Available from the main menu via the button only.
This may be used by any user to calculate leases or loans.
Layout / How To
This screen closely resembles the New Deal Calculate page, and acts much in the same way. Fill out the data on the screen and click the Calculate button. Upon a successful calculation, the schedules and quote on the tabs on the right will become available.
Start in the Base Values box. You may manually enter the numbers, or start from the current customer's data. You may provide any 4 of the 5 fields in the right column, and the 5th one will be calculated for you.
If the end value of the deal is $0.00, then you must check the $0 box.
If the interest rate of the deal is zero, then you must check the No Rate box.
The Term is the number of payments to be made. You may set this field from the pulldown to the right of the "Term:" label. (Set the Pmt Frequency, first.)
There are two buttons available at the bottom of this box that will pull in customer data. Use the Load Current Calcs button to retrieve the original calculation data for this customer. Use the Load Current Balance button to start the Capitalized Cost at the customer's current balance.
When using the Load Current Balance button, some assumptions are made. For a lease, the end value will be set to 40% of the capitalized cost, the term and interest rate will remain the same, the Deal Date will be set to today's date, the First Payment Due Date will be set to today's date, and the Second Payment Due Date will be set on payment period out. For a loan, the end value will be zero, the term and interest rate will remain the same, the Deal Date will be set to today's date, the First Payment Due Date will be set to 30 days out, and the Second Payment Due Date will be set on payment period out.
In the Calculation Options box, there are four items that need addressing. First, you need to select the Calculation Type. "Spreadsheet" is the most common. ("Standard" is not recommended; please use "Standard with Interest" instead.) Second, you need to tell select the Payment Frequency from the list. Monthly is the most common selection. Third, you will need to answer the Prorate question. "No" is the most common selection. If you select "Yes", then a prorated amount will automatically be calculated for you and added to the deal. Fourth, please state whether this is a lease or a loan.
The Deal Date is the contract date of the deal. Interest will start as of this date.
The First Payment Due Date is the date on which the first payment is due. If prorating, interest will be calculated from the Deal Date to this date.
Based on the payment frequency and the First Payment Due Date, the Second Payment Due Date will be calculated for you. You may manually change this.
This is used for the reports that are generated on the tabs on the right. If you load calculation data from the current deal, then these fields will be filled in from the current deal.
This is where the resulting calculations will display. If there is a periodic tax amount, then fill in the tax percentage where indicated.
You must click the Calculate button to get the results.