Information entered in this window will be used by the system to process and track Buy-Here/Pay-Here loans.
To activate an option, click in the box to make a check mark. Scroll down to see definitions of options.
BHPH Options Tab
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 your sales staff commissions are based on the Buy-Here/Pay-Here profits only, do not check this option. If staff commissions are based on the profits as well as any extra money collected due to customer late fees, then this option must be selected.
Display Late Fee Warning on Receipts/Coupons -- Select 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 salesperson commissions. If sales staff commissions are paid up front, and then commissions on Buy-Here/Pay-Here profits and payments are paid, sales staff is being paid extra for the same sale; a commission is being paid on Buy-Here/Pay-Here profits which includes the money already paid to sales staff in upfront commissions. Select this option to eliminate this issue.
For example, if a vehicle is purchased by the dealership for $3000 and then sold to a customer for $5000, there is a $2000 profit. However, if a 10% upfront commission is applied on the sale (which would be $500), the actual profit is $1500. If you do not check this option, the system calculates the commission by adding the upfront commission to the commission on the $2000 profit. Selecting this option changes the calculation by adding the upfront commission to the commission on the actual $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.