission that is calculated at the end of the month when the Monthly Commission calculation routine is run

This is used to calculate extra commissions payable to a Dealer based on volume of business between two months
Insurance Premium Rebate Tran Type
Only required if Insurance is paid out to the Dealer

Select here the Transaction Type that will be used to rebate insurance on early termination of the account
Dealer Finance Details
On the right hand side of the dialog is a section where the relationship between the Dealer and Fixed Loan Cost Items can be established

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