The Off Lease Inventory report [R1001] produces two reports, Off Lease Inventory and Used Inventory. The Off Lease Inventory [R1001A] lists assets on file which are not currently attached to a lease (i.e., in inventory or sold).
The Used Inventory [R1001B] lists used inventory. Assets that have been placed back into inventory following a Termination [U0102]. Additionally, this report will display the Accumulated Depreciation of the asset. This report works in conjunction with Change Off Lease Book Depreciation Method enhancement (v4.3a).
This report is used to reconcile the balance in the Inventory General Ledger account as shown on the General Ledger Entries Listing report [R0406]. The report may be accessed through the Asset report menu [R10]. All assets with a pre-inventory status (assets which have never been on lease) are shown first for each office. Following this, all other assets are listed. It may appear that the report, when viewed as a whole, is not sorted by asset number. In actuality, it is sorted by asset number, but within each sub-group of assets (pre-inventory and all others).
Note: The INVENTORIED VALUE totals for each accounting unit (portfolio, company, region, and office) should balance to the Inventory General Ledger account on the General Ledger Entries Listing report [R0406]. When balancing, both the Off Lease Inventory report [R1001] and the General Ledger Entries Listing report [R0406] should be generated at the same time.
The report may be selected interactively for:
The report may be automatically generated for each portfolio at the end of the month through the End of Period update [U0401]. Use the End of Period MODULES AND REPORTS screen under the End of Period Customizations option of the Portfolio update [U0212] to specify whether the report is created.The report is organized by Portfolio, Company, Region, Office.
The Off Lease Inventory report [R1001A] reports at the asset level and provides the following information:
For
precomputed interest leases:
CONTRACT RECEIVABLE
+ RESIDUAL
- UNEARNED INCOME (LESSOR + VENDOR + INVESTOR)
For simple interest leases:
ACCRUED PRINCIPAL
For assets with a ‘pre-inventory’ status (assets that have never been on lease), the INVENTORIED VALUE is the original acquisition cost of the asset. For assets which are sold, the INVENTORIED VALUE is zero.
The Used Inventory [R1001B] report
displays the information of terminated assets whose depreciation
methods have been changed. This report works in conjunction with the Change
Depreciation at Term (Y/N) field in the Miscellaneous Customizations option
of the Portfolio [U0212] update, set to 'Y'.
If the field is set to 'N', or if the Vehicle Finance module is purchased, this
report will display the following message:
"No Items Were Found Matching Selection Criteria".
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2001 by McCue Systems Incorporated.
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