Broker [U0219]

Broker is a type of LeasePak client. If you are a beginning LeasePak user or have not yet worked with LeasePak clients, first read the document LeasePak Client for introductory information on how to add, change, and delete LeasePak clients.

Contents

• Deletion Restrictions
  
  
• Broker Tabs
• Address Tab
• Miscellaneous Tab
• Remit Tab

 

Introduction

A broker is a business or individual to which a fee may be paid in association with a new lease. The Broker update is used to add, change, or delete broker information. When adding a broker, the user may either add the broker as a completely new client (if the broker does not exist in the system in any form), or as a new relationship for an existing client (if the broker already exists in the system, but only as a vendor, guarantor, etc.). For more information on clients and relationships, refer to LeasePak Key Structure.

If Client Cloning Module is purchased, t

The option of cloning a new broker from an existing broker will be available through Client Search screen.

Once a broker has been added to the system, it may then be associated with multiple applications and/or leases, used in calculation of fees, and/or used for ad-hoc reports. Note that a broker is independent of portfolio, company, region, and office. That is, the same Broker number may be assigned to applications and/or leases in different portfolios, companies, regions, and/or offices.

As with all client relationships, the Broker number is an up-to-9-character alphanumeric field, which must be unique system-wide. It may be assigned automatically by LeasePak (an increasing sequential number) or entered by the user. The CLIENT NUMBERING METHOD (system assigned or user entered) is specified through the Miscellaneous option of the Custom General update [U0712].

LeasePak’s terminology "broker" may be changed through the Account Customizations option of the Custom General update [U0712]. Refer to the Custom General update [U0712] for more information on defining account aliases.

 

Deletion Restrictions

A broker may not be deleted if currently assigned to any lease or application.

 

Broker Address Tab

• NUMBER
  If adding an entirely new broker, a broker number may be entered here. For an entry defaulted from another client or for a previously entered broker being changed, the number is displayed.

Note: The ability to change the Broker number when adding a new broker is determined by the CLIENT NUMBERING METHOD (as set up in the Custom General update [U0712]), and the user’s security (as set up in the Security update [U0706]). If the CLIENT NUMBERING METHOD is set up for manual entry, a new Broker number may be entered by any user with the ability to access this update. Else, if the CLIENT NUMBERING METHOD is not set up for manual entry, the new Broker number automatically assigned may only be changed by a user having sufficient privilege. Refer to the Security update [U0706] or Custom General update [U0712] for more information.

• SHORT NAME
  Enter or change the short name for this broker.
  
  Note that this field is at the client level, therefore changes will affect all relationships for the client. For example, if the broker being added or changed also exists on the system as a vendor (same client number), then a change to the short name here would also affect the short name for the vendor relationship. When other relationships are affected, a warning message will be displayed.

Note: Since the short name will be used for the client search, it is suggested that personal names be entered in the following order:

Last, First, Middle (e.g. Smith, John L.)

If the ALLOW CLIENT RECORD NAME CHANGES switch in the Security [U0706] update is not selected, the user will be restricted from changing the short name of an existing Broker and the field will be display only.

• SS/BUS ID
  Enter or change the social security/business ID number for this broker, if available. If the SS/BUS ID search field was entered in screen 1 and no clients were found or no client was selected in screen 2, the SS/BUS ID entered in screen 1 is defaulted here. Refer to screens 1 and 2 for more information.
  
  Note that this field is at the client level, therefore changes will affect all relationships for the client. For example, if the broker being added or changed also exists on the system as a lessee (same client number), then a change to the SS/ BUS ID here would also affect the SS/BUS ID for the lessee relationship. When other relationships are affected, a warning message will be displayed.

Note: If the ALLOW CLIENT RECORD NAME CHANGES switch in the Security [U0706] update is not selected, the user will be restricted from changing the SS/BUS ID of an existing Broker and the field will be display only.

• NAME
  Enter or change the name for the broker.

Note: If the ALLOW CLIENT RECORD NAME CHANGES switch in the Security [U0706] update is not selected, the user will be restricted from changing the name of an existing Broker and the field will be display only.

• ADDRESS 1
  Enter or change the first address line of the broker. Use this field if there is only one address line.

• ADDRESS 2
  Enter or change the second address line of the broker, if available.

• CITY
  Enter or change the city of the broker.

• STATE
  Enter or change the state of the broker. Press HELP for a list of valid states. Must be a valid post office abbreviation.

Note: For locations where states do not exist, a "free form" code of FF may be entered. When addresses using FF are printed on reports, the state is blank.

• ZIP
  Enter or change the ZIP or postal code of the broker.

• For U.S. use 5 or 9 digits
• For Canada use 6 characters (alternating letters and numbers)
• For Mexico use 5 digits
• For other locations any entry is accepted, or field may be blank
  
  
• PHONE
  Enter or change the area code and phone number of the broker. The phone number must be entered if the area code is entered.

• EMAIL
  Enter or change the email address of the broker. The email address allows up to 50 alphanumeric characters to be entered.
  
  
• CONTACT NAME
  Enter or change the name of the contact person for this broker.

• CONTACT TITLE
  Enter or change the title of the contact person.

 

Broker Miscellaneous Tab

The second tab of the Broker update is labeled Miscellaneous. Two required fields appear here: DEFAULT PORTFOLIO and ACTIVITY STATUS.

Field Descriptions

• DEFAULT PORTFOLIO
  Enter the default portfolio for this broker. This field is required. Note that while brokers are generally independent of portfolios, PORTFOLIO may be used to limit an operator’s security to certain brokers. For example, if an operator’s security is defined for portfolio 1, then that operator will only be able to access and use brokers which have a portfolio of 1. Operators who have no security restrictions will be able to access all brokers regardless of the DEF PORT field. To see a list of valid portfolios press HELP. Refer to the Security update [U0706] for more information on defining portfolio security for operators.

• DEF COMP
  Enter the default company for this broker. This field is optional. This field may be used to limit an operator’s security to certain brokers.

• DEF REGN
  Enter the default region for this broker. This field is optional. It may be used to limit an operator’s security to certain brokers.

• DEF OFFCE
  Enter the default office for this broker. This field is optional. It may be used to limit an operator’s security to certain brokers.

• LETTER VERSION
  This field can be used in conjuction with the user's own letter-generating software.

• ACTIVITY STAT
  Enter the broker activity status. This field is required to add a new broker. Statuses are defined with the Custom Code update [U0722]. Use Help for a list of valid activity status codes.

 

Broker Remittance Tab

The third tab, Remit, contains no required data. Its purpose is to record the broker’s name and address which will default to check disbursal for broker fees being paid to this broker. If no remit information is entered here, it must be entered on the Disburse Check screens.

Field Descriptions

• REMIT NAME
  Enter or change the name to be used when remitting a payable to the broker.

• REMIT TYPE
  Enter or change the remittance type code for the broker. This code indicates the method of payment used for remitting any payable to the broker. Press HELP for a list of valid remittance types. Remittance types may be established using the Custom Codes update [U0722].

• REMIT ADDRESS 1
  Enter or change the first address line of the address to which all broker remittances will be sent. Use this field if there is only one address line.

• REMIT ADDRESS 2
  Enter or change the second address line of the address to which all broker remittances will be sent.

• REMIT CITY
  Enter or change the city to which all broker remittances will be sent.

• REMIT STATE
  Enter or change the state to which all broker remittances will be sent. Press HELP for a list of valid states. REMIT STATE must be a valid post office abbreviation.

Note: For locations where states do not exist, a "free form" code of FF may be entered. When addresses using FF are printed on invoices or reports, the state is blank.

• REMIT ZIP
  Enter or change the ZIP or postal code of the broker.

• For U.S. use 5 or 9 digits
• For Canada use 6 characters (alternating letters and numbers)
• For Mexico use 5 digits
• For other locations any entry is accepted, or field may be blank

 

LeasePak  Reference Guide

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