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It 's possible to do basic setup of Financial Leasing App in section OneCore Setup. In OneCore Setup you manage the basic conditions and terms such as posting, guarantee types, contract documents, branches, contract transfer reasons, sale codes, numbering, non-working days, public holidays and withdrawal slips.

The setup could be done by the wizard or manually from Setup menu.

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There are 2 parts of OneCore Setup - From the upper menu section and card sections.

OneCore setup upper menu section

OneCore Posting Setup

The posting setting is described here.

Guarantee types

The list of Guarantee types used in financing contract. All guarantees which are set up in this section, you can choose during the process of the loan creating. New types are added by button New.

Contract Documents

It is possible to set up the workflow process according to which document from which customer (Legal Entity, Individual Non-Entrepreneur, Individual Entrepreneur) and in which contract status is needed to approve the contract.

Branches

The list of Internal or External branches of your company.

General Terms and Conditions

Specifies general terms and conditions of the Loans.

Contract Transfer Reasons

The contract could be transfered from different reasons (as insolvency, takeover, death,..). There is the list of these reasons. The new one could be added by the button New.

Standard Sale Codes OneCore

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OneCore setup card section

General

Contract Dimension Code - to set up Dimension in financing contract e.g. CONTRACT
Default Offer Validity Period - how long is the offer valid
Initial Fee Payment Terms - Default Payment Term for the Initial Fee Invoice
Initial Fee Standard OneCore Sales Code - Default Sales Code for the Initial Fee Invoice

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Numbering

The numbering of Contracts allows you to use default values or change the numbers codes in Calculation status and Guarantees for contract.

It is done in "No. Series List" table where you can create new series number for documents by button New.

It is neccesary to set up by making the selection active if the numbering of documents (No. Series) would be done automatically by the system - Default Nos. or manually Manual Nos..

Starting No. - it is used for first document number. If the numbering is "Default Nos" the system will automatically increments the document number by one.
Ending No. - if it is filled the system notifies you of the ending series.

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Contract Transfer

It is possible to define Transfer Fee Payment Term and Transfer Fee Standard OneCore Sales Code in case of Contract Transfer.

For more information follow How to work with contract changes.

Non-working days

The system offers you the possibility to setup:

working and non-working days
all public holidays

to calculate Due Date in Payment calendar as first working day after standard calculated Due Date according to the Contract payment term. To set up non-working days, put button on. To set up holidays, choose exact day from the calendar and write short description (as 1/1/2022 - New Year)

For more information follow How to set up working days, public holiday.

Withdrawal Slip

For posting drawing of the Loan, the Credit memo feature is used. It must be filled "General Journal Template", "General Journal Batch" and "Temp Receivable Account" as G/L account for clearing.

is necessary to set up the postings to G/L accounts where Loan repayments (Principal, Interest, Services, Insurance) should be posted. The selected account will be result of the Gen.Bus Posting Group a Gen.Prod. Posting Group combination. The combination could be time limited.

The posting groups are defined in Financing product card and can be edited in calculation status in Financing Contract Card or Financing product card. It means that every loan could be posted to different G/L accounts according to filled Posting groups in Financing Contract Card.

Check the Example of the Posting Setup bellow.

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Posting Groups

The posting groups map entities such as customers, vendors, items, resources, and sales and purchase documents to general ledger accounts. It saves time and helps avoid mistakes when you post transactions. The transaction values go to the accounts specified in the posting group for that particular entity. The only requirement is that you have a chart of accounts. More details here.