Other Options

General Information

Defaults - Some of the information included on the Other Options Screen are defaults.  A default is a value that you enter in the system and once it is entered, it will always appear on the screen.  Defaults increase data accuracy and speed up data entry.  All defaults that are entered on this screen can be overridden when actually entering a vehicle.  The following are all defaults that are included on the Other Options Screen:

Late Fees -  The FRAZER system provides flexibility for the processing of late fees.  The system can display a message each day prompting the user to run the late fee program.  This message does not need to display and the program can just be selected to run when needed.  For late fees,  a percentage needs to be entered for calculating the fee and the number of days a customer would need to be past due on their payment to have a late fee assessed.  A maximum late fee can be included which limits the amount of the late fee that can be applied.  It is also possible to determine which amount to assess the late fee on.  Options include the Payment Amount (even if current amount due is lower) or the Current Amount Due (but no more than the regular payment amount).

Original Cash Position -  is equal to the cash down payment minus the total cost of the car, tag & title fees, cost of "back end sales", and sales tax owed at the time of the sale.  There are options provided to either include other costs in the calculation or to exclude certain costs.  These provide additional flexibility with the original cash position calculation.  The settings include:

For more on the calculation of original cash position, go to Cash Position.

Helpful Hints

Late fees are applied to a payment cycle only once.  So for example, if a $5.00 late fee was assessed on a customer because they missed their June payment (monthly payments) they would not receive another late fee unless they also did not pay their July payment.

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