Quote Finance & Fees: Other
Finance calculations, rates, commissions, and fee configuration
Refresh Base Rate
When the Refresh Base Rate button is clicked, the system will compare the Financier Rates table for latest corresponding Base Rate for the Supplier (Financier) / Term / Lower Limit / Upper Limit combination against the equivalent quote fields.
The System Date is used to compare to (not Quote Date or Quote Effective Date).
If the setting is the same as the Quote "Base Rate", a message will be displayed advising: "Nothing to update!" No further action is required.
If the differs from:
If the Quote or Contract cannot be locked, or Billing is in progress, no changes will be made to the Quote or linked Contract and a message will be displayed: "Locked by: {user_login}"
If the Quote or Contract can be locked, and Billing is not in progress, the following fields will be updated and recalculated using the new "Financier Rate" (refreshed "Base Rate" plus "Client Margin"):
Updated Fields
Quote Fields
Base Rate
Financier Rate
Lessee Rate
Finance Exc GST
GST
Budget Net
Budget GST
FBT Value (if Quote "FBT Type" = 'operating')
Conditional Updates
Depending on Global Control settings the following values may also update:
Commission Rate
Commission Fee
Luxury Car Charge
Redundancy Insurance
Contract Fields
Initial Payment
Regular Payment
Deferred Interest
Amount Financed
Interest Rate
Finance Rate
Total Brokerage
Contract Payment Structure/Schedule Fields (if created)
Total Payments
Payment Schedule Finance
Payment Schedule GST
Contract Budget Fields (for Posting Class Code 'FIN')
Finance (Next) Net
Finance (Next) GST
The Quote/Contract Lock will be released once all updates are complete and a message will be displayed advising: "Base Rate updated."
Note: this differs from the Settle process because that process updates numerous other fields where this process targets the Finance Rental component.
Audit History
Audit History of changes will be recorded. A "Reference" comment of "Refresh Base Rate" will be added to the fields updated.
Validation Rules
The Refresh Base Rate calculations will work only when:
Rule 1: Contract Type / Accruals is linked to Posting Class Code 'FIN', AND
Rule 2: Quote is linked to a Contract, AND
Rule 3: a) Contract Start date is blank, OR b) Contract Status = yes AND
Rule 4: There are no Contracts / Lease records at 'posted' status, AND
Rule 5: There are no Contracts / Payments 'Finance' or 'Finance - Principal and Interest' records at 'posted' status.
Validation Messages
The following validation messages are displayed when their corresponding rules fail:
Rule 1: Contract Type / Accruals is not linked to Posting Class Code 'FIN'
Rule 2: Quote is not linked to Contract
Rule 3: Base rate refresh disabled for Contract #{contract_id}
Rule 4: Linked Contract #{contract_id} has started
Rule 5: Contract #{contract_id} has posted budgets or payments
Other Notes
Editing a Quote after "Refresh Base Rate" clicked:
If a quote is edited after "Refresh Base Rate" has been executed, users should note that updating the Effective Date, Contract Type, Term, Financier or Client will trigger the system to re-load the applicable Contract Type / Financier defaults (Setup / Reference Data -> table name qtfinancierpostingmapdefaults) which may update the Base Rate. This update will not automatically update the contract. User should click Settle button to update contract fields.
RefreshQuoteBaseRate API
This API replicates the action of the Quotes / Finance [Refresh Base Rate] button. This refreshes the Quotes / Finance "Base Rate" of a quote and its corresponding contract. Visit Refresh Base Rate to see the full details.
Permissions
To run this API, the nominated 'web-services' role needs to be given permission.
If you are not actively using the API, leave the permission off for better security.
Go to Roles / Apis and check on Quotes:RefreshBaseRate.
Authentication
Authenticate with the API before running this API.
HTTP Method
Use the HTTP Method 'POST' for consuming this web service.
URL Examples
https://api.catch-e.com/qt/quotes/{quote_id}/refresh-base-rate Path Variables
Headers
Response Details
Commission
The system can be set-up to return calculated values for the commission rate and fee. These are triggered when Include Commission flag is checked.
Changing any of the following fields will trigger a recalculation of the commission rate and fee: Effective Date, Contract Type, Term (Months), Client Code or Financier.
Open the commission model to see how the commission calculates using different settings.
Order of Rules
The following describes the order that rules are applied in to calculate the commission rate and fee of a quote:
Rule 1: Setup / Reference Data → qtfinancierpostingmapdefaults → Detail "Include Commission"
If unchecked, the Quotes / Finance "Commission Rate / Fee" fields are set to 0.00 and the fields are disabled.
If checked, continue to next step
Rule 2: If Clients / Quote Defaults "Agreed Lessee Rate"
If populated, then Quotes / Finance "Commission Rate / Fee" are updated to achieve the "Agreed Lessee Rate".
If not populated, continue to next step
Rule 3: If Setup / Reference Data → qtfinancierpostingmapdefaults → Detail "Commission %"
If populated, this will be calculated and applied to the quote (the Commission rate (%) selected will use the record where the term is equal to, or lower than the term entered in the quote)
If not populated, continue to next step
Rule 4: If Clients / Quote Defaults "Commission Rate"
If populated, this will be calculated and applied to the quote
If not populated, continue to next step
Rule 5: If Setup / Reference Data → gbcontrols "novatedcommission_rate"
If populated, this will be calculated and applied to the quote
If not populated, then Quotes / Finance "Commission Rate / Fee" will be set to 0.00.
Rule 6: If Setup / Reference Data → qtfinancierpostingmapdefaults → Detail "Commission Max" and/or "Commission Max %" are populated and the calculated commission is lower than the stored commission in the quote, then the lower, calculated commission will be applied to the quote.
The value nominated in the Setup / Reference Data → gbcontrols "commissionrate_basis" field is used as the base rate for this calculation (i.e. 'Depreciable Amount', 'Amount Financed' or 'On Road Price').
"Commission Max %" is calculated using the Setup / Reference Data → qtfinancierpostingmapdefaults → Detail "Commission Max Basis" setting. This basis is separate from the Global Control "commissionratebasis" because this calculation is typically dictated by the Financier.
Note: When Setup / Reference Data → gbcontrols "redundancyinsurance_basis" is also set to 'Amount Financed', the Quotes / Finance "Commission Fee" is calculated after "Redundancy Insurance".
When the Rules are Triggered
The calculation in the commission model and the rules above are triggered in a quote in the following scenarios:
When a quote is created by a user in the system or by running the CreateQuotes api.
When the "Effective Date" or the "Client Code" is changed
When the "Type Code", "Term (Months)" or "Financier" is changed AND Setup / Reference Data → qtfinancierpostingmapdefaults "Novated Commission %" is populated.
When the "Type Code", "Term (Months)" or "Financier" is changed AND Setup / Reference Data → qtfinancierpostingmapdefaults "Novated Commission Max" is populated and existing "Commission Rate" is higher than the "Novated Commission Max".
When any field that triggers a recalculation of the finance rate is changed AND Setup / Reference Data → qtfinancierpostingmapdefaults "Novated Commission %" is populated.
When any field that triggers a recalculation of the finance rate is changed AND Setup / Reference Data → qtfinancierpostingmapdefaults "Novated Commission Max" and/or "Novated Commission Max %" is populated and existing "Commission Rate" is higher than the "Novated Commission Max" and/or "Novated Commission Max %".
When Rules are Not Triggered
The calculation rules below are not triggered in a quote in the following scenarios:
When the "Type Code", "Term (Months)" or "Financier" is changed AND Setup / Reference Data → qtfinancierpostingmapdefaults has not been populated.
When the "Type Code", "Term (Months)" or "Financier" is changed AND a Setup / Reference Data → qtfinancierpostingmapdefaults record exists but "Novated Commission %" is not populated and "Novated Commission Max" and/or "Novated Commission Max %" is not populated or is higher than the stored commission.
When any field that triggers a recalculation of the finance rate is changed AND Setup / Reference Data → qtfinancierpostingmapdefaults has not been populated.
When any field that triggers a recalculation of the finance rate is changed AND a Setup / Reference Data → qtfinancierpostingmapdefaults record exists but "Novated Commission %" is not populated and "Novated Commission Max" and/or "Novated Commission Max %" is not populated or is higher than the stored commission.
The Quotes / Finance "Commission Rate/Fee" field will be set as 'display-only' if the client has a stored "Agreed Lessee Rate", as this will change the commission rate and fee as they are forced to change in the calculation so that the "Agreed Lessee Rate" is matched.
Visit Role Restrictions → Quotes / Finance to check the set-up details.
Useful Queries
SET time_zone = 'Australia/Melbourne'; SET @quote_id := 100000; SET @term := '24'; SELECT gbc2.value AS 'GBC_commission_rate_basis', q.financed_amount AS 'Amount Financed', q.on_road_price_net + q.on_road_price_gst AS 'On Road Price', q.depreciable_amount, q.lessee_rate * 100 AS 'lessee_rate', q.commission_rate * 100 AS 'commission_rate', q.commission AS 'commission_fee', IFNULL(pmd.include_commission_flag, 'Yes') AS '1) include_commission_flag', c.agreed_lessee_rate AS '2) Agreed Lessee Rate', pmd.novated_commission_rate AS '3) PMD_novated_commission_rate', cd.novated_commission_rate AS '4) CLI_def_novated_commission_rate', gbc1.value AS '5) GBC_novated_commission_rate', pmd.novated_commission_maximum_amount, pmd.novated_commission_maximum_rate, pmd.novated_commission_maximum_basis FROM qt_quotes q INNER JOIN fm_clients c ON c.client_id = q.client_id LEFT JOIN qt_client_defaults cd ON cd.client_id = c.client_id LEFT JOIN ( SELECT * FROM qt_financier_posting_map_defaults WHERE supplier_id = (SELECT supplier_id FROM fm_suppliers WHERE supplier_code = 'MATTFIN') AND posting_map_id = (SELECT posting_map_id FROM gl_posting_maps WHERE posting_map_code = 'NOFB') AND term <= 24 ORDER BY term DESC LIMIT 1 ) pmd ON pmd.supplier_id = q.supplier_id_financier JOIN ( SELECT value, effective_from FROM gb_controls WHERE name = 'novated_commission_rate' ORDER BY name, effective_from DESC LIMIT 1 ) gbc1 JOIN ( SELECT value, effective_from FROM gb_controls WHERE name = 'commission_rate_basis' ORDER BY name, effective_from DESC LIMIT 1 ) gbc2 WHERE q.quote_id = @quote_id GROUP BY q.quote_id; Establishment Fee
Calculating the "Establishment / Admin Fee" is affected by a number of settings in the system. See below for a description of each setting that is used and some examples of the value that would be calculated in various scenarios.
Use the calculation spreadsheet to model the results you want to see: Establishment Fee.