Release Notes - May 2023

Release Notes - May 2023

Check out the major updates, enhancements, fixes, and new features released in May 2023.

• BHPH - Ask to Update all active accounts for side note payment priority
• BHPH - Stip Request Enhancement in BHPH
• BHPH - New setting for days to cure and new repo field last day to cure
• BHPH - Report Update (Annual Account Overview)
• DEAL - Show 1st and 2nd Payment Date When Structuring Semi-Monthly Payments
• DEAL - Wholesale Report List View
• DEAL - Setting to Include Pack in Net Profit
• DEAL - Allow Resubmits for Preferred Lender Submissions.
• DEAL - Itemization for Out of State Taxes on Sales Tax Reporting Report

BHPH

Ask to Update all active accounts for side note payment priority

When a user adjusts the “Apply payment to Side Note first” in the BHPH settings, a pop-up message will ask the user “Would you like to apply this side note application priority to all existing, active accounts?”

 

Selecting Yes, will apply the settings to all active accounts and will set it as the default setting for all new accounts moving forward.

 

Selecting “No” will set it as a default setting for all new BHPH deals moving forward.

 

 

Stip Request Enhancement in BHPH

We have added an enhancement to the BHPH module to allow dealers to request additional documents, such as proof of active insurance policy, from their customers. The function works the same as requesting stipulations in the deal screen, but the documents received will be deposited into the file tab in the BHPH account.

 

The user will click on the Request Customer Docs button in the BHPH Account Header.

 

The user will select and/or enter the documents to be requested from the customer and then choose to send the request via SMS or Email.

 

The customer will receive an email/SMS message with a link to a page in which the requested documents can be uploaded.

 

The Customer will verify their identity and upload a picture of the requested document.

 

The uploaded image/document will be automatically attached to the files tab of the BHPH account.

 

New setting for days to cure and new repo field last day to cure

A new setting for “Days to Cure” has been added in BHPH settings. The Days to Cure is the number of days a customer has to get their account current before the car is repossessed. The days start calculating starting from the first day the account is delinquent.

 

This date will auto-populate the last day the account can be cured in the “Last Date to Cure” field and the “Right to Cure “ form.

 

The Days to Cure will be set in BHPH settings.

 

When the user prints the Right to Cure form, The Last Date to Cure value will be filled using the Days to Cure setting in BHPH settings. The Last Date to Cure can be manually overridden by the user if needed.

 

The Right to Cure form will display the Last Date to Cure in the Last Date for Payment Value on the Right to Cure form.

 

Report Update (Annual Account Overview)

We have added the "Original Amount Finance" to the "Annual Account Overview" report. The added field will allow the dealers to see how much they loan out compared to the total outstanding balance on the accounts.

 

DEAL

Show 1st and 2nd Payment Date When Structuring Semi-Monthly Payments

We have added the actual 1^st and 2^nd payment dates to the deal structure to help dealers see when those dates will occur when putting together a Semi-Monthly BHPH deal.

 

Wholesale Report List View

A new version of the Wholesale Deals report has been added that will show the wholesale deals in a list view. This new version of the report can be opened by selecting “List View” in the View filter.

 

The Wholesale Deals List View will flatten out the details to display each vehicle as a unique row to make it easier for users to see the sums of the individual values within the report.

 

If a single deal has multiple vehicles, each vehicle will be displayed as a separate row and the deal information will be repeated in each row.

 

Setting to Include Pack in Net Profit

A New setting has been added to Deal Settings to allow the Vehicle Pack to be considered in the deal’s Net Profit instead of the Front/Total Gross.

 

The Vehicle Cost/Front Gross option is the default behavior and will consider the Inventory Pack as a component of the Vehicle Cost and the Deal’s Front Gross.

 

In this example, the vehicle has a pack of $200 and a Total Cost of $4,200.

 

By Including the pack in Vehicle Cost/Front Gross, the deal will show the Vehicle Cost as $4,200 in the Front Gross itemization.

 

The Net Profit option will exclude the Inventory Pack from the Vehicle Cost and the Deal’s Front Gross and instead deduct it from the Deal’s Overall Net Profit.

 

In this example, the vehicle has a pack of $200 and a Total Cost of $4,200.

 

By Including the pack in Net Profit, the deal will show the Vehicle Cost as $4,000 in the Front Gross itemization.

 

The Inventory Pack will now be shown as a deduction from the deal’s Overall Net Profit.

 

Allow Resubmits for Preferred Lender Submissions

Users can now resubmit a previously submitted application to DealerCenter Preferred Lenders without having to create another deal. The resubmission is only available if the vehicle is changed or if the Co-Signer is added/removed from the deal. Simple pricing/structure changes are no eligible for resubmission.

 

The user can initiate a resubmission by clicking on either the Send to Lander or Submit New Application buttons.

 

The list of available lenders will be displayed, and the user will select the lender to receive the updated application.

 

Itemization for Out of State Taxes on Sales Tax Reporting Report

DealerCenter has added an Out of State Tax reporting in the “Sales Tax Reporting” Report. There are three additional fields that have been added to capture Out State (OOS) State Tax, City Tax, and County Tax. The three additional fields will be totaled up and added in the contract.

 

The three fields will only be available if the customer's state is different than the dealer’s state.