Contents 

Welcome
Program Features
Document Processing Screens
Inventory and Cost Tracking
Automatic VIN Decoding
Document Printing
Easy Updates
Window Stickers
Menu Selling
Buy-Here/Pay-Here Processing
Web Site Integration
Inventory Advertising
Custom Reporting
Hardware Requirements
Setting up the Okidata 320/321 Turbo
Okidata 320/321 Printer Settings
Okidata 320/321 Form Alignment
Installing The Software
Initial Installation
Setting Up A Licensed System
Workstation Installations
Backing Up Your Data
Creating a Backup File
Maintaining System Informaton
Dealership Information
General Dealer Information
Other Dealership Information
Buy-Here/Pay-Here Options
Remote Dealerships
Additional State IDs
User Permissions and Security
Using Default Printers
Finance Information
Maintaining Salespeople
State Fees and Taxes
Outside Lienholders
Extended Warranty Maintenance
Insurance Agent Maintenance
Maintaining the Forms List
Maintaining Option Lists
Maintaining Floor Plan Rates
Automatic Stock Numbers
Credit Insurance
Modifying Insurance Types
Setting Credit Insurance Rates
Downloading Programs and Forms
Upload Inventory to Internet
Using The System
Basic Features
Drop Down Menus
File Menu
Options Menu
Tools Menu
Reports Menu
Dealer Financing Menu
Inventory Forms Menu
Pictures Menu
Maintenance Menu
Accounting Menu
Utilities Menu
Format Menu
Help Menu
Deal Processing
Menu Selling
Setting Up Menu Items
Arranging and Saving A Menu
Presenting the Menu to the Customer
Processing a New Deal
Step 1: Start New Deal
Step 1a: Enter Stock Number
Step 1b: Select Vehicle Use
Step 1c: Finance Source
Step 1d: Set the Sale Type
Step 1e: State Fee Schedule
Step 1f: Sale and 1st Payment Dates
Step 1g: Payment Information
Special Function Buttons
Calculate Payment Button
Rollback Button
Insurance Button
Warranty Button
Clear Button
Disclosure Button
Coverage Button
Marking Section Complete
Step 2: Customer Information
Customer Information
Terrorist Watch List
Title Information
Delivery Information
Step 3: Vehicle Information
Step 4: Trade Information
Step 5: Lienholder/Insurance Information
Step 6: Document Printing
Document Questions
Form Defaults
Configuring a Form
Printing the Form
Document Alignment
Clearing Form Settings
Step 7: Wrap Up
Cost and Profit Calculations
Collections At Delivery
Buy-Here/Pay-Here Collections
Calculating Salesperson Commissions
Deleting A Deal
Loading a Previous Deal
Deferred Down Payments
Scheduling Deferred Payments
Accepting Deferred Payments
Getting Credit Reports
Obtaining a Credit Report on a Customer
Viewing Past Reports
Deal History
Arranging Columns
List Filter
Standard Filter
Advanced Filter
Buy Here/Pay Here
Setting up Finance Source
List Filter
Printing Payment Coupons
Customer Payments
Payment And Call Log History
Tracking Phone Calls
Receiving Payments
Edit/Delete Payment
Loan Defaults
Adding Other Charges
Receivables Report
Payment Receipt Report
Missing Receipt Report
Recap Reports
Loan Statement
Projected Cash Flow
Payment Due Statements
Income Report
Commission Report
Modifying Due Dates
Calculating A Payoff
Entering Loans from Other Sources
Credit Reporting
Setting Up Metro 2 Reporting
Creating the Metro 2 File
Inventory Detail
Adding A Vehicle
Basic Detail Entry
Options/Web Tab
Adding Pictures
Entering Options
Tag Line
Excluding Vehicles From Web Sites
Other Information Tab
Standard Information
Custom Information
Supplier Information
Viewing Deal Information
On Hold Info Tab
Pricing Tab
Entering Prices and Costs
Repair Orders
Loading A Vehicle
Deleting A Vehicle
Inventory List
List Filters
Standard Filter
Advanced Filter
Advanced Features
Using Screen Filters
Standard Filter Options
Advanced Filter Options
Saved Filters
Standard Reports
Disclosure Report
Profit Report
Reserve Report
Salesperson Commissions
Vehicle Data Sheet
Sales Graph
Outstanding Deferred Pmts
Delivery Schedule
Custom Reports
Creating, Loading, and Deleting a Custom Report
Saving Custom Reports
Printing Custom reports
Creating a Paper Report
Title, Font and Paper Size
Adding and Deleting Fields
Report Preview
Sorting
Creating a Data Export File
Adding Fields
Creating Mailing Lables
Report Preview Screen
Letter Writer
Creating a New Letter
Printing a Custom Letter
Quick Payment
Payment Table
Finance Table
Insurance Table
Credit Insurance Coverage
Setting Defaults
QuickBooks Interface
Connecting to QuickBooks
Setting Up QuickBooks Accounts
Posting Deal Information To QuickBooks
Utilities Program
Sending Data To Friday Systems, Inc.
Retrieving Data From Friday Systems, Inc.
Compacting and Repairing The Database
Creating A Backup File
Retrieving A Backup File
Frequently Asked Questions

Lot Wizard Dealer Software Online Help Manual

Prev Page Next Page

Entering Loans from Other Sources



If you were tracking a loan in another system, you may move that loan's information into this software and begin tracking the loan from the date the customer made their last payment. The software will continue to calculate the payment along with the proper amount of interest accrued. This option is disabled by default, but you can enable it by clicking the Enable BHPH Transfer Balances checkbox on the Dealership Information screen.

The first step to entering loans from another system is to enter the basic loan information into the software. You must do this by creating a new deal record for this customer using the deal screens.

Note: It is recommended that you create a new Buy-Here/Pay-Here deal record while using a finance source with a Fixed Payment loan type. This will allow you to ensure that the payment amount is set correctly within the software. If you do not have a Buy-Here/Pay-Here finance source which uses a Fixed Payment loan type, you must first set up your finance source in the software.

When you create your new deal record, ensure that you have the deal date, payment amount, finance rate, loan term, amount financed, and customer information set correctly. You can view these financial numbers using the Disclosure button on the deal screens. These data are essential to properly calculating and tracking any loan.

Once you have created your new deal record, be sure to finish and save the deal. This will create a new loan record under your Dealer Financing tab. Now that you have created the deal and loan records, we can modify the loan record to reflect the payments which were already made under your old system. To modify the loan record, click to select and highlight a customer's name within the customer loan list as described in the Customer Payments section of this manual. Once the customer has been selected, click on the Dealer Financing menu at the top of the screen and select Edit Beginning Balances from the pull-down menu. The software will then display the Transfer Starting Balance Entries options window.


Enter the date of the last payment as it was made in your old system. Next, enter the date that the customer's next payment is due. Also, enter the balance of the loan as it stood in your old system after the customer made their last payment.

Once you have this information set, the software will take over and calculate the customer's loan from this point forward. Simply click the OK button to apply the data changes to the selected loan.

   
Visit the Lot Wizard home page for more information about our Car Dealership Software.