Enter information and change options for your Buy-Here/Pay-Here dealership under the BHPH Options tab. Information entered in this window will be used by the program to process and track Buy-Here/Pay-Here loans. Some of the options listed in this window use check boxes to activate or deactivate them.
Enable BHPH Transfer Balances -- If you wish to transfer the information for your Buy-Here/Pay-Here accounts from another system, activate this option.
Add Late Fees Collected to BHPH Profit -- If you would like to pay your sales staff commissions on the Buy-Here/Pay-Here profits only, do not check this option. If you would like to pay your staff commissions on the profits as well as any extra money collected due to customer late fees, you should check this option.
Display Late Fee Warning on Receipts/Coupons -- Check this option to print the late fee terms entered into a Buy-Here/Pay-Here deal. The warning is then printed on any coupons and receipts.
Subtract Upfront Commission from BHPH Profit -- This option is useful when calculating salseperson commissions. If you are paying your sales staff upfront commissions as well as commissions on Buy-Here/Pay-Here profits and payments, you may want to note that you may be paying your sales staff extra for the same sale - you are paying a commission on Buy-Here/Pay-Here profits which include the money you already paid your sales staff in upfront commissions.
For example, if you purchase a vehicle for $3000 and sell it to a customer for $5000, you make a $2000 profit. However, if you pay a 10% commission on the sale (which would be $500), you are in reality making a $1500 profit when you subtract your salesperson's commission. If you do not check this option, you are paying your sales staff the upfront commission plus the comission on the $2000 profit -- a profit which includes the amount you paid in commission to your sales staff. If you do check this option, you are paying your sales staff the upfront commission plus the commission on the $1500 profit.
Hide Remaining Balance on Receipts -- Check this option if you do not want to print a customer's remaining loan balance on receipts.
If you have purchased the optional Metro2 Reporting module from Friday Systems, Inc., you will be able to create a file which describes your customers' payment histories. This file is in a standard format called Metro2 which was created by credit agencies in conjunction with the federal government. Once you have created your file, you can give the file to your credit bureau in order to report your customers' credit history with your dealership.
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