Equipment

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Equipment

Equipment is a tangible asset that is peripheral to a company's operations but is nonetheless necessary. Equipment is generally moveable and may be more expensive than other equipment. For example, trucks and transport materials.

Using the EQUIPMENT tab, you can add equipment, view the details of the equipment, such as equipment name, manufacturer, total cost, and tax amount, edit the equipment's details or delete the equipment of the application.

To navigate to the Equipment page:

  1. Log in to your Salesforce account.

  2. Go to  (App Launcher) > Applications.

  3. On the Applications tab, and from the list of applications, select the required application.

    The lease dashboard is displayed.

  4. Select the Equipment tab.


Manage equipment

You can manage the equipment in the following ways:

Add an equipment

In both Quick Quote or Lease applications, you can add equipment from the warehouse or add equipment from a standard equipment template or add new equipment altogether.

The ​lessors can now track the complete lifecycle of equipment, starting from origination and servicing to collections.

You can add equipment/s in the following ways: ​

  • Add a new equipment ​

  • Add one/many equipments by using equipment master as a template​

  • Add existing equipment from the warehouse​

Prerequisites

Before you proceed to add equipment to a quick quote or lease application, ensure that the following prerequisites are met:

  • The lease application is created in Q2 Origination.

  • At least one equipment master ID is configured.

  • At least one equipment type is configured.

  • The equipment type or collateral type must be associated with the 'Lease' Collateral Category Association.

  • For adding equipment from the warehouse, the equipment record must be created with status as Warehouse.

Steps

To add equipment to quick quote or to lease application:

  1. Log in to your Salesforce account.

  2. Go to  (App Launcher) > Applications or Quick Quotes.

  3. On the Applications tab, from the list of applications, select the required application.

  4. Select the Equipment tab.

    The Equipment page is displayed.


  5. Select Add Equipment .

    The Equipment window is displayed with the following options:

    1. Equipment Master

    2. New Equipment

    3. Existing Equipment (For Lease), Equipment in Warehouse (For Quick Quote)


  6. Select the required option and select Next.

    1. If you have selected the Equipment Master option, specify the Equipment Master Id.


    2. If you have selected the New Equipment option, specify the Equipment Type.


    3. If you have selected the Existing Equipment option, specify the Equipment.


  7. Specify the required field values as described in the following table, and then select Save:

    Field Name Description

    Pricing Information (This section is applicable if you have selected the New Equipment option or the Existing Equipment option)

    Estimated Selling Price

    The expected market price of the equipment at the time of creating the lease.
    Subsidy The field describes the amount by which the vendor is subsidizing the acquisition cost of the equipment. These discounts may or may not be passed on to the lessee. 

    Dealer Fees

    The fee charged by the dealer to process the lease and arrange for the funding.

    Warranty Amount

    The warranty amount for equipment.

    Tax Amount

    Tax amount applicable on the equipment or vehicle.

    Other Financed Fees

    Any other fee that is applicable in the processing of the lease application.
    Total Dealer Charges = Estimated Selling Price + Dealer Fees + Warranty Amount + Tax Amount - Subsidy
    Total Cost = Total Dealer Charges + Other Finances Fees

    Equipment Information

    Number Of Equipments

    The number of pieces of equipment being leased.

    This field is applicable if you have selected the Equipment Master option.

    Equipment Name                                 

    The name of the Equipment. This is a mandatory step.

    Equipment Code

    The code of the Equipment.

    Make

    The make of the equipment company.

    Manufacturer

    The equipment manufacturer company name.

    Model

    The model of the equipment.
    Equipment Type Name This field is auto-populated for the Existing Equipment option.
    Serial Number Equipment's serial number
    Model Year

Edit the equipment's details

Select (View record details) to edit the equipment's details, and then select Save.
You can refer to the above table to know the fields in detail.

Bulk upload of equipment

From the Spring'23 release, on Lease applications, you can bulk upload equipment or asset details instead of loading them individually. This helps in avoiding the time consuming activity of uploading each equipment and quickly be able to submit the lease application for processing.

You can upload up to one thousand pieces of equipment or assets at a time.

To do a bulk upload, simply select Add Multiple Equipments as highlighted in the following image:

Note:

For more information on adding equipments, see Add an equipment.

Upon doing a bulk upload, the system automatically extracts values from the CSV file and maps this data into the Application Collateral attributes. Once the upload is successful, the information is visible and available for the usual searching, deleting, and editing individually.

Manually map the fields of the CSV file to the Application Collateral object

You can also manually map the fields on the CSV file to the fields on the Application Collateral object by updating the fields in the Equipment Upload Template object.

When you select Add Multiple Equipments to do a bulk upload, the system processes and loads the bulk CSV file, maps each field of the CSV file to the respective field of the Application Collateral object, and then saves it in that object. To map automatically, the system internally uses the Equipment Upload Template to store all the fields with their CSV column numbers.

The Equipment Upload Template object has the following data:

Note:

The preceding image displays a list of default template header records that can be changed by different implementation teams based on their requirement.

While uploading the CSV file, the system internally fetches all the fields from this object and updates as the header of the columns in the display on the UI.

The following image highlights the template headers of this object:

If any of the fields are not mapped correctly, then you can manually map them by changing the header by selecting some other field from the drop down list. The drop down list has all the fields from template object. If the template object has no records then all the fields of the Collateral and Application Collateral objects are available in the drop down list.

The Equipment Upload Template object has the following fields:

Field Name Description
Column_Number__c sequence number of each fields in the CSV file
Field_Name__c field name of template header
External_Id__c In some cases CSV file can have external Id value instead of direct value, for example collateral_type__c in excel can have Id or its external Id say name. If excel has external Id, then its name should be stored in this field, processing will happen based on that
SObject__c Object name of fields saved as template.

For more details of this object, see the Q2 Origination Data Dictionary guide > Q2 Origination Objects > Equipment Upload Template section.

After verifying the mapping of each fields of CSV file, you can select Save to save all the asset records. On selecting Save, the system inserts all the records in the Collateral and Application Collateral object.

Note:

For more information, see Edit the equipment's details, Delete an equipment, and Bulk delete equipment.

Example

Let us say you are working on a Lease application and then you perform the following steps:

  1. On the Equipment tab, load the excel or the CSV file with multiple equipment or assets using the bulk upload capability.

  2. Select the fields from Application Collateral Object in the drop down values and save it.

    • The system extracts the data from the file.

    • The newly created equipment or assets records are displayed on the equipment page.

  3. Create equipment or assets records individually, which are equal to the number of equipment or assets on the file.

  4. Select to Search any of those using existing capabilities.

    • The relevant records are retrieved and displayed on the page.

  5. Select to Edit any of the equipment or assets using existing capabilities.

    • The relevant record is editable.

  6. select to Delete any of the equipment or assets using existing capabilities.

    • The relevant record is deleted.

Delete an equipment

Select (Delete Equipment) to delete the equipment for the application.

Bulk delete equipment

From the Spring'23 release, on Lease applications, you can do a bulk delete equipment or asset details instead of deleting them individually. This helps in avoiding the time consuming activity of deleting each equipment and quickly be able to delete the equipments quickly in case there have been errors in the data uploaded.

The system as usual fetches the equipment or asset details to be deleted.

Then when you select all of them and confirm to delete, the system deletes all details of the equipment or asset including primary key like ID or serial no.

Once the delete is successful if you search with any details of those equipment or asset details, then the system does not display any records.

Example

Let us say you perform the following steps:

  1. Create a Lease application.

  2. Select the Equipement tab.

  3. Upload more than 50 equipment to the application.

    • Initially, only records up to 50 equipment are displayed on the application, and you can select Load more if you need to view more.

  4. Select Load more.

    • You see more records getting displayed.

  5. Select all the records from the total list and then select Mass Delete Equipment.

    • All equipment are deleted.

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