New Account Net Advance limits

A minimum and maximum limit can be set for the Net Advance for new Loan Accounts. When entering a new Loan, (via the New Account wizard), if the Net Advance is outside the defined range an error occurs.

This simplifies lending responsibilities under Australian SACC and MACC regulations.

Minimum

Enter the Minimum value limit for new loans.

Maximum

Enter the Maximum value limit for new loans.

Transactions (Opening and Ongoing)

Transactions can be set up for Opening Transactions, Establishment Fees or Miscellaneous Fees which are to be charged against the Account. Additionally these can be set up as one off payments or have periodic charging periods. For example, an annual insurance payment on a secured item, can be set up as an annual charge.

Column	Description
Drilldown	Click to drilldown to the details of the transaction.
Allow Change	If ticked. The value can be changed by the User when the Account is still a Quote, or when moving through the New Account wizard. If un-ticked, the Transaction will be read-only for Users entering new Accounts.
Description	The description of this transaction.
Element	Displays the Element selected for the transaction.
Frequency	Displays the occurrence of charges. Available frequencies include Opening, Refinance, Restructure, Once, Weekly, Fortnightly, Monthly, End of Month, Quarterly, or Yearly.
Key	Displays a Key to identify the Transaction.
Notes	Displays any notes relating to the transaction.
Reference	Displays the reference entered for the transaction.
Value	Enter the value which applies when calculating the the default charge according to the Basis selected.

Transactions with a frequency of Refinance will be available when refinancing an Account. Transactions with a frequency of Restructure will be available when restructuring an Account.

Button Strip

Icon	Definition
	To add a new transaction.
	To delete selected rows.
	To duplicate the selected row.
	To move the selected row(s) up.
	To move the selected row(s) down.