Payout Dealer Balances

Purpose

To automatically pay to Dealers amounts that are due to them by direct credit or cheque.  Dealer accounts can be selectively excluded from this process

Timing

This process is usually run towards the end of the day, once all loans for the day have been settled

Access

1. Dealer | Payout Dealer Balances
   

Process

There two steps to the Dealer payout process

Reconcile Dealer Payout Report

1. Print the Dealer Payout Report to check the amounts due to each Dealer
   
2. Manage any transactions that you wish to partially pay or that have been paid previously
   
3. Refer to Manage Transactions and Marking Transactions as Paid
   
4. Refer Dealer Account details to selectively exclude a Dealer from this process
   
5. If the reported liabilities are correct continue with Step 2   
   
6. If any transactions need to be managed or excluded from payout, undertake the above processes and then reprint the Dealer Payout Report       
   
7. Repeat until the Dealer Payout Report represents the amounts to be paid to each Dealer   
   
8. Proceed to Step 2
   

Run the Dealer Payout Process

1. Dealer balances can be paid by Direct Credit or cheque
   
2. The menu option Payout Dealer Balances will facilitate this 
   
3. This process will automatically create a Direct Credit output file to be imported to your banking software
   

The below dialog is presented when paying out Dealer balances

Field	Explanation
Bank	Select the Bank account that the Direct Credit batch will be created against
System	Defaults to Dealer and may not be edited
Direct Credit Communication Type	Select the Communication Type that represents the Dealer remittance advice that is to be created for payment by direct credit This Communication will detail each loan being paid out and the total being paid to the Dealer by Direct Credit
Cheque Communication Type	Select the Communication Type that represents the Dealer remittance advice that is to be created for payment by Cheque This Communication will detail each loan being paid out and the total being paid to the Dealer by Cheque
First Cheque Number	Enter the First Cheque Number available from the cheque book.  The cheques will need to be manually written Each cheque must correspond to the amount created by the Cashbook withdrawal transaction for the same cheque number Cheques should be attached to remittance advised and mailed to each Dealer

For this process to be run the following setups must exist:

Field	Explanation
Dealer Client Bank details	For the client to be paid by direct credit their bank details must exist in the  button of the Client Details screen for the Dealer  If the bank details are not included, and the client is included in the Payout Dealer Balances Process, then the Dealer will be automatically paid by cheque
Direct Credit transaction type	This is entered in the Dealer Account Type screen If the Transaction Type does not exist, the process will complete, but no cashbook transactions will be created

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