The Squarezone Finance Manager hand held computer is a Squarezone XM32
computer complete with a suite of software that will enable you to produce
quotations and documentation for Hire Purchase, Lease Purchase with
Balloon and Personal Loan.
You may set-up the unit
to constrain the user to offer just the options that are allowed for a particular finance product.
For example, just offer a term of 12, 24 and 36 months. You may even remove all constraints and
allow complex repayment patterns such as 3-2-33-1 (3 advance, 2 delay, 33 future payments, 1 month
final pause) with or without balloon payments.
Payment Protection Insurance (PPI) and Guaranteed Asset Protection
Insurance (GAP) may be included. Actuarial early settlement figures may be
calculated and the A.P.R. is displayed for all deals. Commission or Subsidy calculations are
provided. Document Fees (single or spread) and Purchase Fees can be pre-defined.
The Power at the Point of Sale for your salesman, is effortlessly
being able to remodel the quotation to suit your customer. This includes stepping through different levels
of insurance and changing any parameter to satisfy a desired payment.
£319.60 inc carriage & vat
Using your Squarezone
These instructions apply to Version 040XX.
SQUAREZONE
FINANCE MANAGER
Switch on your Finance Manager with the switch on the right hand side and you will be
greeted with a welcome message. See below to edit the welcome
message.
If you wish to restart a program,
press the key followed by a number - Run 1 - rather than switching off
and on again. All entries will be cleared.
Press the key to move forward to the
Hire Purchase program or alternatively press a number corresponding to
the desired program e.g. press 2 for Lease Purchase or press 3 for Personal Loan.
There are minimum and maximum limits for all
entries.
You may press the key, at any
time, to return to a previous screen. We call this the backstep key.
Hire Purchase
Y/N
If you press a number where there is no corresponding program, a menu of available programs will be presented. Use the or
keys or
press a number e.g. press 3 for Personal Loan.
Hire Purchase - Detailed instructions:
Some of the screens shown below may not appear because
they can be enabled or disabled in the Configuration program.
Cash price of
goods £ 10000.00
Enter an amount of money.
Deposit 5.00%
£ 500.00
Enter an amount and the percentage will be calculated.
Alternatively input a figure and press the key and the amount
of deposit will be calculated as a percentage of the cash price. This will
continue each time you change the figure. Press to accept the
deposit.
Insurance price
£ 0.00
Enter an amount for any insurance product.
If you wish to enter zero you may press the key.
If the figure in the display is zero already, you may press the
key to accept it. Press the key to clear an entry or press the
key to delete one digit from an entry.
Term in months
36
You will be offered a default term as set-up below.
Change it as required. This screen will be skipped altogether if the administrator has set the
minimum and maximum term to the same figure.
Select rate type
FLAT Y/N
Select from Flat, Yield, APR or Rate per £1000.
Flat rate
6.000%
You will be offered a default rate linked to the balance financed.
This screen will be skipped altogether if the rates have been locked by the administrator.
£500 DEP 5%
£311.39 x 36m
This is an example of the Result Screen. It shows the total deposit on the top line,
together with the percentage of the cash price. The repayment and number of repayments is
displayed on the bottom line.
£500 BRONZE
£322.71 x 36m
The Result Screen will display an indicator if PPI or GAP is available and
selected.
Use the following keys to adjust the quote:
to Change the term to this number of years e.g.
press
and 2 YEARS will be displayed momentarily and your Squarezone
will recalculate the payment for 24 monthly payments. If the term is not
available, MINIMUM or MAXIMUM will be displayed.
Increase the term by one
month.
Decrease the term by one
month.
Increase the term by three months.
Decrease the term by three
months.
Re-enter all of the figures from the beginning without
losing what has already been entered.
Restart your Squarezone and clear all entries.
key
COMMISSION £ 312
Base rate 4.75%
Calculate the commission or subsidy depending on the Base
rate entered. This is a Difference in Charges (DIC) calculation. The DIC will
be calculated each time you change the Base rate. Press to
return to the Result Screen. The default Base rate may be changed
in the set-up program.
key
£2500 (25.00%)
LASR PPI £ 1144
£500 LASR
£325.42 x 36m
Change the PPI level. This
cycles from none to LASR, LAS & LIFE and back to none again. If
enabled below, the total premium will be
displayed momentarily. The repayment will be calculated and an indicator
placed on the top line. The letters LASR stand for Life, Accident,
Sickness and Redundancy insurance cover.
key
£500 BRONZE
£322.71 x 36m
Change the GAP level. Similar to changing the PPI level,
cycling through GOLD, SILVER and BRONZE.
Go back to the previous screen
(sometimes screens are skipped)
Go forward to the next screen
(same as pressing but will retain a No input)
key
Facility fee
£100.00
Change the Facility fee (initial fee) if
not locked. See below.
Collect fee with
1st payment Y/N
Whether or not the Facility fee is spread.
Purchase fee
(single) £ 25.00
Change the Purchase fee (final fee) if
not locked. See below.
key
Desired payment
£ 300.00
Enter the Desired payment. Your Squarezone will try
to match your customer's desired payment by calculating a new deposit,
rate or price as available.
Change deposit
to £847.00 Y/N
If you press the original figure is
retained.
Change rate to
4.56% Y/N
Change price to
£9653.00 Y/N
Accept the quote
When your Finance Manager requires an input, the prompt will be
in lower case. When a result has been calculated, the prompt will be in upper case.
Sometimes a result will be displayed on one line when an input is required on the other line.
Documentation
Press to move forward through the documentation screens.
When viewing any figures, press to return to the Result Screen.
DOCUMENT
SCHEDULE
HIRE PURCHASE
REGULATED
AMOUNT OF CREDIT
GOODS £ 9500.00
AMOUNT OF CREDIT
INSUR £ 0.00
TOTAL AMOUNT OF
CREDIT £ 9500.00
DURATION OF
AGREEMENT 36m
TOTAL PAYABLE
GOODS £ 11835.04
TOTAL PAYABLE
INSUR £ 0.00
TOTAL AMOUNT
PAYABLE 11835.00
£411.39 1m
AFTER AGREEMENT
INCLUDING THE
FACILITY FEE
£311.39 x 34m
FROM MONTH 2
£311.39
FINAL INSTALMENT
PLUS THE
PURCHASE FEE
A.P.R.
12.6%
TOTAL CASH PRICE
GOODS £ 10000.00
TOTAL CASH PRICE
INSUR £ 0.00
TOTAL CASH PRICE
£ 10000.00
CASH DEPOSIT
£ 500.00
FACILITY FEE
£ 100.00
FINANCE CHARGES
GOODS £ 1710.04
PURCHASE OPTION
FEE £ 25.00
GOODS:CHARGE FOR
CREDIT £ 1835.04
INSUR:CHARGE FOR
CREDIT £ 0.00
TOTAL CHARGE FOR
CREDIT £ 1835.04
RATE OF INTEREST
GOODS 6.00%
RATE OF INTEREST
INSURANCE 0.00%
COMBINED RATE OF
INTEREST 6.44%
SETTLEMENT @ 1/4
TERM £ 7853.34
SETTLEMENT @ 1/2
TERM £ 5609.83
SETTLEMENT @ 3/4
TERM £ 3157.49
TERMINATION
£ 5917.52
REPOSSESSION
£ 3945.01
Review document
details? Y/N
Configuring your Squarezone Finance Manager
Switch on your Finance Manager and press the key.
VERSION 04203.03
DATE 11-04-2007
The software version number and date will be displayed. Press the
key to move forward
0870 803 4701
SQUAREZONE.CO.UK
Contact details screen. See the Support page on
www.squarezone.co.uk/finance_manager/ for more details.
Enter Pin Code
[ ]
Enter the default pin code of 1111
Keep current Pin
Codes? Y/N
Press when asked Keep current Pin Codes?.
Manager Pin
Code is 1111
Choose a 4-8 digit pin code for each group of pins. You will not be allowed to keep 1111.
There are three groups. The Manager Pin Code gives access to global items.
Dealer Pin
Code is 2222
The Dealer Pin Code gives access to finance product defaults.
User Pin
Code is 3333
The User Pin Code gives access to statutory parameters such as the Insurance Premium Tax rate.
MANAGER CONFIGURATION
This area is usually controlled by the Finance House. You may press to skip this section.
Edit global
parameters? Y/N
Press for the following parameters:
Currency symbol
£ Y/N
Press until currency symbol required is displayed.
The choice is £ € $. There is no conversion.
Date format
Not used Y/N
Press until desired date format is displayed.
The choice is Not used or DD.MM.YY. If a format is chosen, dates will be calculated and displayed.
Press to change to 0% rounding to balance. This determines where any odd pence are applied to when
the interest rate is zero and the balance financed is not divisible by the term.
Press to change to Total premium is hidden and again to Total premium is displayed.
Input the total premium or allow it to be calculated from rates stored in the configuration files.
Momentarily display the total premium when selecting insurances.
Insur schedules
not separate Y/N
Press to change to Insur schedules separate. The figures for insurance appear on
the document in a separate area or combined with the goods figures.
Advance payments
PPI charged Y/N
Press to change to Advance payments PPI excluded. Charge PPI on advance payments?
Equivalent rate
is hidden Y/N
Press to change to Equivalent rate is displayed. Combination of rate charged for goods and rate
charged for insurance.
Early settlement
1m penalty Y/N
Press to change to Early settlement No penalty. Adds one month to early settlement date.
There may be other options available but they will
all follow the same formula and their function should be obvious.
Edit product
availability Y/N
Press for the following parameters:
Hire Purchase is
available Y/N
Press to change to Hire Purchase is unavailable.
Remove this choice from the menu?
Other products appear but some may not be accessible in this model.
Enter a figure. A warning will be given to the user if a lower flat rate is entered or
calculated. This figure is offered as a default for commission and subsidy calculations.
The first figure will be the Minimum balance financed entered above.
The second figure may be entered at this point, followed by the rate for that band.
There are three bands available, which offer the user a default flat rate. If the rates are locked,
these rates will be used in all calculations and may not be changed by the user.
Rates are
changeable Y/N
Press to change to Rates are locked.
Is the user allowed to view or change the rate?
The following section enables you to configure finance products that were
enabled above.
Hire Purchase
set-up? Y/N
Select rate type
FLAT Y/N
Press to change rate type to YIELD, RATE PER £1000, A.P.R. and
back to FLAT.
Rate types are
selectable Y/N
Press to change to Rate types are locked. The user may choose the rate type.
Edit deposit,
p/ex & fees? Y/N
Press for the following parameters:
Minimum deposit
£ or % 0.00
Enter a figure. This will either be an amount of money or a percentage of the cash price.
Maximum deposit
£ or % 90.00
Enter a figure. This will either be an amount of money or a percentage of the cash price. If minimum and maximum are the same, the user will
not be asked to choose.
Default deposit
0.00
Enter a figure. This may be overridden by the user.
Part exchange
is disabled Y/N
Press to change to Part exchange is enabled.
Facility fee
£100.00
Enter an amount. This will either be collected
with the first regular payment or spread over all payments.
Collect fee with
1st payment Y/N
Press to change to Fee is spread over term.
Purchase fee
(single) £ 25.00
Enter an amount. This will be collected with the last payment.
Edit terms and
delays? Y/N
Press for the following parameters:
Payment interval
Monthly Y/N
Press to change Payment interval to Quarterly, Bi-annually, Annually.
Payment interval
Locked Y/N
Press to change Payment interval to Selectable.
Term in steps of
1 month Y/N
Press to change Term in steps of to 3 months, 6 months, 12 months.
Enter the number of months. This will be offered to the user as a default unless the
minimum term and maximum term are the same.
Min delay to 1st
payment 1 month
1 to 12 months delay to first regular repayment.
Max delay to 1st
payment 1 month
1 to 12 months delay to first regular repayment. If minimum and maximum are the same, the user will
not be asked to choose.
Residual value
maximum 0%
Enter a percentage of the loan amount. Set to 0 where a residual value is not appropriate.
Min delay to
last payment 0m
0 to 12 months delay to balloon payment.
Max delay to
last payment 0m
0 to 12 months delay to balloon payment. If minimum and maximum are the same, the user will
not be asked to choose.
Advance payments
minimum 0
0 to 12 advance payments collected at the time of the loan.
Advance payments
maximum 0
0 to 12 advance payments collected at the time of the loan. If minimum and maximum are the same, the user will
not be asked to choose.
Edit PPI & GAP
insurance? Y/N
Press for the following parameters:
PPI &GAP default
to MINIMUM Y/N
Press to change to PPI &GAP default to MAXIMUM.
Should the first quote produced include insurances?
P.P.I. rate
LASR 10.00%
Enter a figure. This percentage is applied to the repayment.
There are three levels of cover: Life Accident Sickness & Redundancy - LASR, LAS and LIFE only.
Enter 0% if you do not want to quote.
Gap insurance
GOLD £ 549.00
Enter an amount. This is a single premium. Enter 0 if you do not want to quote.
Gap up to £10k
SILVER £ 399.00
Enter an amount. This is a single premium that will be applied to loans from
0 to £10,000 inclusive. There are four bands: 0-10k, 10k-20k, 20k-30k & 30k plus.
Gap up to 36m
BRONZE £ 329.00
Enter an amount. This is a single premium that will be applied to loan periods from
6 months to 36 months inclusive.
There are three bands: 6-36m, 37-48m & 49-60m. No premium will be calculated if the term
is more than 60 months.
Edit document
sections? Y/N
Press for the following parameters:
First instalment
box present Y/N
Press to change to First instalment box absent.
Final instalment
box present Y/N
Press to change to Final instalment box absent.
Exclude any
Purchase fee Y/N
Press to change to Include any Purchase fee.
Other products are set-up in exactly the same way. All products use the same calculation routines but for users
who may not be trained in the finer points of finance, we provide three different set-ups.
USER CONFIGURATION
This area is usually controlled by the user. You may press to skip this section.
Edit statutory
parameters? Y/N
Press for the following parameters:
Tax rate for PPI
5.00%
Enter a figure. Usually the IPT rate. Affects PPI insurance details.
Tax rate for GAP
5.00%
Enter a figure. Usually the IPT rate. Affects GAP insurance details.
CCA upper limit
£ 25000
Enter an amount. Loans of this amount or less are subject to the
Consumer Credit Act (CCA).
