To fund a retail contract or a lease agreement, complete the following steps:
1. Place the cursor on the Transaction tab.
The types of transactions you can enter display below the tabs.
2.
Click Contract Proceeds.
The Contract Proceeds: Enter Contract Information screen displays.
3. Type the Application # and VIN. Up to 10 contracts can be entered at one time.
4. Click the Submit button.
The Contract Proceeds: Request Funding screen displays. All transactions will be selected (checked) for processing. If a transaction should not be processed, unselect (uncheck) the transaction.
If a Miscellaneous from Dealer Acquisition Fee transaction was created automatically, the Acq Fee field will display the amount and a dollar sign ($) is displayed next to the unit on the Contract Proceeds: Confirm Funding screen. The following message is also displayed at the bottom:
$ A Misc from Dealer Acquisition Fee will be automatically generated for this application number.
5. Type information in the Amt to Fund and Description fields for each selected item. The Description field is optional.
The Customer Name field can be modified.
If an open wholesale unit is found and require wholesale payoffs is turned on for current dealer profile, a Wholesale Payoff transaction is created automatically. A Wholesale Payoff will also be created for open conversion units.
When the required wholesale payoffs flag is turned on, an exclamation mark (!) is displayed next to the unit on the Contract Proceeds: Request Funding screen to alert that a Wholesale Payoff transaction will be created. The following message is also displayed at the bottom of the screen:
! Open w/s unit. Wholesale payoff transaction(s) will be generated for all units with outstanding wholesale balance(s).
Note: To return to the Contract Proceeds: Enter Contract Information screen in order to modify previously entered information, click the Back button.
6. Click the Submit button.
The Contract Proceeds: Confirm Funding screen displays. Refer to the Editing Transactions section for information about making changes to a transaction. Refer to the Deleting Transactions section for information about deleting a transaction.
If a Wholesale Payoff transaction was created automatically, an exclamation mark (!) is displayed next to the unit on the Contract Proceeds: Confirm Funding screen. The following message is also displayed at the bottom:
! System generated WSPO. Wholesale Payoff transactions can be viewed on the Pending Transaction screen or Daily Record report.
If a Miscellaneous from Dealer Acquisition Fee transaction was created automatically, the Acq Fee field will display the amount and a dollar sign ($) is displayed next to the unit on the Contract Proceeds: Confirm Funding screen. The following message is also displayed at the bottom:
! System generated Misc from Dealer-Acquisition Fee transactions can be viewed on the Pending Transaction screen or Daily Record report.