This section provides detailed instructions for setting up and configuring the new Lay-Buy module. Please note that Lay-buy clients are managed under Debtors.

1. Enabling the Lay-Buy Module

Before you begin, ensure the following modules are enabled to support Lay-Buy functionality:

• MAXSMS: For sending One-Time Passwords (OTPs).

• MaxCollect: For processing payment collections through Collexia.

• Workflow: For Credit Control processes.

• Base Module - Clients: The foundational module for client management.

• Lay-buy: The module for managing lay-buys.This module must be enabled on the legal entity from the start of the creation of the entity . It cannot be enabled after the fact. The entity will not be able to use the lay-buy feature if it was not enabled on creation of the entity.

2. Lay-Buy Setup in MaxMoney

All Lay-Buy-specific configurations are performed within MaxMoney.

2.1 Ledger Setup

Navigate to MaxMoney > Setups > Accounting > Financial Ledgers and set up the ledgers for Lay-buy.

2.1.1 Termination Fee

Add a ledger for the termination fee:

• Control Type = General
• Financial Report = Statement of Financial Performance (Income Statement)
• Display in Financial Category = Sales (Revenue)
• VAT Type = select the applicable option

2.1.2 Sales Revenue

Add a ledger for the Sales Revenue:

• Control Type = General
• Financial Report = Statement of Financial Performance (Income Statement)
• Display in Financial Category = Sales (Revenue)
• VAT Type = None

2.1.3 Goods / Inventory

Add a ledger for the Goods/Inventory:

• Control Type = General
• Financial Report = Statement of Financial Position (Balance Sheet)
• Display in Financial Category = Inventories (Current Asset)
• VAT Type = None

2.2 Event Setup

Navigate to MaxMoney > Setups > Accounting > Financial Events and set up the Events for Lay-buy.

2.2.1 Termination Fee

Add an event for the termination fee:

• Event Attribute: Lay-buy Termination Fee
• Debit Leg: Client Control Account
• Credit Leg: Lay-buy Termination Fee

2.2.2 Sales Revenue

Add an event for the Sale:

• Event Attribute: Lay-buy Sale
• Debit Leg: Client Control Account
• Credit Leg: Sales Revenue

2.2.3 Cost of Sale

Add an event for the Cost of Sale:

• Event Attribute: Lay-buy Cost of Sale
• Debit Leg: Capital Out / Cost of Sale / Cost of Goods
• Credit Leg: Goods / Inventory

2.3 Collexia Setup

Navigate to Setups > MaxCollect. Do all the setups for Collexia. This includes, but is not limited to the CSP Setup.  You need to sign up with Collexia in order to make use of their payment collection system.

2.4 OTP Setup

Navigate to Setups > MaxSMS > General.

• SMS Limit for the Month: Enter valid number
• TechnoMetrix Enrol Client: select
• TechnoMetrix Loan OTP:
  • TechnoMetrix Loan OTP: select
  • TechnoMetrix Loan OTP Show from: select an option
  • TechnoMetrix Loan OTP Override Type: select an option
  • TechnoMetrix Loan OTP Override users: select at least one user/supervisor 

2.5 Credit Control Workflow Setup

Navigate to Setups > Clients > General.

• Force Credit Control: selected.

Remember to do the setups for the credit control on the clients, including the limits for the products on each client. Go to Client Administration > Search for a Client > Edit Client > Credit Control.

3. User Role and Lay-Buy Setup

3.1 User Role Setup

To grant users access to Lay-Buy features, navigate to MaxMoney > Setups > Security > Roles. Enable the following resources for relevant user roles:

• Create Lay-Buy Payback Instruction

• Edit Lay-Buy

• Lay-Buy Process

• Lay-Buy Receipt

• Lay-Buy Setup

• New Lay-Buy

• Reschedule Lay-Buy Instalments

• View Lay-Buy History

3.2 Accessing Lay-Buy Setup

A new resource, Lay-Buy Setup, becomes available in MaxMoney. To access these settings, go to MaxMoney > Setups > Lay-Buys. This option is only visible if the Lay-Buy module is active.

3.3 Deposit Settings

Configure how deposits are handled for Lay-Buys:

• Take Deposit:

  • If checked: The Deposit Amount and Determine Deposit Date dropdowns will appear and are required.

    • If Percentage is chosen, the Percentage field will appear and is required.

    • If Fixed Amount is chosen, the Fixed Amount field will appear and is required.

  • If unchecked: Neither the Deposit Amount nor Determine Deposit Date fields will be visible or required. The Percentage and Fixed Amount fields will also not be shown or required.

3.4 Termination Fee Settings

Configure termination fees for Lay-Buys:

• Apply Termination Fee:

  • If checked: The Determine dropdown will appear and is required.

    • If Termination Fee = Deposit Amount is selected, the Take Deposit option must also be selected. Failure to do so will result in an error message and prevent saving.

    • If Percentage is chosen, the Percentage field will appear and is required.

    • If Highest is chosen, the Percentage field will appear and is required.

  • If unchecked: The Determine dropdown will not be visible or required, and the Percentage field will not be required.

4. Loan Product Configuration for Lay-Buys

Lay-buy products use the standard Loan Product Setup, found at MaxMoney > Loan Related > Loan Products. The available options will vary based on whether the Lay-Buy module is active.

Note: Currently, Variable Charges is the only available Interest Calculation method for Lay-Buys. As a result, several credit-related options are hidden to display only those applicable to Lay-Buys.

4.1 Adding/Editing a Loan Product

When adding or editing a loan product with the Lay-Buy module enabled, you'll observe the following changes:

• An Is this a Lay-Buy checkbox is added. This checkbox is selected and disabled, meaning you cannot create non-lay-buy loan products within the Lay-Buy module.

• The Interest Calculation dropdown list will contain only VC (Variable Charges).

• The Credit Sector/Variable Charges Credit Sector field will not be displayed once Variable Charges is selected.

• Initial Loan Amount is relabeled as Purchase Amount.

• Minimum Loan Amount is relabeled as Minimum Purchase Amount.

• Maximum Loan Amount is relabeled as Maximum Purchase Amount.

• An Additional Cost Price field is added and is required.

• An Additional Autocomplete Lay Buy checkbox is added.

• On the next page, "Default Charges," no options will be available for selection as they are not applicable to Lay-Buys.

5. Variable Charges Setup for Lay-Buys

After setting up the Loan Product, you must configure Variable Charges. The options for adding or editing Variable Charges will differ if the Lay-Buy module is active.

5.1 Adding/Editing Variable Charges

When adding or editing Variable Charges with the Lay-Buy module enabled, you'll notice these changes:

• The Allow in Default Charges field is removed.

• Charge Calculation Method: Interest-based options are removed.

• Calculated On: The only option available is Purchase Amount.

• Charge Frequency: Only Once-Off or Monthly installments are available.

• Included in Principle Debt is removed.

• Interim Interest Periods is removed.

• Payment Allocation Sequence is removed.

• Payer Fee Combined Document Token is removed.

5.2 Adding/Editing Lay-buy Document

Navigate to MaxMoney > Setups > Documents and set up the documents for Lay-buy

5.2.1 Lay-buy Application Document

Create the document for the lay-buy application. Navigate to MaxMoney > Setups > Document > Add a New Document

• Event Attribute: Lay-buy application document
• Select the loan product
• Set up the document and insert the Merge Fields
  • Insert the relevant lay-buy tokens from the merge field section on the document setup
  • Choose Document Group: Lay-buy
  • Insert Merge Fields from here: select the relevant fields at the relevant positions on the document
    

5.2.2 Lay-buy Agreement Document

Create the document for the lay-buy agreement. Navigate to MaxMoney > Setups > Document > Add a New Document

• Event Attribute: Lay-buy agreement document
• Select the loan product
• Set up the document and Insert the Merge Fields
  

5.2.3 Lay-buy Payback Instruction Document

Create the document for the Collexia payback instruction. Navigate to MaxMoney > Setups > Document > Add a New Document

• Event Attribute: EnDO Receipt document
• CSP: Select Collexia
• Set up the document and Insert the Merge Fields