Net Income [R1204]

The Net Income report [R1204] compares the lease income against the note payable interest expense. The difference between the two is shown as net income.

For precomputed leases, the net income is calculated using the rental income earned and the interest expense in the note payable

For operating leases, the net income is calculated using the operating lease income earned, book depreciation expense, and interest expense in the note payable.

Only those notes payable associated with a lease are reported. An asterisk is displayed in front of the lease number if the lease is paid-off, in front of the note payable number for a paid-off note. However, if both the note payable and the associated lease are paid off, they are included in this report only if the year-to-date lessor rental income earned of the lease or the year-to-date interest expense of the note payable is greater than zero.

The report may be accessed through the Note Payable report menu [R12] and may be selected interactively for:

All leases with notes attached
A Portfolio, Company, Region, Office
A lease

Net Income Selection

ALL
Enter X to report on all leases with notes payable attached. Leave blank to report on a specific Portfolio, Company, Region, Office or Lease.
PORT
Enter the Portfolio number of the leases required. Leave blank if reporting on all leases or a specific lease.
COMP
Enter the Company number of the leases required. Leave blank if reporting on all leases or a specific lease.
REGN
Enter the Region number of the leases required. Leave blank if reporting on all leases or a specific lease.
OFFICE
Enter the Office number of the leases required. Leave blank if reporting on all leases or a specific lease.
LEASE
Enter the Lease number on which to inquire. Leave blank if reporting on multiple leases.

CURRENT MONTH
Enter X to report on lease figures for the current month only.
YEAR TO DATE
Enter X to report on lease figures for the current year only.

Net Income Report

The Net Income report [R1204] reports at the lease level and provides the following information:

LEASE
The lease number is displayed.
NOTE PAYABLE
The note payable number is displayed.
LESSEE NAME
ORIGINAL ACQUIS COST
RENTAL INCOME EARNED
The rental income accrued is displayed. Depending on selection criteria, the figure displayed will be either for the current month or year to date. Rental income is the income the lessor recognizes over the lease term.
BOOK DEPR EXPENSE
The book depreciation accrued is displayed. Depending on selection criteria, the figure displayed will be either for the current month or year to date. Depreciation expense is the amount of depreciation recognized for assets on this lease over the lease term.
INTEREST EXPENSE
The interest expense accrued for the note payable is displayed. Depending on selection criteria, the figure displayed will be either for the current month or year to date.
NET PROFIT/(LOSS)
The net profit/(loss) is displayed. It is calculated as follows:

Operating Lease:

RENTAL INCOME (current month or year to date)
- BOOK DEPRECIATION (current month or year to date)
- INTEREST EXPENSE (current month or year to date)

Non-operating Lease:

RENTAL INCOME (current month or year to date)
- INTEREST EXPENSE (current month or year to date)

TOTALS
Page totals for all dollar amounts are shown. Grand totals for the all dollar amounts are shown.

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.