Reserve Calculation

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Reserve Calculation

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Reserve Calculation Methods in Frazer

Frazer can calculate Reserve on an Outside Financed deal in 4 ways :

1.As a Flat Amount

2.As a Percent of the “Amount to Finance”

3.As a Mark-up from Buy Rate to Sell Rate

4.As a Mark-up from Buy Rate to Sell Rate Using the Ratio Method(Only used when your bank requires it)

 

*Reserve on the Customer Activity Screen

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-When you receive a check from the lienholder, you’ll be able to allocate it to either the reserve, or the contract amount when you enter that payment in A) Enter PAYMENTS and Other Transactions.