Options for new Accounts

• Next Code - Enter a code so that the 'Account Code' is automatically generated when a new account is added. The numbering sequence can be set per Account Type, Product Type or Overall.

• Description - Enter text e.g., 'Consumer Credit Loan' to default the description. Smart tags are also available by right mouse clicking in the description box:
• [Security] will substitute the description with the Security description and
• [Dealer] will substitute the description with the Dealer Name.

• Ledger - Leave blank so that new Accounts of this Account Type will be added to the Standard Ledger, or select a 'Customised' ledger e.g., Salvage.

This list is defined by the AccountLedger Information List.

New Account Wizard

Tick any of the following relevant checkboxes to allow the selection, button or option within the New Account wizard.

• Allow entry of Ledger - tick to allow a Ledger to be selected or entered.

• Allow entry of First Payment Date - tick to allow the first payment date to be modified.

If unticked, the first Payment date field will not show and will be set by the system to be standard. For example, if the Payments are to be Monthly then the first payment will be set as 1 Month after the opening of the Account.

• Allow entry of Overriding Regular Payment - tick to allow entry of an Overriding Regular Payment.

If this option is unticked, you will not have the option to change the Payment field which you can view on the Help page, New Account, Financial page.

• Allow entry of Balloon Payment - tick to allow entry of a final Balloon Payment for this Account Type.

For more information about Balloon Payments, click on this link https://www.intersoft.co.nz/Blog/Default.aspx?id=BLOG.20200116.

• Allow entry of Residual Value - tick to allow entry of a Residual Value.

The link shown on the previous checkbox also has information regarding 'Residual Values'.

• Allow entry of Interest Cycle - tick to allow the Interest Cycle to be modified. When unticked, the Account Type default will be used; found on the Account Type, Interest page.

• Allow entry of Interest - tick to allow the Interest Rate to be changed; when unticked the Account Type settings will be used.

• Allow entry of Startup Interest - tick to allow entry of Startup Interest. Additional 'Startup Interest' settings are found on the Account Type, Interest page.

• Allow entry of Total Interest to calculate Interest Rate - tick to show the button that enables entry of Total Interest allowing finPOWER Connect to calculate the interest rate.

For example, this is used to match total interest to an external calculator.

• Allow entry of Review Date - tick to allow the Review Date and then click the relevant option in the Review Period dropdown list.

The Review date will be displayed in the New Account wizard, Other Details page and will default using the Account's Opening Date and the Account Type's review period.

• Review Period - select the Review period for the Review Date.
• If left blank the default Review Date will be blank i.e., no date and if required will need to be selected or entered on the New Account wizard.
• Opening, will default the Account's Opening date.
• Today, will default the current date.

Account Type Promotions allow the Review Period to be overwritten.

• Show Overriding Payments tab in Financial Page - tick to display the Overriding Payments tab at the bottom of the Financial page, allowing entry of overriding payments.

• Show Options tab in Financial Page - tick to display the Options tab at the bottom of the Financial Page, allowing updates

The Options tab can include additional sections like:

• Default Interest
• Interest Rate change instructions
• Options - Payments in advance and charging Interest on Interest.

• Show the 'Instalments' drilldown button in Financial Page - tick to display the Instalments drilldown button in the New Account wizard, Financial Page.

The Instalment button provides an overview of what Weekly, Fortnightly and Monthly payments will look like for different terms.

• Show in Web Interface - tick to show the 'Instalments Drilldown' in the Web Interface.

This is only for the old style Web Interface and not the new finPOWER Connect Cloud.

• Show 'Print' button to print a Quotation in Financial Page - tick to display the Print button to print a Quotation from the Financial page in the New Account wizard.

• Include Disbursements page - tick to display the Disbursements page in the New Account wizard.

This can only be used if you are licenced for Advanced External Parties Add-on.

• Include User Defined Page - tick to display the User Defined page in the New Account wizard.

The User Defined page fields can be set up via Global Settings or by adding a Parameter Set and defining in the Account Type, Other page.

New Account Wizard options

• Default status as 'Quote' - tick to default all new Accounts to a status of 'Quote'.

• Default Residual Value from Net Advance - tick so that the Residual Values is derived from the Net Advance and added to the Residual Field on the Financial page of the New Account wizard.

• Default Residual Value from Securities - tick to default Residual Values of Securities to the Residual Field on the Finance tab when adding a new account.

• Default Print Contract Document - tick so that the Print Contract checkbox at the end of the New Account Wizard is ticked by default.

New Account options

• Include Account Warning Information items - tick to include Account Warning Information. This is used in conjunction with the Account Warnings script which is a 'Built in' script.

• Include Account Warning Alert items - tick to include Account Warning Alert items in the 'Account Warnings' page of the 'New Account' wizard. The user must tick the Alert items in order to proceed through the wizard.