Many features have been taken from Finance House.

Navigation is done from a Main Switchboard, which is not surprisingly, very similar to the one in Finance House.

From here you can enter an view customers and equipment, organise workflow and legal work, and administer accounts.

As in Finance House, the first tab page gives general information, customer and account number. You will also be able to see the total rentals paid, date of last payment, the balance of any contract minimum rentals, and the actual liability on termination. This is either arrears of rentals, or the balance of any contract minimum rentals, whichever the greater. The second tab page shows agreements.

The structure of the application is based on the principle that an account is created for each customer or customers. So if you wish, you can have an account in the name of joint hirers such as a 'partnership'. To each account can then be added any number of agreements, each agreement can relate to one or more pieces of equipment. The rentals can be payable daily, weekly, monthly, or annual. The rentals due are then calculated from the date each agreement stipulates for the customer to start paying. These are added together to form a total for each account, which is balanced against rentals received to give the current status of the account. This can be seen on the first tab page. Arrears, total paid, and date of last payment. Any agreement can be terminated by adding a "Date Returned" in respect of that equipment, as can new agreements be added to an account. If an agreement stipulates a minimum contractual rental period, you can enter a number representing that number of rentals. The application will then calculate the value of this contractual liability and balance it against rentals received, as described under the the first tab page above. There is also the facility to charge default interest on overdue rentals, which will be done for you automatically. 

In the event an account goes into arrears, three reminder letters can be printed, also a Default Notice designed to conform to the Consumer Credit Act.

All adverse actions will be logged automatically both as a credit history relating to your customer and as a task monitoring function of the workflow organiser. You can see the 'Virtual Organiser' on our Finance House page. 

As with our Finance House, all records are automatically updated, there no "Daily update routines"

Equipment purchases can be entered in bulk with basic details of manufacturer, category, description etc being carried forward as default values into the next new entry, the user only then has to type in the serial number.

In a similar way, equipment can be sold on in bulk, by 'cherry picking' off items to be added to a sale invoice.

Payment entry is by our 'Fast Payment Entry' system.

Includes 'Virtual Organiser' again described under Finance House.

Optional extra, is our 'FastTrack Legal' system. see FastTrack

Accounting features track rentals received against asset depreciation. Asset depreciation is calculated on either the default reducing balance principle or by straight line and is intended to mirror writing down allowances. All figures automatically update within the program. This is a new 2008 core functionality.

It also has the following accounting features

• Tracks individual purchase invoices which can be part paid if necessary. Each invoice can relate to many different nominal codes (expense categories). Handles prompt payment discounts.
• Cheque payments can be entered "in bulk" , i.e. a single cheque to one supplier can batch credit a mass of invoices. This process is fully automated with option to generate a report and/or remittance advice after the procedure has run. Useful for users whose single cheque can cover 50 or 100 invoices! There is also an option to pay or part pay individual invoices by selection.
• Handles credit notes. This is done in the same way as above, either automated, or manual credit/part credit.
• Handles non invoice related outgoings such as commissions, wages, PAYE, NIC contributions etc.
• See at a glance; what's due for payment  now, month end, next month etc.
• Trial balance and Trading Profit and Loss Account definable by day, week, month year or whatever.
• Nominal Codes automatically created by easy to use wizard and used as indexes
• Will create 6 figure nominal codes if required, but works properly with both four and six figure.
• Flexible reporting
• Manages bank accounts. Your trading account plus savings, cash account etc.

• Handles scheduled transactions. Transactions can be either monthly or weekly scheduled transactions just like in the popular accounting and money management programs.

  The procedure handles two types of scheduled transaction.

   

  #1 Transfers of money between different bank accounts.

  #2 External payments to third parties, such as rent or rates etc.

   

  Ordinary transfers will post in batches. And it will work just as well for cash in hand trading.

• Automated export to Microsoft Excel features.
• Generates "Banking In/Out Day Book" Excel spreadsheets of the type favoured by many accountants. This type of spreadsheet is very widely distributed in different forms by accountants to their clients, it will be therefore possible to provide your accountant information in the way that they want.

Price: PC (single user) £495 + VAT, local networking add £150 + VAT per extra licence,  FastTrack legal add £200 + VAT.

Purchases/Accounting features now included, see "Accounting"