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Tomas Nagy

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After clicking, the system launches a wizard (function) to create a contract in three steps.

Step 1

Field:

  • Type

    • The user selects the Calculation value to create a calculation and the Contract value to create a new contract

  • Financing Type

    • The user selects the appropriate type of financing of the financing contract by selecting from the following options:

      • Financial leasing

      • Operative leasing (only if it is an OL product without services)

      • Credit / Loan

      • Instalment Sale

  • Legal Form Code

    • The user selects from the code list of legal forms, the system will then filter the Customer No. to this value

    • If the value of this field is changed, then the system will always remove the value from the field:

      • Customer No.

      • Financing Product Type Code

      • Financing Product No.

      • Financing Template No.

  • Customer No.

    • Selects a user from the customer directory, which is filtered to the selected legal form, where it is possible to select not only by number, but also by other customer data.

    • If the user is creating a calculation, then an optional field. It is also possible to create an offer without selecting the customer number

    • If the user is creating a contract, then the required field

    • If the value of this field is changed, then the value in the Financing Template No. field will be deleted

    • When changing the customer number, the OC displays a message if the user really wants to change the customer. After confirmation, it performs the following actions:

      • Automatically overrides the customer number and customer name

      • If the user manually overrides Customer No., the OC will check if the new customer has the legal form that was selected in the previous field

      • If the legal form is suitable, it continues

      • If the legal form is not suitable, it will automatically change the legal form and change the name of the customer

    • When the contract is activated, the field must be filled in

  • Customer Name

    • The field is editable if Type = Calculation, otherwise it is not editable

    • It is automatically written over every time you change it Customer Numbers

    • Completes OC automatically if Customer No. has been selected

    • To be completed manually by the user, if the Customer No. has not been selected (it is not located in the customer directory)

    • Required field, without entering the user, the user cannot continue

  • Currency Code

    • Default value is blank (= local currency)

    • Selects the user from the currency table if they want to create an offer in a foreign currency

    • If the value of this field is changed, then the value in the field will be deleted

      • Financing Product No.

      • Financing Template No.

  • Commodity Code

    • Selects the user from the Catalogue Card Commodity table, which is filtered to valid and active records. The field is mandatory to select the right product

    • If the value of this field is changed, then the value in the field will be deleted

      • Group Code

      • Financing Product Type Code

      • Financing Product No.

      • Financing Template No.

      • Catalogue Card No.

  • Group Code

    • The user selects valid and active records from the Catalogue Group table, which is filtered to the selected commodity. The field is mandatory to select the right product

    • If the value of this field is changed, then the value in the field will be deleted

      • Financing Product Type Code

      • Financing Product No.

      • Financing Template No.

      • Catalogue Card No.

  • Used Financed Object

    • Editable field, default value N

    • Changes user to A if the calculation is based on a used object

  • ESG Object

    • Editable field, default value N

    • Change user to A if creating a calculation with green financing

    • Evidence Fields

  • Branch Code

    • The system pre-fills with the value from the user settings

    • The user can change it by selecting from the Branch table

  • Salesperson Code

    • The system pre-fills with the value from the user settings

    • If it is up to the customer (Customer card, Other tab) filled in the Branch Code field, the OC will take this value from the customer and copy the value that was originally drawn from the User Setup

    • The user can change by selecting from the Salesperson/Purchaser table

  • Financial Product Type Code

    • After selecting "Catalogue Card Groups", the system filters the "Financial Product Type" code list according to the following filters:

      • Contract with Services = NO

      • Financing Type

      • Legal Form Code

      • Commodity Code

      • Group Code

      • Valid From <= Current Date <= Valid To

    • If there is one matching record, then the system will automatically fill it in

    • If there are multiple matching records, then the user must select one

    • If the value of this field is changed, then the value in the field will be deleted

      • Financing Product No.

      • Financing Template No.

  • Financing Product No.

    • Selects the user from the Financing Products table.

    • When you click on the lookup, you will see a tab to select a financing product. The card consists of two parts:

      • Financing Product Identification (Filter Field)

      • Financing Product Subform.

...

After confirming the "Next" button, the system opens the 2nd step of the wizard, in which the editability of fields differs according to the type of financing

Step 2

Field:

  • Lease Term (in Months)

    • If only the Financing Product No. was entered

      • Completes the OC automatically according to the Financing Product No. from the Financing Period field – default from the financing product.

      • If the Financing Period-min is not reached, the system displays an error message and the user cannot continue

      • If the Financing Period-max is exceeded, the system displays an error message on the user cannot continue

      • If the check for min and max time has passed, the system will perform a check for the new financing period against the financing period-step on the product so that the new financing term must be a multiple of the step on the product. If it does not comply, it displays an error message and does not allow you to continue

    • If a Product Template No. has been entered

      • Completes the OC automatically according to the Financing Template No. from the Financing Period – Default field from the Financing Template.

      • If the Financing Period-min is not reached, the system displays an error message and the user cannot continue

      • If the Financing Period-max is exceeded, the system displays an error message on the user cannot continue

      • If the check for the min and max period passed, the system will check for the new financing period against the Financing Period-step on the template so that the new financing period must be a multiple of the step on the template. If it does not comply, it displays an error message and does not allow you to continue

    • An editable field.

    • After a value change

      • If REFI code is Optional = No Interest Rate Type field is filled in on the financing product, the OC will search for the new REFI code or rates related to the REFI code according to the description of the REFI code.

  • Payment Period

    • If only the Financing Product No. has been entered, the OC will be completed automatically according to the Financing Product Number.

    • If the Financing Template No. has also been entered, the OC will be completed automatically according to the Financing Template No.

    • The user can change the

  • Exchange Rate Contract of

    • The system will fill in the contract exchange rate date, for a description see the Contract Exchange Rate Date field on the financing contract card

    • Non-editable

  • Contract Exchange Rate

    • The system will automatically fill in the exchange rate if a foreign currency has been selected in the first step of the wizard, see fields for description Contract Exchange Rate On the Financing Contracts tab

    • Non-editable

  • Purchase Price Excl. VAT

    • If a financing template was not selected in step 1/3:

      • The system fills in the value of this field by recalculating the value of the field in the catalogue card Object List Price Excl. VAT (LCY) according to the exchange rate of the contract

    • If a financing template was selected in step 1/3 and a catalogue card was selected from the catalogue cards template:

      • so Purchase Price Excl.VAT to be fulfilled from the Object Promoted Price without VAT (LCY) field from this table.

    • The user can change the value of the field

    • After completing the wizard, the system will automatically create a calculation input for the purchase price of this amount

  • VAT Amount

    • The system determines the VAT rate:

      • For Financing Type=Credit: according to the IT VAT group settings in Financed Object Settings

      • For Financing Type=Other: according to the settings for the principal from the calculation

    • The system then calculates and fills in the value of this field from the Purchase Price Excl. VAT according to the exchange rate of the contract

    • It will be recalculated automatically when the Purchase Price Excl. VAT is changed

    • The user can change the value of the field

  • Purchase Price Incl. VAT

    • It is calculated automatically as the sum of Purchase Price Excl. VAT+VAT Amount

    • The system recalculates the value automatically with each change Purchase Price Excl. VAT or VAT Amount

    • The user cannot change the value of the field, it is not editable

  • Initial Fee excl. VAT

    • If only the Financing Product has been entered and the value of the Input Fee excl. VAT field is filled in in the Currency and Calculation Parameters table, the OC will automatically fill in the Entry Fee field in % from this field and calculate the value of the Entry Fee field in %

    • If a Financing Template has been entered and the value of the Initial Fee excl. VAT field is filled in in the Currency and Calculation Parameters table, the OC will automatically fill in the Input Fee field in % from this field and calculate the value of the Entry Fee field in %

    • The user can change the value of the field

    • After completing the wizard, the system will automatically create a calculation input for the entry fee

  • Initial Fee %

    • If only the Financing Product has been entered and the value of the Entry Fee in % field is filled in in the Currency and Calculation Parameters table, the OC will fill in automatically from this field and calculate the value of the Entry Fee excl. VAT field

    • If a Financing Template has been entered and the value of the Entry Fee in % field is filled in in the Currency and Calculation Parameters table, the OC will fill in automatically from this field and calculate the value of the Initial Fee Excl. VAT field

    • The user can change the value of the field

  • Amount Paid By Customer %

    • Empty by default

    • Editable for Financing Type=Loan, not for other types.

    • The user enters the %% value of the amount paid by the customer.

    • After entering/changing, the amount paid by the customer = Purchase price incl. VAT x (Amount paid by the customer % /100) is automatically recalculated

  • Amount Paid By Customer

    • Empty by default

    • Editable for Financing Type=Loan, not for other types.

    • The user enters the absolute value of the amount paid by the customer.

    • Amount paid by customer % = Amount paid by customer x 100 / Purchase price incl. VAT is automatically recalculated after entering/changing it Amount paid by customer % = Amount paid by customer x 100 / Purchase price incl. VAT

  • Down Payment %

    • If only Financing Product has been entered and the value of the Down Payment % field is filled in in the Currency and Calculation Parameters table, the OC will fill in automatically from this field and calculate the value of the Down Payment excl. VAT field

    • If a Financing Template has been entered and the value of the Down Payment field is filled in in the Currency and Calculation Parameters table, the OC will fill in automatically from this field and calculate the value of the Down Payment excl. VAT field

    • The user can change the value of the field for Financing Type=Financial Leasing, Instalment Sale or Operative Leasing

    • Non-editable for Financing Type=Loan

  • Down payment excl. VAT

    • If only the Financing Product has been entered and the value of the Down Payment excl. VAT field is filled in in the Currency and Calculation Parameters table, the OC will fill in automatically from this field and calculate the value of the Down Payment % field

    • If a Financing Template has been entered and the value of the Down Payment excl. VAT field is filled in in the Currency and Calculation Parameters table, the OC will fill in automatically from this field and calculate the value of the Down Payment % field

    • The user can change the value of the field for Financing Type=Financial Leasing, Instalment Sale or Operative Leasing

    • Non-editable for Financing Type=Loan

    • After tightening/changing the Purchase Price Excl. VAT or Down Payment %, it is recalculated automatically according to the formula:

      • Down Payment Excl. VAT = Purchase Price Excl. VAT x (Down Payment %/100)

  • Financed Value

    • Non-editable for all types of financing

    • The following is counted:

      • Financing Type=FL, OL, SP: Purchase Price Excl. VAT – Down Payment Excl. VAT

    • Financing Type=Credit: Purchase Price Incl. VAT - Amount Paid by Customer. It is recalculated when there is a change:

      • Purchase Price Excl. VAT

      • VAT Amount

      • Amount Paid By Customer

      • Down payment excl. VAT

    • If Down Payment-default is entered on the financing product (typically for Financial Leasing), it calculates as the difference Input Amount/Purchase Price – Down Payment excl. VAT

    • If the maximum loan to value (LTV) % is set on the financing product, the system checks whether the financed amount does not exceed the maximum financing limit to the base amount after changing this field

    • If the condition is not met (max. limit is exceeded), the system displays an error message and stops the contract creation process. After adjusting the amount funded, the user can continue

  • Residual Value excl. VAT

    • If only the Financing Product has been entered and the value of the Residual Value excl. VAT field is filled in in the Currency and Calculation Parameters table, the OC will be filled in automatically from this field

    • If a Financing Template has been entered and the value of the Down Payment Residual Value excl. VAT field is filled in in the Currency and Calculation Parameters table, the OC will be filled in automatically from this field

    • User can change the value of the field if the Residual Value Amount = A is allowed on the Financing Model, otherwise not

    • This is a calculation parameter that determines the installment amount of the sales price and the residual value in the financial calculation

...

After confirming the "Next" button, the system opens the 3rd step of the wizard:

Step 3

Field:

  • Interest Rate Type

    • If only the Financing Product has been entered, the OC will be completed automatically according to the Financing Product No. and Currency Code from the table Currency and calculation parameters:

    • If Blank and the Financing Product Type contains parameter Optional Financing=N, the user can choose from Fixed, Variable values

    • If the value is different from Blank, not editable.

    • If a Financing Template has been entered, the OC will be completed automatically according to the Financing Template No. and Currency Code from the table Currency and calculation parameters:

    • If Blank and the Financing Product Type contains parameter Optional Financing=N, the user can choose from Fixed, Variable values

    • If the value is different from Blank, not editable.

    • If the values were taken from a product/template, the system will try to find the REFI code automatically (description below)

    • If it was not taken from a product/template and the user selects it manually, the system will try to find the REFI code automatically (description below)

    • When changing the value manually, the system will also try to find a new REFI code:

    • If it finds it, it will add the Base Rate and Cost Rate rates from it.

    • If it does not find it, it deletes the original REFI code, but keeps the interest rates (for technical reasons, it is not possible to delete them).

    • When changing to an empty value, the original REFI code deletes but keeps the interest rates (for technical reasons it is not possible to delete them).

  • REFI Code

    • It is an optional field for the parameter Optional REFI code=A according to the Financing Product Type Code and the OC does not search for the REFI code.

    • If the parameter REFI code =N Optional on the Financing Product Type Code, then the system will find the REFI code as follows:

    • According to the following filters, it will find a matching REFI code:

      • Currency Code

        • There must be the same currency code in the calculation/contract as on the REFI code

      • Valid From

        • The "Valid from" date must be equal to or less than the Reference Date (when creating a calculation, the Reference Date is filled with workdate)

      • Valid To

        • The "Valid To" date must be blank, equal to or greater than the Reference Date

      • Interest Rate Type

        • Fixed, variable

        • The interest rate type must match the interest rate type of the REFI code.

      • Active=Yes (on REFI code)

    • If it does not find a matching REFI code, it displays a message and does not continue.

    • If it finds exactly one matching REFI code, it proceeds to check the REFI code rates:

      • For the given REFI code, there must be Base Rate and Cost Ratethat have:

        • Valid From

          • The "Valid from" date must be equal to or less than the Reference Date of the contract

        • Valid To

          • The "Valid To" date must be empty, equal to or greater than the Contract Reference Date

        • Base Rate i Cost Rate Can Have a Zero Value

        • Financing Period (month) must be Min. Leas. Sml.Contract From<=Financing Period<=Max. Period leas.sml.doLeas. Contract To

        • Active=A

      • If the Base Rate and Cost Rate are suitable, then they are taken into the wizard fields:

        • Basic Rate

        • Cost Rate

      • Then calculates:

        • Reference Interest=Base Rate+Cost Rate

        • Calculation Interest = Reference Interest + Interest Margin (Takes Margin from Product/Template)

    • If the system finds more matching REFI codes, then it ends and the user has to choose himself, with the same conditions as described above.

  • Basic Rate %  

    • Completes the system automatically according to the selected REFI code as described above

    • Non-user-editable field

  • Cost Interest %

    • Completes the system automatically according to the selected REFI code as described above

    • Non-user-editable field

  • Reference Interest %

    • Replenishes the system automatically:

    • Reference Interest=Base Rate+Cost Rate

    • It represents a rate that serves as a basis for the calculation of some financial indicators on the contract (IRR, DB)

    • Non-user-editable field

  • Interest Margin %

    • If only the Financing Product has been entered, the OC will be completed automatically according to the Financing Product No. and Currency Code from the table Currency and Calculation Parameters

    • If a Financing Template has been entered, the OC will be completed automatically according to the Financing Template No. and Currency Code from the table Currency and Calculation Parameters

    • Editable if the interest rate type is equal to Variable, the system then calculates the Calculation Interest %

  • Calculation Interest Rate % (p.a.)

    • The user manually enters the calculated interest rate in % if the Interest Rate Type is "Fixed" (i.e. an editable field in this case)

    • If the interest rate type is "Variable", the field is not user-editable. The value of the field is calculated automatically by the system based on the value entered in the Interest Margin % field.

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