Tools: General - Quick Calc
This is used to create a lease or loan calculation.
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.
Fill out the data in the boxes in the left column of the screen (on the Calculations tab). In the Base Calculation Value box, provide only 4 of the 5 values and the 5th one will be calculated for you. To back calculate an interest rate, leave it zero and uncheck the box after it.
If the end value of the deal is $0.00, then you must check the box after it. The same applies to the interest rate.
The Term is the number of payments to be made and must correspond to the payment frquency selected.
There are two buttons available that will pull in customer data. Use the Import Current Calculations button to retrieve the original calculation data for this customer. Use the Import 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 Contract 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 Contract 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 one 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.
The Contract 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 at the top of the screen. If you import 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. If the Net Capitalized Cost includes fees, then enter the total of those fees into the APR Calculation box and a more accurate APR will be calculated for you.
Planned Long Term Growth
These fields are provided on the PLTG tab that will allow you to perform the PLTG calculation. You must calculate the deal, first. Then provide the PLTG input fields and click the Calculate PLTG button. The results will display and the PLTG tab will contain printable results.