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TFS User Guide - Table of Contents

Documentation Disclaimer

The Contract Overview screen allows you to view a snapshot of the current progress of the contract, and to setup direct debit information and penalty clauses should a contract payment be late.

Opening the Contract Overview Screen - Click here to expand...

These options are only available if the currently selected application is a Loan Book application.

From the Loan Contract menu select Overview.

From the sidebar select Loan Contract then Overview.

General Group - Click here to expand...

Lists basic details about the contract, including application and contract numbers, contract stage, and status. The contract number can be modified.

The Contract # field is the same field labelled Account Number on the Application Overview screen If searching for a contract number on the Search dialog, set the Advanced Search drop-down list to Account/Contract Number.

Contract Details Group - Click here to expand...

Displays basic repayment information for the application.

Use the Contract Details jump button to open the Calculations screen.

Work Flow Group - Click here to expand...

Relevant work flow dates for the contract. To cancel a contract, enter a date into the Cancelled field.

Use the Work Flow jump button to open the Application Work Flow screen

PPSR Group - Click here to expand...

PPSR (Personal Property Securities Register): If all PPSR has been completed for all assets listed in the Asset list, change the Complete field to Yes.

PPSR is an electronic register that allows security interests in personal property to be registered and searched. It gives creditors a better chance of recovering a debt if the debtor defaults. See Personal Property Securities Register (www.ppsr.gov.au).

Payment Details Group - Click here to expand...

Number and value of payments that are paid, due and not currently due. This includes any penalty amounts.

- The Paid column is the sum of the Amount field in the Paid group of the Revenue dialog and not the total of the revenue. A variance between the two is possible.
- The Due column is the sum of the revenue total

Next Repayment Group - Click here to expand...

Next Repayment: Displays details about the upcoming payment.

Use the Next Repayment jump button to open the Calculations screen.

Revenue - Late Payment Fee - Click here to expand...

If a late payment fee is applied to an overdue payment, then the Applies? field must be set to Yes and the late payment amount entered along with GST details and the frequency of the late payment fee. Typically the fee for a late payment is determined at settlement.

Revenue - Penalty Interest - Click here to expand...

If penalty interest is applied to an overdue payment, then the Applies? field must be set to Yes and the penalty interest value entered along with GST details and the frequency of the penalty. Typically the penalty interest rate is determined at settlement.

It is possible that both a late payment fee and penalty interest would apply when a payment is late. If both are applied, they would appear as two separate revenue items on the Revenue/Invoice screen (see Revenue/Invoice).

Revenue - Payout Discount: - Click here to expand...

The client bank account record selected for direct debit payments. Click the Account Name popup dialog button to select an account (accounts are created on the Client Accounts screen (see Client Accounts)). The Repayment Due On field can be used to determine the exact day of the month money is automatically transferred from a client's bank account. The Repayment Due On field must be greater than or equal to the Settlement Actual day.

Direct Debit Group - Click here to expand...

The client bank account record selected for direct debit payments. Click the Account Name popup dialog button to select an account (accounts are created on the Client Accounts screen (see Client Accounts)). The Repayment Due On field can be used to determine the exact day of the month money is automatically transferred from a client's bank account. The Repayment Due On field must be greater than or equal to the Settlement Actual day.

Use the Direct Debit jump button to open the Client Accounts screen.

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