The Financials section can be found on the Opportunity record. This is where you store financial information for your clients and is divided into the following categories.
- Living Expenses
- Assets - Real Estate
- Assets - Other
- Other Income
Entries can manually added or you can use the Clone from previous Opportunity button if you already have them in another Opportunity.
Your entries will populate the corresponding fields in Apply Online which means less double entry.
Follow these steps to add financial information into the sections.
- Access each section. Click the available button to add a new entry.
- The Living Expense types match what can be found in Apply Online.
- Add the Frequency and Amount.
You can alter the Ownership by using the available option. The default option is Shared Equally.
How to add Securities in the Asset section.
- Use the Address search field and select the Address from the search results.
- Use the drop downs to select Status, Zoning, Property Type and Title Type if known.
- Add the Security Value.
- If To be purchased is unchecked then an Existing Mortgage can be added.
Note: For Motor Vehicle Assets please ensure the details section is completed with a Type selected. This field is required for the Apply Online import.
Mortgage Loans for the Securities can be entered in the Liabilities section. Follow the steps below to enter:
- Select Mortgage Loan as the Liability type.
- Use the Edit button if Ownership is not Equally owned by all applicants.
- Use the Edit button to Select Lender and Repayments.
- Check Clearing if Mortgage clearing as part of this application.
- Enter the Mortgage Balance and Limit.
Employment entries will be populated automatically if present in the Person records. Employment entries are part of the Person records and just displayed in this section.
Employment entries can be added via the Financials section or the Person record.
Note: Employment information entered in the new platform will not back populate the old Mercury 5 Person employment fields.
Dividends, Family Allowances, Maintenance and Other Income can be found in the Other Income section.