Create a New Application
- Matthew Garrett
The New Application Wizard is designed to help users enter a new finance application for a client.
Creating the new application involves the following steps;
The General tab allows users to enter basic information about the application.
When the application is created it populates the General information with the preferences set in TFS Administration. They can be changed. By default, the primary contact will be shown as the applicant.
- Click the Contact popup button (
). The Select Contact dialog will be displayed.
- Select the required contact.
- Click the OK button.
- Click the Contract Type popup button (
). The Select Contract Type dialog will be displayed.
- Select the required contract type.
- Click the OK button.
- Click the Purpose popup button . The Select Application Purpose dialog will be displayed.
- Select the required application purpose.
- Click the OK button.
- Click the Broker popup button (
). The Select Broker dialog will be displayed.
- Select the required broker.
- Click the OK button.
- Click theTeam popup button (
) . The Select Team dialog will be displayed.
- Select the required team.
- Click the OK button.
IMPORTANT CONCEPTS
- Number: the application number. This can be modified but must be unique.
- External?: indicates that the application has been financed through a different broker. It allows the broker to build a comprehensive commitment schedule for the client.
- Enforce Rules?: Toggle Yes/No. Allows users to enter repayment amounts manually. If set to Yes, TFS will automatically handle repayments.
The Services tab lists important associates for the application. TFS lists the following as service providers:
- Valuers
- Agents
- Accountants
- Solicitors
- Banks
- Referrers
- Insurers
- Select the Company popup button (
) next to the service that you wish to change. The Select [Service Provider]dialog will be displayed. - From the Entity Role drop-down list, select the required role, such as 'Accountant'.
- Enter all or part of the entity's name in the Name field to further filter the Entity list.
From the Entity list (i.e., Accountant, Solicitor, Bank, etc.), select the required service.
If a service provider and their contacts are not in the system, they can be added using the New button (
) on the Select Service Provider toolbar.- If you know the name of the contact and it is displayed in the list, select the required contact from the Contacts list.
- Click the OK button.
The Financier tab allows users to select the financier and finance method for the finance application.
- Click on the Method popup button (
). The Select Finance dialog is displayed. 
- Click the drop-down button next to Financier, and the available Financiers will be shown
You can use the cursor arrows to move through them, or you can enter the first letter of the financier to jump to that part of the list. - When you have selected the Financier, optionally, you can select the Contact Person.
If required you can change the State for the Finance Type.
The default State is set in TFS Administration.
- The Finance Method's will filter down to this that are available.
Select the required Finance Method and click OK
IMPORTANT CONCEPTS
- Undisclosed? Field: When this field is set to No, the financier will be shown on the application reports. When this field is set to Yes, the broker, and not the financier, will appear on the application reports.
The Goods Details tab allows users to enter specific information about the item being financed.
The Goods Details tab is split into five tabs:
- General: Details the type and cost of the asset including the cost of goods. The description dynamically changes depending on the type of good. The example shown is Motor Vehicle.
- Location: Details the location of the asset.
- Services: Information regarding the asset's vendor or supplier.
- Depreciation: Information regarding the asset's depreciation.
- Notes: Written description of the asset.
The Assign from Register option will only display if the TFS Licence includes the Asset Register module. This module allows you to manage the leasing of assets.
The General tab allows you to enter details about the goods such as whether it is new or used, the year, and make and model numbers. The fields contained on this tab depend on the type of good chosen.
You can enter the Cost of Goods at the Net or Total.
The Location tab is used to enter the details of where the goods will be located. Click the Copy button 
if the location is the same as the client address details.
The Online Map popup button can be used to open Google Maps.
The Services tab is used to enter the supplier details.
The Depreciation tab is used to enter asset depreciation details such as the method, starting values and the asset's effective life.
Depreciation Group
Field | Description |
|---|---|
Depreciation Method | Method for depreciating an asset. Options include:
|
Depreciation Rate | Rate of depreciation for the asset. This value is automatically calculated once the Effective Life (Years) and Depreciation Method fields have been entered. |
Starting Value | Starting value of the asset. Click the Copy button to transfer the Total value on the General tab of the Goods Detailsdialog. Note: If the good is a luxury vehicle and there is claimable GST amount, the Starting Value will be the Total Cost minus Claimable GST. |
Start Depreciation | Date depreciation begins. |
Effective Life (Years) | Expected life of the asset. |
The Notes tab is used to enter any notes about the goods.
If notes were entered on the General tab's Application Short Description field, they would be copied to the Notes tab.
How to Finalise the Finance Application Wizard
To finalise the finance application:
- Click the Finish button. The Calculations screen will be displayed.