Overview
In PrecisionLender, configurable expenses allow you to create multiple expenses for Commercial Loan and Deposit products.
Commercial Loan Products
- Admins can create multiple tier-based expenses and the tier will be based on the loan Amount
- Expenses can be configured as one or a combination of the following:
- Annual Expense Value
- Percent of Amount
- Percent of Average Balance
- Percent of Revenue
- Percent of Commitment
- Percent of RWA
- Admins have the ability to mark the expense(s) as Optional, Default or Required
- These expenses will be treated as a recurring expense
Deposit Products
- Admins can create multiple tier-based expenses and the tier will be based on the Balance
- Expenses can be configured as one or a combination of the following:
- Annual Expense value
- Percent of Balance
- Percent of Revenue
- Admins have the ability to mark the expense(s) as Optional, Default or Required
- These expenses will be treated as a recurring expense
This article will cover setting up the configurable expenses and applying them to the loan and/or deposit.
In this Article
Setting up Configurable Expenses
Commercial Loan Products
- From the PrecisionLender dashboard, select the Administration tab.
- On the next screen, select Products in the left panel and then choose the applicable Commercial Loan Product from the list.
- Select Edit and choose Expenses at the top of the screen.
- In the Expenses section you can add your expenses by selecting the Add New Expense button.
- Set as - Allows you to select if the expense will be optional, selected by default, or is required.
- Name - The name of the expense.
- Amount (not inclusive) - The threshold for the loan amount.
- Annual Expense - This is the annual expense to the bank for the loan.
- Percent of Amount - Allows you to set a percentage of amount for the associated tier.
- Percent of Average Balance - Allows you to set a percentage of average balance for the associated tier.
- Percent of Revenue - Allows you to set a percentage of revenue for the associated tier.
- Percent of Commitment - Allows you to set a percentage of commitment for the associated tier.
- If you need to add another tier to the expense, select Add Expense Tier.
- Once you have entered all necessary information, be sure to select Save at the top of the screen.
Deposit Products
- From the PrecisionLender dashboard, select the Administration tab.
- On the next screen, select Products in the left panel and then choose the applicable Deposit Product from the list.
- Select Edit and choose Expenses at the top of the screen.
- In the Expenses section you can add your expenses by selecting the Add New Expense button.
- Balance (not inclusive) - The threshold for the deposit balance.
- Annual Expense - This is the annual expense to the bank for the deposit.
- Percent of Balance - Allows you to set a percentage of the balance for the associated tier.
- Percent of Revenue - Allows you to set a percentage of revenue for the associated tier.
- If you need to add another tier to the expense, select Add Expense Tier.
- Once you have entered all necessary information, be sure to select Save at the top of the screen.
Expenses on a Loan
To add your expenses on a loan, navigate to the Opportunity screen and then click into the Fees/Expenses field. In the Expenses tab, you will see all of the expenses that were configured in the Admin section.
You can check the box next to any expense you would like to include on the loan. Defaulted expenses will already be selected. If the expense is required, you will not be able to de-select it.
Be sure to save your changes once you have entered all necessary information.
Expenses on a Deposit
To add your expenses on a deposit, navigate to the Opportunity screen and then select the Deposits tab. In the Add Deposit drop-down, choose the appropriate deposit and click into the expenses field. Here you will see all of the expenses that were configured in the Admin section.
You can check the box next to any expense you would like to include on the deposit. Defaulted expenses will already be selected. If the expense is required, you will not be able to de-select it.
Be sure to save your changes once you have entered all necessary information.