In this article is:
How the YTD calculator works
Calculating Casual Income
Pay Date vs. Payslip end date
Traditional vs. Complex Payslips
Bonus Income
Non-base income
How the YTD Works
Casual Income
Quickli is now annualising your casual income based on the correct number of weeks for each lender
Filling out Industry Type will help us annualise the income based on the correct number of weeks. ie. If your client is in the education sector, select Education as many lenders will annualise on a lower number of weeks.
Pay Date v Payslip end date
Please enter the correct Pay Dates and Payslip end date as this will ensure that we treat the income just as each lender would.
Most lenders use Pay date to calculate their YTD income while some lenders use the (sometimes earlier and therefore occasionally more generous) Payslip end date.
Traditional vs. Complex payslips
Use the default version of the YTD calc when looking at a more traditional payslip when your client only has one YTD figure on display.
This includes all of the base salary and non base income ie. allowances, commissions
When your client has an itemised breakdown of different YTD figures (ie. a YTD for their base income, allowance, commission, OT) use the detailed YTD calculator.
Commission, Overtime and allowance will be shaded and used according to how each lender will
For the AMP only section, their calculator accommodates the payslip specific inputs.
To ensure accuracy for AMP, please provide two payslips
Second payslip isn't mandatory BUT it could have a net positive impact on the results.
Bonus Income
Remove any bonus figure from the payslip in the YTD.
Include any bonus income in the bonus calculator in the normal serviceability section so Quickli can do policy driven math for you.
Non-base Income
Omit any non base income that we've calculated for you (at the bottom of the YTD calc) and then select where you want Quickli to allocate it.
For an understanding of what a lender's base and non base income is, click on any lender in your lender panel and scroll down to Additional Information. We give you a quick link to this at the bottom of the YTD calc. Keep in mind that different may be using different amounts.
It's worth noting that Quickli is not applying any policy logic based on your applicants employment dates.
In other words, results are not influenced by your applicants short length of employment. Employment dates are only being used to work out the income math.
Questions
If you have any questions please reach out on the chat bubble in the bottom right hand corner of your screen OR shoot us an email at [email protected].
Happy Calc'ing!