Configuring basic information for financing records

  1. Open 'Quotation. Add Financing' (QUS116).
  2. Specify the financing code and, optionally, the product number, then click Create.
    Financing records without a product number can be used generically.
  3. Specify a description and, optionally, a name.
    If you do not specify a name, then, when you save the record, the description is copied to the name.
  4. Specify the status of the record:
    Option Description
    20 When creating the quotation, the sales executives can use this record.
    10 The record is still being prepared.
    90 The record has expired or is no longer required.
    The Responsible field indicates who is responsible for maintaining this record. This field is only for information purposes.
  5. To identify when financing is used, specify a validity date range.
    When the financing record is linked to a quotation, these dates are checked against the quotation validity dates.
  6. For financing type '3-Leasing' or '4-IRR', optionally, assign an ID number to the financing record.
    This information can be used as a reference for an external leasing or financing company.
  7. For financing type '3-Leasing' or '4-IRR', to identify the company responsible for the financing, specify the funder.
    The funder must be a valid customer record in 'Customer. Open' (CRS610).
  8. For financing type '2-Rental', specify the internal customer who owns the equipment during the rental period.
    The internal customer must be a valid customer record in (CRS610).
  9. To create a leasing or rental agreement, specify an agreement order type defined in 'Rental Agreement Order Type. Open' (STS020).
  10. For financing type '3-Leasing', specify the kit number defined in 'Leasing Agreement Kit. Open' (LTS450).
  11. Specify the number of months during which the leasing or rental agreement is valid.
  12. Optionally, specify the residual value of the equipment as a percentage.
    This value is the expected percentage at the end of the financing period, that is, after the number of months defined above.
    In 'Leasing Interest Type. Open' (LTS402), you can define the interest type. This information identifies the interest percentage and is used as a default value for the creation of leasing and rental agreements. The field is not displayed for financing type '2-Rental' or '4-IRR'.
  13. If required, modify the interest rate.
    The interest rate is retrieved from the interest type and is used to create leasing and rental agreements. You can specify the item group, the product group, the industrial application, the environment, the customer, and the customer group against the record. This information is used as search criteria when searching for financing, for example, by equipment type. The interest rate and interest type are not displayed for financing type'4-IRR'. Instead, IRR field is used to set the internal rate of return.
  14. If you want a record to be automatically added to the quotation upon creation, select the Default record check box.
    To differentiate between new and used equipment, you can choose to use a default record based on the category of the equipment. To do this, select '2-New' or '3-Used' in the Default record field.
  15. To save the record, click Next.