Main Sales Entry
Sale ID – this is generated by the system and keeps tracks of all sales associated with a CID
Sales Office – where is the client actually purchasing from within your enterprise
Reservation ID – this must tie to a specific tour in order to report correctly on the Efficiency Reports. If a
CID has multiple RIDs, the admin team must select the proper tour
Compensation / Positions
All of the Position Fields list the specific function an employee can have during the sales role. In order to have an employee populate a field, that employee must 1) be active in the employee setup and 2) be assigned to that specific role. If an employee fulfills two roles, he must have two entries in the employee table . . . one ID for each roll. Ie, If Sam Smith is a sales agent but also fulfills the role of Podium Speaker, he will have one employee ID as the Sales Agent and another for Podium.
To make the system as flexible as possible, the Main Sales Entry Screen allows for hand entering either the Commission Percentage and the Commission Dollars for each transaction. This allows for multiple tiers / achievements. As there are many compensation plans out there, this gives the management team the most flexible option for reporting. Leave blank if there are variables.
The management team must decide what each role means however, most sales team functions can be identified within these roles
• Sales Agent 1
• Sales Agent 2
• TO 1 (Take over agent – typically a closer)
• Marketing agent (if the marketing agent receives a commission on a sale)
• VLO (Verification Loan Officer)
• Marketing Manager (if the marketing manager receives a commission on a sale)
Purchase Product – this is what is being sold from the company. Typically it can be a club product, exit product, or actual timeshare product. This must be selected.
Inventory ID – if your product is something that needs to be tracked, in the case of timeshare inventory that has a specific Developer Contract Number, HOA reference number or APN, this is a drop down box from the inventory table. Only inventory that is made available for sale by the manager (through the inventory availability matrix) will populate here. No Inventory that has already been marked as sold will be visible here to maximize the inventory control.
Non Purchase Funds Collected – this is where escrow fees, financing fees, or other fees not included in the sale price are included. Leave blank if there are no extra fees.
Cash Deal – check if a cash deal
Purchase amount – the full purchase price of the product the client is purchasing
Down Payment – how much money is being collected as a down payment. Down % is a calculated amount and shows the Down Payment as a percent of the purchase price. This is important to identify so that you can ensure you are meeting any finance restrictions.
Finance Amount = Purchase Price – Down Payment. This is calculated but can be over ridden
Finance Interest Rate – the rate of the financed amount per annum
Finance Term – how many months is the loan for
FICO – a masked field for the client’s credit score . . . this can be from any source and is free form
Service fee – monthly amount in addition to the P&I payment. This could be a $5 service for ACH payments, or other. This is required for any contract where the Truth In Lending calculation for APR is needed.
If the client is a pender, the following fields are necessary
• Cash Today – how much cash is being collected. Requires a value in the Down Payment field.
• Cash Due – What is the balance of the Down Payment – Cash Today
• Cash Due Date – what is the date the client will have all down payment monies in. This is something that your admin team will need to be on top of to keep an even flow of penders coming in.
• Down PIF Date – This is Down Payment Paid In Full date . . . this gets completed when all of the down payments monies have come in. This is the actual date . . . not an estimate
• Good Now Date – This is the date the sale becomes good. This is an actual date . . . not an estimated date. This only gets completed for pendered deals.
Rescission Date – this is the date that the transation has to cancel based on your state laws. 5 or 7 day rescission period
Payment Description – what is the form of payment for the down payment
Title Policy – does the client want a title policy on their purchase. Typically the client doesn’t want to pay for the stipulated fee from the title company.
Lender – this is a drop down of all lending sources for your operation
If the sales contract is a managed piece of inventory (ie, Timeshare deed), then the Sales Inventory Control screen will populate the specific information for the contract in these fields from the inventory tables. In order to solidify the contract, these fields must be tabbed through to ensure the inventory is taken out of availability.