New BHPH Account

Use this screen to create a new BHPH / LHPH outside of doing a deal in the finance part of the program.

THis can be useful in entering accounts from another system.

 

ComSoft has several BHPH account types that can be used.

Specific programs will have their own option. Standard is used for almost all accounts. Others could include ComSoft LHPH program or Leas It Own It.

Select the type of deal you are creating, Retail or Lease.

Enter the term.

This is where the item(s) you are financing will be shown. To add a new Item click the "Add Item" toolbar button and enter an amount.

Enter the rate you will be charging. This can be an APR or lease rate.

Select the proper payment period.

Click this button once you have entered the other note information. This button will calculate the payment based on the other information.

Select the note type. BHPH, LHPH, Pickup Note or Side Note.

enter a description of the item that is being financed.

Enter the date of the account note.

Select the interest calculation type.

The scheduled installment earnings method is a method to compute an interest charge by applying a daily rate to the unpaid balance of the amount financed as if each payment will be made on its scheduled installment date. A payment received before or after the due date does not affect the amount of the scheduled principal reduction.

The true daily earnings method is a method to compute an interest charge by applying a daily rate to the unpaid balance of the amount financed. The earned finance charge is computed by multiplying the daily rate by the number of days the actual principal balance is outstanding.

Enter the day the first payment is due.

Enter the total amount that will be financed.

Shows the payment calculated after clicking the "Calculate Button".

Accounts Receiving account to use for this new account.