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
1: Fill in the Client's personal details and all other mandatory details. To learn about these, click here. Where relevant, enter the 2nd person details as well.To learn how to enable 2nd person, click here.
Create Client Dependents
1: Click Add, a new line will be created.
2: Enter the name and D.O.B of the dependent. The age will be calculated.
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 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: 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 separate debt for Vehicle Hired Purchase and mortgage 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.
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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