This allows you to add a new lease or loan to ALMSys.
The top of the tools area contains some buttons that are used for the underlying screens. These buttons are:
Close. This will completely close out of the new deal screen without adding the deal.
There are informational fields on this bar that will display pertinent data for the deal you are adding.
The add a new deal function will guide you through the new deal process. The first page is Start. On this page, you will determine how you are adding the new deal. There are boxes for each type of new deal add. Follow the steps in the box that matches the method for which you are adding the deal. There will be a button in each of these boxes that will take you to the next relevant tab.
The Basic Information page is used to enter the deal's control number, VIN, contract date, and other information for starting the deal. After supplying the information on this screen, click the Next button at the top.
The Calculations page (details below) contains all of the data fields necessary to calculate a lease or loan. The heart of this page is the Base Calculation Values box. This box is programmed so that you can enter any 4 of the 5 values in the fields within the smaller teal box, and the 5th value will be calculated for you. There are many tabbed pages within the Calculations page. The Charges page is used to adjust the due on delivery and capitalized cost amounts. The Taxes page is used to select the appropriate tax entities for a lease. The Base Payment Add-Ons page is used to assign add-on amounts to the deal's base payment, the Prorate page will allow you to add a prorated due on delivery amount for those leases that have deferred first payment dates, and the Amortization Schedule page will show you the calculated amortization schedule as well as to serve as the gateway to setting up payment skips.
The Review and Save page is to verify that the deal calculations are correct and to save the deal into ALMSys. Nothing is saved into ALMSys until the Save This Deal button has been clicked.
Calculations Page Details
Main / Calculations
This is where you perform the calculation and see the resulting amounts. Start by entering the base value of the vehicle in the Capitalized Cost field. Additional charges (or credits) are entered on the Charges page as described below.
If the End Value is zero, then check the Check this if End Value is Zero box. The program will try to check and uncheck this box for you. If you are trying to back calculate the end value, set it to zero and uncheck the box (in that order).
If the Interest Rate is zero, then check the Check this if Interest Rate is Zero box. The program will try to check and uncheck this box for you. If you are trying to back calculate the interest rate, set it to zero and uncheck the box (in that order).
The Term of the deal is the number of periodic payments and is directly linked to the Payment Frequency selection. For example, if your deal is for 12 monthly payments, then the Payment Frequency should be set to Monthly and the Term should be set to 12. If your deal is for two years of weekly payments, then the Payment Frequency should be set to Weekly and the term should be set to 104.
The Base Payment is normally calculated for you. It is the value before taxes and any other add-ons. If you calculate the deal and are a penny or two off, you may use the up/down arrows that will appear after this field. This will adjust the interest rate to match the desired base payment. If you are more than a couple of pennies off, then zero out the interest rate, uncheck the zero interest box, set the base payment to what you want and calculate the deal.
Deal Calculation Types are explain here.
It is important that the First and Second Payment Dates are correctly set. (These dates should coincide with the payment frequency selected.)
Whenever any value changes on any of the calculation subpages, you should always click the Calculate button at the top of the calculate page.
This is where you input the miscellaneous add-on charges and due on delivery charges to the deal. The left side of the page is for non-capitalized (due on delivery) charges, and the right side is for capitalized (added to the deal) charges.
Charges are added by:
Select the charge type by pressing the down arrow in the first field in the box above the darker grid. (Master codes for charges are set up on the Tools: Billing - Lease Charges Master screen.) (Master code charges may be specified as non-taxable, which would only affect a capitalized charge.)
Type in the amount of the charge.
Press the + button.
The new charge will appear in the grid below and the totals will be updated accordingly. You will still need to recalculate the deal on the Main subpage.
Charges may not be changed once they have been added. You may delete a charge by clicking on the charge in the grid and then pressing the button in the lighter box above the grid.
The Cap. Cost Reduction field is a special field that affects the totals on both sides of the screen. Positive cap. cost reductions will lower the net capitalized cost and increase the due on delivery.
The Cap. Reduction from Trade field will work like the Cap. Cost Reduction field only if the check box is marked to include it in the due on delivery calculation. (This check box is set by default in location maintenance.)
For Canadian deals, specifying Lien on Trade data may (or may not) affect the GST/PST tax calculations. GST Registrants will always pay full GST and PST taxes. If the lessee is not a GST registrant, then indicate whether or not the PST is also affected (lowered) by the lien on trade
This page is used to provide the tax breakdown. Each tax entity should be defined separately. These entities are referred to by ALMSys as Additional Monthly Payments. These codes are set up on the Tools: Billing - AMPTax Master Codes screen.
The grid on the left contains a list of all of the defined codes. Details for the selected code will appear on the right.
To assign a tax code to the deal, simply click the "X" column of the corresponding code.
The Rate Selected field will contain the total percentage of the tax codes selected. Upon calculating the deal (on the Main subpage), then Tax Amount Calculated field will contain the results of your selections and the calculated amounts.
If you need to calculate a tax off of a reduced base payment (because it contains non-taxable amounts), then you may override the percentage by checking the Override Tax Rate box, and then entering the desired tax amount into the Tax Amount Desired field. You would then click the Calculate Tax Rate Override button and the percentage would be calculated for you. For example:
Base Payment = $400.00
Tax Rate = 7%
Taxable Portion of Base Payment = $110.00
Desired Tax Amount = $7.70
In this example you would check the desired tax code in the grid, mark the Override Tax Rate box, and then enter 7.70 into the Tax Amount Desired field. You would then click the Calculate Tax Rate Override button. The resulting Tax Rate Override would calculate to
0.27500, which is 27.5%. (The calculation is $400.00 * 7% = $28.00. $7.70 / $28.00 = 0.275.)
Base Payment Add-Ons
This page is used to assign other, non-tax additional monthly payments to the deal.
Add-ons assigned to the deal must have a corresponding Additional Monthly Payments master code established before they can be assigned to the deal.
Whether the add-in is taxable or not, or if will appear on a statement is controlled by the AMPTax master code definition.
You will need to recalculate the deal after making your selections on this page.
For deals that have deferred the first payment beyond the contract date of the deal, you may have ALMSys calculate the prorated rental payment for the period between the contract signing and the due date of the first payment.
The resulting amount will be added on the Charges page. (If you already know this amount, you can simply go to the Charges page and add it manually.)
Follow the steps on the screen to calculate the prorated payment. There are two methods of calculating the prorated payment. The per diem method will simply divide the total monthly payment amount by 30 days, and then multiply the result by the number of days that the first payment is deferred from contract signing. The interest rate method will calculate daily interest (much like a loan), based on the interest rate provided.
You will need to recalculate the deal on the Main subpage after completing this page.
This page will convey the calculated amortization schedule. You must calculate the deal before the amortization scheduled is displayed. Press the Quick Print button to print the schedule.
Press the Set up Payment Skips button to modify the amortization schedule to allow for payment skips. See How Payment Skips Work for help in this area.
This page will convey the calculated comparisons between ALMSys and XSellerator for those deals imported from XSellerator. Press the Quick Print button to print the results.
Review and Save Page Details
This page is used to review the data that has been input for the deal. You will be shown a Review Calculations panel. Please review this data carefully.
If this is a prepaid lease, then please check the "This is a prepaid lease" box.
If you are adding a deal that has the first payment due on delivery, you can specify whether or not you would like ALMSys to automatically post this first payment for you. The payment would be posted with the deal posting date that you selected.
If you are adding a deal that has the first payment deferred, you can control whether ALMSys bills for only the normal payment amount or for the entire due on delivery amount plus the normal payment amount. No monies are posted as "paid" for a deferred lease.
If you are adding leases and want to have ALMSys automatically calculate lease depreciation for you, then please go to Tools - Location Settings and set up the depreciation on the New Deal category type. (Note: No depreciation will be calculated for prepaid leases.)
Press the Save This Deal button to save the deal to ALMSys. Upon saving, please review the apprporiate Account data screens and fill in information not provided by adding the new deal.
Fix DOD Taxes Page Details
You will only see this page if you are bringing over deals from ALMSys Quotes, and there are due on delivery taxes.
ALMSys Quotes lumps all of the DOD taxes into one amount and saves it as a special Lease Charges code called, "*AQ-TAXES*". This becomes a problem only when you are planning to create a ledger journal off of the DOD billing, and you need those taxes broken down to two or more tax entities.
This screen will review the tax breakdown on the normal payment amount, calculate what they should be, and place them in the "Breakdown, based on tax rates used" box.
All available Lease Charges Master codes will be placed into the "Available Lease Charges Master Codes" box. If you do not have any codes established for manual taxes DOD, then you will need to set them up before importing this deal from Quotes.
To reassign a tax, click on the tax in the "Breakdown, based on tax rates used" box, click on the desired charge code in the "Available Lease Charges Master Codes" box, and then click the Assign button. The resulting assignment will be placed into the "Resulting Assignments" box.
When everything has been reassigned, click the Fix DOD Taxes as Indicated Below button and your taxes will be reassigned. (You will be taken back to the Review and Save page.)