Creating a Financial Receivable before the Deal is Capped

Creating a Financial Receivable before the Deal is Capped


Creating a Financial Receivable before the Deal is Capped

This financial receivable can have up to three components:

1. The amount financed
2. The PPSA/VSI fee
3. The participation on a deal

 The PPSA/VSI fee can be netted against the AR Financial Receivable if the checkbox is checked in the Finance Company details:


This means that the Finance Receivable will not include this amount. You would check this when you have to report the fee on the deal and the forms, but you will not actually be receiving this amount from the finance company.

• The amount of the finance receivable invoice with that box checked would be: Amount Financed – VSI/PPSA fee + participation.
• The amount of the finance receivable invoice with that box Unchecked would be Amount Financed (which includes the VSI/PPSA Fee) + participation.

New Functionality Details:
From the Deal Details screen, there is a menu item under <File> called <Create Financial Invoice>:



Clicking on that item will display the following dialog box:



Selecting “yes” will take you to the next message. Selecting “no” will cancel the process.
 

 
Selecting “yes” will display the following dialog box:



This dialog box is prompting you to make the following choices:
 

1. Selecting a posting date will be the date in the system that this invoice has been created for.
2. Selecting “Yes, create a Payment” will also post the payment (that will specify later in the process) as of the date you picked in step #1.
3. If you check off the adjustment payment box, it will not go through your Daily Book.
4. Clicking Cancel at this stage takes you back to the deal and the Financial Invoice will not be created