Lease Inquiry [R0905]
Contents
Introduction
The
Lease Inquiry [R0905] provides a review of all information on file for a specific
lease or asset. It may be used for research, customer service, review, and payoff
quotes. The report can be accessed either through the LeasePak Reports menu, Operational
option or by entering R0905 into the Fast Menu <F2>.
Note: LeasePak v3.2a
has been modified to store a maximum of 500 leases per client in the Lease Inquiry
Report.
This screen is used to select the
lease or asset on which to report, as well as which sections of the report to
produce.
- LEASE
Enter the lease number on
which to inquire. Leave blank for an asset inquiry. The lease number must already
exist on file. Use Help to perform a Lease Search by Lessee. (For instructions
on performing such searches, refer to Client
Search in Getting Around in LeasePak.)
- ASSET
Enter the asset number on
which to inquire. Leave blank for a lease inquiry (all assets for a lease are
reported on a lease inquiry).
Note:
The following fields are not displayed if the lease selected is paid off or terminated
and the full lease information is no longer on file. The closed out (historical)
lease information report is automatically generated. Refer to the NUMBER
OF DAYS TO WAIT BEFORE CLEANING UP LEASE RECORDS parameter on the third screen
of the Miscellaneous Customizations option of the Portfolio update [U0212] for
more information about the deletion of paid off and terminated lease information.
- ALL
Enter X to report on all
the information available. Leave blank to report on a combination (but not all)
of the information categories.
- ADMINISTRATIVE
INFORMATION
Enter X
to report on miscellaneous lease administrative information, such as relationships
(e.g., vendor, broker, customer, etc.), ratings, comments, salesperson commission.
Leave blank to exclude this information from the report.
- ADDRESS INFORMATION
Enter
X to report on address and miscellaneous information for the associated groups
established for the lease, such as lessee, co-lessee, guarantor, references (bank,
trade, personal), previous and current employment, and miscellaneous addresses
(mailing, billing, previous and other). Leave blank to exclude this information
from the report.
- TERMS
OF LEASE
Enter X to
report on the main financial information for the lease. Leave blank to exclude
this information from the report.
- ACCRUAL
Enter X to report on monthly
accrual information. Leave blank to exclude this information from the report.
- PAYMENT
Enter X to report on current
and historical payment information. Leave blank to exclude this information from
the report.
- PAYOFF
Enter X to report on information
needed to quote a lease payoff or termination. Leave blank to exclude this information
from the report. If X is entered, the PAYOFF METHOD may be entered or changed,
the default EFFECTIVE DATE of the payoff may be changed, and, if an EFFECTIVE
DATE past the lease’s accrued to date is entered for a projected quote, future
payments may be indicated as either received or not (using the FUTURE PMTS RECD
field).
- PAYOFF
METHOD
Enter, or change,
the payoff method to be used for the payoff quote. The PAYOFF METHOD is defaulted
to the method on the lease form if this method is a valid payoff method for the
lease. Refer to the Lease Form update [U0721] for information on the payoff
method entered. Use Help for a list of valid payoff methods.
Note: If the payoff
method entered on the lease form is not valid for the lease type (for example,
‘OPR’ is invalid for non-operating leases), no value is defaulted and a valid
payoff method must be entered.
For
interest bearing loans, the EFFECTIVE DATE is defaulted with the later of:
- the last payment
effective date, or
- the
accrued to date of the lease.
- FUTURE
PMTS RECD
This field
may only be accessed if a future date beyond the accrued to date of the lease
is entered as the EFFECTIVE DATE of the payoff quote. Enter Y if future payments
(past the accrued to date) are assumed to be received on the payment due dates.
Enter N if no future payments are assumed to be received.
- PARTICIPATION
Enter
X to report on vendor and investor participation information. Leave blank to exclude
this information from the report.
- LEASE
USER DEFINED FIELDS/TABLE
Enter
X to report on user defined fields/table information stored for the lease. Leave
blank to exclude this information from the report. This option appears only if
the User Defined Fields module is purchased, and User Defined Fields and Table
columns are defined through the User Defined Fields/Table option of the Portfolio
update [U0212].
- ASSET
SUMMARY
Enter X to report
on information relating to the asset(s) associated with the lease. Leave blank
to exclude this information from the report.
- ASSET
DETAIL
Enter X to report
more extensive information relating to the asset(s) associated with the lease,
including user defined fields/tables (if applicable). This also includes information
regarding the tax structure of the asset. Leave blank to exclude this information
from the report.
- NOTEBOOK
REPORT
Enter X to report
on all existing notes for the lease. It may be used to review all comments, actions,
problems, and concerns for a lease. Leave blank to exclude this information from
the report.
- AUTOMATIC
LEASE EXTENSION
Enter
X to report on lease extension information upon lease maturity. Lease extension
term, payment schedule, and recurring charges will be displayed. The only valid
automatic lease extension method used is RES.
Administrative Information
This section of the report includes information on accounting and client keys
for the lease.
- PORTFOLIO/COMPANY/REGION/OFFICE
- CUSTOMER
The customer number and
name of the lessee are displayed.
- PARENT
CUSTOMER
The parent
customer number and name of the above CUSTOMER are displayed.
- LESSEE
- VENDOR
- BROKER
- INVESTOR
- GROUP
- CREDIT
APPROV OFF
- DOCUMENT
APPR OFF
- FUNDING
APPR OFF
- RATING
SERVICE
The credit rating
service used for this lease (e.g., TRW) is displayed.
- RATING
The credit rating as stipulated
by the rating service is displayed.
- IN
HOUSE RATING
The credit
rating for this lease is displayed. The rating scale is determined by each user.
- LC EXP
DATE
The letter of credit
expiration date is displayed.
- PRELIM
CREDIT
The preliminary
credit score from the lease lease process is displayed.
- FINAL CREDIT
The
final credit score from the lease lease process is displayed.
- VENDOR STATUS
The
status for the vendor for the lease is displayed.
- COMMENTS
1
Line 1 of comments
for the lease is displayed. Comments may be entered through the Book Lease option
[B] of the New Lease update [U0101] and changed through the Lease update [U0202].
- COMMENTS
2
Line 2 of comments
for the lease is displayed.
- SALESPERSON
- DOLLAR%
The percentages of the dollar
splits to be used for the salesperson commission calculation are displayed. This
information is typically used for splitting commission amounts. It is reported
on the Salesperson Commission report [R0204] and may also be used for custom commission
calculations.
- VOLUME%
The percentage of the volume split to be used when calculating salesperson
commissions is displayed. This field is typically used for splitting booking credits.
It is informational only, and may be used for custom commission calculations.
Address Information
The
Address section of the report displays fields for addresses associated with the
lease. Most of these address are optional and may or may not contain field values.
Address
Information: Lessee
This is the main lessee address. The Field Descriptions below includes all fields
displayed here.
Note:
Subsequent address Field Descriptions will only include fields that are unique
to that particular address type.
- LESSEE
The client id number of
the lessee.
- SHORT
NAME
The short name
for the lessee/co-lessee/guarantor is displayed.
- DEF
PORT
The default portfolio,
company, region, and office of lessee is displayed.
- NAME
The long name for the lessee
is displayed.
- ADDRESS
1
The first address
line for the address type is displayed.
- ADDRESS
2
The second address
line, if any, for the address type is displayed.
- CITY
The city for the address
type is displayed.
- STATE
The state or province for
the address type is displayed.
- ZIP
The ZIP or postal code for
the address type is displayed.
- REMIT
ADDR
The remittance
address code and description are displayed.
- DBA
NAME
The DBA (Doing
Business As) alias for this lessee is displayed.
- CONTACT
The name of the contact
person for the address type is displayed.
- CONT
TITLE
The title of the
contact person for the address type is displayed.
- SIGNER
The name of the person who
will be the authorized signer of all lease documents is displayed.
- SIGNER TITLE
The
title of the person who will be the authorized signer of all lease documents is
displayed.
- LETTER
VER
The letter version
code is displayed.
- LAST
MOD
The initials of
the operator who made the last change to this address type, as well as the date
of the change, is displayed.
- SS/BUS
ID
The social security
or business identification number for the address type is displayed.
- PHONE
The
business phone for the address type is displayed.
- HOME
PHONE
The home phone
for the address type is displayed.
- SALUTATION
The salutation for this
lessee is displayed.
- REMIT
ADDR
The code for the
remittance address is displayed. The remittance address is the address printed
in the REMIT TO section of an invoice.
- TYPE
OF BUS
The code indicating
the type of business for this client is displayed (e.g., proprietorship, partnership,
corporation, etc.).
- DATE
ESTABL
The date in
MM/DD/YY or DD/MM/YY format, depending on the Date
Format Preference field in Security [U0706], the business was established
is displayed.
- CUR
OWNRSHP
The date, in
MM/DD/YY or DD/MM/YY format, depending on the Date
Format Preference field in Security [U0706],of current ownership is displayed.
- TX EXEMPT
NO
The tax exempt certificate
number for the lessee/co-lessee, if any, is displayed.
- SIC
CODE
The Standard Industry
Code for the lessee/co-lessee is displayed.
- BUS
DESC
The type of business
is displayed.
- DATE
INCOR
The date in MM/DD/YY
or DD/MM/YY format, depending on the Date
Format Preference field in Security [U0706],the business of the address type
was incorporated is displayed.
- STATE
INCO
The state in which
the business of the address type was incorporated is displayed.
- DRAWDOWN CRDT LIM
The
lessee’s drawdown credit limit is displayed.
- DRAWDOWN
EXP DATE
The lessee’s
drawdown credit limit expiration date is displayed.
- REVOLV.
CRDT LIM
The lessee’s
revolving credit limit amount is displayed.
- REVOLV.
EXP DATE
The lessee’s
revolving credit limit expiration date is displayed.
- AUTO-APPRV
LIM
The auto-approval
credit limit for this lessee is displayed. This limit allows a privileged user
to approve, without credit investigation, any lease that is less than this limit.
AUTO-APPROV LIMIT may be zero, indicating auto-approval is not allowed for this
lessee.
- FIN
STMT DATE
The lessee/co-lessee
financial statement date is displayed in MM/DD/YY format. This date can be used
to represent the date on which the lessee is required to submit new financial
statements, or the date financial statements were last received from this lessee.
This field is informational only.
Address
Information: Co-Lessee
The co-lessee is entered as a separate lessee through the Lessee
update [U0203] prior to being attached to the lease.
- BIRTHDATE
The birth date is displayed
in MM/DD/YY or DD/MM/YY format, depending on the Date
Format Preference field in Security [U0706]. It may be incomplete.
- AGE
The
age of the co-lessee is displayed.
- MARITAL
ST
The marital status
is displayed.
- #
DEPENDTS
The number
of dependents is displayed.
- LENGTH
OF RESID
The length
of residence (in years and months) is displayed.
- RESID
TYPE
The residence ownership
status code (e.g., own, rent, other) is displayed.
- MONTHLY
PAYMENT
The sum total
of any monthly payment commitments is displayed.
Address
Information: Guarantor
The guarantor information is entered using the Guarantor
update [U0217] prior to the guarantor being attached to the lease.
- RELATION
The relationship of the
address type (e.g., guarantor, personal reference, professional reference, etc.)
to the applicant is displayed.
Address
Information: Personal Reference
The personal reference information is entered as part of the main lessee.
- REGARDING
The Short Name of the client
to whom this reference pertains.
- RGD
CLIENT
The client id
number of the client to whom this reference pertains.
- REF
STAT
The reference status
code for the reference address type is displayed. This code may be used to rate
the reference (e.g., whether it is good, bad, etc.), or to indicate if the reference
check was completed. The date REF STAT was last changed is displayed next to the
reference status code.
Address
Information: Bank Reference
The bank reference is entered as part of the main lessee.
- ACCT
#
The bank or trade
reference account number for the lessee/co-lessee/guarantor is displayed.
- ACCT TYPE
The
code indicating the type of the account (e.g., savings, checking, etc.) is displayed.
- ACCT STAT
The code indicating the
status of the lessee’s account (e.g., favorable, unfavorable, etc.) is displayed.
- DATE OPEN
The date the account was
opened is displayed.
- SECURED
Y/N is displayed to indicate
whether the account is secured by collateral. U is displayed if the secured status
of the account is unknown.
- PERS
GUAR
Y/N is displayed
to indicate whether the account is personally guaranteed. U is displayed if the
personal guarantee status is unknown.
- LOAN
TERM
The term of the
loan in number of months is displayed.
- OUTS
BAL
The outstanding
balance of the lessee/co-lessee/guarantor’s account is displayed.
- AVG BAL
The
average balance of the lessee/co-lessee/guarantor’s account is displayed.
- HIGH BAL
The
highest balance of the lessee/co-lessee/guarantor’s account is displayed.
- LOW BAL
The
lowest balance of the lessee/co-lessee/guarantor’s account is displayed.
Address
Information: Trade Reference
The trade reference is entered as part of the main lessee.
- TERMS
A code indicating the applicant’s
accounts payable status (e.g., net 30, net 60, net 90, COD, discount, etc.) is
displayed.
- PMT
RECORD
This code describes
the payment history of the person or business (e.g., prompt, slow 30, slow 60,
slow 90, etc.).
- YRS
IN BUS
The number of
years that the lessee/co-lessee/guarantor has been doing business is displayed.
Address
Information: Professional Reference
The professional reference is entered as part of the main lessee.
- PROFESSION
The type of professional
reference (e.g., lawyer, doctor, etc.) is displayed.
- IN
GOOD STAND
Y is displayed
if the lessee/co-lessee/guarantor is in good standing with the professional reference.
Otherwise, N is displayed.
- SINCE
The lessee/co-lessee/guarantor
has been (or has not been) in good standing with the professional reference since
this year.
Address
Information: Other/Previous
The
other/previous address is entered as part of the main lessee.
- LEN
OF RES
The number of
years and months in residence at the address is displayed.
- NOTE 1
The
first line of an additional comment or note for the lessee/co-lessee/guarantor
is displayed.
- NOTE
2
The second line of
an additional comment or note for the lessee/co-lessee/guarantor is displayed.
- ID
The miscellaneous ID associated
with the lessee/co-lessee/guarantor is displayed.
Address
Information: Employment 1
The Employment 1 information is entered as part of the main lessee.
- POSITION
The employment position
or job title of the lessee/co-lessee/guarantor is displayed.
- LEN OF EMP
The
number of months and years the lessee/co-lessee/guarantor has been employed at
the address type is displayed.
- MON
SALARY
The monthly salary
of the lessee/co-lessee/guarantor is displayed.
- ADD
INCOME
Any additional
income for the lessee/co-lessee/guarantor is displayed.
- INC
SOURCE
The source of
the additional income (e.g., interest income, alimony, child support, etc.) is
displayed. Note that additional income source could also have been stored on the
NOTEBOOK.
Address
Information: Previous Employment
The previous employment information is entered as part of the main lessee.
Address
Information: Lessee Billing
If filled in, this is the invoicing address. It is entered as part of the main
lessee. If not filled in, invoicing defaults to the main lessee address.
Address
Information: Individual Lease (Lease) Address
This address can be different for each lease attached to a lessee. It is entered
as part of the lease, not the lessee.
Address
Information: Individual Lease (Lease) Billing Address
The lease can be set to use this address for invoicing in place of the lessee
billing or main address. Refer to the lease field BILL
LEVEL for more information.
Terms of Lease
The
Terms of Lease section of the report lists the main financial information of the
lease.
Terms
of Lease: General
This screen lists general terms information.
- CONTRACT
DATE
The date of the
lease is displayed. Generally, the lease date is the date on which the lease documents
were signed by the lessee.
- COMMENCEMENT
DATE
The commencement
date of the lease is displayed. The COMMENCEMENT DATE to the MATURITY DATE is
equal to the LEASE TERM. The lease must commence on the lease’s payment due day.
- DISBURSEMENT
DATE
The date on which
the funds for payment of the leased vehicle/equipment were disbursed, as input
through the Book Lease option of the New Lease update [U0101], is displayed.
- MATURITY
DATE
The date the lease
is scheduled to mature is displayed. The MATURITY DATE is calculated using the
COMMENCEMENT DATE and the LEASE TERM.
- DOC
COMPLETE DATE
The date
on which all documentation requirements for the lease were met is displayed. This
date may be used by captive leasing companies as the release date for equipment
delivery by the manufacturer. This field is informational only.
- LAST REBOOK DATE
The
date of the last rebook, if applicable, is displayed. Rebooks allow changes to
the initial lease information, effective as of the lease commencement, and are
processed through the Rebook update [U0116].
- SYSTEM
BOOKING
The date and
time the lease was booked on the system are displayed.
- ASSUMED
LSE DATE
The date of
the last lease assumption, if applicable, is displayed.
- VERIFIC RETURN
The
receipt date of the verification of assets on lease. This date is informational
only.
- ACQUISITION
COST
The invoice price
of the asset(s) tied to the lease (before tax, charges or fees) is displayed.
If multiple assets are tied to the lease, the sum of the acquisition costs of
all assets for the lease is displayed. The acquisition cost is the starting basis
for depreciation.
- OTHER
CHARGES
These charges
are not associated with accounts payable and are not included in the depreciation
base of the asset.
- DOWN
PAYMENT
The down payment
for the lease is displayed. The full amount of the down payment immediately reduces
the net investment of the lease.
If
Down Payment is informational only, this field will not be populated with the
Down Payment amount entered for the lease. The TOTAL DOWN PAYMENT field in the
report will default the informational down payment amount. Note:
If the DOWN
PAYMENT IS INFORMATIONAL ONLY in Miscellaneous Customization option of
the Portfolio update is set to Y, this field may be informational only and have
no impact on calculation of yields, payments, invoices or G/L transactions.
- RESIDUAL AMT
The
total residual (guaranteed plus unguaranteed) of all assets attached to the lease
is displayed.
- GUARANTEED
RESID
The guaranteed
portion of the total residual for the lease, if any, is displayed.
- SECURITY DEPOSIT
The
security deposit held for the lessee is displayed.
- INTERIM
RENT
May be used to
represent the rental income for the partial period between the lease date and
the commencement (first payment) date. It is an amount due at lease commencement.
- MARK UP
The mark up of the asset
is displayed. MARK UP is informational only and does not affect the capitalized
cost of the lease.
- INS
PREMIUM
The total insurance
premium paid to the broker for all assets on the lease is displayed.
- NOTARY FEE
The
notary fee paid to the broker is displayed.
- INSURANCE
FEE
The insurance fee
receivable is displayed. The fee is a percentage of the insurance premium, as
established on Portfolio update [U0212], New Lease customization.
- VENDOR SUBSIDY
The
vendor subsidy receivable is displayed.
- DOCUMENTATION
FEE
The documentation
fee is displayed. The DOCUMENTATION FEE may be considered a part of initial direct
costs.
- BOOK
IDC
The initial direct
costs for book purposes is displayed. Refer to the Calculations document
for more information on IDC
calculation.
- TAX
IDC
The initial direct
costs for tax purposes is displayed.
- FIXED
RATE RESERVES
The IDC3-
Fixed Rate Reserve total amount for the lease is displayed.
- STANDARD RESERVES
The
IDC4 - Standard Reserve total amount for the lease is displayed.
- GUARANTEED RESERVES
The
IDC5 - Guaranteed Reserves total amount for the lease is displayed.
- SUBVENTION
The
total IDR5 - Subvention amount for the lease is displayed.
- DEALER BUY DOWN
The
total IDR6 - Dealer Buy Down amount for the lease is displayed.
- CREDIT LIFE INSURANCE 1
The total IDR7 - Credit
Life Insurance 1 amount for the lease is displayed.
- CREDIT
LIFE INSURANCE 2
The
total IDR8 - Credit Life Insurance 2 amount for the lease is displayed.
- CR DISIBILITY INS 1
The
total IDR9 - Credit Disability 1 amount for the lease is displayed.
- CR DISABILITY INS 2
The
total IDRA - Credit Disability Insurance 2 amount for the lease is displayed.
- ACQUISITION FEE
The
total IDRB -Acquisition Fee amount for the lease is displayed.
- BROKER FEES
The
amount of the broker fee is displayed. The broker fee may be considered a part
of initial direct costs.
- BROKER
FEE A/P
The amount of
broker fees not yet disbursed through a check to the broker is displayed. Broker
fees may be disbursed when the lease is booked (on the last screen of the Book
Lease option of the New Lease update [U0101]) or afterwards through the Disburse
Check option [DC] of the New Lease update [U0101].
- BROKER
The broker number, if applicable,
is displayed.
- BROKER
METHOD
The method of
the factoring of the broker payment into the lease transaction (e.g., built in
principal, built in rate, or no broker) is displayed.
- INSURANCE
PREMIUM BROKER
The code
for the broker to which insurance premium is paid
- NOTARY
FEE BROKER
The code
for the broker to which notary fee is paid
- REGISTRATION
FEE
The amount of registration
fee receivable associated with the lease. Appears on the first invoice.
- OPENING COMMISSION
The
amount of opening commission receivable associated with the lease. Appears on
first invoice.
- PAP
(Y/N)
The Pre-Authorized
Payment switch is displayed.
- PAP
EFFECTIVE DATE
The Pre-Authorized
Payment effective date, if applicable, is displayed.
- YIELD
The calculated internal
rate of return (IRR) for the lessor is displayed. This yield is used to determine
the income accrual for level yield (APR) leases. It is calculated for all precomputed
interest leases, for operating leases with fixed terms and for certain special
simple interest floating rate leases. Refer to the Calculations document for more
information on the calculation
of IRR.
- IRR
W/RESIDUAL
The internal
rate of return is calculated using the residual, the acquisition cost, broker
fees and the payment stream. This field is informational only and is initially
calculated in the Application update [U0801].
The IRR is recalculated when the lease is booked if any of the parameters used
in its calculation are changed. Refer to the Calculations document for more information
on the calculation
of IRR.
- IRR
W/O RESIDUAL
The internal
rate of return without residual is calculated using the acquisition cost, broker
fees and payment stream. This field is informational only and is initially calculated
in the Application update [U0801].
The IRR W/O RESIDUAL is recalculated when the lease is booked if any of the parameters
used in its calculation are changed. Refer to the Calculations document for more
information on the calculation
of IRR without residual.
- FIXED
RATE
The interest rate
for a simple interest fixed rate lease is displayed.
- ADD-ON
RATE
The add-on percentage
for the lease is displayed. This information is applicable for simple interest
floating rate leases only.
- BAD
DEBT %
The bad debt
percentage recorded for the lease is displayed.
- INSURANCE
PREMIUM AP
The amount
of insurance premium not yet disbursed through a check to the broker is displayed.
Premiums may be disbursed when the lease is booked (on the last screen of the
Book Lease option of the New Lease update [U0101]) or afterwards through the Disburse
Check option [DC] of the New Lease update [U0101].
- NOTARY
FEE AP
The amount of
notary fees not yet disbursed through a check to the broker is displayed.
- NPV DISCOUNT RATE
For
net present value payoff calculations, this rate is used to discount the remaining
payment stream. The resulting net present value is the base payoff amount.
- FLOAT
INDEX CODE
The base
rate code to which the lease is tied is displayed. FLOAT INDEX CODE is used for
floating interest rate leases only and is used with the add-on rate to calculate
interest for the lease. Base rates are maintained through the Base Rate update
[U0705].
- FLOAT
INDEX NAME
The long
name associated with the FLOAT INDEX CODE is displayed.
- FLOAT FLOOR
The
interest rate floor for the lease is displayed. This information is applicable
to floating rate leases only and represents the minimum interest rate that may
be applied to the lease.
- FLOAT
CEILING
The interest
rate ceiling for the lease is displayed. This information is applicable to floating
rate leases only and represents the maximum interest rate that may be applied
to the lease.
- BASE
RATE AT COMMENCEMENT
The
base rate at commencement is displayed.
- ORIG
U/E LESSOR
The initial
lessor unearned rental income (lessor’s portion) for the lease is displayed.
- ORIG U/E RESIDUAL
The
original unearned residual of the lease is displayed.
- LEASED
ASSET COST
The inventoried
value of the assets at the time of booking for operating leases is displayed.
This is the net book value at the beginning of the lease term.
- FIXED PRICE PURCH
The
fixed price purchase option amount, if any, is displayed. If a lease with fixed
price purchase has not yet matured, the PAYOFF CALCULATION METHOD is used to calculate
an early payoff amount. At maturity, the fixed price purchase option is the base
payoff amount. It is billed to the lessee, as specified in the PURCHASE OPTION
BILLING field, due on the lease maturity date. On leases billed in arrears, this
amount will appear on the final invoice along with the final rent amount. On leases
billed in advance, the final rent is due at the beginning of the final period.
A separate invoice for the fixed price purchase amount will be produced, due on
the maturity date.
- PURCHASE
OPTION
The purchase
option method (e.g., percentage, calculated, fixed, etc.) is displayed.
- TRADE-IN AMT
The
trade-in value for the lease is displayed. The trade-in amount is informational
only.
- TRADE-IN
DESCRIP
A description
of the trade-in, if any, is displayed.
- LEASE
DESCRIPTION
The description
of the lease, as entered through the Book Lease option of the New Lease update
[U0101], is displayed.
- AUTO
CHARGE OFF
This field
indicates if the lease will be automatically charged off through an End of Day
process. The Auto Charge Off field will only be displayed if the Auto Charge Off
module is purchased.
For
more information on the Auto Charge Off module refer to the "End of Day Auto
Charge Off [U0440]" in End of Period modules [U0401].
- LEASE
TERM
The lease term in months is displayed.
- ESTIM
LEASE TERM
If the lease
is a month-to-month operating lease with initial direct costs associated with
it, the estimated term of the month-to-month lease is displayed. The estimated
term is used for IDC amortization purposes and is entered at lease booking time
by the user.
- GRACE
PERIOD
The number of
days in the grace period of the lease is displayed.
- NUM
ASSUMPTIONS
The number
of times this lease has been assumed by another lessee is displayed.
- NUM ASSETS
The
number of assets on this lease is displayed.
- ASSUMED
PAYMENT
YES is displayed
if the lease has assumed payments. With the Batch Payments module of LeasePak,
leases with assumed payments may have their payments automatically paid when they
become due. This is useful if payments are assigned to and collected by a third
party. The Batch Payments module is a separately licensed module of LeasePak.
- RESID
INC SEPARAT
YES is displayed
if the residual income is separated from lessor income for accrual purposes.
- BUSINESS/PERSONAL (B/P)
- OPEN/CLOSED
(O/C)
- BACKDATED
NEW LSE
YES is displayed
if the lease is backdated. This parameter is set at the system level and is invisible
to the user.
- FUNDING
INTEREST DAYS
This field
is not stored, but represents the difference in days between the commencement
date and disbursement date. Refer to the FUNDING
INT /DAYS field in the Book Lease option of New Lease (U0101).
- DISCOUNT INVST
The
investor or investor group associated with the lease when discounted is displayed.
- LEASE
SOURCE
The origin of
the lease (e.g., direct, indirect, broker) is displayed.
- LEASE FORM CODE
The
lease form code is displayed. The lease form code associates additional parameters
to the lease, such as payoff and termination information, insurance requirements,
and late charge information.
- CONTRACT
TYPE
The type of lease
(e.g., finance, conditional sales, etc.) is displayed. The lease type is primarily
informational only, with the exception of operating lease type.
- ENTITY CODE
The
entity of the lease is displayed. The entity code is used for municipal leasing
and indicates the department or agency within the municipality that is using the
leased asset (e.g., fire department, police department, hospital, etc.).
- ACT STATUS
The activity
status of the lease is displayed (e.g., active normal, active renegotiated, active
assigned for repossession, non-accrual hold, etc.). Refer to Status Codes
for a list of all lease
activity status codes and their meanings.
- LATE
CHARGE INDEX
The base
rate to be used for the GFL late charge calculation is displayed.
- STATEMENT (I/C/F/N)
The
statement format (individual invoice, coupon book, consolidated bill, no invoice)
is displayed.
- BILL
LEVEL (C/L/I)
The address
to which the lease should be billed is displayed.
- SEC
DEP INT (Y/N)
‘YES’
is displayed if the security deposit is interest bearing. ‘NO’ is displayed otherwise.
INT BEAR SEC DEP is informational only.
- GROUP
The group number is displayed.
- PREV LSE
IN GRP
The lease number
of the lease previous to the current lease in the group is displayed.
- NEXT LSE IN GRP
The
lease number of the lease next to the current lease in the group is displayed.
- NOTES
PAYABLE
The notes payable
key (if any) attached to the lease is displayed.
- PRODUCT
TYPE CODE
The Product
Type Code, if applicable, is displayed.
Terms
of Lease: Recurring Charges
Recurring
charge information, if any, will be displayed for the lease.
- RECURRING
CHARGES - NAME
The name
of each recurring charge is displayed.
- RECURRING
CHARGES - TYPE (E/I/P/T)
The
type (E/I/P/T) of the recurring charge is displayed.
- RECURRING
CHARGES - START DATE
The
starting date for the recurring charge assessment is displayed. The recurring
charge is invoiced with every lease payment due on or after this date up through
the END DATE shown in the next field (not the lease maturity date).
- RECURRING CHARGES - END DATE
The ending date for the
recurring charge assessment is displayed. The recurring charge is included with
every lease payment due from the START DATE through this date.
- RECURRING CHARGES - AMOUNT
The recurring charge amount
to be assessed with each payment is displayed. If the recurring charge type is
T (tax special method), the amount of the recurring charge is the amount entered
here plus the calculated use tax on the payment. Thus, the amount shown may be
zero. This special method bypasses the normal use tax accounting and uses the
recurring charge payable accounting instead.
The
recurring charge type is specified in the Portfolio update [U0212AS]. If the START
DATE is equal to the lease commencement date, and there are multiple advance payments,
one charge is assessed for each advanced payment.
- RECURRING
CHARGES - PAYABLE TO BROKER
The
broker number to whom the charge is to be paid is displayed. This field is used
only if the recurring charge type is P (payable) or T (special tax method).
- RECURRING CHARGES - PAYABLE
TO VENDOR
The vendor
number to whom the charge is to be paid is displayed. This field is used only
if the recurring charge type is P (payable) or T (special tax method).
Terms
of Lease: Amounts Due at Lease Commencement (without Partial Deductions)
For
users who do not own Partial Deductions (a separately purchased module of LeasePak),
the above information is displayed.
Field
Descriptions
- AMOUNTS
DUE AT LEASE COMMENCEMENT
A
list of the possible amounts due at lease commencement is displayed. These include
security deposit, advance payments, down payment, interim rent, registration fee,
opening commission, recurring charges, upfront sales tax, advance payment tax,
down payment tax, interim rent tax, registration fee tax, and opening commission
tax. If the Sales Tax on Assessments module is purchased, this list also includes
sales tax received for advance recurring charges. If the Partial Deductions module
is purchased, and the lease was booked with this module active, an alternate format
is used to display these amounts due. This alternate format shows the breakdown
of each amount due as allocated into the possible fields, AMT RECEIVED, INVOICED,
A/P, and SUSPENSE.
- AMT
RECEIVED
The amount
received (and processed through the Book Lease update [U0101]), if any, is displayed
for each type that can be due at lease commencement. If the Partial Deductions
module is purchased this field represents the amount of cash processed.
- PMT OPT
The
payment option for the amount due, if it was not received, is displayed. If the
Partial Deductions module is purchased, this field is replaced with multiple fields
showing the allocation of the amount(s) due.
Terms
of Lease: Amounts Due at Lease Commencement (with Partial Deductions)
For
users who own Partial Deductions, amounts due are displayed as shown above.
Field
Descriptions
- AMT
DUE
The column only
appears if the lease was booked with the Partial Deductions module purchased.
The original amount due (and processed through the Book Lease update [U0101]),
if any, is displayed for each type that can be due at lease commencement.
- INVOICED
The
column only appears if the lease was booked with the Partial Deductions module
purchased. The amount invoiced (and processed through the Book Lease update [U0101]),
if any, is displayed for each type that can be due at lease commencement.
- A/P
The
column only appears if the lease was booked with the Partial Deductions module
purchased. The amount received by the vendor (and processed through the Book Lease
update [U0101]), if any, is displayed for each type that can be due at lease commencement.
These fields represent the total amount of A/P to reduce for all assets.
- SUSPENSE
The
column only appears if the lease was booked with the Partial Deductions module
purchased. The amount of over payment placed into suspense (and processed through
the Book Lease update [U0101]), if any, is displayed for each type that can be
due at lease commencement.
Terms
of Lease: IDC/IDR Information
Terms
of Lease: Insurance Information
At lease one set of insurance information fields will appear in the report, even
if the insurance type is reported as "Not Required". For leases with
more than one insurance listing, all listings will be displayed in the report.
Field
Descriptions
- INSURANCE
TYPE
The type of insurance
(e.g., full coverage, self-insured, not required, etc.) is displayed.
- INSURAN STATUS
The
status of the insurance documents (e.g., not required, complete and correct, incomplete)
is displayed.
- LOSS
PAYEE
The name of the
person or company to whom money should be paid in the case of any accident or
loss is displayed.
- AGENT
The name of the agent or
insurance broker is displayed.
- ADDRESS
1 / 2
The first address
line of the agent or insurance broker is displayed.
- CITY/STATE/ZIP
The address of the agent
or insurance broker is displayed.
- CONTACT
NAME
The name of the
contact person at the insurance company is displayed.
- CONTACT
TITLE
- COVERAGE
TYPE
The insurance coverage
type provided by the policy (e.g., comprehensive, liability, property damage,
collision, etc.) is displayed.
- POLICY
#
The insurance policy
number is displayed.
- CARRIER
The name of the company
providing insurance is displayed.
- EFFECTIVE
DATE
The date the policy
came into effect is displayed.
- EXPIRATION
DATE
The date the policy
expires is displayed.
- AMOUNT
The amount of coverage for
this policy is displayed.
- CONTACT
PHONE
The area code
and phone number of the insurance agent or broker is displayed.
Terms
of Lease: Target Principal Levels
For interest bearing loans (IBL's), target principal information, if any, will
be displayed.
Field
Descriptions
- PAYMENT
The payment number, starting
with 1 and proceeding to the total number of payments scheduled for the loan,
is displayed.
- DUE
DATE
The due date associated
with each payment is displayed.
- TARGET
PRINCIPAL
The target
principal level for the indicated payment is displayed. Refer to Reference Guide
APPLICATION SCREEN 7 [A7] for more details.
Terms
of Lease: Revolving Credit
When
Revolving Credit limit and Revolving Credit Line Fee% are entered either through
Application
[U0801] or Book
Lease [U0101], the information is displayed under the Terms of the Lease.
Revolving Credit fields
may be updated through the Master Financial [U0202]. LeasePak will store and display
the last 4 changes made to the Revolving Credit Limit and the Revolving Credit
Limit Effective Date fields. The Revolving Credit Line Fee% field will only display
the most current change made.
Accrual
Information
The
Accrual Information section of the report provides information relating to the
monthly accrual cycle of the lease.
Accrual
Information: General
This first part displays accrual dates, amounts, and other information.
Field
Descriptions
- ACTIVITY
STATUS
The activity status of the lease is displayed (e.g., active normal,
active renegotiated, active assigned for repossession, non-accrual hold, etc.).
Refer to Status Codes for a list of all lease
activity status codes and their meanings.
- ACT
STATUS DATE
The date
of the last activity status change is displayed.
- LAST
UPDATE TIME
The time
that any field in the Master Financial record was last changed is displayed.
- LEASE EXTENDED
YES
is displayed if the lease has been extended.
- #
LEASE EXTENSION
The
number of times the lease has been extended is displayed.
- LEASE EXTENS DATE
The
date of the last lease extension, if applicable, is displayed. Lease extensions
are processed through the Lease Extension update [U0108].
- LEASE EXTEN METHD
The
method under which the lease was extended, if applicable, is displayed.
- ACCR METH LESSOR
The
method of rental income recognition for the lessor is displayed. The accrual method
also shows whether payments are due in advance (method starts with an A) or arrears
(method starts with an R). For descriptions of valid accrual
methods, refer to the Calculations document.
- REACCR
LST PERIOD
YES is displayed
if the income accrual for the last period should be recalculated (for floating
rate interest leases accruing in advance only).
-
CAP INTEREST
YES is
displayed if interest during SKIP payment periods should be capitalized. A lease
level field controls this accrual.
- ACCRUED
PRINCIPAL
Accrued principal
is the net outstanding balance used with the lessor yield factor to calculate
the next month’s earned income for level yield type leases. It represents the
net investment in the lease if there is no security deposit or unearned ITC income.
The following equations
are used to determine net investment:
- Precomputed
interest leases:
ACCRUED
PRINCIPAL
+ SECURITY DEPOSIT
+ UNEARNED ITC
(if ITC is included
in the yield -- see NOTE)
or
CONTRACT
RECEIVABLE
+ RESIDUAL
- LESSOR, VENDOR, INVESTOR, and RESIDUAL
UNEARNED INCOME
+ UNAMORTIZED BOOK IDC
Note:
Refer to the INITIAL
DIRECT COST EXCLUDED FROM YIELD parameter on the first screen of the New
Lease Customizations option of the Portfolio update [U0212] for more information.
- Simple interest leases:
ACCRUED
PRINCIPAL
- CONTRACT
RECEIV
The total of
the net unbilled monthly payments that are to be accrued over the remaining life
of the lease is displayed (applicable to precomputed leases only).
- PRINCIPAL RECEIV
The
difference between the scheduled income accrual and the actual income accrual
for the LT accrual methods (floating rate interest with level payments) is displayed.
Refer to the Accrual Methods section in the Calculations document for more
information on the LT
accrual methods.
- DFRD
RESIDUAL RED
The amount
of residual deferred for cash basis RES method extended leases. Refer to the Accrual
Methods section in the Calculations document for more information on the
RES accrual
methods.
- LESSOR
REMAIN U/E
The remaining
unearned income to be earned over the life of the lease is displayed (applicable
to precomputed leases only).
- LESSOR
INCOME MTD
The earned
income for the most recently accrued month is displayed. The date shown on the
ACCRUED TO DATE is the end of the most recently accrued month.
- LESSOR INCOME PTD
For
active leases, the income earned period-to-date but not yet billed is displayed
(non-monthly leases only). For matured leases, the final period’s income billed
is displayed.
- DEFERRED
EXT INCM
The amount of income deferred for cash basis RES method extended
leases. Refer to the Accrual Methods section in the Calculations document for
more information on the RES
accrual methods.
- RESID
REMAIN U/E
The remaining
unearned residual income to be earned over the life of the lease is displayed
(applicable to precomputed leases only).
- RESID
INCOME MTD
The earned
residual income for the most recently accrued month is displayed. The date shown
on the ACCRUED TO DATE is the end of the most recently accrued month.
- RESID INCOME PTD
For
active leases, the residual income earned period-to-date but not yet billed is
displayed (non-monthly leases only). For matured leases, the final period’s residual
income billed is displayed.
- EXT
INCM CASH/ACC
The residual/income
recognition basis for extended leases. Either CASH or ACCRUAL may be used depending
on the extension method.
- UNAMOR
IDC - BOOK
The remaining
amount of initial direct costs not yet amortized is displayed.
- IDC AMORT MTD (BOOK)
The
amount of initial direct costs amortized during the last accrual process is displayed.
- IDC AMORT
YTD (BOOK)
The amount
of initial direct costs amortized to date for the current fiscal year is displayed.
- UNAMOR IDC - TAX
The
remaining amount of initial direct costs (tax) not yet amortized is displayed.
- IDC AMORT
MTD (TAX)
The amount
of initial direct costs (tax) amortized during the last accrual process is displayed.
- IDC AMORT
YTD (TAX)
The amount
of initial direct costs (tax) amortized to date for the current fiscal year is
displayed.
- IDC
REDUCTION
The amount
of reduction in unamortized initial direct costs (book) is displayed.
- LESSOR INC REDUCTION
The
amount of reduction in lessor earned income is displayed.
- RESID INC REDUCTION
The
amount of reduction in earned residual income is displayed.
Accrual
Information: IDC/IDR Amortization
Amortization of IDC and IDR accounts, if any, is displayed.
Field
Descriptions
- INS
PREM IDC
The initial
direct cost of insurance premium amortized for the period is displayed.
- INS FEE IDR
The
income from insurance fee amortized for the period is displayed.
- NOTARY FEE IDC
The
initial direct cost of notary fee amortized for the period is displayed.
- REGISTRATION FEE IDR
The
income from registration fee amortized for the period is displayed.
- DEALER SUBSIDY IDR
The
income from vendor/dealer subsidy amortized for the period is displayed.
- OPENING COMMISSION IDR
The
income from opening commission amortized for the period is displayed.
- FIXED RATE RESERVES
The
IDC3- Fixed Rate Reserve total amount for the lease is displayed.
- STANDARD RESERVES
The
IDC4 - Standard Reserve total amount for the lease is displayed.
- GUARANTEED RESERVES
The
IDC5 - Guaranteed Reserves total amount for the lease is displayed.
- SUBVENTION
The
total IDR5 - Subvention amount for the lease is displayed.
- DEALER BUY DOWN
The
total IDR6 - Dealer Buy Down amount for the lease is displayed.
- CREDIT LIFE INSURANCE 1
The total IDR7 - Credit
Life Insurance 1 amount for the lease is displayed.
- CREDIT
LIFE INSURANCE 2
The
total IDR8 - Credit Life Insurance 2 amount for the lease is displayed.
- CR DISIBILITY INS 1
The
total IDR9 - Credit Disability 1 amount for the lease is displayed.
- CR DISABILITY INS 2
The
total IDRA - Credit Disability Insurance 2 amount for the lease is displayed.
- ACQUISITION FEE
The
total IDRB -Acquisition Fee amount for the lease is displayed.
- WARRANTY FEE
The
total IDRC - Warranty Insurance Fee amount for the lease is displayed.
Note: The additional
IDC/IDR fields appear when the Vehicle Finance module is purchased and IDC/IDR
fees are entered on the lease.
Accrual
Information: Additional Information
Field Descriptions
- ACCRUED USE TAX
The total lease-to-date
use tax accrued for all assets belonging to the lease is displayed.
- PMT AMT ACCRD YTD
The total amount of
payments accrued year-to-date for the lease is displayed. This amount appears
on the Taxable Income report [R0301] for a true lease tax type, where the
taxable income is for accrual basis tax reporting. Refer to the Taxable
Income report [R0301] for more information.
- TITLING TAX
The titling tax paid
up-front, as entered through the Book Lease option of the New Lease update
[U0101], is displayed.
- RENTAL INCOME YTD
The total accrued income
(lessor + vendor + investor) is accumulated monthly in this field and may
be cleared (reset to zero) at the end of the year 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 Clear Year to Date Fields update [U0482] is executed.
- LESSOR INCOME YTD
The year-to-date rental
income accrued for the lessor is displayed.
- P/I ADJUST (OP)
The principal/income
adjustment amount (for income accrual purposes) for operating leases is displayed.
- OUTS LOAN BAL-IBL
The current outstanding
principal balance as of the current date for an interest bearing loan is displayed.
If any principal balance changes (i.e., payments, payment reversals, add-ons,
etc.) with an effective date after the current date were processed, they are
not included in the OUTSTANDING LOAN BALANCE shown. They are included if the
current date is on or after the effective date.
- GL LESSOR INCOME MONTH TO
DATE (MTD)
When the GL Lessor Income
is selected in the End of Period Customization option of the Portfolio [U0212]
update, for end of month processing, LeasePak will read through the RTX file
for each lease and add and subtract the debits and credits to calculate the
month to date GL lessor income.
- GL LESSOR INCOME YEAR TO DATE
(YTD)
When the GL Lessor Income
is selected in the End of Period Customization option of the Portfolio [U0212]
update, for end of month processing, LeasePak will read through the RTX file
for each lease and add and subtract the debits and credits to calculate the
year to date GL lessor income.
- GL LESSOR INCOME LIFE TO DATE
(LTD)
When the GL Lessor Income
is selected in the End of Period Customization option of the Portfolio [U0212]
update, for end of month processing, LeasePak will read through the RTX file
for each lease and add and subtract the debits and credits to calculate the
life to date GL lessor income.
- GL LESSOR INCOME PREVIOUS
(YTD)
The G/L Lessor Income Previous YTD is displayed.
This
field works in conjunction with the 1997
JULE Fund module and is new LeasePak functionality for release v5.0a.
Note: The 1997
JULE Fund module, will calculate all GL Lessor Income [U0446] for
leases that were booked after the option was selected. Any leases booked prior
to the selection in Portfolio [U0212] or purchase of the JULE Fund 97 module
will be calculated on a forward basis.
- SCHED INT PTD-SIM
The scheduled interest
amount, based upon the initial starting parameters of a simple interest floating
rate loan, is displayed. Scheduled interest is calculated for the LT, VT,
VV, and VL simple interest accrual methods.
- U/E CHANGES YTD
The amount of changes
to unearned lessor income during the year is displayed. This field is currently
not used by LeasePak.
- CONT RECEIV BOY
The contract receivable
at the beginning of the year is displayed (applicable to precomputed leases
only). This field is currently not used by LeasePak.
- LESSOR U/E BOY
The unearned lessor
income at the beginning of the year is displayed. This field is currently
not used by LeasePak.
- RESIDUAL BOY
The residual income
at the beginning of the year is displayed. This field is currently not used
by LeasePak.
Accrual
Information: Suspended Earnings
Field Descriptions
- DATE
ON SUSPENSN
The last
date the earnings were suspended for the lease is displayed.
- SUSPEND EFF DATE
The
effective date of the earnings suspension for the lease is displayed.
- 1ST PMT ON SUSPEN
The
first payment due date for which earnings were suspended is displayed.
- SUSP INC ACCR LES
The
lessor income accrued while the lease is on suspension is displayed.
- SUSP IDC ACCR
The
amount of suspended IDC accrued for the lease is displayed.
- SUSP INC COLLECTD
The
income collected while the lease is on suspension is displayed.
- 1ST SUSPENDED PMT
The
amount of suspended income on the first payment suspended is displayed (applicable
to non-monthly leases suspended in the middle of a payment period).
Accrual
Information: Capital Cost Allowance
Field
Descriptions
- CAPITAL
COST ALLOWANCE - ACCRUAL METHOD
The
accrual method of the notional loan for the CCA purpose is displayed.
- CAPITAL COST ALLOWANCE - RATE
EFF DATE
The bond rate
effective date is displayed.
- CAPITAL
COST ALLOWANCE - BOND RATE
The
rate of the Government of Canada Bonds effective on the last Wednesday of the
month before the month immediately preceding the month of the lease commencement
date is displayed.
- CAPITAL
COST ALLOWANCE - NOTIONAL INT RT
The
notional interest rate, which is compounded semi-annually based on the bond rate
plus the add-on rate defined through the Modules Customization of the Portfolio
update [U0212], is displayed. The calculation formula is displayed as follows:
- CAPITAL
COST ALLOWANCE - CAPITAL COST
The
total capital cost of all assets on the lease is displayed.
- CAPITAL COST ALLOWANCE - ACCRUED
PRINCIPAL
The remaining
principal yet to be accrued on the notional loan is displayed.
- CAPITAL COST ALLOWANCE - FIXED
RATE
YES is displayed
if the notional interest rate calculated and displayed is used throughout the
life of the lease for CCA purpose. NO is displayed if the notional interest rate
should be calculated based on the bond rate on the last Wednesday of the month
before the month immediately preceding the month of the accrued to date of each
payment on the lease.
Payment Information
The
Payment Information section of the report provides current and historical payment
information for the lease.
Payment
Information: General
The first part displays general information, including payment dates and times
delinquent.
Field Descriptions
- ACT LAST PMT DATE
The
date the last payment to this lease was processed is displayed.
- ACT NEXT PMT DATE
The
due date of the most delinquent invoice on the Accounts Receivable (RAR)
file is displayed. If there are not any outstanding invoices, the next payment
date is displayed.
- LST
PMT DUE BILLD
The due
date of the last payment billed is displayed. When the lease next accrues income,
the Accounts Receivable (RAR)
record with this date is checked to see if it is paid. If not, late charges may
be assessed.
- LST
PMT EFF DATE
The effective
date of the last payment processed is displayed.
- NXT
PMT TO BILL
The due
date the next payment is to be billed through the accrual process is displayed.
- PMT EXTENDED
FROM
The date that payments
were extended from for the last payment extension is displayed.
- PMT EXTENDED TO
The
date that payments were extended to for the last payment extension is displayed.
- # MONTHS
PMT EXT
The number of
times the payments have been extended is displayed. This counter starts at the
inception of the lease.
- #
DUE DATE CHNGES
The
number of times the payment due day has been changed is displayed. This counter
starts at the inception of the lease.
- OUTST
A/R BALANCE
The total
accounts receivable (including use tax) currently due is displayed.
- LATE CHRG WAIVER
The
total dollar amount of late charges waived life-to-date for this lease is displayed.
Late charges are waived through the Assessment Waiver option of the Assessment
update [U0105].
- INT
CARRYOVER IBL
With release
2.1a of LeasePak, this field is obsolete.
- INT
UNPAID IBL
For interest
bearing loans only: the total amount of interest unpaid through the last payment
effective date is displayed. When a late payment results in additional interest,
that interest is billed on the next invoice to accrue. When an early payment results
in an interest credit, future interest billing is automatically reduced by the
amount of the credit.
- AMOUNT
CURR PAID
The total
of lease payments paid. The PRINT PAYMENT AMOUNT ON INVOICE switch on the Portfolio
file should be set to Y if you wish to reset the field to zero each time invoice
is printed during end of period.
- AMOUNT
LAST PAID
If the LAST
PAID AMOUNT ON INVOICE switch on the Miscellaneous Customization option
of the Portfolio update is set to Y, the amount from AMOUNT CURR PAID will be
carried over into this field during invoicing at end of period.
- # PMTS PROCESSED
The
total number of payments processed for the lease or interest bearing loan is displayed.
- # LATE
CHARG WAIV
The number
of times late charges have been waived for this lease is displayed. Late charges
are waived through the Assessment Waiver option of the Assessment update [U0105].
- # TIMES
DELNQ 30
The number of times
the lease has had invoices one to 30 days delinquent is displayed. These counters
increment during End of Day Sequential Updates [U0411] in the Late Charges
Calculation and Assessment module, providing the lease has delinquent, unpaid
invoices. The counters will not be updated if this module is not run at End
of Day or if the Late Charge Method for the lease is NONE. The ending day
30 is a customized value. Refer to the DELINQUENCY
CATEGORY BOUNDARIES parameters on the third screen of the Miscellaneous
Customizations option of the Portfolio update [U0212].
- #
TIMES DELNQ 60
The number
of times the lease has had invoices 31 to 60 days delinquent is displayed.
- # TIMES DELNQ 90
The
number of times the lease has had invoices 61 to 90 days delinquent is displayed.
- # TIMES DELNQ 120
The
number of times the lease has had invoices 91 to 120 days delinquent is displayed.
- # TIMES
DELNQ 150
The number
of times the lease has had invoices 121 to 180 days delinquent is displayed.
- # TIMES DELNQ 180
The
number of times the lease has had invoices 181 days delinquent is displayed.
- # TIMES DELNQ 180+
The
number of times the lease has had invoices 181or more days delinquent is displayed.
- NET RECEIPTS
YTD
The total dollar
amount of the payments received year-to-date is displayed. This amount appears
on the Taxable Income report [R0301] for true lease tax types, where the taxable
income is for cash basis tax reporting. It may be cleared (reset to zero) at the
end of the year through Clear Year to Date Fields update [U0482]. 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 update is executed.
- NET RECEIPTS LTD
The
total dollar amount of the payments received life-to-date is displayed.
- OTHER INCOME YTD
The
total dollar amount of other income received year-to-date is displayed. Examples
of other income include late charge and other assessment income. This amount appears
on the Taxable Income report [R0301] and may be cleared (reset to zero) at the
end of the year through the Clear Year to Date Fields update [U0482]. Use the
END OF PERIOD MODULES AND REPORTS screen under the End of Period Customizations
option [EP] of the Portfolio update [U0212] to specify whether the update is executed.
- OTHER
INCOME LTD
The total
dollar amount of other income received life-to-date is displayed.
- PAYMENT DUE DAY
The
day on which the lease payments are due is displayed.
- PMT
DUE LAST ACCR
YES is
displayed if a payment was due during the last accrual. This information is for
system use only.
- LATE
CHARGE METH
The late
charge assessment method (e.g., percentage, fixed amount, none) is displayed.
The method is defaulted to the method on the lease form code; it may be changed
to NONE when the lease is booked or through the Master Financial update [U0202].
- DELNQ
WATCH CODE
This code
specifies the number of days after the payment due date before a lease appears
on the delinquency report, if the watch code is used to determine delinquency
(instead of the grace period), or before a lease is considered delinquent by
the collections module. Refer to the following parameters found on the third screen
of the Miscellaneous Customizations option [MI] of the Portfolio update [U0212]:
DELINQUENCY
REPORT INTERACTIVE WATCH CODE OR GRACE PERIOD
DELINQUENCY
REPORT END OF PERIOD WATCH CODE OR GRACE PERIOD
If
the Collection Tracking module is purchased, refer to the following parameter
found on the Miscellaneous Customizations option of the Collections Portfolio
update [U1122]:
DETERMINE
LESSEE DELINQUENCY BY WATCH CODE/GRACE PERIOD
- PURCH
OPT BILLED
YES is displayed
if the purchase option for the lease has been billed.
- # PMT RESCHEDULES
The
total number of payment reschedules are displayed. The counter starts at the inception
of the lease.
- #
PMT EXTENSIONS
The total number of payment extensions are displayed. The counter starts
at the inception of the lease.
- PRINCIPAL
PD YTD
The year-to-date
repayment of principal accrued on the asset is displayed. This field is reset
to zero at year-end. For assets with a CAPITAL COST ALLOWANCE TYPE of L (specified
leasing property), this amount is used in the calculation of capital cost allowance.
For other types of assets, it is informational only.
- PRINCIPAL
PD LTD
The repayment
of principal accrued on the asset life-to-date as of the last year- end is displayed.
For assets with a CAPITAL COST ALLOWANCE TYPE of L (specified leasing property),
this amount is used in the calculation of capital cost allowance. For other types
of assets, it is informational only.
- INTEREST
PAID YTD
For interest
bearing loans only: the interest paid year-to-date for the loan is displayed.
- INTEREST
PAID LTD
For interest bearing loans only: the interest paid life-to-date
for the loan is displayed.
Payment
Information: Payment Schedule
Field Descriptions
- SCHEDULE
The starting and ending
payment number for each payment schedule line is displayed.
- NUMBER
The
number of payments for each payment schedule line is displayed.
- FREQUENCY
The
frequency/type of the payments (e.g., monthly, advance monthly, skip, quarterly)
for each payment schedule line is displayed.
- PAYMENT
AMOUNT
The payment amount
(excluding use tax) for each payment schedule line is displayed.
- FINAL
PAYMENT AMOUNT DUE
The
total final payment amount due is displayed for the lease base on Ext/Def
eligibility.
Payoff
Information
The
Payoff section of the report provides information needed to quote lease payoffs
or terminations. If the lease has already been paid off or terminated and has
been deleted off the Master Financial file, the Closed out Lease section is the
only section printed for the report.
Field Descriptions
If
the lease has already been paid off or terminated, and is still on the Master
Financial file, or if the lease has not paid off or terminated, the following
information is provided:
- BASE
PAYOFF
The base payoff
amount of the lease is displayed. The calculation of the base payoff amount is
dependent upon the payoff method, as entered on the selection screen. A wide range
of values for the base payoff may be obtained depending upon the payoff method
used to calculate the base payoff. Generally, the smallest base payoff amount
is calculated using the outstanding net investment method (INV).
If
the payoff amount cannot be calculated, UNABLE TO CALCULATE is displayed. Possible
reasons why a payoff amount cannot be calculated are:
- An
illegal date was encountered
- Location
(RLO) record missing
- Asset
(REQ) record missing
- State
(RST) record missing
- Base
Rate (RPR) record missing
- PAYMENTS
OUTS
The accounts receivable
due up to and including the EFFECTIVE DATE less any payments or credits paid after
the EFFECTIVE DATE is displayed. Principal receivable for simple interest floating
rate (LT) leases is also included in this figure. This value may be negative if
the lessee has made payments past the EFFECTIVE DATE. These payments must be reversed
if the payoff or termination is actually performed (through the Payoff update
[U0103]).
- ASSESSMENTS
OUTS
The total of all
assessments due (e.g., use tax, late charges, collection fees, property taxes,
recurring charges, etc.), regardless of the EFFECTIVE DATE, are displayed. However,
use tax and recurring charges for payments due after the EFFECTIVE DATE are not
included.
- ADDL
INTEREST
The calculated
additional interest due based on the payoff method is displayed.
- FEES/PENALTIES
The
fees or penalties due for the payoff or termination as specified in the lease
form code are displayed.
- SALES
TAX
The sales tax calculated,
if specified as collectible in the lease form code, is displayed. The sales tax
amount is calculated on the BASE PAYOFF AMOUNT.
- ITC
RECAPTURE
The ITC recapture
due, as specified in the lease form code, is displayed. The fee charged to the
lessee equals the total amount of ITC to be recaptured.
- GOOD
UNTIL
The date to which
the payoff quote is valid is displayed. The GOOD UNTIL date is normally the date
of the next accrual at which time the payoff quote may change. The GOOD UNTIL
date may be in the past for suspended leases. For interest bearing loans, the
GOOD UNTIL date is the effective date of the quote.
- MATURITY
DATE
The due date of
the fixed price purchase option (the maturity date of the lease) is displayed.
- P/O CALC
METHOD
The payoff calculation method for the lease is displayed. Refer
to the Calculations document for detailed information on payoff
calculation methods.
- FUTURE
PMTS RECD
YES is displayed
if future payments (past the accrued to date) are assumed to be received on the
payment due date. NO is displayed if no future payments are assumed to be received.
- PURCHASE
OPT METH
The purchase
option method (e.g., percentage, calculated, fixed, etc.) is displayed.
- NOTE
A
note associated with the payoff calculation is displayed, if applicable. This
note indicates whether or the lease forms record (RCA)
is found. It is set to N/A if it is found. Otherwise, it displays a message indicating
that it is not found.
- GROSS
REC BALANCE
The gross
receivable balance, as defined through the Calculations Customizations option
of the Portfolio update [U0212] is displayed.
- NET
OUTS BALANCE
The net
outstanding balance, as defined through the Calculations Customizations option
of the Portfolio update [U0212] is displayed.
- GROSS
OUT BALANCE
The gross
outstanding balance, as defined through the Calculations Customizations option
of the Portfolio update [U0212] is displayed.
- FIXED
PRICE PURCH
The fixed
price purchase amount is displayed.
- NUMBER
OF BUYOUT QUOTES
The
number of buyout quotes on a lease is displayed.
- CLOSE
TYPE
The type of the
transaction (PAYOFF or TERMINATION) is displayed if the lease has already been
paid off or terminated.
- EFF
DATE OF CLOSE
The effective
date of the payoff or termination is displayed if the lease has already been paid
off or terminated.
- ACT
DATE OF CLOSE
The actual
processing date and time of the payoff or termination is displayed if the lease
has already been paid off or terminated.
- CLOSE
METHOD
The method of
the base payoff calculation (e.g., net investment, net present value of remaining
payments) is displayed if the lease has already been paid off or terminated. This
information is entered through the Payoff update [U0103].
- PAYOFF SOURCE
The
source of the payoff funds is displayed if the lease has already been paid off
or terminated. This information is entered through the Payoff update [U0103].
- TRANSACTION
CODE
The long form of
the type of payoff or termination transaction is displayed if the lease has already
been paid off or terminated. The transaction code also indicates if the payoff
or termination was early or at lease maturity.
- PAYOFF
TAX AMT
The portion
of the lease/asset payoff amount, or the asset sale/price on which sales/use tax
was calculated is displayed. This amount could represent the total base payoff
amount, the residual, the fair market value (FMV), or an amount entered by the
user at the time of the payoff or sale.
- PAYOFF
AMT DUE
The total calculated
payoff or termination amount due is displayed if the lease has already been paid
off or terminated.
- PROCEEDS
OF SALE
The total amount
received for the payoff or termination is displayed if the lease has already been
paid off or terminated.
- GAIN/LOSS
The recorded gain or loss
on termination is displayed if the lease has already been paid off or terminated.
- ALLOWANC
BAD DEBT
The recorded
reduction against bad debt for any payoff or termination shortage is displayed
if the lease has already been paid off or terminated.
Participation
Information
The
Participation Information section of the report provides accrual information when
the vendor and/or investor participates in the lease.
Field Descriptions
- VENDOR
The vendor number is displayed.
- VENDOR
YIELD
The calculated
internal rate of return for the vendor is displayed. This field is not applicable
if the vendor is participating in a percentage of the lease payment.
- VENDOR SIMPLE RAT
The
simple interest rate for the vendor is displayed. This is applicable for simple
interest rate leases only.
- VENDOR
PART RATE
The participation
rate of the vendor, if participating in a percentage of the lease payment, is
displayed. This field is not applicable if the vendor is participating in the
income earnings of the lease.
- VENDOR
RECEIVABLE
The unaccrued
portion of the payments due to the vendor (if the vendor participates in a percentage
of the payment) is displayed. This field is not applicable if the vendor participates
in a portion of the income earnings of the lease.
- VEN
PMT REC MTD
The current
month payment receivable for the vendor is displayed. This field is not applicable
if the vendor participates in a portion of the income earnings of the lease.
- VENDOR ACCR METH
The
method of rental income recognition for the vendor is displayed. The accrual method
also shows if payments are due in advance (i.e., accrual method starts with an
A) or arrears (i.e., accrual method starts with an R) for the lease. This field
is not applicable if the vendor is participating in a percentage of the lease
payment.
- VENDOR
ORG U/E
The total rental
income to be earned by the vendor over the life of the lease is displayed. This
field is not applicable if the vendor is participating in a percentage of the
lease payment.
- VENDOR
REMAIN U/E
The remaining
rental income to be earned by the vendor is displayed. This field is not applicable
if the vendor is participating in a percentage of the lease payment.
- VEN PMT PART UE
The
remaining unpaid (by the lessee) portion of the payments due to the vendor is
displayed. This field is not applicable if the vendor participates in a portion
of the income earnings of the lease.
- VEN
SUSP INC ACCR
The vendor
income accrued while the lease is on suspension is displayed.
- VENDOR PART CODE
The
participation payment type for this vendor is displayed. Vendors may participate
in the payments or income of leases as long as their PARTICIPATION CODE is not
zero. Valid participation codes are:
- 0
(zero) This vendor may not participate in the income of any leases.
- 1 Participation
is paid monthly to the vendor on leases in which the vendor is participating.
- 2 Participation
is paid quarterly to the vendor on leases in which the vendor is participating.
Quarterly payments are made in March, June, September, and December.
- VENDOR
INCOME MTD
The earned
vendor income for the most recently accrued month is displayed. The date shown
on the ACCRUED TO DATE field, found in the Accrual section of the Lease Inquiry
[R0905], is the end of the most recently accrued month. This field is not applicable
if the vendor is participating in a percentage of the lease payment.
- VENDOR INCOME PTD
The vendor’s portion of
the rental income earned period-to-date and pending disbursement is displayed.
Disbursement of vendor earned rental income is based on participation payment
frequency (monthly or quarterly). This field is not applicable if the vendor is
participating in a percentage of the lease payment.
- VENDOR
INCOME YTD
The year-to-date
rental income accrued for the vendor is displayed.
- INVESTOR
The investor number is displayed.
- INVESTOR
YIELD
The calculated
internal rate of return for the investor is displayed.
- INVST
SIMPLE RAT
The simple
interest rate for the investor is displayed. This is applicable for simple interest
rate leases only.
- INVST
FACTOR
The investor’s
portion of the contract rate is displayed. This information is applicable for
precomputed interest leases only.
- INVEST
ACCR METH
The method
of rental income recognition for the investor is displayed. The accrual method
also shows if payments are due in advance (i.e., accrual method starts with an
A) or arrears (i.e., accrual method starts with an R) for the lease.
- INVEST ORG U/E
The
original amount of income to be earned by the investor is displayed.
- INVEST REMAIN U/E
The
remaining rental income to be earned by the investor is displayed.
- INV SUSP INC ACCR
The
investor income accrued while the lease is on suspension is displayed.
- INVEST INCOME MTD
The
earned investor income for the most recently accrued month is displayed. The date
shown on the ACCRUED TO DATE field, found in the ‘Accrual’ sub- section of the
Lease Inquiry [R0905], is the end of the most recently accrued month.
- INVEST INCOME PTD
The
investor’s portion of the rental income earned period-to-date and pending disbursement
is displayed.
- INVEST
INCOME YTD
The year-to-date rental income accrued for the investor is
displayed.
User
Defined Fields/Tables
If
the User Defined Fields module is purchased, and user defined fields and/ or table
columns for the lease are defined through the User Defined Fields/ Table option
of the Portfolio update [U0212], the Lease Inquiry report [R0905] additionally
provides the following information at the lease level:
Field
Descriptions
- LEASE
USER DEFINED FIELDS
The
field names, as defined for the lease in the USER DEFINED FIELDS/ TABLE option
of the Portfolio update [U0212], and the values entered in these fields are displayed.
A blank is displayed next to the field name if no information has been entered
in that field. If no information has been entered in any user defined field for
the selected lease, a message is displayed indicating that no user defined field
information is available.
- LEASE
USER DEFINED TABLE
The
table column headings, as defined for the lease in the USER DEFINED FIELDS/TABLE
option of the Portfolio update [U0212], and the values entered in these columns
are displayed. Only rows that have information are displayed. Rows in which all
elements are blank are not displayed. If no information
has been entered in any user defined table column for the selected lease, a message
is displayed indicating that no user defined table information is available.
- LESSEE USER DEFINED FIELDS
The field names, as defined
for the lessee in the USER DEFINED FIELDS/ TABLE option of the Portfolio update
[U0212], and the values entered in these fields are displayed. A blank is displayed
next to the field name if no information has been entered in that field. If no
information has been entered in any user defined field for the selected lease,
a message is displayed indicating that no user defined field information is available.
- LESSEE
USER DEFINED TABLE
The
table column headings, as defined for the lessee in the USER DEFINED FIELDS/TABLE
option of the Portfolio update [U0212], and the values entered in these columns
are displayed. Only rows that have information are displayed. Rows in which all
elements are blank are not displayed. If no information has been entered in any
user defined table column for the selected lease, a message is displayed indicating
that no user defined table information is available.
Asset Summary
The Asset Summary section of
the report provides asset information for the lease. It is also one of the two
sections available when running the report for an asset only. All assets, both
active and inactive, will be reported on.
Field Descriptions
- LEASE DESCRIPTION
The
description of the lease is displayed.
- ASSET
The asset number is displayed.
- DESCRIPTION
The description of the asset
is listed.
- MANF
The code of the manufacturer
of the asset is listed.
- MODL
The code of the model type
of the asset is listed.
- YR
The last two digits of the
year of the asset are listed.
- CLASS
The classification of the
asset is listed.
- ACQUIS
COST
The acquisition
cost of the asset is listed.
- SUPPLIER
The number of the asset
supplier is displayed.
- SUPPLIER
NAME
The name of the
asset supplier is displayed.
- STAT
The status of the asset
is displayed.
- P.O
EFF
The paid off effective
date of the lease is displayed.
Asset Detail
The Asset Detail
section of the report provides more detail relating to asset(s) associated with
the lease. It is also one of two report sections available when reporting on an
asset only. All assets, both active and inactive, will be reported on. If there
are multiple assets tied to the lease and the lease number is entered as the selection
criteria, each asset tied to the lease is reported in this section. If a specific
asset number is entered as the selection criteria, only the information for the
selected asset is displayed.
Asset
Detail: General
Field Descriptions
- ASSET
The asset number is displayed.
- DESCRIPTION
The asset description is
displayed.
- ADDRESS
The street address where
the asset is located is displayed.
- CITY
The city in which the asset
is located is displayed. The city and state location of the asset determines the
use tax that is calculated on the rental payment of the asset.
- STATE
The
state in which the asset is located is displayed. The city and state location
of the asset determines the use tax that is calculated on the payment rental of
the asset.
- ZIP
The zip code of the asset
location is displayed.
- COUNTY
The county name of the asset
is displayed. This field will only be displayed if the asset portfolio has sales/use
tax assessment.
- CLASS
The short and long form
of the classification code of the asset are displayed.
- MANUFACTURER
The manufacturer of the
asset (e.g., DEC, Kodak, Ford) is displayed.
- MODEL
CODE
The model code
of the asset (e.g., 8600, C200, Mustang) is displayed.
- MODEL
YEAR
The model year
of the asset is displayed.
- IDENTIFICATION
The serial (identification)
number of the asset is displayed.
- PURCHASE
ORDER
The purchase order
number for the asset is displayed.
- CHECK
REFERENCE
The reference
to be printed on the check disbursing the accounts payable for this asset is displayed.
- SUPPLIER
If the supplier of the asset
is established as a vendor on the system, the vendor number is displayed. Otherwise,
this field is blank.
- SUPPLIER
NAME
The name of the
supplier of the asset is displayed.
- ADDRESS
1
The first address
line of the supplier is displayed.
- ADDRESS
2
The second address
line of the supplier is displayed.
- CITY
The city of the supplier
is displayed.
- STATE
The state of the supplier
is displayed.
- ZIP
The zip or postal code of
the supplier is displayed.
- ACQUISITION
DATE
The acquisition
date of the asset is displayed.
Note:
The Property Tax Assessor [R0305] report will only report those assets that have
acquisition date on or before the lien date.
- P.O. DATE
The purchase order date
is displayed.
- IN-SERVICE DATE
The date the asset was
placed in service is displayed. This date is the starting date for depreciation.
- SYSTEM BOOK DATE
The date the asset was
added to the system (through the Add Asset option of the New Lease update
[U0101]) is displayed.
- ACTIV STATUS DATE
The date of the last
activity status change of the asset is displayed. The asset’s activity status
may change through such updates as the New Lease update [U0101], the Payoff
update [U0113], the Asset Add-on update [U0113], etc.
- ACTIVITY STATUS
The system-defined status
of the asset (e.g., new on-lease, off-lease inventory, etc.) is displayed.
- STATUS BEFORE BKG
The system-defined status
of the asset prior to lease booking (if applicable) is displayed.
- STATUS AT P/O
The system-defined status
of the asset at the time of the payoff is displayed.
- RESRVD APPLIC #
If the asset is reserved
by an existing lease, the number of the lease is displayed.
- ORG ACQUIS COST
The original acquisition
cost of the asset (before tax, charges and fees) is displayed. This amount
is included in the depreciation basis.
- OTHER CHARGES
The miscellaneous charges
associated with the asset are displayed. This amount is not included in the
depreciation basis.
- RESIDUAL
The estimated market
value of the asset at lease maturity is displayed.
- PAYMENT AMT
The asset monthly payment
amount is displayed. This is the payment amount used in the cash flow when
calculating the asset yield.
- REPAIR COST
The repair cost of the
asset is displayed. This field is informational only.
- RESIDUAL UNEARNED
The asset residual unearned
amount is displayed.
- PROPERTY TAX
Y is displayed if the
asset should appear on the Property Tax Assessor report [R0305]. Pending assets
will not appear on the report, regardless of this setting.
- NEW/USED
USED is displayed if
the asset was purchased used or if it came off-lease into inventory (e.g.,
through the Termination option of the Payoff update [U0103]).
- EQT STATUS
The user-specified status
of the asset (i.e., available, not available, in repair, etc.) is displayed.
- OFF-LEASE
YES is displayed if
the asset is off-lease (in inventory or sold). NO is displayed if the asset
is on-lease.
- % SCHEDULE
If the asset is on-lease,
the percentage the asset contributes to the whole lease is displayed. If
the asset is off-lease and is new in inventory, the percentage of schedule
will be zero. If the asset is off-lease but was previously linked to a lease
(i.e. terminated or paid-off asset), the percentage of schedule at the time
of disposition will be displayed.
- ASSET YIELD
The yield calculated
for the asset is displayed. Asset yields are calculated if the CALCULATE ASSET
YIELD parameter (on the first screen of the New Lease Customizations option
of the Portfolio update [U0212]) is ‘Y’.
- UPFRONT SALES TAX
Y is displayed if upfront
sales tax is due/was charged for this asset.
- ST
If UPFRONT SALES TAX is Y, the state to which the upfront sales tax
is/was paid is displayed.
- ST RATE
If UPFRONT SALES TAX is Y, the state rate at which the upfront sales
tax is/ was paid is displayed.
- CT
If UPFRONT SALES TAX is Y, the county to which the upfront sales tax
is/ was paid is displayed.
- CT RATE
If UPFRONT SALES TAX is Y, the county rate at which the upfront sales
tax is/was paid is displayed.
- CY
If UPFRONT SALES TAX is Y, the city to which the upfront sales tax
is/was paid is displayed.
- CY RATE
If UPFRONT SALES TAX is Y, the city rate at which the upfront sales
tax is/ was paid is displayed.
- BASE TAX AMT
If UPFRONT SALES TAX
is Y, the amount upon which the upfront sales tax is based is displayed.
- SALES TAX
The upfront sales tax
amount is displayed.
- STARTING COST
The starting cost for
this asset is displayed. This value is the value that the asset will use/was
used when the asset is/was placed on lease.
- INVENTORY VALUE
The current value of
an off-lease asset in inventory or the inventory value that the on-lease asset
had when it was placed on lease is displayed.
- ACCOUNTS PAYABLE
The remaining undisbursed
accounts payable for the asset is displayed. The asset may not be sold if
there is a remaining amount of accounts payable.
- GST PAYABLE
The Goods and Services
Tax for the asset is displayed. This field is for Canadian users only.
- RESID INCOME YTD
The year-to-date residual
income is displayed.
- RESID U/E ORG
The original unearned
residual is displayed.
- IDC YTD (BOOK)
The year-to-date initial
direct costs (book) is displayed.
- IDC YTD (TAX)
The year-to-date initial
direct costs (tax) is displayed.
- ASSET FIRST LOAN
The first loan for this
asset is displayed.
- ASSET LAST LOAN
The last loan for this
asset is displayed.
- OPER/DRIVER NAME
The name of the person
operating the vehicle/equipment is displayed.
- NOTES PAYABLE
The notes payable key
(if any) attached to the asset is displayed.
- ASSET ADD-ON DATE
The date this asset
was added onto an existing lease is displayed.
- LAST LIEN DATE
The last lien date of
property tax assessment for this asset is displayed.
- ASSOC ASSET
A separate asset, associated
with this asset number, is displayed. This information is typically used to
link two or more assets together.
- STOCK NUMBER
The stock number of
the vehicle is displayed. This field is informational only.
- ASSET PRE-INVEN
The switch indicating
if the asset is pre-inventory or not is displayed.
- ASSET P/O DONE
The switch indicating
if an asset payoff was done is displayed.
- ALLOW TERMIN REV
The switch indicating
if termination reversal is allowed is displayed.
- TAX BENEFIT CODE
The asset tax benefit
owner code is displayed.
- NET RECEIPTS YTD
The net receipts year-to-date
for the asset is displayed.
- NET RECEIPTS LTD
The net receipts life-to-date
for the asset is displayed.
- OTHER INCOME YTD
The other year-to-date
income for the asset is displayed.
- OTHER INCOME LTD
The other life-to-date
income for the asset is displayed.
- PMT ACCR YTD
The payment amount accrued
year-to-date for the asset is displayed.
- INCOME ACCR YTD
The lessor income accrued
year-to-date for the asset is displayed.
- LOSS ON TERM YTD
The year-to-date loss
on termination for the asset is displayed.
- GAIN ON TERM YTD
The year-to-date gain
on termination for the asset is displayed.
- NBV AT TERMIN
The net book value of
the asset at termination is displayed.
- FED BV AT PAYOFF
The Federal book value
of the asset at payoff is displayed.
- ST BV AT PAYOFF
The State book value
of the asset at payoff is displayed.
- FED AMT BV AT P/O
The Federal amount of the book value of the asset at payoff is displayed.
Asset
Detail: Use Tax
Field
Descriptions
- USE
TAX CODE
The use tax
payment method for the asset indicates which taxing entities are in effect for
the asset, based upon the city and state/province address of the asset (e.g.,
state and county taxes, none exempt, etc.).
- STATE
The state/province in which
the asset is located (for use tax calculation purposes) is displayed. The city
and state/province of the asset address determines the use tax that is calculated
on the rental payment of the asset.
- COUNTY
The county in which the
asset is located (for use tax calculation purposes) is displayed.
- CITY
The
city in which the asset is located (for use tax calculation purposes) is displayed.
The city and state of the asset location determines the use tax that is calculated
on the rental payment of the asset.
- CURRENT
TAX RATES
The current
use tax rates, as stored on the Location file (or on the Asset file if the USE
TAX CODE is PERM) for the state, county, and city are displayed.
- PERMANENT TAX RATES
The
permanent state, county, and city tax rates to be used for the asset, if applicable,
are displayed. These rates supersede the CURRENT TAX RATES.
Asset
Detail: FHUT Information
Field
Descriptions
- FHUT
CATEGORY
The Federal
Highway Use Tax (FHUT) category is displayed. The FHUT code is required only for
certain heavy motor vehicles, including trucks, truck tractors, and buses. The
tax only applies to highway vehicles with a taxable gross weight of 55,000 pounds
or more. Refer to the Internal Revenue Service publication 349 for more information
on Federal Highway Use Tax.
- FIRST
USE DATE
The date of
first use of the asset, used in conjunction with trucks and the Federal Highway
Use Tax category, is displayed.
- INSPECTION
DATE
The date on which
the asset should be inspected is displayed. This date is informational only.
- WEIGHT
The
taxable gross weight of the asset in pounds, used in conjunction with trucks and
the Federal Highway Use Tax category, is displayed.
Asset
Detail: Title Filing
Field
Descriptions
- TITLE
FILING - TYPE
The type
of the title document (e.g., Ownership Certificate, UCC, Security Interest, etc.)
is displayed.
- TITLE
FILING - STATUS
The
status of the title document is displayed.
- TITLE
FILING - PLACE
The place
of filing (state and/or county or city) is displayed.
- TITLE
FILING - DATE
The filing
date is displayed.
- TITLE
FILING - TERM
The filing
term, in months, is displayed.
- TITLE
FILING - FILE NUMBER
The
filing number is displayed.
Asset
Detail: Depreciation
Field Descriptions
- TAX RPTG
YES is displayed if
the asset will appear on the tax reports listed below.
Note: If YES
is displayed here and the TAX TYPE is a true lease, the asset appears on
the Tax Timing Differences report [R0311] regardless of whether the Contract
Type code is set to CSA or INSL when the asset is booked on a lease.
- TAX RATE
The corporate tax rate
at the time the asset was booked onto the lease is displayed.
- TAX TYPE
The TAX TYPE code for
the asset is displayed. This code indicates the type of tax reporting for
the asset. If the TAX RPTG switch displays NO, this field is informational
only. TAX TYPE codes are:
- SALE CSA tax
type reporting
- TLA True lease
tax reporting (accrual basis)
- TLC True lease
tax reporting (cash basis)
- MANF DEPR BASIS
The basis for the manufacturer’s
depreciation is displayed.
- ORG ASSET COST
The original asset cost
is displayed. This amount is used for the calculation of gross profit.
- GROSS PROFIT TYPE
‘RELATED’ is displayed
if the asset was sold to a related third party. ‘UNRELATED’ is displayed if
the asset was sold to an unrelated third party.
- FED DEPR BASIS
The basis for federal
and alternative minimum tax depreciation is displayed.
- STATE SALVAGE VAL
The amount that this
asset may be depreciated down to for state depreciation purposes is displayed.
- BOOK ACCTG METHOD
The depreciation accounting
method for book purposes is displayed. The book accounting method may be changed
in the Change Depreciation option [CD] of the Change Asset update [U0120].
Book accounting methods are:
- FINANCE
This method is for assets booked on a lease other than an operating lease.
Monthly book depreciation is recorded at the asset level, but no General
Ledger updating is performed.
- OPERATING
This method is used for assets booked on an operating lease. Monthly book
depreciation is recorded at the asset level. In the General Ledger, the
inventoried value of the asset is decreased and depreciation expense is
increased by the depreciation amount.
- FEDERAL DEPR
The type of federal
depreciation for tax purposes used for the asset (e.g., ACRS, ADR, etc.) is
displayed.
- FED DEPR MTD
The dollar amount of
federal depreciation calculated for the month is displayed.
- FED DEPR YTD
The dollar amount of
federal depreciation year-to-date is displayed.
- FED DEPR LTD
The dollar amount of
federal depreciation life-to-date is displayed.
- FED DEPR PREV YTD
The dollar amount of the previous federal depreciation year-to-date
is displayed.
Note: This field will not display previous YTD information until the first
End of Year process is run. This field is new in release v5.0a.
- STATE DEPR
The type of state depreciation
for tax purposes used for the asset (e.g., ADR Straight Line, etc.) is displayed.
- ST DEPR MTD
The dollar amount of
state depreciation calculated for the month is displayed.
- ST DEPR YTD
The dollar amount of
state depreciation year-to-date is displayed.
- ST DEPR LTD
The dollar amount of
state depreciation life-to-date is displayed.
- ST DEPR PREV YTD
The dollar amount of the previous state depreciation year-to-date
is displayed.
Note:
This field will not display previous YTD information until the first End of
Year process is run. This field is new in release v5.0a.
- ALT MIN TAX DEPR
The Alternative Minimum
Tax method used for the asset is displayed.
- ALT MIN DEPR YTD
The amount of the Alternative
Minimum Tax year-to-date is displayed.
- ALT MIN DEPR LTD
The amount of the Alternative
Minimum Tax life-to-date is displayed.
- AMT DEPR PREV YTD
The dollar amount of the previous federal AMT depreciation year-to-date
is displayed.
Note:
This field will not display previous YTD information until the first End of
Year process is run. This field is new in release v5.0a.
- BOOK DEPR START
The date from which
book depreciation for the asset is calculated is displayed. This date may
be changed in the Change Depreciation option of the Change Asset update [U0120].
- BOOK DEPR BASIS
The book depreciation
basis of the asset is displayed.
- BOOK SALVAGE
The amount that this
asset may be depreciated down to for book purposes is displayed.
- ITC CODE
The Investment Tax Credit
(ITC) method for tax purposes (e.g., Bypass, Full ITC 2% Year, etc.) is displayed.
- ITC (TAX) MTD
The dollar amount of
Investment Tax Credit taken for the month for tax purposes is displayed.
- ITC (TAX) YTD
The dollar amount of
Investment Tax Credit taken year-to-date for tax purposes is displayed.
- ITC (TAX) LTD
The dollar amount of
Investment Tax Credit taken life-to-date for tax purposes is displayed.
- ITC BASIS
The acquisition cost
of the asset is displayed. This is the value on which the amount of ITC to
take is determined.
- ORIGINAL ITC
The original Investment
Tax Credit dollar amount for the asset is displayed.
- ITC SUSTAINED
The amount of ITC sustained
is displayed. This information is reported on the Investment Tax Credit Detail
report [R0302].
- ITC BOOK ACCRUAL
The method of ITC income
recognition for book purposes is displayed.
- ITC ORG U/E
The original amount
of Investment Tax Credit income to be earned for book purposes is displayed.
- ITC REMAIN U/E
The amount of current
Investment Tax Credit income not yet earned for book purposes is displayed.
- ITC INCOME MTD
The Investment Tax Credit
book income earned for the most recently accrued month is displayed. The date
shown for ITC ACCRUED TO is the end of the most recently accrued month.
- ITC INCOME YTD
The year-to-date ITC
income accrued is displayed.
- ITC ACCRUED TO
The date to which ITC
income has been accrued for the asset is displayed.
- DIMINISHING RATE
The diminishing rate for DVA1/DVA2
federal or book depreciations is displayed.
Asset
Detail: Capital Cost Allowance
Field
Descriptions
- CAPITAL COST ALLOWANCE - CAPITAL
COST
The initial amount that
may be depreciated on the asset is displayed.
- CAPITAL COST ALLOWANCE - ITC
AMOUNT
The Investment Tax Credit
amount that may be claimed for the asset is displayed.
- CAPITAL COST ALLOWANCE - TAX
ENTITY
The tax entity who will
claim the CCA on the asset is displayed.
- CAPITAL COST ALLOWANCE - CLASS
The CCA class defined
for the asset.
- CAPITAL COST ALLOWANCE - TYPE
The type of the asset
is displayed. Valid types
are:
- L Specified
leasing property
- O Individual
asset which is not a specified leasing property but is placed in a separate
class.
- P Pooled asset
- CAPITAL COST ALLOWANCE - ACCRUAL
METHOD
The CCA calculation
method is displayed.
- DBL Declining
balance
- DBLH Declining
balance with half-year convention
- SL02 Straight
line 2 years
- SH02 Straight
line 2 years with half-year convention
- BYPS Bypass
CCA calculation
- CAPITAL COST ALLOWANCE - DISPOSITION
METHOD
The CCA disposition
method defined for the asset is displayed.
- GEN General
method
- NONE No terminal
loss or recapture is allowed
- CAPITAL COST ALLOWANCE - ADD-ON
RATE
The add-on rate added
on to the base rate defined in the CCA
Class update [U0703] in calculating capital cost allowance for the asset is
displayed.
- CAPITAL COST ALLOWANCE - %
SCHEDULE
If the asset is on-lease,
the percentage the asset contributes to the notional loan is displayed.
- CAPITAL COST ALLOWANCE - LAST
UPDATE DATE
The date the capital
cost allowance information was last changed is displayed.
- CAPITAL COST ALLOWANCE - ACCRUED
TO DATE
The date to which capital
cost allowance has been accrued for the asset is displayed.
- CAPITAL COST ALLOWANCE - ADJUSTMENT
LTD
The cumulative adjustment
amount made on the asset life to date is displayed.
- CAPITAL COST ALLOWANCE - ORDINARY
CCA LTD
The CCA would have been,
had the asset been the only asset in the class and fully depreciated at all
time, is displayed.
- CAPITAL COST ALLOWANCE - PRINCIPAL
LTD
The repayment of principal
accrued on the asset life to date is displayed.
- CAPITAL COST ALLOWANCE - PRINCIPAL
YTD
The year-to-date principal
accrued on current lease is displayed.
- CAPITAL COST ALLOWANCE - LAST
UPDATE TIME
The time the capital
cost allowance information was last changed is displayed.
- CAPITAL COST ALLOWANCE - UNDEPRE
CAP COST
The undepreciated capital
cost of the asset is displayed. For a pooled asset, this field reflects the
undepreciated capital cost would have been, had the asset been the only asset
in the class and fully depreciated at all time.
- CAPITAL COST ALLOWANCE - CCA
TAKEN LTD
The capital cost allowance
that has actually been claimed on the asset is displayed. This field does
not apply to assets placed in pools.
- CAPITAL COST ALLOWANCE - NOTIONAL
PRN TAKEN
The capital cost allowance
claimed on the asset since it is on the current lease is displayed.
- CAPITAL COST ALLOWANCE - PRORATED
ORD CCA
The prorated ordinary
capital cost allowance for the portion of the year prior to the lease for
the asset is displayed.
Asset
Detail: Payoff/Sale Information
Field
Descriptions
- PAYOFF/SALE
CODES
The payoff/sale
state, county, and city location codes are displayed.
- PAYOFF/SALE
RATES
The payoff/sale
state, county, and city rates are displayed.
- PAYOFF/TERM
METH
The payoff/sale
method is displayed.
- PF/SALE
TAX AMT
The payoff/sale
taxable amount is displayed.
Asset
Detail: Additional Information
Field Descriptions
- LIST
PRICE
The sticker price
of the vehicle is displayed. This field is informational only and is shown only
for assets with a vehicle classification (i.e., class code starts with a ‘V’).
- GAS COST
The gas cost of the asset
is displayed. This field is informational only and is shown only for assets with
a vehicle classification (i.e., class code starts with a ‘V’).
- LICENSE FEES
The
license fees for the vehicle are displayed. This field is informational only and
is shown only for assets with a vehicle classification (i.e., class code starts
with a ‘V’).
- WARRANTY
PREMIUM
The amount of
the warranty premium is displayed. This field is informational only and is shown
only for assets with a vehicle classification (i.e., class code starts with a
‘V’).
- RESIDUAL
INSUR
‘YES’ is displayed
if the asset has residual insurance. ‘NO’ is displayed if the asset does not have
residual insurance. This field is informational only and is shown only for assets
with a vehicle classification (i.e., class code starts with a ‘V’).
- WARRANTY INSUR
‘YES’
is displayed if the asset has warranty insurance. ‘NO’ is displayed if the asset
does not have warranty insurance. This field is informational only and is shown
only for assets with a vehicle classification (i.e., class code starts with a
‘V’).
- CERT
OF OWNERSHIP
The certificate
of ownership status is displayed. This field is informational only and is shown
only for assets with a vehicle classification (i.e., class code starts with a
‘V’).
- AVG
YR MILEAGE
The average
annual allowable mileage per the lease agreement is displayed. This field is shown
only for assets with a vehicle classification (i.e., class code starts with a
‘V’).
- ODOMETER
COMMENCE
The odometer
reading of the vehicle at lease commencement is displayed. This field is informational
only and is shown only for assets with a vehicle classification (i.e., class code
starts with a ‘V’).
- ODOMETER
TERM
The odometer reading
of the vehicle at lease termination is displayed. This field is informational
only and is shown only for assets with a vehicle classification (i.e., class code
starts with a ‘V’).
- LICENSE
The license/tag number of
the vehicle is displayed. Assets with a license/tag number are reported on the
License Number report [R0910]. This field is shown only for assets with a vehicle
classification (i.e., class code starts with a ‘V’).
Asset
Detail: Automobile Options
Field
Descriptions
- AUTO
OPTIONS - LEASE COMMENCEMENT
The possible vehicle
options and the corresponding ‘YES’ or ‘NO’ switches associated with each
option at lease commencement are listed. This information is shown only for
assets with a vehicle classification (i.e., class code starts with a ‘V’).
- AUTO OPTIONS
- CURRENT
The possible
vehicle options and the corresponding ‘YES’ or ‘NO’ switches currently associated
with each option are listed. This information is shown only for assets with a
vehicle classification (i.e., class code starts with a ‘V’).
Asset
Detail: Condition Report
Field
Descriptions
- CONDITION
REPORT
The report on
the condition of the vehicle is displayed. This field is shown only for assets
with a vehicle classification (i.e., class code starts with a ‘V’).
Asset
Detail: User Defined Fields/Tables
Field
Descriptions
- USER DEFINED FIELDS
The user defined field
information for the asset is displayed, if defined for the portfolio of the
asset. User Defined Fields/Tables is a separately purchased module of LeasePak.
- USER DEFINED TABLES
The user defined table
information for the asset is displayed, if defined for the portfolio of the
asset. User Defined Fields/Tables is a separately purchased module of LeasePak.
Notebook Report
The Notebook Report section lists
all existing notes for a lease. It may be used to review all comments, actions,
problems, and concerns for an lease. See Notebook
Report [R0922] for more information regarding the Notebook report.
Field Descriptions
- DATE ENTERED
The date the note was
created is displayed in MM/DD/YY or DD/MM/YY format, depending on the Date
Format Preference field in Security [U0706].
- DATE
FOLW-UP
The follow-up date is
displayed in MM/DD/YY or DD/MM/YY format, depending on the Date
Format Preference field in Security [U0706].
- PC
Y is displayed if action
has already been taken on the note.
- TYPE
The source of the note
(e.g., leases) is displayed.
- FRM
The initials of the
note creator are displayed.
- TO
The initials of the
person assigned to follow-up on the note are displayed.
- PR
The priority of the
note is displayed.
- COMMENTS
The note title and comments
are displayed.
Automatic Lease Extension
The Automatic Lease Extension
Information section provides lease extension information, if it has been entered,
for a lease upon its maturity. The lease will be automatically extended in End
of Period once the lease has reached status NMAT.
Field Descriptions
- COMMENCEMENT DATE
The commencement date
of the automatic lease extension record is displayed. The COMMENCEMENT DATE
to the MATURITY DATE is equal to the LEASE TERM. The lease extension must
commence on the lease’s payment due day.
- MATURITY DATE
The date the lease extension
is scheduled to mature is displayed. The MATURITY DATE is calculated using
the COMMENCEMENT DATE and the LEASE TERM.
- SYSTEM BOOKING
The date and time the
automatic lease extension was booked on the system are displayed.
- EXTENDED COST
The new starting cost
is the net investment in the lease (at lease maturity, the net investment
is the residual) is displayed. For
operating leases, the new starting cost is the current book value.
- TERM
The extended term for
the lease is displayed.
- RESIDUAL AMT
The new residual (less
than or equal to the original residual) is displayed.
- FIXED RATE
The interest rate for
a simple interest fixed rate lease is displayed.
- PAYMENT SCHEDULE - SCHEDULED
PAYMENTS
The starting and ending
payment number for each payment schedule line are displayed.
- PAYMENT SCHEDULE - NUMBER
The number of payments
for each payment schedule line is displayed.
- PAYMENT SCHEDULE - FREQUENCY
The frequency/type of
the payments (e.g., monthly, advance monthly, skip, quarterly) for each payment
schedule line is displayed.
- PAYMENT SCHEDULE - AMOUNT
The payment amount (excluding
use tax) for each payment schedule line is displayed.
- RECURRING CHARGES - NAME
The name of each recurring
charge is displayed.
- RECURRING CHARGES - TYPE (I/P/T)
The type (I/P/T) of
the recurring charge is displayed.
- RECURRING CHARGES - START
DATE
The starting date for
each recurring charge assessment is displayed. The recurring charge is invoiced
with every lease payment due on or after this date up through the END DATE
shown in the next field (not the lease maturity date).
- RECURRING CHARGES - END DATE
The ending date for
each recurring charge assessment is displayed. The recurring charge is included
with every lease payment due from the START DATE through this date.
- RECURRING CHARGES - AMOUNT
The recurring charge
amount to be assessed with each payment is displayed. If the recurring charge
type is ‘T’ (special tax method), the amount of the recurring charge is the
amount entered here plus the calculated use tax on the payment.
Thus, the amount shown may be zero. This special method bypasses the normal
use tax accounting and uses the recurring charge payable accounting instead.
The recurring charge type is specified in the Portfolio update [U0212AS].
If the START DATE is equal to the lease commencement date, and there are multiple
advance payments, one charge is assessed for each advanced payment.
- RECURRING CHARGES - PAYABLE
TO BROKER
The number of the broker
to whom each charge is to be paid is displayed. This field is used only if
the recurring charge type is ‘P’ (payable) or ‘T’ (special tax method).
- RECURRING CHARGES - PAYABLE
TO VENDOR
The number of the vendor
to whom the charge is to be paid is displayed. This field is used only if
the recurring charge type is ‘P’ (payable) or ‘T’ (special tax method).
Closed Out Lease
When running the Lease Inquiry,
the Closed Out Lease report is automatically produced if the lease is terminated
or paid off and the detail information for the lease has been removed from the
main data files. (The period of time to wait before the detailed information is
removed is determined by the NUMBER OF DAYS TO WAIT BEFORE CLEANING UP LEASE RECORDS
parameter on the third screen of the Miscellaneous Customizations option of the
Portfolio update [U0212].)
Information
for assets in inventory may be obtained by entering the asset number instead of
the lease number when making the report selection. Assets are placed in inventory
through the Termination option of the Payoff update [U0103].
Historical
lease information is never automatically removed from the data files. The following
information is the historical information which is retained for paid off or terminated
leases.
Closed
Out Lease Report
Field
Descriptions
- PORTFOLIO
- COMPANY
- REGION
- OFFICE
- LESSEE
The lessee number and name
are displayed.
- VENDOR
The vendor number and name
are displayed.
- ASSET
ACQUIS DATE
- CONTRACT
DATE
The date of the
lease, as entered through the Book Lease option of the New Lease update [U0101],
is displayed. Generally, the lease date is the date on which the lease documents
were signed by the lessee.
- MATURITY
DATE
- EFF
DATE OF CLOSE
The effective
date of the payoff or termination is displayed.
- ACT
DATE OF CLOSE
The actual
processing date and time of the payoff or termination is displayed.
- CLOSE TYPE
The
type of the transaction (PAYOFF or TERMINATION) is displayed.
- CLOSE
METHOD
The method of
the base payoff calculation (e.g., net investment, net present value of remaining
payments) is displayed. This information is entered through the Payoff update
[U0103].
- ASSET
ACT STATUS
The date
of the last asset activity status change is displayed. Since the last asset activity
status change for this lease is the payoff or termination, this date represents
the payoff/termination process date.
- LEASE
DESCRIPTION
The description
of the lease is displayed.
- NEW/USED
USED is displayed if the
asset was purchased used or if it came off-lease into inventory (e.g., through
the Termination option of the Payoff update [U0103]).
- OPERATOR
The initials of the operator
who processed the payoff or termination are displayed.
- CONTRACT
TERM
The term of the
lease in months is displayed. The term is the number of months between the commencement
date and the maturity date of the lease.
- #
PMTS ACCRUED
The number
of payments accrued up through the effective date of the payoff or termination
is displayed.
- #
TIMES DELNQ 30
The number
of times the lease was one to 30 days delinquent is displayed. These counters
increment during End of Day Sequential Updates [U0411] in the Late Charges Calculation
and Assessment module, providing the lease has delinquent, unpaid invoices. The
counters will not be updated if this module is not run at End of Day or if the
Late Charge Method for the lease is NONE. The ending day is a customized value.
Refer to the DELINQUENCY
CATEGORY BOUNDARIES parameters on the third screen of the Miscellaneous Customizations
option of the Portfolio update [U0212].
- #
TIMES DELNQ 60
The number
of times the lease was 31 to 60 days delinquent is displayed.
- #
TIMES DELNQ 90
The number
of times the lease was 61 to 90 days delinquent is displayed.
- #
TIMES DELNQ 91+
The
number of times the lease was 91 or more days delinquent is displayed.
- LEASE ACT STATUS
The lease activity status
before the payoff or termination is displayed.
- LEASE
RATING
The rating of
the lessee at payoff or termination is displayed. This information is entered
through the Payoff update [U0103].
- PAYOFF
SOURCE
The source of
the payoff funds is displayed. This information is entered through the Payoff
update [U0103].
- TRANSACTION
CODE
The short and long
form of the type of payoff or termination transaction is displayed. The transaction
code also indicates if the payoff or termination was early or at lease maturity.
- MANUFACTURER
The manufacturer of the
asset (e.g., Ford, Chrysler) is displayed.
- MODEL
The model of the asset (e.g.,
Mustang, Le Baron) is displayed.
- YEAR
The model year of the asset
is displayed.
- ACQUIS
COST
The invoice price
of the asset(s) tied to the lease (before tax, charges or fees) is displayed.
If multiple assets are tied to the lease, the sum of the original acquisition
costs of all assets for the lease is displayed. The ORIGINAL ACQUISITION COST
is the starting basis for depreciation.
- RESIDUAL
AMT
The total residual
(guaranteed + unguaranteed) of the asset(s) tied to the lease is displayed. If
multiple assets are tied to the lease, the sum of the residual values of all assets
for the lease is displayed.
- PAYOFF
TAX AMT
The portion
of the lease/asset payoff amount, or the asset sale/price on which sales/use tax
was calculated is displayed. This amount could represent the total base payoff
amount, the residual, the fair market value (FMV), or an amount entered by the
user at the time of the payoff or sale.
- PAYOFF
AMT DUE
The total calculated
payoff or termination amount due is displayed.
- PROCEEDS
OF SALE
The total amount
received for the payoff or termination is displayed.
- GAIN/LOSS
The recorded gain or loss
on termination is displayed.
- ALLOWANC
BAD DEBT
The recorded
reduction against bad debt for any payoff or termination shortage is displayed.
- NET RECEIPTS
YTD
The total dollar
amount of the lease payments received year-to-date is displayed. Use tax is not
included in this value.
- NET
RECEIPTS LTD
The total
dollar amount of the lease payments received life-to-date is displayed. Use tax
is not included in this value.
- OTHER
INCOME YTD
The total
dollar amount of other income received year-to-date is displayed. Examples of
other income include late charge income, termination/payoff fees, etc.
- OTHER INCOME LTD
The total dollar amount
of other income received life-to-date is displayed. Examples of other income include
late charge income, termination/payoff fees, etc.
- SCHEDULE
The starting and ending
payment number for each payment schedule line is displayed.
- NUMBER
The number of payments for
each payment schedule line is displayed.
- FREQUENCY
The frequency/type of the
payments (e.g., monthly, advance monthly, skip, quarterly) for each payment schedule
line is displayed.
- PAYMENT
AMOUNT
The payment amount
(excluding use tax) for each payment schedule line is displayed.
©
2001 by McCue Systems Incorporated.
All rights reserved.
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.