Drawdown Tracking [U0801]

This is part of the Application [U08] group. For an introduction to these updates and links to all the Application documents, refer to Application Tracking [U0801].

 

The Drawdown Tracking module is a separately purchased module of LeasePak. This new module works in conjunction with the Application Tracking and Cloning modules.

Drawdown Tracking allows for multiple lines of credit per lessee through a "master application" concept. The user sets up a master application by approving an application for the full amount of the line of credit and then executing a status transfer to a special user defined status (DMAS). Once an application is in this status, it cannot be booked or altered.

In order to drawdown from this line of credit, the user will clone new applications from the master application and set the acquisition cost of the new applications to the amount desired to drawdown from. LeasePak will approve the application based on the line of credit available, the expiration date and standard credit approval rules. This new application is set up as a sub-application of the master application that was entered in DMAS status.

This module also includes enhanced customer exposure credit approval rules. Currently, LeasePak will not allow a user to approve an application if the acquisition cost of the application exceeds the user’s credit approval limit. LeasePak also will not allow a user to approve an application if the acquisition cost exceeds the lessee’s/customer’s credit limit.

The Customer Exposure module performs edit checks that verify that if the acquisition cost of the current application plus the total exposure balance for the lessee/customer exceeds the user’s credit approval limit, the application cannot be approved by this person.

Drawdown tracking and customer exposure enforcement can be turned on/off at the portfolio level. The user must have the Cloning Enhancement.

Various parameters need to be set prior to entering a master application. These parameters are located in the following functions:

• Application User Profile [U0831]
• Application Portfolio [U0822]
• Application Field Security [U0814]
• Application Flow [U0812]
• Application Status [U0811]
• Lessee [U0203]
• Customer [U0205]

A new Master Application may be entered when MASTER is selected from the Application menu bar under NEW.

When MASTER is selected the following screen will appear:

This screen allows the user to enter a drawdown application template. Any type of application may be used as a default ‘Template Application’, Normal, master or drawdown.

• TEMPLATE APPLICATION
  Enter the template application to default and select OK. Use the Help button for a list of valid clients. If no template application number is entered or desired, select OK for a New Master Application.

 

The Application Tabs are used to add, change, or view a master application. Please refer to the Application Tabs [U0801] document for more information.

Once a master application has been added, its status must be transferred first to an approved status, then to DMAS. It can then be used as the master/default application for associated sub-applications.

The user starts the sub-application by selecting Sub from Application/New.

When this screen appears, the user must enter the master application number as the template application in order for the sub-application to be associated with the master.

The sub-application will automatically transfer to the status setup in the Application Portfolio update [U0822]. This is usually an approved status - the idea being that the lessee is automatically approved as long as the master line of credit lasts.

When the sub-application is booked, the master line of credit is decreased by the acquisition cost of the sub-application.

 

LeasePak  Reference Guide

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