Type
Select the type of Disbursement from the list. The available options are as follows:
| Type | Description |
|---|---|
| None | The Element is not to be disbursed. |
| Payout |
Select this option when the payment of the initial loan advance is to one or more parties. This could include payments to the Loan Client(s), payments to Finance companies (where loans are being consolidated) and payments to Dealers. Payments to Dealers will display a variance if the value is not disbursed. |
| Cost | Where the payment of costs are made on behalf of a Loan, e.g. Insurance Premium, and Dealer commissions that are financed as part of the loan. Cost Type disbursements are not included in variance figures. |
| Recovery | Where payments are made to the Finance Company. These could include fees on-charged, claw backs and deposits from Dealers. |
Element and Key
Element - Select from the list of available Elements. Elements must be defined as Disbursement type elements, on the General page, in order to appear in this list.
Key - This is an optional field that can be used in scripting.
Disbursement Payee defaults.
Payee Type - Select the Payee Type from the list.
Ext Party - Select from the list of available External Parties; this list will be limited depending on the Type selected above.
Allow Payee to be overridden - Tick to allow the User to choose a different External Party.
Consolidate Disbursements - Tick to consolidate disbursements with others for the same Payee and disbursement element.
If unticked, each Transaction will go through the Bank Account or External Party Disbursement Account as individual transactions.
Basis
Choose a method of calculating the default amount of the Disbursement from the list. The available options are:
| Basis | Description |
|---|---|
| None | Don't calculate a default value. |
| Full | Pay the full value of the 'Loan Advance' transaction. |
| Set Value | Pay this amount regardless of the value of the 'Loan Advance' displayed when opening a new Account. |
| Percentage | Pay the nominated Percentage of the 'Loan Advance' transaction value. |
| Difference | Pay the value of the 'Loan Advance' transaction, less the value entered into this field. |
Percent / Value
This field will only be visible if Set Value, Difference or Difference was selected as the Basis.
Commission Element
Element - Select the Element to pay Commission to. This list will be limited to Elements that are defined as 'Disbursement Types'.
Click here for more information about External Party Commissions.