Delinquency [R0601]

The Delinquency report [R0601] lists past due leases, showing number of times delinquent, number of days delinquent, last and next payment dates, and amounts outstanding. This report supports the collection process even if LeasePak’s Collection module is not purchased. Two reports are produced: the Delinquency report [R0601A] and the Net Delinquent Outstanding Review [R0601B]. An alternate form of the Delinquency report may be produced, depending on the setting of the ALTERNATE DELINQUENCY REPORT switch on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212]. The alternate report may be produced for some portfolios, the standard report for others, if desired, by setting the switch on [U0212MI] to Y or to N by portfolio.

Leases on a non-accrual (Hxxx) or suspended earnings (Nxxx) status do not appear on this report. However, matured leases (lease activity status = NMAT) do appear on the report if delinquent.

Placement of the lease in delinquency category 1, 2, 3, or 4 (e.g., 1-30, 31- 60, 61-90, 91+) is based on the number of days between the payment due date and the current date, not on the number of months delinquent. Consequently, a lease may be placed in a more delinquent category than expected. For example, assume a lease is delinquent for the July 1 and August 1 payments. On August 31, the lessee is delinquent 61 days and is placed in category 3 (61-90 days), even though only two months are actually delinquent.

A switch on the New Lease screen of the Portfolio update [U0212] allows an alternative delinquency calculation which presumes that all months are 30 days. Setting this switch to Y solves the problem described above.

If a lease is booked with a back-dated commencement date it may have payments which appear delinquent. These leases can be excluded from the delinquency report if the BACK DATED NEW LEASES APPEAR ON DELINQUENCY REPORT parameter is set to N on the first screen of the New Lease Customizations option of the Portfolio update [U0212].

Either the delinquency watch code or the grace period (at the lease level) may be used to determine when the lease appears on this report. That is, a lease does not appear delinquent until either its grace period or delinquency watch days have passed. After that time, if the lease is delinquent, it appears on the report. The use of either the grace period or the delinquency watch days may be different if the report is produced interactively or through End of Period [U0401] and is determined by the settings of the following parameters:

DELINQUENCY REPORT INTERACTIVE WATCH CODE OR GRACE PERIOD
DELINQUENCY REPORT END OF PERIOD WATCH CODE OR GRACE PERIOD

found on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212].

The GRACE AMOUNT parameter, established on the second screen of the Miscellaneous Customizations option of the Portfolio update [U0212], also is used to determine if a lease appears on this report. The lease is reported only if the amount delinquent is greater than this grace amount. This stipulation may result in differences between this report and the Accounts Receivable Aging report [R0606].

However, if the report is requested for all leases in all portfolios, the format will be governed by the first portfolio reported. The report may be accessed through the Collection/Tracking report menu [R06].The report is organized by Portfolio, Company, Region, Office, or by Customer, Group. The report may be selected interactively for:

All leases
All customers and groups
A portfolio
A company
A region
An office
A lease
A customer
A customer/group

The report may be automatically generated for each portfolio at the end of the month through the End of Period update [U0401]. Use the End of Period MODULES AND REPORTS screen under the End of Period Customizations option of the Portfolio update [U0212] to specify whether the report is created.

Delinquency Selection Screen

ALL
Enter X to report on all leases. Leave blank to report on a specific portfolio, company, region, office, lease, customer and/or group. If ALL is selected, leases that belong to a customer or to a group are also reported. However, these leases are sorted by their portfolio, company, region, office, and lease numbers, rather than their customer or group numbers.
ALL CUST
Enter X to report on all customers. If ALL CUST is selected, only leases that belong to a customer or to a group are reported (sorted by customer and group).

PORT
Enter the number of the portfolio upon which to report. Leave blank if reporting across portfolios.

COMP
Enter the number of the company upon which to report.
REGN
Enter the number of the region upon which to report.
OFFIC
Enter the number of the office upon which to report.

LEASE
Enter the number of the specific lease upon which to report.

CUST
Enter the number of the customer upon which to report. CUST may not be entered if a portfolio, company, region, office, or lease number is entered. CUST must be entered if GROUP is entered.

GROUP
Enter the number of the group upon which to report. GROUP may not be entered if a portfolio, company, region, office, or lease number is entered.

Delinquency Report

The Delinquency report [R0601A] reports at the lease level and provides the following information. Refer to the NOTES section for detailed information on how a lease is determined to be delinquent. This is the standard format of the Delinquency report. An alternate report, whose detailed information is illustrated below, is available. This standard report format is produced if N (no) is set for the ALTERNATE DELINQUENCY REPORT parameter, found on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212].

LEASE
The lease number is displayed.

LESSEE NAME
The short form of the lessee name is displayed.

TIMES DELNQ
The number of times the lessee has been delinquent is displayed. LeasePak separately tracks the number of times the lease has been delinquent for each delinquency category (e.g., 0-30 days, 31-60 days, etc.). TIMES DELNQ is the sum of the number of times delinquent for all delinquency categories. For example:

DELINQUENCY TIMES

CATEGORY DELINQUENT

0 - 30

2

31-60

1

61-90

0

91+

0

The TIMES DELNQ for this lease is 3.
#DAYS DELNQ
The number of days delinquent, as measured from the due date of the most delinquent payment to the current date, is displayed. Weekends and holidays are included in this number of days. For example, if the payment is due on December 20 and the report is run on December 30, the lease is delinquent 10 days.
A switch on the New Lease screen of the Portfolio update [U0212] allows an alternative delinquency calculation which presumes that all months are 30 days.
LAST PMT
The last date a payment was processed for the lease is displayed. The date of the payment processing, not the payment due date, is shown. For example, if the payment due December 10 was processed through the Payments update [U0102] on December 15, the LAST PMT date is December 15. This date is blank if a payment has never been processed for the lease.
MOST DEL PAYMENT
The payment due date of the most delinquent payment is displayed. For example, if a lease has outstanding payments due January 10, February 10, and March 10, the MOST DEL PAYMENT date is January 10.
PMT AMOUNT
The regular payment amount is displayed. This is the payment amount on the most delinquent invoice. For example, if a lease has outstanding payments due January 10, February 10, and March 10, the PMT AMOUNT shown is the payment amount on the January 10 invoice.

DELINQUENT TOT PMT DUE
The total of the following items is displayed:
- delinquent lease payments,
- use tax,
- security deposit,
- down payment, and
- interim rent due.
Current amounts outstanding (i.e., not delinquent) are not included in this number. Security deposit, down payment, and interim rent are items due at lease commencement.
DELINQUENT INCM DUE
The delinquent interest due, for leases accrued using a simple interest method only, is displayed. Current simple interest outstanding (i.e., not delinquent) is not included in this number.

DELINQUENT ASSMT DUE
The total of the delinquent assessments (e.g., late charges, collection fees, any of the recurring charges, etc.) due is displayed. Current assessments outstanding (i.e., not delinquent) are not included in this number.
For each assessment type except recurring charges, the user may decide if it is to appear on the report by setting the DELINQ CALC switch on the Assessment Customizations option of the Portfolio update [U0212]. For example, the user may choose to report delinquent late charges and collection fees, but not delinquent property tax assessments. Delinquent recurring charges are always used to determine delinquency and always appear on the report.
DELINQUENT TOTAL INV DUE
The total delinquent amount due for the lease is displayed. It is calculated as follows:

TOT PMT DUE
+ INCM DUE
+ ASSMT DUE
MATURITY DATE
The lease maturity date is displayed. If the lease is a month-to-month extended lease, this field is blank. A lease is extended through the Lease Extension update [U0108].

Net Delinquent Outstanding Review

If the Delinquency Report [R0601] is being displayed on-line, the second half, the Net Delinquent Outstanding Review report [R0601B], appears after the Delinquency report [R0601A] when Enter is pressed. This report is always produced, regardless of the setting of the ALTERNATE DELINQUENCY REPORT parameter on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212]. The Net Delinquency Outstanding review [R0601B] reports at the office level, or the customer/group level if customer/group are selected, and provides the following information.

COMP
The company number is displayed. If reporting by customer/group, then this field does not appear.
REGN
The region number is displayed. If no region number is shown, the information reflects company totals. If reporting by customer/group, then this field does not appear.

OFFIC
The office number is displayed. If no office number is shown, the information reflects region totals. If reporting by customer/group, then this field does not appear.

CUSTOMER
The customer number and name is displayed. If not reporting by customer/ group, then this field does not appear.

GROUP
The group number is displayed. If no group number is shown, the information reflects customer totals. If not reporting by customer/group, then this field does not appear.

1 - 30 LEASE
The number of leases at or between 1and 30 days delinquent is shown. Refer to the NOTES section for an explanation of the method LeasePak uses to place a lease into a certain delinquency category.
The ending day 30 may be changed for a portfolio. Refer to the DELINQUENCY CATEGORY BOUNDARIES parameters on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212].
1 - 30 TOTAL OUTSTANDING
The total net investment and current outstandings of the leases at or between 1 to 30 days delinquent is shown. This is the amount which is at risk should all the leases in this category default.

31 - 60 LEASE
The number of leases at or between 31 to 60 days delinquent is shown. Refer to the NOTES section for an explanation of the method LeasePak uses to place a lease into a certain delinquency category.
The ending day 60 may be changed for a portfolio. Refer to the DELINQUENCY CATEGORY BOUNDARIES parameters on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212].
31 - 60 TOTAL OUTSTANDING
The total net investment and current outstandings of the leases at or between 31 to 60 days delinquent is shown. This is the amount which is at risk should all the leases in this category default.
61 - 90 LEASE
The number of leases at or between 61 to 90 days delinquent is shown. Refer to the NOTES section for an explanation of the method LeasePak uses to place a lease into a certain delinquency category.
The ending day 90 may be changed for a portfolio. Refer to the DELINQUENCY CATEGORY BOUNDARIES parameters on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212].
61 - 90 TOTAL OUTSTANDING
The total net investment and current outstandings of the leases at or between 61 to 90 days delinquent is shown. This is the amount which is at risk should all the leases in this category default.

91+ LEASE
The number of leases 91 or more days delinquent is shown.
The ending day (+) may be changed for a portfolio. Refer to the DELINQUENCY CATEGORY BOUNDARIES parameters on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212].
91+ TOTAL OUTSTANDING
The total net investment and current outstandings of leases 91 or more days delinquent is shown. This is the amount which is at risk should all the leases in this category default.

Alternate Format Of The Delinquency Report

The alternate format of the Delinquency report [R0601A] reports at the lease level and provides the following information. Refer to the NOTES section for detailed information regarding how a lease is determined to be delinquent.

This alternate format is produced if Y (yes) is set for the ALTERNATE DELINQUENCY REPORT parameter, found on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212]. A Net Delinquency Outstanding Review report [R0601B], exactly as described above, is also produced with the alternate format.

LEASE
The lease number is displayed.

LESSEE SHORT NAME
The short form of the lessee name is displayed.

WATCH CODE
The watch code of the lease is displayed. This watch code may be used to determine if a lease is delinquent instead of the lease’s grace period. Refer to the following parameters on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212]:

DELINQUENCY REPORT INTERACTIVE WATCH CODE OR GRACE PERIOD
DELINQUENCY REPORT END OF PERIOD WATCH CODE OR GRACE PERIOD
LAST PAID
The last date a payment was processed for the lease is displayed. The date of the payment processing, not the payment due date is shown. For example, if the payment due 12/10 was processed through the Payments update [U0102] on 12/ 15, the LAST PMT date is 12/15. This date is blank if a payment has never processed for the lease.
MOST DEL PAYMENT
The payment due date of the most delinquent payment is displayed. For example, if a lease has outstanding payments due January 10, February 10, and March 10, the MOST DEL PAYMENT date is January 10.

PMT AMOUNT
The regular payment amount is displayed. This is the payment amount on the most delinquent invoice. For example, if a lease has outstanding payments due January 10, February 10, and March 10, the PMT AMOUNT shown is the payment amount on the January 10 invoice.

DELINQUENT TOTAL DUE
The total of the delinquent lease payments plus use tax due is displayed. Current lease payments outstanding (i.e., not delinquent) are not included in this number.

TOTAL DUE TO CURRENT
The total lease payments plus use tax outstanding is displayed. This includes both delinquent and current (i.e., not delinquent) outstandings.

TIMES DELINQ
The number of times the lessee has been delinquent is displayed. LeasePak separately tracks the number of times the lease has been delinquent for each delinquency category (e.g., 0-30 days, 31-60 days, etc.). TIMES DELNQ is the sum of the number of times delinquent for all delinquency categories. For example:

DELINQUENCY TIMES

CATEGORY DELINQUENT

0 - 30

2

31-60

1

61-90

0

91+

0

The TIMES DELNQ for this lease is 3.
#DAYS DELINQ
The number of days delinquent, as measured from the due date of the most delinquent payment to the current date, is displayed. Weekends and holidays are included in this number of days. For example, if the payment is due on December 20 and the report is run on December 30, the lease is delinquent ten days.
A switch on the New Lease screen of the Portfolio update [U0212] allows an alternative delinquency calculation which presumes that all months are 30 days.
TOTALS
For the Delinquency report [R0601A] (both formats):

Page totals for number of delinquent leases and all dollar amounts are shown by office. Group totals are shown if customer/group is selected.
Region, company, portfolio, and grand totals are shown for the number of delinquent leases and all dollar amounts. Customer totals are shown if customer/group is selected.
For the Net Delinquent Outstanding Review [R0601B]:

Region, company, portfolio, and grand totals are shown for number of delinquent leases in each category and the total outstanding in each category. Customer totals are shown if customer/group is selected.

The information contained in this document is the property of McCue Systems, Inc. Use of the information contained herein is restricted. Conditions of use are subject to change without notice. McCue Systems, Inc. assumes no liability for any inaccuracy that may appear in this document; the contents of this document do not constitute a promise or warranty. The software described in this document is furnished under license and may be used or copied only in accordance with the terms of said license. Unauthorized use, alteration, or reproduction of this document without the written consent of McCue Systems, Inc. is prohibited.

DELINQUENCY TIMES	CATEGORY DELINQUENT
0 - 30	2
31-60	1
61-90	0
91+	0