Creating a New Debt Client entry
A new client can be created with each step created in any order, however for the a payment plan to be most realistic and based on a client's financial situation, it is recommended to use the Debt Creation Flow method listed below. A permission needs to be allowed in order to use it. Click here to learn how to enable.
Create a new Client
1: Click New Client from the Menu - a Client window will open.
NOTE: Some Users may only be able to access the New Client button from within the Search screen window.
Enter the Client's personal Details
Create Client Dependants
1: Click Add, a new line will be created.
2: Enter the name and D.O.B of the dependant. The age will be calculated.
3: Click Next - you will be redirected to the Income Source tab.
Add Income Sources
The list is pre-populated with Income Source types that were set up like this in the Admin.
1: Enter the amount and frequency of the Income.
2: If no more Income Sources are required, click Next - you will be redirected to the Expenses tab.
3: If the client has other Income sources not yet listed, click Add, the Income Source Types window will open.
Add more Income Sources
1: Click Add - a new line will be added.
2: Enter a description.
3:Click OK - the window will close, Click Next to continue.
Add client's Expenses
The list is pre-populated with expense types set up here.
1: Enter the amount and frequencies.
2: If no other Expenses are required, click Next, you will be redirected to the Debts window.
3: To add other Expenses for the client, click Add - the Expense Type window will open.
Add more client Expenses
1: Click Add, a new line will be added.
2: Enter a description.
3: Click OK, the window will close, click Next to continue.
Create the Debts
1: An entry has been created.
2: Click ... select a creditor from the Creditor window that will open.
3: Enter the debt details.
4: Select a Status from the drop- down list. Click here to learn how to add statuses.
5: Select a Interest Status from the drop- down list. Click here to learn how to add statuses.
6: To create more Debts click Add and repeat the above steps. (Remember to add a seprate debt for Vehicle Hired Purchase debts)
7: Click Next - you will be redirected to the Asset tab.
Adding Assets
1: Click Add - the Add Asset window will open.
There are 3 asset types; Simple, Property, Vehicle
Adding a Simple Asset
1 - Select Simple from the drop-down list.
2 - Add a description and a Value for the Asset.
3 - Click OK to close the window.
Adding a Property
1: Select Property from the drop-down list.
2: Enter the property details.
3: Select the creditor associated with this Mortgage. (A debt must exist for the amount borrowed against this property.)
4: Choose the which of the Client persons own the property (used when there a 2nd person was added)
5: The equity is a calculated field. 85% of property allowed loan value (this rate will be adjustable in future releases) - secured loan balance - mortgage balance. The amount is halved when the property has joint ownership.
6: Click OK to save the property and close the window.
Adding a Vehicle
1: Select Vehicle from the drop-down list.
2: Fill in the details.
3: Select the creditor associated with this Hired Purchase Debt. (A debt must exist for the amount borrowed for the purchase of this vehicle)
4: Click OK to save and close the window.
Go to the Payment Plan screen
1: Click Next - you will be redirected to the Payment Plan window.
Create the Payment plan
1: Click Create Payment Schedule - a new window will open.
Set the schedule
The program will display a calculated best schedule which the user can adjust.
1: Select which Balance to use.
2: Enter the required amounts and dates.
3: These fields are auto - calculated.
4: Click Adjust - the window will close.
Complete
The Payment Schedule is displayed and if a Payment Schedule Action was set up here, the actions are entered into the Debt To Do list.
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