Portfolio
[U0212]
Contents
Names of individual
screens listed below were chosen as an aid to reference and navigation, and may
only reflect a few of the parameters available on those screens.
Introduction
The
Portfolio update [U0212] is used to establish or change operational parameters,
which define and control functions of LeasePak.
Multiple
portfolios, each with unique parameter settings, may be specified if the Multi-portfolio
module is purchased. Without this module, the user may set-up or change parameters
for a single default portfolio only. The parameters for this default portfolio
(portfolio 1), are in effect for all leases in the system.
Each
parameter controls a specific function or, in some cases, several functions of
LeasePak. Methods of accounting, yield calculation, file clean-ups, and End of
Period execution are a few examples of areas which may be affected by changes
to portfolio parameters. Careful analysis should be performed when changing parameters,
both at initial set-up and subsequently. Read the detailed descriptions of parameters
in the following sections to understand consequences of a change to a parameter.
In general, if a change
has potentially harmful effects (e.g., the General Ledger may go out of balance,
or existing data may be inconsistent with new parameter settings), a warning message
appears. The change is not prevented, however. Therefore, when changing parameters,
special attention should always be paid to any messages displayed on the screen.
In determining whether a given change
may have adverse effects, LeasePak may have to examine a large number of records,
possibly equal to the number of leases in the portfolio. Therefore certain edit
checks may require a long processing time.
A
permanent record of changes made to any portfolio is stored in the file DATA:LPU0212.HIS.
This file contains information on the run date and time of a change, the username
of the operator who made the change, the type of change (add, change, or delete
portfolio), the field(s) changed, the internal field name(s) of the field(s) changed,
and the old and new value(s) of the field(s) changed. This file may be read by
users with access to a DCL operating system account (e.g., xxTEST). It should
never be deleted, except under the direction of MSI personnel.
This
screen appears if the Multi-portfolio module is purchased.
If
the module is not purchased, then the CHANGE option for default portfolio 1 is
the only valid selection; this screen and the following 2 screens of the Portfolio
update [U0212] are not displayed.
Option
Descriptions
- ADD
Adds a new portfolio. Only
available if the Multi-portfolio module is purchased.
- CHANGE
Changes parameters for an
existing portfolio.
- DELETE
Deletes
an existing portfolio. Only available if the Multi-portfolio module is purchased.
Note: All
items attached (applications, leases, assets, lessees, etc.) to a portfolio must
be moved or removed, and all General Ledger account balances for all Company/Region/Office
combinations within a portfolio must be cleared before that portfolio can be deleted.
Add/Change
Portfolio
This
screen is used to indicate the number of the portfolio to be changed or added.
This screen appears only
if the Multi-portfolio module is purchased and if the user’s access is not restricted
to a specific portfolio. If the Multi-portfolio module is not purchased, default
portfolio 1 is assumed. If the user has restricted access to a specific portfolio
(refer to the Security update [U0706]),
the restricted portfolio is assumed.
Field
Descriptions
- PORT
Enter the number of the
portfolio to be added or changed. If the user is restricted through security to
a single portfolio, that portfolio number is displayed and the user may only press
Return to continue or click on Cancel to exit.
This
screen is used to enter the number of the portfolio whose parameters should be
used as defaults for a new portfolio being added. This screen appears only for
the ADD option.
Field
Descriptions
- DEFAULT
PORT
Enter the number
of a default portfolio, if applicable. This portfolio must already exist. If a
default portfolio is entered, all parameters for that portfolio are assigned to
the portfolio being added. If a default portfolio is not entered, all required
parameters for the new portfolio must be entered during this session; otherwise
the new portfolio is not added.
Portfolio
Options Menu
This
screen is used to select the category of customization parameters to be added
or changed.
If adding
a new portfolio without specifying a default portfolio, each category on this
menu must be entered and completely processed to add the new portfolio. Only for
USER DEFINED FIELDS/TABLES and PAP/ACH CONTROL FILE is entry optional. If one
or more category is not entered or completely processed before leaving this update,
the portfolio is not added and all information is deleted. No portfolio with missing
information is stored.
If
adding a new portfolio using a default portfolio, at least one category on this
menu must be entered and completely processed in order to add the new portfolio.
A specific parameter change is not required, so to add a portfolio exactly identical
to the default portfolio, select a category and press RETURN on each screen until
the above menu is redisplayed.
Option
Descriptions
- Gross receivable balance
- Net
outstanding balance
- Gross
outstanding balance
Components
that make up each of these calculations are specified through this option.
- END OF PERIOD
CUSTOMIZATIONS
This
option allows changes to End of Period parameters, such as End of Period batch
and line printer queue name, default End of Period submit states, pre- and post-user
command procedures, report totaling desired, etc.
- FIELD
CUSTOMIZATIONS
This
option allows the user to indicate whether custom fields are to be utilized (i.e.,
accessed in an update or displayed in a report) within the selected portfolio.
- MISCELLANEOUS
CUSTOMIZATIONS
This
option allows changes to miscellaneous parameters, such as portfolio name and
address, fiscal year end date, corporate tax rate, report page breaks, etc.
- MODULES CUSTOMIZATIONS
This option allows changes to parameters
controlling optional modules of LeasePak. This option appears only if one or more
of the following modules was purchased: Loan Accounting, Lease Discounting, Property
Tax Description, Capital Cost Allowance, Automated Clearing House payments, or
Lease Extension.
- NEW
LEASE CUSTOMIZATIONS
This
option allows changes to the New Lease update [U0101] parameters, such as edit
ranges (e.g., minimum and maximum original acquisition costs, tolerance amount,
minimum and maximum lease terms), yield calculation, initial direct cost information,
etc.
- PAP/ACH
CONTROL FILE
This
option is accessible if the PAP/ACH or Vendor ACH module is purchased. This option
allows changes to the PAP/ACH control file (DAC) parameters, such as bank file
layout type, currency type code, sort method code, grace days, etc. These fields
are later used in Preauthorized Payments in [U0304].
- PAYOFF
CUSTOMIZATIONS
This
option allows changes to the Payoff update [U0103] parameters, such as maximum
shortage allowed on a payoff.
- USER DEFINED
FIELDS/TABLES
This
option allows entry or change of user defined field and table definitions. Clients
who wish to store information not provided in LeasePak may create fields or tables
for entry of such customized data. Fields and tables may be defined for:
- Lease Applications
- Assets
- Customers
- Leases
- Lessees
- Vendors
For each of the items listed above,
36 fields and one table may be defined. Fields are 36 characters in length. The
table contains 12 columns and 36 rows. Each of the 432 table elements is 12 characters
in length.
The difference
between fields and the table is that the fields may contain only one value, while
the table may be used to store a list of related items. For instance, the user
may define a field for lease applications to store the vendor program from which
the application originates. Since each application can originate from only one
vendor program, only one value needs to be stored. If the lease application covers
multiple assets to be leased, a table may be used to store a list of these assets
and their features.
This
menu option appears only if the User Defined Fields module is purchased. If this
option is selected, a new menu will appear showing the accessible user defined
field/table options.
Following is a list of updates in which user-specified information may be entered
or changed if their corresponding fields and/or tables are defined:
| OPTION
| UPDATE
| FOR
|
| ADD
| Lease
Application [U0801] | Lease
Applications |
| CHANGE
| Lease
Application [U0801] | Lease
Applications |
| | | |
| ADD
ASSET | New
Leases [U0101] | Assets
|
| BOOK
LEASE | New
Leases [U0101] | Leases
|
| | | |
| CHANGE
| Master
Financial [U0202] | Leases
|
| | | |
| CHANGE
| Asset
[U0210] | Assets
|
| | | |
| ADD
| Customer
[U0205] | Customers
|
| CHANGE
| Customer
[U0205] | Customers
|
| | | |
| ADD
| Lessee
[U0203] | Lessees
|
| CHANGE
| Lessee
[U0203] | Lessees
|
| | | |
| ADD
| Vendor
[U0201] | Vendors
|
| CHANGE
| Vendor
[U0201] | Vendors
|
Also,
user defined information entered for a lease application may be viewed on the
Lease Application Inquiry report [R0502], and user defined information entered
for a lease and/or assets may be viewed through the
Lease Inquiry report [R0905]. As an alternative, reports may be customized through
any SQL query tool, such as Sybase stored procedures or Microsoft Access.
Data
entered in user defined fields and tables is not used in any LeasePak calculations
such as payment schedules, General Ledger accounting, taxes, depreciation, vendor
participation, yield, etc.
Assessment
Customizations
Assessments
- Base System
This screen is used to
establish or change parameters associated with each type of non-recurring assessment
available. Parameters control whether an assessment is used, General Ledger accounting
and delinquency calculation. If the Rename Assessments at the Portfolio Level
module is purchased, please refer to the next screen instead.
- USE (Y/N) (scrolled area)
Enter Y if the assessment
type is used in the portfolio, N if not used.
If
sales/use tax is not used, then the Accrual update [U0301] does not calculate
and assess tax automatically.
Only
assessments used appear on the Assessment update [U0105], which allows manual
assessments and waivers to a lease or asset.
An
assessment should not be changed from used to not used if there are any outstanding
receivables for the assessment. Data inconsistencies may occur. LeasePak checks
for zero outstanding receivables by verifying that there is a zero balance for
all the General Ledger assessment receivable accounts for each office in the portfolio.
(If the assessment is sales/use tax, then accounts receivable
records for all leases in the portfolio are checked for unpaid sales/use tax.)
A warning message is printed if outstanding receivables are found for the assessment.
There is no restriction on changing an assessment from not used to used.
Designating an assessment as
not used can also inhibit the use of Change Lease Key [U0114]. An attempt to change
a lease from a portfolio where an assessment is used to one where that assessment
is not used, or vice versa, will result in an error message.
- ACCOUNTING (C/A) (scrolled area)
Enter C if the assessment
should be accounted for on a cash basis (the income or payable is recognized when
the lessee pays the assessment). Enter A if the assessment should be accounted
for on an accrual basis (the income or payable is recognized when the lessor assesses
the assessment). This parameter is entered only if the assessment is used in the
portfolio.
This parameter
should not be changed if any lease or asset in the portfolio has current outstanding
receivables for the assessment type (refer to the field description above for
an explanation of how to determine current outstanding receivables). Data inconsistencies
and General Ledger out of balances may occur. A warning message is printed if
outstanding receivables are found for the assessment. Conversion of the General
Ledger and data is needed to change the accounting method from cash to accrual
or from accrual to cash.
- DELINQ
CALC (Y/N) (scrolled area)
Enter
Y if the unpaid amounts for the assessment should cause a lease to be reported
as delinquent. Otherwise, enter N. This parameter is entered only if the assessment
is used in the portfolio.
Since
LeasePak always includes sales/use tax in delinquency calculation, Y is automatically
assigned for sales/use tax and user access is not allowed to this field. If sales/use
tax is used, it is included in the delinquency calculation. If sales/use tax is
not used, it is not included (DELINQ CALC set to N).
This
parameter affects delinquency reporting and Collection module tracking only. There
is no restriction on changing the DELINQ CALC setting for an assessment.
Assessments - with Rename
Assessments Module
This
screen replaces the previous screen if the Rename Assessments at the Portfolio
Level module is purchased. This screen is used to establish or change parameters
associated with each type of non-recurring assessment available. Parameters control
whether an assessment is used, General Ledger accounting and delinquency calculation.
In addition, this screen allows users to customize assessment names and specify
the default assessment payment order.
- PAYMENT
ORDER
Assign priorities
to RENTAL/PRINCIPAL PAYMENT and INTEREST PAYMENT. The priority assigned is significant
for simple interest leases and interest bearing loans. Usually priorities 1 and
2 are used for RENTAL/PRINCIPAL and INTEREST, but any priority may be assigned,
except that numbers assigned to RENTAL PAYMENT and INTEREST PAYMENT cannot duplicate
numbers assigned to assessments in the PMT ORDER column.
- USE (Y/N) (scrolled area)
Enter Y if the assessment
type is used in the portfolio, N if not used.
If
sales/use tax is not used, then the Accrual update [U0301] does not calculate
and assess tax automatically.
Only
assessments used appear on the Assessment update [U0105], which allows manual
assessments and waivers to a lease or asset.
An
assessment should not be changed from used to not used if there are any outstanding
receivables for the assessment. Data inconsistencies may occur. LeasePak checks
for zero outstanding receivables by verifying that there is a zero balance for
all the General Ledger assessment receivable accounts for each office in the portfolio.
(If the assessment is sales/use tax, then accounts receivable records for all
leases in the portfolio are checked for unpaid sales/use tax.) A warning message
is printed if outstanding receivables are found for the assessment. There is no
restriction on changing an assessment from not used to used.
Designating
an assessment as not used can also inhibit the use of Change Lease Key [U0114].
An attempt to change a lease from a portfolio where an assessment is used to one
where that assessment is not used, or vice versa, will result in an error message.
- APPLY
PAYMENTS PAST DUE /PRIORITY (A/B/N)
Enter
or change the payment past due priority for the all receivables. A,B or N.
This field is displayed
when the JULE Fund 96 is purchased and will work in conjunction with the Priority
‘PRTY Y/N’ field on this screen.
The
Payment [U0102] update will apply payment to receivables as set in this screen.
In order to actually view the allocation of payments applied the user must refer
to LeasePak reports.
This field will allow the
user to select an alternate method to allocate payments among various receivables.
- A=Applies
to Batch and Enhanced Payments
- B
= Applies to Batch Payments Only
- N
= Applies to Normal LeasePak behavior
- PAY
SALES/USE TAX WITH EACH ITEM (Y/N)
The
default is N. Change to Y for Mexican IVA so that whenever payments are applied
to rent or interest, proportionate tax is also paid. If this field is coded Y,
it takes precedence over any Payment Order code assigned to Sales/Use Tax below.
- ASSESSMENT NAME (scrolled area)
LeasePak’s default assessment
names are displayed.
- CUSTOM
NAME (scrolled area)
Change
the name of assessment. This description will replace the LeasePak default name
on the Payments [U0102], Assessment [U0105], Sales Tax on Assessment [U0725],
Accounts Receivable Balancing [R0404], and Assessments Receivable Aging [R0607]
modules.
If assessment
names are customized, the user should make similar customizations to Office
G/L Change [U0716].
- USE
(Y/N) (scrolled area)
Enter
Y if the assessment type is used in the portfolio, N if not used.
If
sales/use tax is not used, the Accrual update [U0301] does not calculate and assess
it automatically.
Only
assessments used appear in the Assessment update [U0105], which allows manual
assessments and waivers to a lease or asset.
An
assessment should not be changed from used to not used if there are any outstanding
receivables for the assessment. Data inconsistencies may occur. LeasePak checks
for outstanding receivables by verifying that there is a zero balance for all
the General Ledger assessment receivable accounts for each office in the portfolio.
(If the assessment is sales/use tax, then accounts receivable records for all
leases in the portfolio are checked for unpaid sales/use tax.) A warning message
is printed if outstanding receivables are found for the assessment. There is no
restriction on changing an assessment from not used to used.
Note: Assessments
for opening commission and registration fee are one-time- only receivables billed
on the first invoice, if amounts are entered for the application or lease. The
fields USE, LEVEL and ACCT may not be modified for those assessments. The fields
CUSTOM NAME, PMT ORDER and DEL CALC may be modified.
- LEVEL (L/A) (scrolled area)
Displays A for asset-level
assessment or L for lease-level. Property tax, federal highway use tax, and sales/use
tax are the only asset-level assessments; the rest are all lease-level.
- ACCTG (C/A) (scrolled area)
Enter C if the assessment
should be accounted for on a cash basis (the income or payable is recognized when
the lessee pays the assessment). Enter A if the assessment should be accounted
for on an accrual basis (the income or payable is recognized when the lessor assesses
the assessment). This parameter is only entered if the assessment is used in the
portfolio.
This parameter
should not be changed if any lease or asset in the portfolio has current outstanding
receivables for the assessment type (refer to the field description above for
USE (Y/N) for an explanation of how to determine current outstanding receivables).
Data inconsistencies and General Ledger out of balances
may occur. A warning message is printed if outstanding receivables are found for
the assessment. A conversion of the General Ledger and data is needed to change
the accounting method.
- PMT
ORDER (scrolled area)
This
specifies the default payment order for each assessment. This payment order has
no effect if a full payment is made to an invoice. It will decide which assessment
will default to be paid first if a partial payment is made. A user may override
this default payment order in Payment Update [U0102].
LeasePak
will use a partial payment to satisfy those assessments with a designated payment
order first, followed by assessments with the order of zero. If all assessments
were zero, LeasePak would apply partial payment towards assessments in the order
which the assessments were placed on the invoice.
For
example, rental payment and interest payment have been assigned priorities 1 and
2 at the top of the screen. Payment extension fees and ITC fees have a designated
payment order of 3 and 4, respectively; all other assessments have a payment order
of 0. An invoice has the following assessments: legal fees, late charges, ITC
fees, extension fees, and collection fees. When a payment is made, LeasePak will
apply the payment to the assessments in the following order: payment extension
fees, ITC fees, legal fees, late charges, and collection fees.
If
a payment order is assigned to Sales/Use Tax, it must be after all other assessments.
Sales/use tax must be the final item in the array.
The
payment order of the following receivables may not be specified: recurring charges,
vendor receivable, security deposit, interim rent, and down payment. They are
processed as though their payment order were zero.
Priority
numbers must be consecutive, without gaps in the numbering. An error message ("Assessment
payment order is out of sequence") appears if a number is skipped. For example,
priority 4 cannot be assigned until 1, 2 and 3 have been assigned.
The
assessment payment order entered here will affect the Payments [U0102] and Batch
Payment [U0415] modules.
Recurring Charges
This
screen is used to establish or change recurring charges. Recurring charges are
assessments which are automatically assessed each time a payment is due on the
lease. Examples of recurring charges are maintenance and insurance. Each portfolio
may have up to 3 recurring charges, or up to 15 if the Increase the Number of
Recurring Charges module is purchased.
Important:
Unused recurring charges should all be placed at the end of the list of recurring
charges. For example, if using only two recurring charges, use charges 1 and 2,
leaving charge 3 blank. Do not use charges 2 and 3 without using charge 1, or
charges 1 and 3 without using charge 2, etc.
- RECURRING CHARGE NAME (scrolled
area)
Enter or change
the name of a recurring charge. This name appears on the assessment, billing,
and payment of the charge. Fill in RECURRING CHARGE 1 NAME before RECURRING CHARGE
2 NAME, and RECURRING CHARGE 2 NAME before RECURRING CHARGE 3 NAME.
It is not advisable to change
the meaning of any recurring charge once it is established and in use. The name
may be changed (e.g., MAINTENANCE to SERVICE FEES), but do not change the meaning
or the functionality of the recurring charge (e.g., do not change a payable assessment
to an income assessment).
- TYPE
(E/P/I/T) (scrolled area)
Enter
one of the following for each recurring charge used:
- E Denotes
that the recurring charge is tracked at the lease level and as a non-taxable recurring
charge. All charges will be billed to the client/lessee and paid through a General
Ledger account specifically designated for escrow recurring charges. The escrow
recurring charge appears as a payable whether or not the charges have been paid.
These recurring charges are accounted for on an accrual basis.
- P Denotes
that the recurring charge is payable to a third party. For example, if the lessor
requires insurance, it may bill, collect and then remit insurance payments to
the insurance company. The Third Party Payable update [U0122] reports and releases
payable recurring charges. Payable recurring charges are accounted for on a cash
basis.
- I Denotes
that the recurring charge is retained as income by the lessor. For example, if
the lessor provides maintenance on the leased equipment, it may record a monthly
maintenance fee as an income item.
- T Denotes
that the recurring charge is a special form of the use tax assessment. This type
automatically calculates use tax for the lease but disburses the amount to a third
party (the broker), not to the taxing entity. It is the broker’s responsibility,
then, to pay use tax for assets under the lease to the appropriate taxing authorities.
Only one of the recurring charges may be coded with a TYPE T.
Note:
Recurring charge type T is not supported in combination with the Sales Tax on
Assessments module. Only one or the other may be active.
This field is entered only if the
recurring charge name is entered. The recurring charge type should not be changed
if there are any outstanding receivables, income amounts, or payables for the
recurring charge. Otherwise, problems resulting from data inconsistencies may
occur. LeasePak checks for zero outstanding receivables by verifying that there
is a zero balance for all the General Ledger recurring
charge
receivable, income, and payable accounts for each office in the portfolio. A warning
message is printed if outstanding receivables, income, or payables are found for
the recurring charge. A conversion of the General Ledger and data information
may be needed in order to change the recurring charge type.
IDC/IDR
When
the Vehicle
Finance and the Multiple
Banks modules are purchased, this screen is displayed to allow the user
to customize the IDC/IDR names by long and short aliases.
When
a new Portfolio is added and a default Portfolio is used, LeasePak will default
all IDC/IDR customized names from that Portfolio. When a Portfolio is added and
a default Portfolio is not used, the alias fields are blank and are input
required
Note:
The six existing IDC/IDR’s prior to v3.1a release -
- IDC1
Insurance Premium
- IDC2
Notary Fee
- IDR1
Insurance Fee
- IDR2
Registration Fee
- IDR3
Vendor Subsidy
- IDR4
Opening Commission
need
to be customized in this update, Assessment Customizations, and in the Field Customizations
option of the Custom General update [U0712], in order for the customized IDC/IDR
names to default.
The Field Customizations option of the Portfolio update [U0212] must have the
six IDC/IDR fields active in order for the fields to be visible.
The Field Customizations [U0212] and Field Customizations [U0712] options along
with the Calculation Customization [U0212] option, will only display and allow
changes to the IDC/IDR’s prior to the v3.1a release.
- ORIGINAL IDC/IDR LABEL
LeasePak’s
IDC/IDR default names are displayed.
- 21
CHARACTER ALIAS
Enter
the customized long name for the IDC/IDR name (up to 21 characters). The customized
name will appear on LeasePak UX updates.
- 9
CHARACTER ALIAS
Enter
the customized short name for the IDC/IDR name (up to 9 characters). The customized
name will appear on LeasePak UX reports.
Calculation
Customizations
This screen is used to
establish or change components used to calculate gross receivable balance, net
outstanding balance, and gross outstanding balance. The selected components are
added to or subtracted from each other for each of the 3 calculations, as applicable
for the type of lease (precomputed, simple, operating, interest bearing loan).
Components subtracted from the total are displayed with brackets (<>).
Calculation
Components
| COMPONENT
| LEASE
TYPE(S) |
| CONTRACT
RECEIVABLE | PC
|
| RESIDUAL
| PC,
SI |
| RESIDUAL
(GUARANTEED) | PC,
SI |
| RESIDUAL
(UNGUARANTEED) | PC,
SI |
| <DEFERRED
RESIDUAL REDUCTION> | PC
|
| <UNEARNED
INCOME> | PC
|
| <DEFERRED
EXTENSION INCOME> | PC
|
| <VENDOR
PARTICIP UNEARNED> | PC
|
| <INVESTOR
PARTICIP UNEARNED> | PC
|
| <RESIDUAL
UNEARNED> | PC
|
| VENDOR
RECEIVABLE | PC
|
| LEASE
INCOME RECEIVABLE | PC,
SI, IB |
| PRINCIPAL
OUTSTANDING | SI,
IB |
| PRINCIPAL
RECEIVABLE | SI
|
| OPLEASE
ASSET VALUE | OP
|
| <OPLEASE
ACCUMULATED DEPREC> | OP
|
| OPLEASE
BOOK VALUE | OP
|
| OPLEASE
RECEIV (UNBILLED) | OP
|
| DEFERRED
OPLEASE REVENUE | OP
|
| OPLEASE
INCOME (UNBILLED) | OP
|
| SUSPENDED
PRINCIPAL | ALL
|
| SUSPENDED
INTEREST | ALL
|
| SUSPENDED
INCM REIV (UNBILLED) | ALL
|
| <SUSPENDED
INCOME ACCRUED> | ALL
|
| PAYMENTS
RECEIVABLE | PC,
OP, SI |
| PAYMENTS
RECEIV (INTEREST) | SI,
IB |
| PAYMENTS
RECEIV (PRINCIPAL) | SI,
IB |
| ASSESSMENT
(ASSUMPTION FEE) | ALL
|
| ASSESSMENT
(DOWN PAYMENT) | ALL
|
| ASSESSMENT
(COLLECTION FEE) | ALL
|
| ASSESSMENT
(FHUT) | ALL
|
| ASSESSMENT
(ITC FEE) | ALL
|
| ASSESSMENT
(LATE CHARGES) | ALL
|
| ASSESSMENT
(LEASE EXTENSION) | ALL
|
| ASSESSMENT
(LEASE REWRITE) | ALL
|
| ASSESSMENT
(LEGAL FEE) | ALL
|
| ASSESSMENT
(OTHER FEES) | ALL
|
| ASSESSMENT
(PMT EXTENSION) | ALL
|
| ASSESSMENT
(PROPERTY TAX) | ALL
|
| ASSESSMENT
(INTERIM RENT) | ALL
|
| ASSESSMENT
(SECURITY DEPOSIT) | ALL
|
| ASSESSMENT
(USE TAX) | ALL
|
| <SECURITY
DEPOSIT> | ALL
|
| UNAMORTIZED
IDC | ALL
|
| ITC
RECAPTURE | ALL
|
| RECURRING
CHARGE 1 | ALL
|
| RECURRING
CHARGE 2 | ALL
|
| RECURRING
CHARGE 3 | ALL
|
- DESCRIPTION
(scrolled area)
The
types of receivables for a lease which can be included in the custom calculation
are listed in alphabetical order below:
- ASSESSMENT
(ASSUMPTION FEE)
Assessed and unpaid assumption fee. This amount is added
to the total for all types of leases.
- ASSESSMENT
(DOWN PAYMENT)
Unpaid down payment. This amount is added to the total for
all types of leases.
- ASSESSMENT
(COLLECTION FEE)
Assessed and unpaid collection fee. This amount is added
to the total for all types of leases.
- ASSESSMENT
(FHUT)
Assessed and unpaid federal highway use tax. This amount is added to
the total for all types of leases.
- ASSESSMENT
(IDR2 - REG FEE)
Assessed and unpaid registration fee. This amount is added
to the total for all types of leases.
- ASSESSMENT
(IDR4 OPEN COMM)
Assessed and unpaid opening commission. This amount is added
to the total for all types of leases.
- ASSESSMENT
(ITC FEE)
Assessed and unpaid investment tax credit fee. This amount is added
to the total for all types of leases.
- ASSESSMENT
(LATE CHARGES)
Assessed and unpaid late charges. This amount is added to the
total for all types of leases.
- ASSESSMENT
(LEASE EXTENSION)
Assessed and unpaid lease extension fee. This amount is
added to the total for all types of leases.
- ASSESSMENT
(LEASE REWRITE)
Assessed and unpaid lease rewrite fee. This amount is added
to the total for all types of leases.
- ASSESSMENT
(LEGAL FEE)
Assessed and unpaid legal fee. This amount is added to the total
for all types of leases.
- ASSESSMENT
(OTHER FEES)
Assessed and unpaid other fees. This amount is added to the total
for all types of leases.
- ASSESSMENT
(PMT EXTENSION)
Assessed and unpaid payment extension fee. This amount is
added to the total for all types of leases.
- ASSESSMENT
(PROPERTY TAX)
Assessed and unpaid property tax. This amount is added to the
total for all types of leases.
- ASSESSMENT
(INTERIM RENT)
Unpaid interim rent. This amount is added to the total for
all types of leases.
- ASSESSMENT
(SECURITY DEPOSIT)
Unpaid security deposit to be held for the lease. This
amount is added to the total for all types of leases.
- ASSESSMENT
(USE TAX)
Outstanding use tax receivable. This amount is added to the total
for all types of leases.
- ASSESSMENT
(VENDOR RECEIVABLE)
Assessed and unpaid vendor receivable. It is only applicable
if there is vendor participation in the lease and the vendor is participating
in a percentage of the payments (not income).This amount is added to the total
for all types of leases.
- CONTRACT
RECEIVABLE
This is the total remaining lease payments to be accrued and billed.
No residual, guaranteed or unguaranteed, is included in this component. This amount
is added to the total for precomputed leases.
- <DEFERRED
EXTENSION INCOME>
This is the amount of income that has not been earned,
so it should be reduced from the lessor’s exposure. This amount is subtracted
from the total for all types of leases. This amount is added to the total for
precomputed leases.
- <DEFERRED
OPLEASE REVENUE>
This is the amount of the payment due in the next accrual
period for an operating lease with payments due in advance.This amount is subtracted
from the total for operating leases.
- <DEFERRED
RESIDUAL REDUCTION>
This is the amount of residual that has not been reduced
yet, to add this amount would overstate the lessor’s exposure. This amount is
subtracted from the total for precomputed leases.
- <INVESTOR
PARTICIP UNEARNED>
This is the remaining investor portion of the rental
income to be accrued. This amount is subtracted from the total for precomputed
interest type leases.
- ITC
RECAPTURE
This is the amount of Investment Tax Credit (after-tax value) to
be recaptured if the lease were paid off today. This amount is added to the total
for all types of leases.
- LEASE
INCOME RECEIVABLE
This is the rental income accrued (but not yet due) for
lessor, vendor, investor, and residual income components. The amount is non-zero
only for leases with other than monthly payment schedules. This amount is added
to the total for precomputed, simple and interest bearing types of leases.
- <OPLEASE
ACCUMULATED DEPREC>
This is the accumulated book depreciation of the operating
lease. If this component is selected, the OPLEASE BOOK VALUE component should
not also be selected (these elements are mutually exclusive). This amount is subtracted
from the total for operating leases.
- OPLEASE
ASSET VALUE
This is the original asset cost of the operating lease. If this
component is selected, the OPLEASE BOOK VALUE component should not also be selected
(these elements are mutually exclusive). This amount is added to the total for
operating leases.
- OPLEASE
BOOK VALUE
This is the current book value of the operating lease. If this
component is selected, the OPLEASE ASSET VALUE and the OPLEASE ACCUMULATED DEPREC
components should not also be selected (these elements are mutually exclusive).
- OPLEASE
INCOME (UNBILLED)
This is the amount of the difference between payments accrued
and income recognized for an operating lease using the straight line income accrual
method. This amount is added to the total for operating leases.
- OPLEASE
RECEIV (UNBILLED)
This is the amount of the payment due in the next accrual
period for an operating lease with payments due in arrears.This amount is added
to the total for operating leases.
- PAYMENTS
RECEIVABLE
This is the total of outstanding lease payments (accrued and) receivable.
This amount is added to the total for precomputed interest type leases, operating
leases, and simple interest type leases whose interest portion is not billed separately
(PX and LT).
- PAYMENTS
RECEIV (INTEREST)
This is the total of outstanding interest (accrued and)
receivable. This amount is added to the total for simple interest type leases
whose interest portion is billed separately (VT, VV, VL, and all interest bearing
methods). Interest adjustment to all IBL methods (a result of an interest adjustment
transaction) will also be reflected in the calculation.
- PAYMENTS
RECEIV (PRINCIPAL)
This is the total of outstanding principal (accrued and)
receivable. This amount is added to the total for simple interest type leases
whose interest portion is billed separately (VT, VV, VL, and all interest bearing
methods). Principal adjustment to P and I IBL methods (a result of an interest
adjustment transaction) will also be reflected in the calculation.
- PRINCIPAL
OUTSTANDING
This is the unaccrued principal balance. This amount is added
to the total for all simple interest, and interest bearing type leases.
- PRINCIPAL
RECEIVABLE
This is the principal unpaid for simple interest accrual type LT.
This amount may be positive or negative. A positive amount indicates a receivable
to the lessor (resulting from a net increase in the interest rates for floating
rate leases); a negative balance indicates a payable (resulting from a net decrease
in the interest rates for floating rate leases). This amount is added to the total
for LT simple interest type leases (this "addition" may cause a net
decrease in the total if the amount is negative).
- RECURRING
CHARGES
This is the assessed and unpaid recurring charge amount. This amount
is added to the total for all types of leases. If the Increase Number Of Recurring
Charges module is purchased, there are a total of 15 possible recurring charges;
otherwise, there are 3.
- RESIDUAL
This is the entire residual value (guaranteed plus unguaranteed) of the lease.
If this component is selected, the RESIDUAL (GUARANTEED) and RESIDUAL (UNGUARANTEED)
components should not also be selected (these elements are mutually exclusive).
This amount is added to the total for precomputed and simple interest types of
leases.
- RESIDUAL
(GUARANTEED)
This is the guaranteed portion of the residual value. If this
component is selected, the RESIDUAL component should not also be selected (these
elements are mutually exclusive). This amount is added to the total for precomputed
and simple interest types of leases.
- <RESIDUAL
UNEARNED>
This is the unearned portion of the residual value. This amount
is subtracted from the total for precomputed interest type leases.
- RESIDUAL
(UNGUARANTEED)
This is the unguaranteed portion of the residual value. If
this component is selected, the RESIDUAL component should not also be selected
(these elements are mutually exclusive). This amount is added to the total for
precomputed and simple interest types of leases.
- <SECURITY
DEPOSIT>
This is the amount of refundable security deposit held or to be
held for the lease (i.e., whether received or not). This amount is subtracted
from the total for all types of leases.
- SUSPENDED
IDC ACCRUED
This is the amount of IDC on a lease in a suspended status. This
amount is added to the total for all types of leases.
- SUSPENDED
IDC1 INS PREM
This is the amount of insurance premium on a lease in a suspended
status. This amount is added to the total for all types of leases.
- SUSPENDED
IDC2 NOTARY FEE
This is the amount of notary fee on a lease in a suspended
status. This amount is added to the total for all types of leases.
- <SUSPENDED
IDR1 INS FEE>
This is the amount of insurance fee that may not be collected.
This amount is subtracted from the total for all types of leases.
- <SUSPENDED
IDR2 REG FEE>
This is the amount of registration fee that may not be collected. This
amount is subtracted from the total for all types of leases.
- <SUSPENDED
IDR3 VEN SUBSIDY>
This is the amount of vendor subsidy that may not be
collected. This amount is subtracted from the total for all types of leases.
- <SUSPENDED
IDR4 OPEN COMM>
This is the amount of opening commission that may not be collected. This
amount is subtracted from the total for all types of leases.
- <SUSPENDED
INCOME ACCRUED>
This is the amount of income that may not be earned even
though unearned income was reduced by this amount. This amount is subtracted from
the total for all types of leases.
- SUSP
INCOME RECEIV (UNBILLED)
This is the amount of suspended income accrued increased
even though unearned income has not been reduced by this amount. This amount is
added to the total for all types of leases.
- SUSPENDED
INTEREST
This is the amount that may not be collected even though contract
receivable has been reduced by this amount This amount is added to the total for
all types of leases.
- SUSPENDED
PRINCIPAL
This is the amount that may not be collected even though contract
receivable has been reduced by this amount This amount is added to the total for
all types of leases.
- UNAMORTIZED
IDC
This is the portion of initial direct cost expense which has not yet been
amortized (under Statement 91 of the Financial Accounting Standards Board). This
amount is added to the total for all types of leases.
- UNAMORTIZED
IDC1 INS PREM
This is the portion of insurance premium expense which has not
yet been amortized. This amount is added to the total for all types of leases.
- UNAMORTIZED
IDC2 NOTARY FEE
This is the portion of notary fee expense which has not yet
been amortized. This amount is added to the total for all types of leases.
- <UNAMORTIZED
IDR1 INS FEE>
This is the unrecognized income from insurance fees. This
amount is subtracted from the total for all types of leases.
- <UNAMORTIZED
IDR2 REG FEE>
This is the unrecognized income from registration fees. This
amount is subtracted from the total for all types of leases.
- <UNAMORTIZED
IDR3 VEN SUBSIDY>
This is unrecognized income from vendor subsidies. This amount is subtracted
from the total for all types of leases.
- <UNAMORTIZED
IDR4 OPEN COMM>
This is unrecognized opening commission income. This amount
is subtracted from the total for all types of leases.
- <UNEARNED
INCOME>
This is the unrecognized rental income (income remaining to be
accrued) for the lease, exclusive of vendor or investor unearned income. This
amount is subtracted from the total for precomputed interest type leases.
- <VENDOR
PARTICIP UNEARNED>
This is the remaining vendor portion of the rental income
to be accrued. This amount is subtracted from the total for precomputed interest
type leases.
- VENDOR
RECEIVABLE
This is the remaining vendor portion of the lease payments to be
accrued and billed. It is only applicable if there is vendor participation in
the lease and the vendor is participating in a percentage of the payments (not
income). This amount is added to the total for precomputed interest type leases.
- LEASE
TYPE (scrolled area)
This
field identifies lease type(s) which are affected by each of the possible components
of the custom calculations. If a certain component is added or subtracted only
for precomputed interest leases, then PC will be coded here.
- ALL This component
applies to all types of leases.
- IB The
INTEREST BEARING type includes all interest bearing accrual methods (AX, AF, IX,
IF). Interest bearing loans provide actual daily balance outstanding interest
calculations under both fixed and floating rate methods. These methods differ
from other LeasePak simple interest accrual methods in that adjustments to earned
interest are made due to early or late receipt of payment.
- OP The
OPERATING type includes the straight-line (SL), variable (OV) and payments (PM)
operating lease accrual methods.
- PC The
PRECOMPUTED type includes Level or Constant Yield (FASB method), Rule of 12/78ths,
Rule of 12/78ths Half Month Convention, Straight Line, and Residual accrual methods.
An amortization schedule of income to be earned each month can always be calculated
at the start of the lease, hence the use of the term ‘precomputed’.
As a special case, the simple interest methods VV and VL are also included
in this category because an estimated contract receivable and unearned income
amount is calculated for these simple interest types.
- SI The
SIMPLE type includes Precomputed Simple (PX), and the simple interest floating
rate methods LT and VT.
As a special case, simple interest methods
VV and VL are excluded from this category because an estimated contract receivable
and unearned income amount is calculated for these simple interest types.
- GROSS
RECEIVABLE BALANCE (Y/N) (scrolled area)
Enter
Y if the component should be used in the calculation of gross receivable balance
for the lease type(s) specified.
This
parameter affects reporting only. There is no restriction on changing the GROSS
RECEIVABLE BALANCE calculation.
- NET
OUTSTANDING BALANCE (Y/N) (scrolled area)
Enter
Y if the component should be used in the calculation of net outstanding balance
for the lease type(s) specified.
This
parameter affects reporting only. There is no restriction on changing the NET
OUTSTANDING BALANCE calculation.
When
calculating the Net Outstanding Balance for both simple interest and pre- computed
methods, the simple interest amount balances to the Net Outstanding Balance on
the Lease Inquiry [R0905]. The Following calculation is the total Net Outstanding
balance based on the following accounts: +Contract
Receivable
+Residual
-Unearned Income
+Principal Outstanding
+Payments Receivable
+Payments Receivable
Interest
+Payments
Receivable Principal
- GROSS
OUTSTANDING BALANCE (Y/N) (scrolled area)
Enter
Y if the component should be used in the calculation of gross outstanding balance
for the lease type(s) specified.
This
parameter affects reporting only. There is no restriction on changing the GROSS
OUTSTANDING BALANCE calculation.
End
of Period Customizations
Portfolio
Setup
This screen is used to
establish or change parameters which control the submission, execution and output
of the End of Period update [U0401].
- END
OF PERIOD REPORT DESTINATION
Enter
or change the code for the output device to which reports produced by End of Period
are sent. This code must be a valid DESTINATION CODE as entered on the second
screen of the Device and Printer Customizations option of the Custom General update
[U0712]. Use Help for a list of valid report destination codes.
- END OF PERIOD SUPERVISOR
For LeasePak UX this field
must be left blank.
Note:
If this field is mistakenly filled in, EOP will not run properly.
- END OF PERIOD QUEUE NAME
Enter or change the logical
name of the batch queue on which End of Period for this portfolio executes. The
submission of End of Period causes many batch jobs to be submitted to the batch
queue (one per module or function to be performed). Therefore, it is recommended
that a batch queue separate from the normal system batch queue (SYS$BATCH) be
established for End of Period for each portfolio. The maximum number of jobs that
may be submitted to a batch queue is 200; submitting End of Period for several
portfolios to one batch queue may exceed this limit. It is recommended that each
portfolio be assigned its own batch queue. If assigned a job limit greater than
1, this batch queue can execute multiple End of Period functions at the same time.
Logical names are system- defined, so the system manager should always be consulted
before a logical name is entered or changed. LeasePak does not verify the validity
of the logical name.
- PRE-EOP
USER COMMAND PROCEDURE
For
LeasePak UX this field must be left blank
Note:
If this field is mistakenly filled in, EOP will not run properly.
- POST-EOP USER COMMAND PROCEDURE
For LeasePak UX this field
must be left blank
Note:
If this field is mistakenly filled in, EOP will not run properly.
- END
OF PERIOD MULTI-PROCESS COUNT
Certain
End of Period modules, such as Sequential Updates, may split the portfolio into
a number of segments to be executed in parallel, thus more effectively using the
computer’s processing capabilities. This should be set to a value greater than
one when running LeasePak on a computer that supports symmetric multi-processing
and contains several processors.
- LOCK
UPDATES ON EOP SUBMIT (Y/N)
With this parameter set to Y, before submitting EOP all users must have
completed updates. Enter N to submit EOP without locking updates. With N,
updates will be locked when EOP actually starts execution, at which time EOP
will send a message to any LeasePak users attempting to process updates that
the portfolio is locked on the system, that EOP will be starting for the specified
portfolio. The message will be repeated every 60 seconds for 5 minutes before
stopping and recovering all processes found to be in an update for the EOP
portfolio.
- END
OF PERIOD SPLIT TYPE (F/U/R)
This switch works in
conjunction with the High
Volume module, a separately purchased module of LeasePak. Enter or
change the Split EOP type to one of the following:
F Denotes
that End of Period should execute all selected modules. This is the standard setting.
This field should always be set to ‘F’, unless your MSI representative has recommended
another setting.
U Denotes
that End of Period should execute only "update modules", that is, modules
which modify the database. Most "report modules" (read only modules)
will be automatically skipped, thus allowing End of Period to complete in less
time.
R Denotes
that End of Period should execute only "report modules". "Update
modules" are automatically skipped. This option should only be used when
running the End of Period reports and the ‘U’ option is skipped, on a backup database
in a separate environment.
- DEFAULT
END OF DAY SUBMIT STATE (H/I/A)
Enter
or change the default submit state to one of the following:
I Denotes that End
of Day should begin executing as soon as it is submitted. When End of Day is submitted
to the batch queue, it begins executing immediately. End of Day should be executed
immediately only if data files have already been backed up.
A Denotes
that End of Day should begin executing after a specific time. LeasePak submits
End of Day to the batch queue in a hold status; at the specified time, End of
Day begins executing automatically.
This submit
state is a default only. The actual submit state may be changed when End of Period
is submitted. The End of Day submit state is overridden by the End of Month submit
state if both End of Day and End of Month are submitted together.
- DEFAULT
END OF DAY SUBMIT AFTER TIME
This
parameter is entered if the DEFAULT END OF DAY SUBMIT STATE is A. Enter or change
a valid time ASCII string, indicating the time that End of Day should begin executing.
Refer to the Additional Information
section at the end of this section for valid time ASCII input strings. An AFTER
TIME between midnight (00:00) and 8:00 am (08:00) causes LeasePak to submit End
of Day to execute the next day at the specified time. Any other time causes LeasePak
to submit End of Day to execute
today at the specified time. For example, if End of Day is submitted on Monday
at 5:00 pm with an AFTER TIME of 23:00, it begins executing on Monday at 11:00
pm. If it is submitted with an AFTER TIME of 02:00, it begins executing on Tuesday
at 2:00 am. If End of Day is submitted on Monday at 6:00 am with an AFTER TIME
of 7:00 am, it begins executing on Tuesday at 7:00 am.
Time
Formats
There
are 2 valid time formats that may be used to specify an after time:
- Absolute time which specifies
an actual date and/or time
- Delta
time which specifies a date and time in the future, calculated from the current
date and time.
An
absolute time is similar to an alarm clock setting. A delta time is similar to
an egg timer setting.
The
formats of these two dates are:
Absolute
Time dd-mmm-yyyy hh:mm:ss.cc
Delta Time dddd
hh:mm:ss.cc
Either
time may be abbreviated, but the hyphens and spaces are required.
Examples
| Absolute:
| --
23:00 | Execute
at 11:00 pm of the current day |
| |
-- 00:01
| Execute
at 12:01 am on the day following the current day (automatic day adjustment is
performed by LeasePak) |
| |
-- 09:00
| Execute
at 9:00 am of the current day |
| | | |
| Delta:
| 0
00:15 | Execute
in 15 minutes from the current time of submission |
| |
0 04:00
| Execute
in 4 hours from the current time of submission |
| |
1 00:01
| Execute
in 1 day and 1 minute from the current time of submission |
Note
that the absolute time examples do not specify a date (e.g., 01-Jan- 1995). Since
End of Day and End of Month processes are submitted on an ongoing basis, it would
be inappropriate to specify an actual date as the default date on which to submit
a process. Notice, however, that the hyphens which normally separate day, month,
and year are required.
Report Totals
This
screen is used to enter default report totaling parameters for End of Period reports
for the portfolio. When adding a new portfolio, these fields are defaulted by
LeasePak and may be changed. These parameters govern the way End of Period reports
are generated for the portfolio.
The
fields Subtotals by PORTFOLIO, COMPANY, REGION, OFFICE, CUSTOMER or GROUP may
be selected only if the SUBTOTAL field at the top is Y. The same is true for the
GRAND TOTAL field at the top and the related fields below it.
- SUBTOTALS (Y/N)
Enter
Y to produce subtotals whenever the region, company, portfolio or customer changes
in a report. These subtotals are displayed on a separate page of the report and
summarize all offices of that region, company and portfolio or all groups of that
customer. Enter N to prevent printing these additional subtotal pages. This field
cannot be Y when all the related subtotal switches are N.
These subtotals are most meaningful if the report is intended to be physically
separated by region, company, portfolio or customer, and each section distributed
to that region, company, portfolio or customer.
These subtotals are not to be confused with the office or group totals that appear
on the same page as the last detail line of the office or group. Office and group
totals at the end of the detail information always appear, regardless of the setting
of this switch. Subtotals, as set by this switch, are a totaling option which
re-summarizes the totals at selected break points.
- Subtotals
by PORTFOLIO (Y/N)
Enter
Y to produce a page of subtotals summarizing the portfolio when the portfolio
changes. This parameter has effect only if the Multi-portfolio module is purchased.
- Subtotals
by COMPANY (Y/N)
Enter
Y to produce a page of subtotals summarizing the company when the company changes
and list the company subtotals on the portfolio subtotal summary. Enter N to not
produce these subtotals.
- Subtotals
by REGION (Y/N)
Enter
Y to produce a page of subtotals summarizing the region when the region changes
and list the region subtotals on the portfolio and company subtotal summaries.
Enter N to not produce these subtotals.
- Subtotals
by OFFICE (Y/N)
Enter
Y to list the office subtotals on the portfolio, company and region subtotal summaries.
Enter N to not list these subtotals.
- Subtotals
by CUSTOMER (Y/N)
Enter
Y to produce a page of subtotals summarizing the customer when the customer changes.
Enter N to not produce these subtotals.
- Subtotals
by GROUP (Y/N)
Enter
Y to list group subtotals on the customer subtotal summaries. Enter N to not list
these subtotals.
- GRAND
TOTALS (Y/N)
Enter Y
to produce grand totals at the end of the report. These totals summarize all offices,
regions, companies, portfolios, groups and customers of the entire report. Enter
N to prevent producing these grand totals. This field cannot be Y when all the
related grand total switches are N.
- Grand
totals by PORTFOLIO (Y/N)
Enter
Y to list portfolio totals on the grand totals page. Enter N to not list these
grand totals. This parameter has effect only if the Multi-portfolio module is
purchased.
- Grand
totals by COMPANY (Y/N)
Enter
Y to list company totals on the grand totals page. Enter N to not list these grand
totals.
- Grand
totals by REGION (Y/N)
Enter
Y to list region totals on the grand totals page. Enter N to not list these grand
totals.
- Grand
totals by OFFICE (Y/N)
Enter
Y to list office totals on the grand totals page. Enter N to not list these grand
totals.
- Grand
totals by CUSTOMER (Y/N)
Enter
Y to list customer totals on the grand totals page. Enter N to not list these
grand totals.
- Grand
totals by GROUP (Y/N)
Enter
Y to list group totals on the grand totals page. Enter N to not list these grand
totals.
Modules
and Reports
This
screen is used to establish or change the modules to be executed through End of
Period. All End of Period functions are included in this list in the following
order:
- Accrual
- Invoicing
- End
of Day
- End of Month
- End
of Year
If a module
is executed during 2 distinct periods (e.g., the Depreciation report [R0304] is
executed both at month-end and year-end), there are 2 separate entries for that
module.
The notation
(Seq Upd) appears after some module names to indicate that they are always run
as part of the Sequential Update module. On EOP status updates [U0402] and [U0403],
on EOP Halt/Restart/Skip [U0404] and on EOP Restart [R0405], the names of these
modules do not appear. Instead they are covered by the Sequential Updates module
[U0411].
Refer to the
End of Period [U04]: Overview documentation
for more information on each function of End of Period.
- END
OF PERIOD MODULES AND REPORT (scrolled area)
Enter
X next to the module(s) to execute during End of Period. Only those modules selected
with an X will execute.
An indented line shows the associated report for the module immediately above
it. There may be multiple reports for a module. An X may not be placed next to
these reports. To generate them, select the module to which the reports belong.
The reports associated
with a module are listed below the module name. For reports this screen allows
the user to specify number of copies etc. Note the following exceptions:
- Cycle
Invoices (formatting) may not be selected if Cycle Invoices is not selected.
- Sequential
Updates must be selected if one or more Sequential Updates options are selected.
- The Sequential
Updates Post-processor and Sequential Updates Post Merge must be selected if Sequential
Updates is selected.
Note:
Four reports should not be selected, because they cannot be generated as part
of EOP. They are ITC Listing, ITC Review, ETC Listing and ETC Review.
- COPIES
(scrolled area)
Enter
or change the number of copies of the report to print. If zero copies are entered,
no report is printed. However, the report is generated if it is selected under
END OF PERIOD MODULES AND REPORTS.
- FORM
(scrolled area)
Enter
or change the form type code used to submit the print job to the End of Period
line printer. The form type defines the type of paper or form on which to print
a report (e.g., regular one-ply computer paper, letterhead paper, invoice form,
check form, etc.). Form types are system-defined, so the system manager should
be consulted if a new form type is required. LeasePak does not verify the validity
of the form type code entered.
If
the form type code is set to PL01 (default one-ply computer paper), the report
prints (or is queued to print) immediately, as long as the End of Period line
printer is currently printing reports with a form type PL01. Reports with other
form codes are queued to the line printer but are not printed until the printer
form type is changed to the form type with which the reports were queued. The
line printer’s normal setting is to print reports queued with a form type code
PL01.
- MICROFICHE
(scrolled area)
Enter
Y if the report should be microfiched. A single microfiche copy of the report
is always assumed (i.e., TOTAL COPIES does not apply). A report may be both microfiched
and printed by entering a total number of copies greater than zero for printed
reports and entering Y in this field. A report may be microfiched and not printed
by entering zero printed copies and entering Y in this field.
- TOTAL COPIES
The
total number of copies of the report to be printed is displayed. It is calculated
by multiplying COPIES by the ply paper (e.g., 3 copies on 2-ply paper totals 6
copies). Total number of copies does not apply to microfiche. If the report is
to be microfiched, a single copy is assumed.
Field
Customizations
This
screen is used to indicate whether each field is to be active (i.e., accessed
in an update or displayed in a report) in the Applications module within the selected
portfolio.
If a new portfolio
is being added and no default portfolio is used, the Access/Display fields are
defaulted to X, which means the field can be accessed and reported.
- FIELD NAME (scrolled area)
Scroll through an alphabetized
list of fields in the Applications module. Lease fields are listed without prefixes;
all other fields are grouped using one of the following prefixes:
AS Asset
BANK Bank
Reference
BILL Billing
Address
BRK Broker
EMP1 First Employment
EMP2 Second Employment
GUAR Guarantor
IADD Individual
Address (lease)
IBLL Individual
Billing Address (lease)
INSR Insurance
INV Investor
LES Lessee
OTHR Other/Previous
Address
PEMP Previous
Employment
PERS Personal
Reference
PROF Professional
Reference
RC01 Recurring
Charge 1
RC02 Recurring
Charge 2
RC03 Recurring
Charge 3
RC04 Recurring
Charge 4
(Additional Recurring Charges through 15 are displayed if module
has been purchased.)
SALE Salesperson
TRAD Trade
References
VND Vendor
- UPD
ACCESS / RPT DISPLAY (scrolled area)
Enter
X if the field should be accessed in all Applications tracking updates or displayed
in all Applications reports. To restrict the field from being accessed/ displayed,
leave this field blank.
Advanced
Note: A field may not be marked as non-access/display if previously defined as
a required field for the selected portfolio. Refer to the Application Entry Requirements
update [U0813] for more information.
Miscellaneous
Customizations
Name,
Interest Type
This
screen is used to establish or change name and address and other miscellaneous
information for the portfolio.
- NAME
Enter or change the
portfolio name. This name appears on the first line of report headings for
the portfolio. Also, the name for default portfolio 1 appears at the top of
all LeasePak screens.
- ADDRESS / CITY / STATE / ZIP
Enter the portfolio
address. These fields are informational only.
- PHONE
Enter the portfolio
area code and phone number. This field is informational only.
- DIVISION NAME (REPORT HEADING)
Enter the portfolio
division name. This name, if entered, appears on the second line of all report
headings for the portfolio.
- INVOICE HEADING CODE
This field is not used
in LeasePak UX.
- INVOICE FORMAT CODE
This field is not used
in LeasePak UX.
- LAST
PAID AMOUNT ON INVOICE (Y/N)
Set this switch to Y to have the amount from the Lease Inquiry [R0905]
AMOUNT CURR PAID
carried over into the AMOUNT
LAST PAID during invoicing at end of period.
- SORT INVOICES BY CUSTOMER
(Y/N)
This field is not used
in LeasePak UX. If the user generates invoices from the old LeasePak scratch
files, Y should only be entered if the user's database is set up so that all
lessees belong to customers. Otherwise, enter N.
- PORTFOLIO
INTEREST TYPE
This 4-character code
indicates the type of leases that are included in the portfolio. It is structured
in the following manner:
Nxxx or Rxxx
The first character
is N or R. N indicates base rates are not monitored (i.e., no floating
rate leases in the portfolio). R indicates base rates must be updated
daily (i.e., floating rate leases exist in the portfolio).
If R is entered,
the user must update the base rates each day before New Lease update [U0101],
Accrual update [U0301], Payoff update [U0103], or End of Period update
[U0401] may be entered.
xNxx or xPxx
The second character
is either N or P. N indicates no precomputed interest leases exist in
the portfolio. P indicates they do. Refer to the Calculations document
of the Reference Guide for definitions of precomputed leases.
xxNx or xxSx
The third character
is either N or S. N indicates no simple interest leases exist in the portfolio.
S indicates that they do. Refer to the Calculations document of the Reference
Guide for definitions of simple interest leases.
xxxN or xxxO
The fourth
character is either N or the letter O. N indicates no operating leases
exist in the portfolio. O indicates they do. Refer to the Calculations
document of the Reference Guide for definitions
of operating leases.
Operating leases are designated by a lease type of OPER, entered during
the Book Lease option of the New Lease update [U0101].
A warning message is displayed
if the base rate indicator is turned on so that base rates must be updated
daily or if any of the 3 types of leases is specified as not existing in
the portfolio. This code is used by certain functions, such as the Trial
Balance report [R0901], which report separately on leases in each of these
3 categories. Therefore, care should be exercised when changing this code.
- REMITTANCE
CODE
The remittance address
is the return address that is printed on the invoice and is maintained through
the Auxiliary Address update [U0704]. Enter or change the remittance code
that indicates how LeasePak derives the default remit to address
when a lessee address is added or changed (through the Lessee update [U0203]).
Valid remittance codes are:
CL The default
remittance address is the remittance address set up with a code of 1.
If none of the following special default methods are used, then this method
should be selected, and a remittance address with code 1 should be established
through the Auxiliary Address update [U0704].
COMP The default
remittance address is the address coded to match portfolio and company
number of the lease. For example, if the lease belongs to portfolio 1
and company 2, a remittance address of 12 should be set up. Use the Auxiliary
Address update [U0704] to set up a remittance address for each combination
of portfolio and company used.
ENT No default
remittance address exists. The remittance address must be entered by the
user for each lease.
GEO1 The default
remittance address is based on the lessee address state. Each remittance
code entered through the Auxiliary Address update [U0704] must have a
list of states associated with it. (Refer to the documentation for Auxiliary
Address update [U0704]).
PORT The default
remittance address is coded to match the portfolio number of the lease.
For example, if the lease belongs to portfolio 2, remittance address 2
should be set up. Use the Auxiliary Address update [U0704] to set up a
remittance address for each portfolio used. Consider this option only
if the Multi-portfolio module is purchased.
REGN The default
remittance address is coded to match the company and region number of
the lease. For example, if the lease belongs to company 2, region 3, remittance
address 23 should be set up. Use the Auxiliary Address update [U0704]
to set up a remittance address for each combination of company and region
used. Consider this option only if the Multi-portfolio module is not purchased.
In all cases, if the default
remittance address does not exist, no default is displayed by the Book Lease
option of the New Lease update [U0101] or the Lessee update [U0203].
- BATCH QUEUE NAME
Enter or change the
logical name of the batch queue to which batch report jobs are to be directed
(e.g., SYS$BATCH). Logical names are system parameters, so the system manager
should be consulted before a logical name is entered or changed. LeasePak
does not verify the logical name. If an invalid name is entered, batch reports
cannot be executed.
- LASER INVOICE FORM CODE (GROUP)
This field is not used
in LeasePak UX.
- LASER INVOICE FORM CODE (INDIVIDUAL)
This field is not used
in LeasePak UX.
- REVERSAL BANK CODE
This parameter appears
only if the Multiple Banks module is purchased. When the Reverse Payment to
Effective Date option of the Payment update [U0102] is used, this REVERSAL
BANK CODE will default for the payment reversal. It affects only the [U0102RP]
option, and has no effect on other updates. It may be overridden if desired.
Generally a "dummy" or clearing bank code would be used as the default
for payments reversed back to the commencement date prior to rebooking.
Deferral, Year End
This
screen is used to establish or change miscellaneous information for the portfolio.
- LAST
DAY OF THE MONTH
Enter or change the
day the accounting books are closed monthly. This is the day End of Month
processing should normally be submitted. End of Month may be submitted up
to 5 days before this day for the current month. End of Month may also be
submitted later, any number of days after this day. However, a month should
never be skipped entirely. To specify that End of Month processing should
normally occur on the last day of each month, enter 31. LeasePak adjusts this
number for months with fewer than 31 days.
When the 1999
JULE Fund module is purchased, the Month End Accrual and Invoicing
enhancement will allow LeasePak to accrue and invoice up to the actual month
end when End of Month is submitted prior to the actual end of month day. The
day entered in this field will guide the actual number of days
that EOM can be submitted and all leases included. The exact day when accruals
and /or invoicing will take place will depend on the INVOICING
DEFERRAL DAYS and ACCRUAL
DEFERRAL DAYS set below.
Note: Late Charges
will only be assessed when the lease is past due. For example, End of Month
is run on the 29th and LeasePak is processing pre- accruals and invoices up
to the 31st of the month, Late Charges will not be assessed until on or after
the 31st of the month.
Additionally,
when Advance Invoicing is on, the Place Late Charge on Delinquent Invoice
field in Lease Form [U0721] must be set to N.
- GRACE PERIOD IN DAYS
Enter or change grace period at the portfolio level. Portfolio grace period
determines the group of leases to accrue and/or invoice during End of Day
processing, even if the grace period for the lease is changed when the lease
is booked. LeasePak waits this number of days before accruing and invoicing
leases for the following month. For example, if portfolio grace period is
10 days and the lease grace period is 5 days, LeasePak waits until the eleventh
of the month before accruing leases with payments due on the first. This allows
late charge calculation and assessment to be performed for all leases in the
portfolio at the time of the accrual. If the lease is accrued interactively
between the sixth and the eleventh of the month, however, it is accrued for
the next month.
Grace period is set up at the portfolio, lease form, and lease levels. Portfolio
level grace period should be the maximum grace period allowed for any lease
whose late charge calculation is not controlled by the actual number of days
delinquent (i.e., late charge method is not GFTx or GFLx). This grace period
should always be less than or equal to 30 days. The actual grace period, if
it differs from the portfolio period, may be changed when the lease is booked.
Refer to the LATE CHARGE INFORMAITON
screen of the Lease Form update [U0721] for more information regarding
late charge methods.
Grace period at the portfolio
level is not applicable to leases whose late charge method is GFTx or GFLx.
These leases use the lease form and lease level grace periods. Refer to the
Calculations document for more information about late
charge calculations.
- INVOICING
DEFERRAL DAYS
This field is the number
of days AFTER payment due day that the lease should be invoiced for the following
month. For example, if this field is set to10 days, cycle invoices run every
day, and today is the eleventh, LeasePak will invoice today for leases due
on the first of next month. If the lease is invoiced interactively, Invoicing
Deferral Days is not applicable.
A lease has a due
date of the 31st, Accrual Deferral is set to 0, the lease will always be
included in EOM accrual regardless of the number of days in each month.
If a lease has a due
date of the 20th and the accrual deferral day is set to 11, than it will
be included in EOM accrual on if the month has 31 days. for example, if
End of Month is submitted on April 25, accruals will run through April 30th.
The accrual for this lease will not be picked up until May 1st.
- SUSPENSE
LIMIT IN DAYS
Enter or change the
number of days to wait before a cleared suspense item is automatically deleted
by the End of Day process. A cleared suspense item has zero remaining balance.
An open suspense item (i.e., one with a non-zero remaining balance) is never
automatically deleted, regardless of the number of days it has been on file.
- FISCAL
YEAR END
Enter or change the
corporate fiscal year end date in MM/DD format. The End of Year process automatically
executes after End of Month process for the specified month of the year end.
For example, if fiscal year end is 06/30, the End of Year process executes
immediately after End of Month for June. The End of Year Tax Model may be
executed only between this date and the TAX REPORTING DEADLINE FOR YEAR END
date.
- TAX
REPORTING DEADLINE
Enter or change the
tax reporting deadline in MM/DD format. The End of Year tax model may be executed
between the FISCAL YEAR END and this date. For example, if fiscal year end
is 6/30 and tax reporting deadline is 9/30, the tax model may be executed
between 6/30 and 9/30. The tax model allows "what-if" modeling and
file changes to depreciation and/or ITC methods specified for assets booked
during the just-completed fiscal year.
- ITC CUTOFF DATE
Enter or change the
ITC cutoff date in MM/DD format. Depreciation and ITC methods for leases booked
during the just-completed fiscal year may only be changed between the FISCAL
YEAR END and this date.
- TAX RATE%
Enter or change the
corporate tax rate. This rate is used in yield calculations by the Model Amortization
report [R0109]. If the tax rate is 26%, enter 26.00000, not ___.26000
- BAD DEBT%
Enter or change the
portfolio default for bad debt percentage. This percentage of the contract
receivable is allocated to an allowance for bad debt reserve when a new lease
is booked. (The percentage may be changed for individual leases in the Book
Lease option of the New Lease update [U0101].) If the percentage is 2%, then
enter _2.00000, not ___.02000.
- COMMISSION RATE%
Enter or change the
commission rate for salespersons, if applicable. This rate times the net present
value of the lease’s payment stream (using the discount rate) is displayed
on the Salesperson Commission report [R0204]. Do not enter a rate if this
commission calculation is not applicable. If the rate is 6%, then enter _6.00000,
not ___.06000.
- GRACE AMOUNT
Late charges are not
assessed on delinquent balances less than or equal to this amount. Leases
with delinquent balances less than or equal to this amount will not be considered
delinquent by the Collection module.
- PMTS
TO ALLOW FIRST EXT / DEF
Enter or change the
number of payments that will allow for the first payment extension or deferment.
- PMTS TO ALLOW BETWEEN NEXT
EXT. / DEF
Enter or change the
number of payments that will allow for a next extension or deferment.
Note: If a lease
is not eligible for an extension, LeasePak will prompt the user and not allow
an extension to be made until the lease meets the extension criteria. Only
a user with Collection or Customer Service Supervisor security may override
the eligibility if the lease does not meet the criteria.
Also: The Extension
and Deferment eligibility switches are governed by the EXT/ DEF ELIGIBILITY
(Y/N) switch in the Miscellaneous Customization option of the Custom General
update [U0712].
- BATCH
APPLICATION STATUS
Enter or change the
batch application status. This field will allow all pending applications and
pending assets to be booked through the Batch
Application [U0101] module with the same status. LeasePak will allow
Batch
Book Requirement
[U0801]
to be processed, when the application status is equal to the one entered in
this field. All statuses may be defined in Application
Status [U08011] update. The status assigned must begin with ‘A’ for
Approved.
- MAX PMT EXT/DEF ORP/FIN
Enter or change the
maximum number of payments to extend or defer a lease based on whether the
lease is an operating or finance lease.
- REVERSE EXT FEE TO SUSP Y/N
Enter Y or N for the
extension reversal fee to be places in Suspense. When ‘Y’ is selected the
extension fee will be placed in Suspense [U0109]. If ‘N’ is selected, the
extension fee will be placed in cash.
Note:. The Payment
Extension Reversal will reverse any paid extension fees. When the Cash Control
module is purchased, LeasePak will allow for a new reversal by reason code
to be entered for any paid extension fees. The payment extension/deferment
can be reversed in the Payment Reversal or Batch Number Payment Reversal [U0102]
updates.
- ALLOW RESCHDL RESIDUAL UPDATE
Y/N
Enter Y or N to allow
for the new residual to be rescheduled.
Note:. If DEF is
the selected adjustment method and the number of months to be deferred and
the processing month has been entered, LeasePak will defer and reschedule
the first payment if the last accrued to date is later than the processing
month. When the deferment is a SKIP payment, LeasePak will readjust the payment
schedule accordingly.
Additionally, the
existing extension fee assessment will be used for the deferment fee.
- FMV TERM
Up to 5 ranges of lease
terms may be used when estimating fair market value.
- FMV%
Enter or change the
percentage to be used when estimating the fair market value. For each term
entered, a corresponding percentage must be entered.
- AUTO
SUSPEND DAYS
Enter or change the number of days to suspend a delinquent lease. The
default value is 60 days.
This field will allow LeasePak to automatically suspend a lease that has become
delinquent by the total number of days entered above. All income and/or contra
income recognition will be suspended when the lease is delinquent past the
number of days entered. LeasePak will place the account in NHLD status. This
field will also work in conjunction with the RECOGNIZE
SUSP INCOME AT TIME OF PAYMENT switch.
- AUTO
UNSUSPEND DAYS
Enter or change the
number of days to unsuspend a delinquent lease. The default value is 30 days.
This field will allow LeasePak
to automatically unsuspend a delinquent lease once income earnings have been
re-instated. The activity status of the lease once unsuspended will be ANOR.
- ASSET
PERCENTAGE CALC METHOD (A/P)
This field is displayed
when the Asset
Percentage Calc Method (A/P/C) switch in the Miscellaneous Customization
option of the Custom General [U0712] update, is set to C. This switch allows
LeasePak to have an alternate percent of schedule calculation at the Portfolio
level. Exercise caution when using this option at this level for existing
leases, it may produce inaccurate data.
- Enter ‘A’ to calculate the
percent of schedule by Acquisition Cost.
- Enter ‘P’ to calculate the
percent of schedule by Payment Amount.
Note: LeasePak
allows for an alternate calculation for percent of schedule based on the weighted
share of the total payment amount. See EBV Payoff Method in the Calculations
Document of the Reference Guide
Note: LeasePak
allows the user to change the asset payment amount in Rebook [U0116] and the
percent of schedule used in the tax calculations, after the lease has been
booked when the Asset Percentage Calc Method (A/P) field is set to P.
This does not
affect the Asset Payment Amount field in Book Lease Update [U0101] and may
not be changed unless in Rebook [U0116].
Delinquency, Upfront Sales
Tax
This
screen is used to establish or change miscellaneous parameter information for
the portfolio.
- SESSION
UPDATE USED (Y/N)
Enter
Y if sessions are used for the portfolio. Sessions provide operational and balancing
control over transactions involving cash receipts, such as payments or new lease
bookings. If sessions are used, an operator may not process payments greater than
the amount assigned to his/her session. An associated session parameter, ASSIGN
CASH DISBURSEMENTS THROUGH SESSION (Y/N), exists under the New Lease Customizations
section. This allows control over cash disbursements (e.g., vendor payments, broker
payments, etc.) through the session. Refer to the Session
update [U0111] documentation for more information.
- GENERATE CASHIER’S CHECKS (Y/N)
Enter Y if LeasePak should
generate formatted checks in addition to the check register through the Cashier’s
Check Disbursal update [U0117]. Enter N if only a check register should be generated
(the actual checks are cut manually or by a separate division, such as an accounts
payable group).
- GENERAL
LEDGER INTERFACE USED (Y/N)
Enter
Y if a special G/L interface function should be executed as part of the End of
Day process. The General Ledger Interface module, executed through End of Day,
consists of 2 parts. The first creates a scratch file containing a summary of
daily debits and credits to each G/L account for each office. This is always performed.
The second part is executed only if this parameter is Y. It starts a command procedure
to perform additional processing.
TRANSFER
PAYMENT TRANSACTION TO HISTORICAL FILE (Y/N)
Enter Y if payment information on the Transaction (RTX) file is to be
transferred to the Historical Transaction (RHT) file by the Historical Payment/RTX
Cleanup update [U0451] during End of Month. If
N is entered, payment transaction information for previous months is no
longer available once End of Month is run. This means that the Account Payment
History report [R0909] reflects payments made in the current month and payment
reversals are only possible on these transactions. The purpose of entering
N is to reduce storage space occupied by historical information.
- TRACK LEASE LEVEL TRANSACTIONS
IN [U0301], [U0433]
LeasePak
has true lease level transactions which update the General Ledger by lease. This
field is informational only and should always be set to N.
- WARNING MESSAGE FOR PAYMENT
OF NON-DELINQUENT INVOICE (Y/N)
Enter
Y to display a warning message in the Payments update [U0102] informing the user
that the invoice number entered to be paid is not the most delinquent invoice
for the lease. This parameter does not restrict the user from applying a payment
to an invoice that is not the most delinquent.
- LEASE
FACTOR SWITCH (P/R)
Two
type of lease factors are calculated by LeasePak: payment and rental income. Enter
P if the lease factor should be calculated as a payment factor, R as a rental
income factor. Refer to Application Screen 4 [A4] of the Application update [U0801]
or for more information.
- DELINQUENCY
REPORT INTERACTIVE WATCH CODE OR GRACE PERIOD (W/G)
Enter
W if the lease’s watch code should be used to determine delinquency for delinquency
reports executed interactively. Enter G if the lease’s grace period should be
used.
- DELINQUENCY
REPORT END OF PERIOD WATCH CODE OR GRACE PERIOD (W/G)
Enter
W if the lease’s watch code should be used to determine delinquency for delinquency
reports executed from End of Period. Enter G if the lease’s grace period should
be used.
- PORTFOLIO
STATUS REPORT WATCH CODE OR GRACE PERIOD (W/G)
Enter
W if the lease’s watch code should be used to determine delinquency for the Portfolio
Status report [R0104]. Enter G if the lease’s grace period should be used.
- DISBURSE UPFRONT SALES TAX (Y/N)
Enter Y if LeasePak should
disburse upfront sales tax through End of Period Use Tax Disbursal [U0449]. Upfront
sales tax amounts will be disbursed when adding the asset through the Use Tax
Disbursal report [U0449].
- ALTERNATE
INSURANCE FOLLOW-UP REPORT (Y/N)
Enter
Y if LeasePak should generate an alternative Insurance Follow-up report [R0904].
The alternative report differs from the original in the following respects:
- lessee address
is not printed
- asset
serial number is replaced by the asset classification
Refer to the Insurance
Follow-up report [R0904] documentation for report samples and field descriptions.
- ALTERNATE
DELINQUENCY REPORT (Y/N)
Enter
Y if LeasePak should generate an alternate Delinquency report [R0601]. The alternate
report differs from the original in the following respects:
- lessee’s watch code is printed
- number
of times delinquent and number of days delinquent columns are moved to the far
right on the report
- maturity
date is not printed
- interest
due and assessment due amounts are not printed
- total
due to current (including amounts not yet delinquent) is printed
Refer to Delinquency
report [R0601] documentation for report samples and field descriptions.
- DELINQUENCY
CATEGORY BOUNDARIES
These
numbers control how aging and delinquency reports group outstanding receivables
into certain categories or "buckets" (e.g., 1-30 days delinquent, 31-
60 days delinquent, etc.). As well as setting the necessary parameters for default
de-securitization. Enter or change 6 delinquency category boundaries.
Each number must be greater than the previous number. For
example, enter 30, 60, and 90,120,180 to set up buckets of 1-30, 31-60, 61-90,
91-120, 121-180, and 181+.
- NUMBER
OF MONTHS TO WAIT BEFORE CLEANING UP LEASE LVL TRANSACTIONS
This
field is informational only. All lease level transactions are automatically updated
by lease in the General Ledger. Therefore, no cleanup is necessary.
- NUMBER
OF DAYS TO WAIT BEFORE CLEANING UP LEASE RECORDS
Enter
or change the number of days to wait before information on closed leases (e.g.,
Master Financial, Address, Demographic, etc.) is moved to historical lease file
and removed from active lease files. The historical lease file contains major
lease information components, such as financial numbers (original cost, residual,
payoff amount, gain/loss, etc.), original payment schedule, address information,
and dates (commencement, maturity, payoff, etc.). Refer to the Closed
Lease Cleanup [U0419] description in the End of Period [U04] documentation
for more information.
Original
lease information is required to reverse payoffs or terminations, so a sufficient
number of days should be entered to assure that needed reversals can be processed.
Available computer storage space should also be considered when setting this parameter.
If storage space is limited, a large number for this parameter would cause larger
than necessary data files and file access delays.
- NUMBER
OF MONTHS TO WAIT BEFORE CLEANING UP HISTORICAL PAYMENT RECORDS
Enter
or change the number of months before cleaning up the Payments Records of delinquent
leases that have been reported to the Credit
Bureau. TRW requires leases to be reported for at least 2 months. This
function is performed during End of Period.
Additionally, when Transfer Payment
Transactions to Historical File (Y/N) is set to Y, LeasePak along with lease/util
220 Historical RTX Clean-up, will allow the user to run the Historical
Payments/RTX Clean-up [U0451] interactively, up to the entered date of
this field. The RTX Clean-up update will run during end of month as scheduled.
Report Formats, Down Payment
is Informational Only
This
screen is used to select when page breaks occur in printing grand totals on reports.
For example, if only company key is marked Y, then pages will break after grand
totals for each company. This screen is also used to format how total lines for
different key levels are displayed, and for several other miscellaneous parameters
described below.
- GRAND
TOTAL PAGE BREAKS PORTFOLIO (Y/N)
Enter
Y to cause a page break between each portfolio’s grand totals. Enter N to prevent
page breaks.
- GRAND
TOTAL PAGE BREAKS COMPANY (Y/N)
Enter
Y to cause a page break between each company’s grand totals. Enter N to prevent
page breaks.
- GRAND
TOTAL PAGE BREAKS REGION (Y/N)
Enter
Y to cause a page break between each region’s grand totals. Enter N to prevent
page breaks.
- GRAND
TOTAL PAGE BREAKS CUSTOMER (Y/N)
Enter
Y to cause a page break between each customer’s grand totals. Enter N to prevent
page breaks.
- PRINT
HEADING ABOVE KEYS (Y/N)
Enter
Y if, prior to summarizing the lowest key level on a grand totals page, a heading
of all the higher keys that relate to this lower level key are to be printed.
This may prove useful if the lower level keys fill up the first page of the grand
totals, thus forcing the user to look at the next page before determining higher
key levels.
Enter
N if grand totals without these key headers are to be printed. This may be easier
to read.
For example,
selecting Y would cause grand totals to be printed as follows:
|
| |
| |
TOTAL
LEASES |
| PORTFOLIO:
1, COMPANY: 1, REGION: 1 |
| |
OFFICE |
: |
1 |
1034
|
| |
OFFICE |
: |
2 |
934
|
Selecting N would
cause the same grand totals page to be printed as follows:
|
| |
| |
TOTAL
LEASES |
| |
OFFICE |
: |
1 |
1034
|
| |
OFFICE |
: |
2 |
934
|
- PRINT
ROW TITLES OR NAMES (T/N)
Enter
T to print the titles PORTFOLIO, COMPANY, REGION, and OFFICE (or aliases established
for these terms) on the left hand side of reports. Enter N print the actual name
of each portfolio, company, region, and office on the left hand side of the report.
If N is selected, the name is truncated to fit in the available space of 6-10
characters, if necessary.
For
example, selecting T would cause the titles to be printed as follows:
|
| |
| |
AMOUNT
|
| |
OFFICE |
: |
2 |
120,993
|
Selecting N would
cause the names to be printed as follows:
|
| |
| |
AMOUNT
|
| |
OAKLAN |
: |
2 |
120,993
|
- INDENT
TOTALS (Y/N)
Enter Y
to print different key levels with indentation to aid legibility. This may limit
the space available for printing row names from a maximum of 10 characters to
6 characters, if the above PRINT ROW TITLES OR NAMES parameter is N.
Enter N to print key levels
without indentation. This may be preferred when the PRINT HEADING ABOVE KEYS parameter
is Y.
For example,
selecting Y would cause the grand total lines to be indented:
|
| |
| |
TOTAL
LEASES |
| |
SANTA
| :
| 1
| 1034
|
| |
SANTA
| :
| 2
| 934
|
| |
WEST COS
| :
| 1
| 1968
|
| |
MCCUE SYST
| :
| 1
| 1968
|
Selecting
N would cause the grand total lines to be printed without indentation:
|
| |
| |
TOTAL
LEASES |
| |
SANTA BARBA |
: |
1 |
1034
|
| |
SANTA FE |
: |
2 |
934
|
| |
WEST COST |
: |
1 |
1968
|
| |
MCCUE SYSTE |
: |
1 |
1968
|
- ALLOW PREPAYMENTS WITH OUTSTANDING
ASSESSMENTS (Y/ N)
This switch governs
the Payment and Enhanced Payment options of the Payment update [U0102]. Enter
N to present the oldest open invoice for payment on the Payment option, whatever
type of receivable is still open.
Enter Y to present the oldest
invoice with normal payment open on the Payment option. Warning messages alert
the user that older invoices exist with assessments still unpaid. If all normal
payments have been satisfied, LeasePak allows the user to apply cash as a
credit memo on the Payment or Enhanced Payment option, even with assessments
on the lease unpaid.
- ADD
COMMENT TO TRANSACTIONS (Y/N)
With the purchase of
the 1996 JULE
Fund module, the ADD COMMENT TO TRANSACTIONS switch is displayed on
the screen.
This switch allows the user
to enter COMMENTS within certain General Ledger updates, allowing the user
to create an audit trail for a specified lease. When the switch is set to
‘Y’ the user is allowed to enter a COMMENT in the following updates:
- Payments [U0102]
- General Ledger Adjustment
[U0121]
- IBL Principal Adjustment
[U0125]
The COMMENT entered in the above
updates is displayed in the following reports:
- Daily Transaction
Journal [R0405]
- Cash Receipts Journal
[R0411]
- Account Payment History
[R0909]
Note: The Payment
[U0102] update, allows the user to enter a comment regardless of the switch
settings.
- NOTE TYPE USED IN CREDIT APPROVAL
REPORT
The Credit
Approval [R0506] report can display comments taken from the notebook.
This parameter identifies the type of notes that will be picked up for the
[R0506]. Use Help for a list of valid note types.
- DEFAULT DISPLAY OF PAYMENT
AMOUNT
This switch governs
the Payment and Enhanced Payment options of the Payment update [U0102]. Enter
‘Y’ to display the default "TOTAL AMOUNT" due and the "AMT
TO APPLY" fields for the selected lease on the payment screens. Enter
‘N’ for the payment amount due not to default in the "TOTAL AMOUNT"
and the "AMT TO APPLY" fields of the payment screens. By setting
the switch to ‘N’, it will allow the user to manually enter the payment amount
remitted.
With the purchase of the
1996 JULE Fund
module, the DEFAULT DISPLAY OF PAYMENT AMOUNT switch is displayed on the screen.
- PRINCIPAL/PAYMENT
INTEREST WAIVER BANK CODE
This field allows the
user to enter the BANK CODE to which the assessment
waived will be paid.
The BANK CODE value must
be 1 or between 125-144. The Multiple Banks module must be purchased. If the
module is not purchased, this field will not be displayed.
- DOWN
PAYMENT IS INFORMATIONAL ONLY (Y/N)
This switch governs the Down Payment field to be informational only or
not.
When Y is entered, the dollar amount entered in the down payment field of
the Book
Lease [U0101] update, Rebook
[U0116] update or the Application
tabs [U0801], will not have an impact on yield calculations, invoices,
payments or G/L transactions.
The informational down
payment dollar amount entered will be displayed in the Lease
Inquiry [R0905] the Application
Inquiry [R0502] and the Model
Amortization [R0109].
When the Vehicle Finance
module is purchased, the Informational Down Payment amount entered will display
as the TOTAL DOWN PAYMENT in the R0905, R0502 and the R0109 reports. The vehicle
Trade-in information such as MAKE, MODEL, GROSS ALLOWANCE and CASH DOWN information
will appear on the reports as well.
- RECOGNIZE
SUSP INCOME AT TIME OF PAYMENT (Y/N)
This switch works in
conjunction with the Auto
Suspended Earning [U0439] update.
Enter Y for all suspense
income to be recognized at the time of payment. When Y is entered and an account
is in a suspended status all income and contra income will be recognized on
a cash basis as payments are applied.
Enter N for suspense income
not to be recognized at time of payment.
- DELINQUENCY
PERCENTAGE
This field allows the user to set up a specific delinquency percentage
at the Portfolio level, to calculate the principal, interest and sales tax
on a short payment.
The percentage entered will determine when an A/R record is considered delinquent
based upon the amount applied to the principal, interest and sales tax portions
of the record. If the amount applied meets the Delinquency Percentage entered,
then the A/R record will not be delinquent. When the amount applied does not
meet the Delinquency Percentage entered, the A/R record will be considered
delinquent.
When the Vehicle Finance module is purchased, the Delinquency Percentage entered
will affect how late charges are applied as well as, how the Delinquency Categories
entered will update the lease information.
Late Charges are applied
if the A/R record does not meet the percentages entered in the Delinquency
Percentage field and/or the SUPRESS
LATE FEE IF PAYMENT % fields entered in the Lease Form Code [U0721],when
the Vehicle Finance module is purchased.
- DELINQUENT PAYMENT INCLUDES
TAX
Enter Y for the delinquency
percentage, in the previous field, to calculate the principal, interest and
sales tax portion of the account receivable record. Enter N for the delinquency
percentage to be based on the principal and interest portion only.
Note: Late charge
methods PERC, PMAX, PMIN and FIX calculate and determine late charges on the
most current account receivable record. Once it has been determined that the
account receivable is delinquent and a late charge has been applied, LeasePak
will not calculate late charges on the same account receivable record.
Also: Late charge
methods OUTP, OUTP and PCON are the only late charge methods that take into
account all open account receivable records to determine the late charge.
And: The Delinquency
Percentage calculation fields do not support GF** late charge methods.
- DEALER REMITTANCE BANK CODE
Enter the Dealer Remittance
Bank Code. The default value is 126. The bank code entered will allow LeasePak
to track new IDC/IDR activities as well as any accounting between the dealer
and the lessor as well as provide a Dealer
Statement [U0426] report during End of Period.
-
CHANGE
DEPRECIATION AT TERM (Y/N)
This field allows the ability to change the depreciation method of assets
during Termination
and/or Auto Lease Extension and Lease
Extensions. Enter 'Y' to allow the depreciation to be modified. Additionally,
the Used Inventory
report, report B of the Off Lease Inventory [R1001] report, will display
the asset detail information.
Note: This field
is not accessible when the Vehicle module is purchased.
- PRINCIPAL
PAY DOWN (Y/N)
Enter Y for all overpayments
received on IBL accounts to be applied to Principal Paydown, if no account
receivable records are found. This enhancement works in conjunction with the
Cash Control [U0126] module and with
the IBL A or B BEHAVIOR
switch in Custom General [U0712] set to A.
Enter N for overpayments
received to be applied to Suspense, if no account receivable records are found.
Note: If the Write
Down amount is greater than the Outstanding Principal, the Outstanding Principal
will be paid and the remaining amount will be used to create a Suspense item.
The default value is N.
Note: Selecting
N, the default value, is standard LeasePak functionality. LeasePak will create
a Suspense item for extra money received on IBL accounts.
- PRORATE
INC, IDC/IDR, DEPR (Y/N)
This field works in conjunction
with the Prorate
Income, IDC and Book Depreciation for Calendar Month module, a separately
purchased module. Additionally, this field requires the Accrual
Deferral Days field to be set to '0' and the Change
Depreciation at Term (Y/N) field to be set to 'N' for this field to be
set to 'Y'. The default value of this field is 'N'.
Enter 'Y' to prorate finance
or operating income, IDC/IDR and Book Depreciation based on the number of
days the lease or asset is active for a specific month.
Note: It is recommenced
that this switch be set to 'Y' only when adding a new Portfolio or if there
are no active leases on the Portfolio. This allows for Accrual and Accrual
Reversals to process correctly.
- VERIFIY
SUM OF PAYMENTS (Y/N)
This field verifies
that the Total Amount entered in the Payment Schedule and the Sum of Payments
fields are equal in value when a lease and/or application is being booked.
An error message will be displayed and the lease will not be processed until
the Sum of Payments match. Enter Y to verify the Sum of Payments. When N is
entered, LeasePak will not perform this edit check.
- IRR
USE IN FASB 13 TEST (A/B/C)
This field allows
the user to select the rate to be used as the implicit rate in performing
the FASB 13, 90% present value test. The FASB 13 test is used to determine
if the contract in Applications
[U0801], is a Finance or Operating type lease. Select the rate to be used,
the default is 'A'.
- A = Yield
- B = IRR with Residual
- C = IRR without Residual
Modules
Customizations
Module
Switches
This screen is used to
establish or change parameters associated with the Loan Accounting, Lease Discounting,
Property Tax Description, Capital Cost Allowance, ACH and Lease Extensions modules.
These are optional modules
that may be purchased separately and added on to the LeasePak UX base system.
This screen appears only if one or more of the optional modules is purchased.
Field Descriptions
- TARGET
PRINCIPAL BALANCES USED (Y/N)
If
the Loan Accounting module is used, enter Y if target principal balances should
be established for interest bearing loans. Otherwise, enter N. Target principal
balances are used by the Cycle Accrual update to compare the net outstanding balance
(after the accrual) with a target principal level. If the net outstanding balance
is greater than the target principal level, a message is written to the Accrual
Message report [U0301D].
This
field is accessible only if the Loan Accounting module has been purchased.
- LEASE
DISCOUNTING USED (Y/N)
Enter
Y if the Lease Discounting module is used for this portfolio; otherwise, enter
N.
Note:
Bowfront VAT is not compatible with Lease Discounting. If the UPFRONT TAX switch
is Y on the New Lease screen of [U0212], the LEASE DISCOUNTING USED switch must
be N.
If
Lease Discounting is used, then leases associated with the portfolio will not
be allowed in the Suspended Earnings [U0115] option. If leases in the portfolio
are suspended, LeasePak will not allow the switch to be set to Y. All General
Ledger names associated with suspended transactions should be modified to names
more suitable for Lease Discounting through Office G/L Change update [U0716].
The following is a list of general ledger names for suspended transactions and
suggested names for lease discounting:
| SUSPENDED
G/L NAMES | SUGGESTED
LEASE DISCOUNTING G/ L NAMES |
|
SUSPENDED RECEIVABLE (INCOME)
| DISCOUNTED
PAYABLE (INCOME) |
| SUSPENDED
RECEIVABLE (PRINCIPAL) | DISCOUNTED
PAYABLE (PRINCIPAL) |
| SUSPENDED
INCOME RECEIVABLE (UNBILLED) | DISCOUNTED
INCOME PAYABLE (UNBILLED) |
|
SUSPENDED INCOME ACCRUED
| DISCOUNTED
INCOME ACCRUED |
This
field is accessible only if the Lease Discounting module has been purchased.
- INVESTOR REQUIRED FOR LEASE
DISCOUNTING (Y/N)
Enter
Y if INVESTOR is an input-required field in the Lease Discounting module for this
portfolio; otherwise, enter N.
This
field is accessible only if the Lease Discounting module has been purchased and
lease discounting is used in the portfolio.
- NET
COST CALC METHOD (A/C)
The
Net Cost of the discounted lease may be calculated in two ways. If an A is entered
the formula is as follows: Original Acq Cost - Down Pymt - Earned Income. When
this switch is set to C, the calculation will be: Contract Rec - Unearned Income.
See the Lease Discounting update [U0123]
for more information on this calculation.
This
field is accessible only if the Lease Discounting module has been purchased and
lease discounting is used in the portfolio.
- PROPERTY
TAX DESCRIPTION CODE (Y/N)
Enter
Y if the Property Tax Description code is used for this portfolio; otherwise,
enter N.
This field
is accessible only if Property Tax Description module has been purchased.
- ESTIMATED PROPERTY TAX DESCRIPTION
CODE (Y/N)
Enter Y if
the Estimated Property Tax Description code is used for this portfolio; otherwise,
enter N. This custom code is set up to track estimated property tax in the same
manner as the actual property tax.
This
custom code is renamed from the Federal Highway Use Tax (FHUT) assessment code.
If the estimated property tax description code is used, FHUT will not be used.
This field is accessible
only if Property Tax Description module has been purchased.
- CAPITAL COST ALLOWANCE USED
(Y/N)
Enter Y if the
Capital Cost Allowance module is used for this portfolio; otherwise, enter N.
If N is entered, the
following 3 values for the Capital Cost Allowance module will be cleared and have
to be re-entered if Capital Cost Allowance is later used. A change from Y to N
is allowed only if there are no RQM (CCA Master Asset) or RQS (CCA Notional Loan)
records attached to the portfolio.
This
field is accessible only if the Capital Cost Allowance module is purchased.
- FINANCIAL INSTITUTION CORRESPONDING
TO THE CANADA BONDS
Enter
or change, if desired, the financial institution corresponding to Canada Bonds.
The financial institution must be established through the Financial Institution
Name update [U0708].
When
a CCA lease is booked, the financial institution is used to look up the effective
prescribed rate stored in the Base Rate table [U0705].
This
field is not accessible if the Capital Cost Allowance module is not purchased
or not used in this portfolio.
- PRESCRIBED
RATE ADD-ON PERCENTAGE
Enter
or change, the add-on percentage to the prescribed rate.
The
percentage entered is added to the effective prescribed rate on which the notional
loan interest rate is calculated for a CCA lease.
This
field is not accessible if the Capital Cost Allowance module is not purchased
or not used in this portfolio.
- DEFAULT
TAX ENTITY
Enter or
change, the default tax entity for the portfolio. Press HELP for a list of valid
tax entities. The tax entity is established through the Tax Entity Update [U0224].
The value of this field is used as the default tax entity when an asset associated
with this portfolio is added to the system. However, if a default tax entity is
established at a lower level, such as the company, region, or office levels, the
default tax entity defined for the lower level is used instead.
This
field is not accessible if the Capital Cost Allowance module is not purchased
or not used in this portfolio.
- ACH
PRENOTE USED
Enter Y
if the PAP/ACH module is purchased and Prenotifications are used. Otherwise, enter
N.
- PRENOTE
CCD
In the U.S. PAP/ACH
payments are coded CCD, as opposed to PPD. Enter Y if Prenotifications should
be used to CCD Standard Entry Class Code. Otherwise, enter N.
- LEASE
EXTENSION INCOME BASIS (A/C)
Enter A for Accrual or C for Cash. This value will be used as the default
on Lease Extension [U0108]. It may be overridden for an individual lease,
if desired.
With the A-accrual option, as lease payments are billed and accrued after
the lease has been extended, unguaranteed residual is reduced to zero, then
residual income is recognized.
When this field is set to A, LeasePak will allow Lease
Extensions [U0108], on leases with the OPR methods, to recognize income
on a cash basis. When the OPR is entered in the Extension Method field.
With the cash option, residual
reduction and residual income are not recognized until cash has actually been
received and applied to an open invoice.
Automatic Suspense/Payoff,
Payment Reversals
This
screen will appear when the Cash Control and Multiple Bank modules are purchased.This
screen is used to establish or change parameters associated with the Cash
Control module for Payments and the Batch
Number Payment Reversals update, as well as the Cash
Control Payment History [R0926] report.
The Custom Codes update [U0722] will require
Reversal by Reason Codes to begin with N,S, T, U, or O.
Field
Descriptions
- DEFAULT
C/R/O FOR AUTOMATIC SUSPENSE
Enter
the Company, Region, Office for automatic suspense. Use Help to display a list
of C/R/O’s. This field is input required.
- DEFAULT
BANK FOR AUTOMATIC SUSPENSE
Enter
the default bank code for automatic suspense. Use Help to display a list of valid
bank codes. This field is input required.
- AUTOMATIC
PAYOFF LOSS TOLERANCE
Enter
the payoff loss tolerance amount for the P/C/R/O.
- AUTOMATIC
PAYOFF GAIN TOLERANCE
Enter
the payoff gain tolerance for the P/C/R/O.
- REVERSAL
CATEGORY
This column
is displays the reversal categories for payment reversals. This field is view
only.
- DESCRIPTION
This column displays the
description for the reversal categories. These are view only.
- BANK CODE
Enter
the bank code that applies to each reversal category. Use HELP for a list of valid
Bank Codes. This is a required field.
- DISPLAY
IN R0926 Y/N
Enter ‘Y’
to view each reversal category in the Cash
Control Payment History [R0926] report. This will allow the user to view
any reversal categories associated with the lease, as well as provide a trace
reference code.
When
‘N’ is selected, LeasePak will hide payment and payment reversal transactions
on the Cash Control Payment History report.
New
Lease Customizations
Accounting
Switches
This screen is used to
establish or change parameters used by the New Lease update [U0101], such as accounting
methods, IDC calculation methods, etc.
- LEASE
DATE NOT AFTER OTHER DATES (Y/N)
The
Book Lease option of the New Lease update [U0101] allows entry of a lease date
later than the commencement date only if this parameter is set to N.
- BACK DATED NEW LEASES
APPEAR ON DELINQUENCY REPORT (Y/N)
Enter
Y if back-dated leases with outstanding invoices, i.e., new leases with past commencement
dates, should appear on the delinquency report and be considered delinquent by
the Collections module. Otherwise, enter N.
Back-dated
leases may immediately appear to be delinquent because payments with past due
dates are established as accounts receivables by the booking process. If setting
is N, then such leases do not appear on the delinquency reports or in Collections
unless they have gone through their first income accrual and late charge process
and are still delinquent.
- ASSIGN
CASH DISBURSEMENTS THROUGH SESSION (Y/N)
Enter
Y if cash is to be disbursed through sessions. Otherwise, enter N. For this parameter
to take effect, the SESSION UPDATE USED parameter on the third screen of the Miscellaneous
Customizations option of the Portfolio update [U0212] must be set to Y.
Sessions provide balancing control
over transactions involving cash disbursement, such as vendor payments, broker
payments, etc. If sessions are used, an operator may not process payments greater
than the amount assigned to that operator’s session. Refer to the Session
update [U0111] for more information.
- CLIENT
RECEIVES ADVANCE MONEY (Y/N)
This
parameter is used by the Book Lease option of the New Lease update [U0101] as
the default for the screen which inquires whether advance money has been received
at commencement. Advance money includes security deposit, advance payments, advance
payment tax, down payment, down payment tax, interim payment, and interim payment
tax if the lease is accrued in advance.
- CLIENT
RECEIVES ADVANCE MONEY (R/I/A)
When the Partial
Deductions module is purchased, this parameter is used by the AMOUNTS
DUE AT COMMENCEMENT screen in the Book Lease option of the New Lease update
[U0101] as the default for the screen which inquires whether advance money
has been received at commencement. Advance money includes security deposit,
advance payments, advance payment tax, down payment, down payment tax, interim
payment, and interim payment tax if the lease is accrued in advance.
Enter
the one of the following selections:
- R
= Advanced Funds Are Received
- I
= Advanced Funds Are Invoiced
- A
= Advanced Funds Are Deducted from Accounts Payable
- FUNDING
INTEREST (Y/N)
Enter Y if funding interest is calculated at lease commencement.
Otherwise, enter N. Funding interest represents interest due or payable because
of early or late disbursement of funds, either before or after the lease commencement
date. It may increase or decrease accounts payable for asset(s) under the lease.
Refer to the FUNDING
INT/DAYS field in the Book Lease option of the New Lease update [U0101] for
more information.
- SECURITY
DEPOSIT AFFECTS YIELD (Y/N)
This
field is not active.
- BOOK
ITC ACCRUE (Y/N)
Enter
Y if Investment Tax Credit income should be accrued for book purposes. Otherwise,
enter N.
This parameter
should not be changed if an active lease accruing book ITC income exists in the
portfolio. Otherwise, problems resulting from data inconsistencies may occur.
A warning message is displayed if the parameter is changed and this situation
exists. A conversion of the General Ledger and data may be needed to change this
parameter.
- INTERIM
RENT (Y/N)
Enter Y if
interim rent payment is considered a one-time income item; the entire payment
is recognized as income in the first month of the lease. Enter N if interim rent
is considered part of minimum lease payments receivable; income from interim rent
is amortized over the life of the lease.
This
parameter should not be changed if an active lease with an interim rent payment
exists in the portfolio; problems resulting from data inconsistencies may occur.
A warning message is displayed if the parameter is changed and this situation
exists. A conversion of the General Ledger and data may be needed to change this
parameter.
- CALCULATE
IDC W/O BROKER FEES OR BAD DEBT (Y/N)
With
this parameter set to N, IDC is comprised of the documentation fee, the bad debt
amount, and broker fees (or a calculated amount based on the parameters set on
the second screen of this update). Enter Y if the initial direct cost amount should
include only the documentation fee or, if the documentation fee is zero, only
the calculated initial direct cost amount. The setting of this parameter supersedes
the setting of the BAD DEBT INCLUDED IN INITIAL DIRECT COST parameter.
Note: The BOOK IDC
switch will not calculate IDC for AOVE/ROVE and VV accrual methods. The default
IDC will consist of BROKER and/or DOC fees. If no BROKER or DOC fees are used,
the Book IDC will be zero.
- BAD
DEBT INCLUDED IN INITIAL DIRECT COST (Y/N)
Enter
Y if the bad debt amount should be included in initial direct costs. Also, if
IDC is recognized as income in the first month of the lease (INITIAL DIRECT COST
EXCLUDED FROM YIELD = N), this amount of bad debt is recognized as income in the
first month. This parameter is superseded by CALCULATE IDC W/O BROKER FEES OR
BAD DEBT. This parameter should not be changed if an active lease with bad debt
exists in the portfolio; problems from data inconsistencies may occur. A warning
message is displayed if the parameter is changed and this situation exists. A
conversion of the General Ledger and data may be needed in order to change this
parameter.
If IDC is included in the yield
calculation, the yield of the lease is 10.66% (starting capitalized cost of $10,300.00).
This assumes that the cost for IDC is recognized immediately.
If
IDC is excluded from the yield calculation, the yield of the lease is 12.00% (starting
capitalized cost of $10,000.00). This assumes that the cost for IDC is not recognized
immediately, but rather should be spread over the life of the lease. Effectively,
the higher yield in the second case reflects the amortization of IDC over the
life of the lease.
This
parameter should not be changed if an active lease with IDC exists in the portfolio;.data
inconsistencies may occur. A warning message is displayed if the parameter is
changed and this situation exists.
- ACCRETE
RESIDUAL (Y/N)
Enter
Y if residual income is to be separated from lessor income for accrual purposes.
Enter N if residual income is not separated from lessor income.
- VENDR
PARTICIPATES IN INCOME (Y/N)
Enter
Y if the vendor participates in a portion of the income earnings of the lease.
Enter N if the vendor participates in a percentage of the lease payment. Participation
in the lease payment is restricted to precomputed interest type leases (e.g.,
level yield, rule of 12/78ths, etc.).
This
parameter should not be changed if an active lease with vendor participation exists
in the portfolio; problems resulting from data inconsistencies may occur. A warning
message is displayed if the parameter is changed and this situation exists.
- 1ST MONTH’S INTEREST IN IDC
(Y/N)
Enter Y if the
first month’s interest is to be included in the IDC calculation. The first month’s
interest is calculated based on the number of days between the lease date and
the commencement date.
- INCLUDE
IDC1-2/IDR1-3 IN IRR/NPV (Y/N)
Enter
Y to include the IDC/IDR in calculating the IRR and NPV during the booking of
a lease in Book Lease
[U0101], Application
Tracking [U0801] or in Rebook
[U0116].
When
IDC/IDR are included in the calculating the IRR and NPV, the calculation will
include IDC1-IDC2 and IDR1-IDR4 as part of the cash flow. IDC1, Insurance Premium
is automatically calculated as the sum of the Insurance Premium of all assets
tied to the lease. IDR1 will also be automatically calculated as the percentage
of the Insurance Premium. The IRR will excluding the residual amount, will also
be calculated and stored in the RLS table.
IRR
and NPV will not be calculated for month-to-month or operating type leases. Leases
with xVLx, xVTx, xIXx and xIFx accrual methods will not calculate the IRR and
NPV as well. Additionally, the NPV will only be calculated if the Cost of Fund
Rate is greater than zero.
Note:
This enhancement does not apply to the Vehicle Finance module. This field will
only appear as part of the New Lease Customization when the Vehicle Finance module
is not purchased.
- INCLUDE
OPEN COMM (IDR4) IN IRR/NPV (Y/N)
This
field allows the user to select whether to include the Open Commission in the
IRR/NPV calculation. This field works in conjunction with the Include IDC/ IDR
in IRR/NPV field above.
- CALCULATE
ASSET YIELD (Y/N)
Enter
Y if a yield is to be calculated at the asset level. For an asset-level yield
to be calculated, a payment amount must be entered for the asset through the second
screen of the Add Asset option of the New Leases update [U0101]. Therefore, TRACK
AUX NON-VEHICLE INFO (Y/N) and/or TRACK AUX VEHICLE INFO (Y/N) parameters must
be set to Y.
- ALLOW
TAXABLE ASSET ON IBL (Y/N)
Enter
Y if assets booked using the interest bearing loan accrual methods may charge
sales/use tax. Enter N to force sales/use tax to be NONR for all assets on IBLs.
If the IBL Principal Adjustment module [U0125] is to be used, this switch should
be set to N, since taxes cannot be properly prorated for adjustments made midway
in an accrual period.
- TRACK
AUX NON-VEHICLE INFO (Y/N)
Enter
Y if auxiliary information is to be tracked for non-vehicle assets (class begins
with an E). If Y is entered, an additional screen appears in the Add Asset option
of the New Leases update [U0101] and the Asset update [U0210] to allow entry or
modification of this information. Refer to the AUXILIARY
INFORMATION (NON-VEHICLE) screen of Add Asset [U0101] for more information
on what non-vehicle auxiliary information is tracked.
- TRACK
AUTOMOBILE OPTIONS (Y/N)
Enter
Y if automobile options should be tracked for all assets with an automobile classification
(class begins with V). If automobile options are tracked, several extra screens
appear in both the Add Asset option of the New Lease update [U0101] and the Asset
update [U0210].
- TRACK
AUX VEHICLE INFO (Y/N)
Enter
Y if auxiliary information is to be tracked for vehicle assets. If Y is entered,
an additional screen appears in the Add Asset option of the New Leases update
[U0101] and the Asset update [U0210]. This screen appears in addition to the screens
that appear when the TRACK AUTOMOBILE OPTIONS parameter is set to Y. Refer to
the AUXILIARY INFORMATION
(VEHICLE) screen of Add Asset [U0101] for more information on auxiliary vehicle
information.
- UPFRONT
VALUE ADDED TAX (Y/N)
Two
methods exist for billing value added tax (VAT). It may be charged on periodic
rentals just like other sales/use tax, or it may instead be charged both upfront
on the acquisition cost and during the lease term on only the interest portion
of payments. If the latter method is used, a manual assessment or one- time charge
must be set up to bill the VAT.
Upfront
VAT is supported for only Lessor Accrual Type code of xVVx or xOVx.
When
the switch is set to Y, and the Use Tax Code for the asset is NOPF or NOUT, upfront
VAT is calculated as a percentage of the asset’s acquisition cost and charged
at lease commencement. In addition, VAT is charged on the interest portion of
each periodic payment; no VAT is charged on principal. Principal includes down
payment and all advance payments at lease booking, but not interim rent, which
is considered interest.
Note:
Upfront VAT is not compatible with Lease Discounting, nor with Disburse Upfront
Tax. If the UPFRONT TAX switch is Y, the LEASE DISCOUNTING USED switch on the
Modules Customization option of the Portfolio update [U0212] must be N, and Disburse
Upfront Tax cannot be implemented.
- CK
CREDIT BAL ON ASSET ADD (Y/N)
This
field is not supported in LeasePak
UX.
- CLC
DAYS DELINQ 30/360 (Y/N)
Enter
Y if, instead of using actual calendar days to determine delinquency, LeasePak
should assume all months are 30 days and all years are 360 days. Delinquency reports
which categorize by number of days delinquent, for example, will consider all
accounts which have missed two monthly payments in the 60 day category, regardless
of the number of calendar days in those two months.
- LEASE
DATE AFFECTS YIELD (Y/N)
Enter
Y if the first accrual period should begin on the lease date, instead of the usual
commencement date. The intention is that the lease date should be before the commencement
date, creating a longer initial accrual period and a reduced yield. This parameter
affects 2 only types of transactions:
- level
yield leases billed monthly in arrears (accrual method RAPR)
- interest
bearing loans at a fixed rate, principal and interest, billed in arrears (RAXx)
This parameter applies only if
the 1994 JULE Fund was purchased.
- APPLY
PAYMENT TO NOTE Y/N
This
field allows payments to be applied to pending Notes. Select Y or N for payments
to be applied.
- DEFAULT
DESECURTIZE PORTFOLIO
This
field defaults the current Portfolio number for automatic de-securitization.
LeasePak allows for delinquent
leases to be moved from their original Company, Region, Office to another. LeasePak
will automatically change keys on delinquent leases, based on how the lease was
set up during the time of booking. The Book Lease option in the New Lease update
[U0101], allows the option to Securitize the lease during the booking process
with the SECURITIZE
field. If the Securitized lease becomes delinquent, the End of Period process
will create a batch input file for Batch Change Key to select delinquent leases
marked for de-securitization. This process automatically moves the delinquent
leases to the default Company, Region, Office selected.
Note: The DEFAULT
DESECURTIZE PORTFOLIO field, automatically defaults the number of the Portfolio
selected to add or change in the first screen of the Portfolio update [U0212].
- DEFAULT
DESECURTIZE COMPANY
Enter
the default Company to which all Securitized leases will default if delinquent.
- DEFAULT DESECURTIZE REGION
Enter the default Region
to which all Securitized leases will default if delinquent.
- DEFAULT DESECURTIZE OFFICE
Enter the default Office
to which all Securitized leases will default if delinquent.
- DEFAULT DESECURTIZE BANK CODE
Enter the default desecuritization
Bank Code.
- APPLY
PAYMENT TO NOTE (Y/N)
If
both the Notes Payable and the Multiple Banks modules are purchased, this parameter
controls how payments are applied to notes payable which are linked to leases.
Enter Y if payments to a lease applied through the Payment update [U0102] or through
Batch Payments [U0415] should automatically be applied to a note payable attached
to that lease. Enter N if payments to a lease have no effect on the note attached
to the lease.
IDC Method, Relative Dates
This
screen is used to change the edit checking ranges that are in effect during the
Book Lease option of the New Lease update [U0101].
Items
may be left blank if edit checking is not required. For instance, if there is
a minimum but no maximum documentation fee, enter the minimum fee and leave the
maximum fee blank. LeasePak only checks that the documentation fee entered is
greater than or equal to the minimum fee specified.
- IDC
ACCOUNTING METHOD
Valid IDC accounting
method codes are:
- INCM Income
recognition method (FAS 13) IDC is charged against income at lease
commencement, and a portion of unearned income equal to IDC is recognized
as income in the same period.
- AMOR Amortization
method (FAS 91) IDC is amortized separately over the life of the lease.
- AMR2 Amortization
method allows the IDC to be amortized Income over the lease term.
For leases with *PX* type accrual
methods, the AMR2 IDC method for IDC/IDR
will amortization the Income over the Lease Term. The Unearned Income
will be equal to the Total Contract Receivable - Principal.
For leases with *IF* , floating rate (Principal + Interest) Interest Bearing;
the IDC/IDR will amortize will be modified to use income over lease term.
Earned IDC/IDR will be calculated as following:
Unearned IDC/IDR amount *(Earned Income/Remaining Estimated
Unearned Income)
- INITIAL DIRECT COST METHOD
Valid initial direct
cost method codes are:
- CLA IDC is calculated
differently depending on the classification of the asset. A percentage is
used if the asset is an equipment classification type (first character of
the classification is E) and a fixed amount is used if the asset is a vehicle
classification type (first character of the classification is V).
- FIX The initial
direct cost is always a fixed amount (the INITIAL DIRECT COST AMOUNT).
- PER The initial
direct cost is always a percentage (the INITIAL DIRECT COST%) of the acquisition
cost, contract receivable, or original unearned, as specified by the INITIAL
DIRECT COST AMOUNT code.
Refer to the LeasePak Calculations
document for more information about initial
direct costs.
- INITIAL DIRECT COST AMOUNT
Indicates the amount
LeasePak should use to calculate IDC if a percentage calculation is required.
Valid IDC amount codes are:
- COST IDC is
calculated using total lease contract receivable.
- ORG IDC is calculated
using original lease acquisition cost.
- UE IDC is calculated
using original lease unearned income amount.
- INITIAL DIRECT COST% (EQUIPMENT)
Enter or change the
percentage of unearned, contract receivable, or original acquisition cost
that may be recorded as IDC by the Book Lease option of the New Lease update
[U0101]. This percentage is not applied if a documentation fee is entered
for the lease. If the percentage is 5%, then enter _5.00000, not ___.05000.
- INITIAL DIRECT COST AMOUNT
(AUTO)
Enter or change the
amount that may be considered IDC by the Book Lease option of the New Lease
update [U0101], if IDC is a flat amount rather than a percentage. This amount
is not applied if a documentation fee is entered for the lease.
- INSURANCE FEE PERCENTAGE
Enter the percentage
of INSURANCE PREMIUM which will be recorded as an INSURANCE FEE receivable
for new leases. The receivable does not appear on invoices. When payment is
received, satisfy the receivable with a General Ledger Adjustment [U0121]
to credit Insurance Fee and debit cash.
- MINIMUM ORIGINAL ACQUISITION
COST
Enter the minimum original
acquisition cost. If an amount is entered, it is used as an edit check in
the Add Asset option of the New Lease update [U0101].
- MAXIMUM ORIGINAL ACQUISITION
COST
Enter the maximum original
acquisition cost. If an amount is entered, it is used as an edit check in
the Add Asset option of the New Lease update [U0101].
- MINIMUM DOCUMENTATION FEE
Enter the minimum documentation
fee. If an amount is entered, it is used as an edit check in the Book Lease
option of the New Lease update [U0101].
- MAXIMUM DOCUMENTATION FEE
Enter the maximum documentation
fee. If an amount is entered, it is used as an edit check in the Book Lease
option of the New Lease update [U0101].
- TOLERANCE
Lease payment amounts
that are entered in the Book Lease option of the New Lease update [U0101]
can be verified by LeasePak (e.g., for level yield transactions, lease payment
amount at lease level equals payment amounts for assets on lease). The amounts
entered by the operator must agree with LeasePak’s calculations within this
tolerance range. If this amount is zero, then the amount input by the operator
must agree exactly with LeasePak’s calculated amount, otherwise the lease
may not be booked.
- INS
FINANCE Y/N
This field works in
conjunction with Pre-Paid
Insurance, allowing LeasePak to track insurance and finance charges
through the life of the lease. Enter Y for LeasePak to track Insurance Finance.
Note: Verify that
Insurance Percentage and Insurance Bank fields are populated accordingly in
the Vendor [U0201] update.
- INSURANCE POLICY FEE
When the Insurance Finance
switch is set to Y, the user may populate this field with the Insurance Policy
Fee. The default value is $75.00.
- MAXIMUM NUMBER OF DAYS BEFORE
CURRENT DATE FOR LEASE DATE
Enter the maximum number
of days before the current date to which a lease date may be set. If a number
is entered, it is used as an edit check in the Book Lease option of the New
Lease update [U0101].
- MAXIMUM NUMBER OF DAYS AFTER
CURRENT DATE FOR LEASE DATE
Enter the maximum number
of days after the current date to which a lease date may be set. If a number
is entered, it is used as an edit check in the Book Lease option of the New
Lease update [U0101].
- MAXIMUM NUMBER OF DAYS BEFORE
CURRENT DATE FOR DISBURSEMENT DATE
Enter the maximum number
of days before the current date to which a disbursement date may be set. If
a number is entered, it is used as an edit check in the Book Lease option
of the New Lease update [U0101].
- MAXIMUM NUMBER OF DAYS AFTER
CURRENT DATE FOR DISBURSEMENT DATE
Enter the maximum number
of days after the current date to which a disbursement date may be set. If
a number is entered, it is used as an edit check in the Book Lease option
of the New Lease update [U0101].
- MAXIMUM NUMBER OF DAYS AFTER
LEASE DATE FOR COMMENCEMENT DATE
Enter the maximum number
of days after the lease date to which the commencement date may be set. If
a number is entered, it is used as an edit check in the Book Lease option
of the New Lease update [U0101].
Term, Rate, Factor Ranges
This
screen is used to change percentages, rates, and other ranges that control LeasePak’s
edit checking during the Book Lease option of the New Lease update [U0101]. Items
may be left blank if edit checking is not required. For instance, if there is
a minimum lease term but no maximum, enter the minimum and leave the maximum blank.
Minimum and maximum income rates
need only be entered for the types of accruals that may be performed (lease, vendor,
investor) and for the accrual methods utilized.
- MINIMUM
LEASE TERM
Enter the
minimum lease term. If a number is entered, it is used as an edit check in the
Book Lease option of the New Lease update [U0101].
- MAXIMUM
LEASE TERM
Enter the
maximum lease term. If a number is entered, it is used as an edit check in the
Book Lease option of the New Lease update [U0101].
- MINIMUM
DISCOUNT RATE
Enter
the minimum discount rate. This rate is used primarily in the payoff calculation
for the net present value of the remaining lease payments. If the minimum rate
is 10%, then enter 10.00000, not ___.10000.
- MAXIMUM
DISCOUNT RATE
Enter
the maximum discount rate. This rate is used primarily in the payoff calculation
for the net present value of the remaining lease payments. If the maximum rate
is 10%, then enter 10.00000, not ___.10000.
- FLOATING
RATE FLOOR
Enter the
default for the minimum interest rate that may be used for floating rate leases.
If the base plus add-on interest rate falls below the floating rate floor, the
floor is used instead. This value may be changed for each lease. It should be
less than the ceiling, if the ceiling is non-zero.
- FLOATING
RATE CEILING
Enter the
default for the maximum interest rate that may be used for floating rate leases.
If the base plus add-on interest rate exceeds the floating rate ceiling, the ceiling
is used instead. This value may be changed for each lease. If there is no ceiling,
enter zero (0). If non-zero, the ceiling should be greater than the floor.
- MINIMUM LEASE
Enter
the minimum lease rates for level-yield, rule of 12/78ths, straight line, simple,
and/or floating rate leases. The lease rate is the total lease rate (including
any vendor or investor participation). These rates are used as an edit check in
the Book Lease option of the New Lease update [U0101]. Enter rates only for the
types of accruals that are performed. For instance, if straight line interest
accrual is not used, do not enter rates for that type.
- MAXIMUM
LEASE
Enter the maximum
lease rates for level yield, rule of 12/78ths, straight line, simple, and/or floating
rate leases. These rates are used as an edit check in the Book Lease option of
the New Lease update [U0101].
- MINIMUM
VENDOR RATE
Enter the
minimum vendor rates for level yield, rule of 12/78ths, straight line, simple,
and/or floating rate leases. The vendor rate is the participating vendor’s portion
of the lease rate. These rates are used as an edit check in the Book Lease option
of the New Lease update [U0101].
- MAXIMUM
VENDOR RATE
Enter the
maximum vendor rates for level yield, rule of 12/78ths, straight line, simple,
and/or floating rate leases. These rates are used as an edit check in the Book
Lease option of the New Lease update [U0101].
- MINIMUM
INVESTOR RATE
Enter
the minimum investor rates for level yield, rule of 12/78ths, straight line, simple,
and/or floating rate leases. The investor rate is the participating investor’s
portion of the lease rate. These rates are used as an edit check in the Book Lease
option of the New Lease update [U0101].
- MAXIMUM
INVESTOR RATE
Enter
the maximum investor rates for level yield, rule of 12/78ths, straight line, simple,
and/or floating rate leases. These rates are used as an edit check in the Book
Lease option of the New Lease update [U0101].
PAP/ACH
Control File
This screen is used to establish
or change PAP/ACH Control File (RAC)
information for the portfolio. Refer to Preauthorized
Payments [U0304] section for complete information on PAP/ACH.
The PAP/ACH account information
is entered that the Lessee [U0203] level.
- BANK
FILE LAYOUT TYPE
Enter
the code for the layout used to set up output files for the bank. Use Help for
a list of valid bank file layout types.
- BANK
FILE CHARACTER CODE
Enter
the character format used in the output file. In the U.S., ASCII is used. In Canada
it varies by processing bank. For hardware which automatically converts ASCII
to EBCDIC, set this field to ASCII. The default value is ASCII. Use Help for a
list of valid bank file character codes.
- PAYMENT
TRANSACTION CODE
Enter
the alphabetic code identifying the standard entry class code for the batch the
bank will process. For the Canadian PAP system, this field represents the transaction
type. Use Help for a list of valid payment transaction codes.
Note: Only one Transaction
code is allowed per portfolio. It will appear on all appropriate records.
- CURRENCY TYPE CODE
Enter
the currency type for the debits. Currently, no processing banks can debit in
other than their native currency. Use Help for a list of valid currency type codes.
- PAP/ACH CURRENT PAYMENT ONLY
Enter Y or O to attempt
to collect the current amount due only. If O is chosen, current amount due is
applied to the oldest invoice unpaid. Enter N to attempt to collect all outstanding
amounts. N All
outstanding amounts will be processed by PAP/ACH and applied through batch payments
by lease. This method processes oldest to newest. Overpayments automatically create
a credit memo.
Y Only
the current (newest) invoice will be processed. The amount will be applied by
batch payments by invoice (not by lease). This method requires an exact match
on invoice number. Any overpayment or missing invoice will result in an unprocessed
amount and must be handled manually. No credit memos are created.
O Only
the current (newest) invoice will be processed. The amount will be applied through
batch payments by lease (not by invoice). In effect the current amount will be
debited and applied to the most delinquent invoice. Any overpayment will be applied
to the next oldest invoice and/or used to automatically create a credit memo.
Note: LeasePak
supports IBL accrual methods when PAP is selected for the lease. This enhancement
applies to both A or B type IBLs.
- USE LEASE NUMBER, NOT LESSEE
Enter Y to load the full
19-character lease key, Port/Com/Reg/Off/Lease, into the Customer number field.
In this mode the Royal Bank’s limit of no more than 10 payments per customer per
day will be bypassed, as this field would now be unique across the entire PAP/ACH
file. Enter N if the lessee number is used in the customer number field.
- ORIGINATOR INSITUTION ID
Enter the transit ID where
unpostable (NSF) payments will be returned. It is only used in Canada. Thus, this
field is skipped if the bank file layout type is ACH.
The
format is always 0004 followed by a five digit transit number. No edit check will
be performed.
If ‘WDE’
is the bank layout type selected, a six digit numeric Institution ID must be entered
in the following format: ###-###
- ORIGINATOR
ACCOUNT NUMBER
Enter
the commercial account where unpostable (NSF) payments will be returned. It is
only used in Canada.
The
format is always 11 digits followed by one space.
If
‘WDE’ is the bank layout type selected, a 1-9 digit account number must be entered.
- ORIGINATOR CUSTOMER NUMBER
Enter lessor’s assigned
customer number with the bank.
Note: This field
will be skipped if the file is to be transmitted via tape or if the ACH type
is selected, this is used only in Canada.
- ORIGINATOR
CUSTOMER NAME
Enter the name the bank
will use to refer to the lessor. For the ACH format it is the Immediate Origin
Name on the file header record.
- ORIGINATOR
ID NUMBER
Enter the
Originating ID in Canadian formats. It is the Originating DFI ID (transit routing
number TTTTAAAA) in the U.S. format. A ninth check digit character is automatically
appended during processing for the ACH format.
If
‘WDE’ is the bank layout type selected, a six digit ID number must be entered.
- COMPANY
ID NUMBER
Enter 10-
character customer number with the bank, used only in the U.S.
- FINANCIAL
INSTITUTE
When ‘WDE’
is the bank layout type selected, enter the three digit institution id.
Payoff
Customizations
This
screen is used to establish or change parameters associated with the Payoff update
[U0103] and the optional End-of-Period module, Auto Charge Off [U0440].
- SHORT
PAYOFFS ACCEPTED (Y/N)
Enter Y if payoffs less
than the required amount should be accepted by the Payoff update [U0103].
- MAXIMUM SHORTAGE ON SHORT
PAYOFF
If short payoffs are
accepted, enter the maximum shortage amount that may be processed. If short
payoffs are not accepted or if there is no maximum, this field should be left
blank.
- INCLUDE
IDC IN ‘NPV’ AND ‘OPR’ PAYOFFS (Y/N)
Enter Y to explicitly
include unamortized IDC in the base payoff calculation for the NPV and OPR
payoff methods. Currently it is explicitly included in the INV and OPR methods
without choice. Enter N to exclude unamortized IDC, which will result in a
lower base payoff. The default is N.
- TAKE INCOME ON ‘INV’ PAYOFF/TERMINATION
OF SUSPENDED PRECOMPUTED LEASES (Y/N)
Enter Y to process any
suspended income as true income of precomputed leases at the time of the payoff/termination.
Enter N to roll back the suspended income and suspended IDC into their respective
unearneds and then do the payoff/termination. This will prevent recognition
of any income earned after the lease was placed on suspension. See the Calculations
document, INV
payoff/termination method, for more information on the impact of this
switch.
- POST UNBILLED OPERATING INCOME
TO GAIN/LOSS (Y/N)
Enter Y to allow LeasePak to post Unbilled Operating Income to the Gain
or Loss accounts instead of the Operating Lease Income account. This new option
works in conjunction with the Payoff and Termination [U0103] update and is
for operating leases with AOSL/ROSL type accrual methods.
- APPLY INVOICE ON OUTSTANDING
BALANCE FIRST(Y/N)
- TAKE
UNBILLED OPERATING INCOME ON 'OPR' PAYOFF (Y/N)
Enter 'Y' to allow LeasePak to include Unbilled Operating Lease Receivable,
Deferred Operating Lease Revenue, Unrecognized Operating Lease Income and
Suspended Income Accrued in the base Payoff Amount in Payoff
[U0103] and Payoff Quote [U0213]
updates (this option is new in release v5.0a).
When this switch is set to 'N',
LeasePak will process OPR
type Payoffs as in previous versions, Unbilled Operating Lease Receivable,
Deferred Operating Lease Revenue, Unrecognized Operating Lease Income and
Suspended Income Accrued, closed with a zero balance upon Payoff.
Refer to the Calculations
document for more information on payoff
methods.
Note: If this
field is set to Y and the Post Unbilled Operating Income to Gain/Loss
(Y/N) switch is set to Y, LeasePak will display the following error message:
"Post Unbilled Operating Income must be turned off."
This screen is used to establish
or change parameters associated with the Batch
Payoff [U0129] module and works in conjunction with the Cash Control module,
separately purchased modules.
- USE THIRD PARTY PAYOFF QUOTE
(Y/N)
Enter Y to allow the use of third party payoff quotes.
- BATCH PAYOFF LOSS TOLERANCE
Enter the Batch Payoff
loss tolerance amount.
- BATCH PAYOFF GAIN TOLERANCE
Enter the Batch Payoff
gain tolerance amount.
Payoffs falling outside
of these settings, as well as payoffs that come in on accounts with money
in suspense or anti-suspense will be rejected. Suspense items will be created
with identifiers to alert the user to the reason for posting failure.
All general ledger entries
will be made to maintain the resulting payoff transaction in order to keep
the System and G/L in balance.
The interactive Batch Payoff Module will permit overrides of these Portfolio
settings to occur on a posting of a gain or loss, and the associated G/L accounts.
Note that this is true for
principal balances; changes in accrued interest should impact interest income
while assessments should impact assessment receivable and income/expense accounts.
- ASSESSMENT TOLERANCE (SCROLLED
AREA)
Enter the tolerance amount for the assessment, if any.
Predefined
Cycles Customizations
This
screen is used to establish or change parameters associated with Accrual [U0301]
and Invoicing [U0302] updates.
Field
Descriptions
- ACCRUAL
CYCLE (scrolled area)
Enter
Y next to valid payment due days for the portfolio. On each day marked Y, accrual
processing will be executed through End of Day. Enter N next to invalid payment
due days. Do not leave any days blank.
- BILLING
CYCLE (scrolled area)
Enter
Y next to days to create invoices through End of Day. Enter N next to days that
invoicing should not be executed. Do not leave any days blank. Billing cycles
do not have to be the same as the accrual cycles; however, each billing cycle
must have an accrual cycle.
For
example, accrual cycles are 1, 5, 10, 15, 20, and 25 (i.e., payments may be due
on any of these 6 days of the month):
| BILLING
CYCLE | BILLING
FOR PAYMENTS DUE |
| 20
| 1,
5, 10, 15, 20, 25 |
or,
|
BILLING CYCLE
| BILLING
FOR PAYMENTS DUE |
| 1
| 25,
1 |
| 10
| 5,
10 |
| 20
| 15,
20 |
or,
|
BILLING CYCLE
| BILLING
FOR PAYMENTS DUE |
| 1
| 1
|
| 5
| 5
|
| 10
| 10
|
| 15
| 15
|
| 20
| 20
|
| 25
| 25
|
In this
example, Y cannot be entered for every day in BILLING CYCLE because billing cycles
2, 3, 4, 6, 7, etc. would not have an associated accrual cycle. In fact, billing
cycle of every day is valid only if the accrual cycle is also every day.
User
Defined Fields/Tables
This
screen is used to select the field/table areas to be set up.
Option
Descriptions
- APPLICATION
FIELDS
Adds or changes
user defined fields for lease applications. Appears only if Application module
is purchased.
- APPLICATION
TABLE
Adds or changes
user defined tables for lease applications. Appears only if Application module
is purchased.
- ASSET
FIELDS
Adds or changes
user defined fields for assets.
- ASSET
TABLES
Adds or changes
user defined tables for assets.
- CUSTOMER
FIELDS
Adds or changes
user defined fields for customers.
- CUSTOMER
TABLE
Adds or changes
user defined tables for customers.
- LEASE
FIELDS
Adds or changes
user defined fields for leases.
- LEASE
TABLE
Adds or changes
user defined tables for leases.
- LESSEE
FIELDS
Adds or changes
user defined fields for lessees.
- LESSEE
TABLE
Adds or changes
user defined tables for lessees.
- VENDOR
FIELDS
Adds or changes
user defined fields for vendors.
- VENDOR
TABLE
Adds or changes
user defined tables for vendors.
User Defined Application
Fields
This
screen is used to establish or change parameters associated with application level
user defined fields.
A
maximum of 36 fields may be established. Fields defined here are accessed in Tab
2, User Defined Fields
of the Application tabs [U0801]. They are reported on in the User
Defined Fields/Table section of the Application Inquiry report [R0502] and,
if the fields are set to transfer to lease, in the Lease
Inquiry report [R0905].
Note: Once fields
are defined and data is entered into user defined field records connected to specific
applications, redefining one or more fields through this update may make existing
data for these fields incorrect.
Field
Descriptions
- FIELD
HEADER (scrolled area)
Enter
the field name or label that appears on the screen when entering data for applications.
Any number of fields may be defined, up to a maximum of 36. If no fields are defined,
the User-Defined Fields screen does not appear when entering applications. Each
name may contain a maximum of 25 characters.
If
a FIELD HEADER is entered, CODE CHECK and INPUT REQUIRED must also be entered.
- CODE CHECK
(Y/N) (scrolled area)
Enter
Y if a code check is to be done on values entered in this field during application
entry. A code check means that the value entered into this field is compared to
a list of valid codes established for this field using the Custom Code update
[U0722]. In this way, the values entered into this field may be limited to a number
of predetermined four-character codes. Refer to the Custom
Code update [U0722]for more information on establishing custom codes.
- EDIT CHECK (N/$/D) (scrolled
area)
Enter N for numeric,
$ for dollar amount, or D for date edit check. Leave blank if no edit check is
desired.
Numeric edit
check means that only the digits zero through nine (0, 1, 2, ... 9), and the plus
sign (+) and minus sign (-) are accepted as input for this field.
Dollar
amount edit check accepts the same input as numeric, but amounts entered are formatted
as dollar amounts on the Lease Inquiry report [R0905] and the Lease Application
Inquiry report [R0502]. Amounts are entered in cents, e.g., 15 dollars is entered
as 1500, not 15.00.
Date
edit check means that only valid dates in MMDDYY format are accepted as input.
The dates entered in this field are formatted in MM/DD/YY format on the Lease
Inquiry report [R0905] and the Lease Application Inquiry report [R0502].
- INPUT REQUIRED (Y/N) (scrolled
area)
Enter Y if a value
must be entered in this field during lessee entry.
- TRANSFER
TO LEASE (Y/N) (scrolled area)
Enter
Y if this field is to also appear after the lease is booked. If any of the fields
are set to be transferred to lease, they must also be set up, in the same order,
as user defined lease fields. For example, if Field 3 is to be transferred, the
same field must be set up in the Field 3 position for user defined lease fields.
This switch only appears
for application user defined fields and table.
User Defined Application
Table
This
screen is used to establish or change a application level user defined table.
A maximum of 12 columns
may be established. Columns defined here are accessed in Tab 2, User
Defined Table of the Application tabs [U0801]. They are reported on in the
User Defined Fields/Table section
of the Application Inquiry report [R0502] and, if the fields are set to transfer
to lease, in the Lease Inquiry
report [R0905]. In this update each column may have a maximum of 36 associated
elements. Thus, the maximum size of the table is 12 columns by 36 rows.
Note: Once table
columns are defined and data is entered into user defined table records connected
to specific applications, redefining one or more columns through this update may
make existing data for these columns incorrect.
Field
Descriptions
- TABLE
HEADER (scrolled area)
Enter
or change the names or labels that appear above each table column on the screen
when entering user defined data for applications. Any number of columns may be
defined, up to a maximum of 12. If no columns are defined, the Application User-Defined
Table screen does not appear when entering applications. If 6 or fewer columns
are defined, the User-Defined Table screen displays a table with 16 visible lines
of scrolled area. If 7 or more columns are defined, the screen is split horizontally
so that all column headers may appear on one screen. If this is the case, then
the split screen is divided into 2 scrolled areas of 7 lines each. There are 36
elements or rows available in each column. A column element may contain a maximum
of 12 characters. Thus, each TABLE HEADER may contain a maximum of 12 characters.
If a TABLE HEADER
is entered, CODE CHECK and INPUT REQUIRED must also be entered.
- CODE CHECK (Y/N) (scrolled area)
Enter Y if a code check
is to be done on the values entered in this column during application entry. A
code check means that the value entered into each element of this column is compared
to a list of valid codes established for this column using the Custom Code update
[U0722]. In this way, values entered in this column may be limited to predetermined
4-character codes. Refer to the Custom Code update
[U0722] for more information on establishing custom codes.
- EDIT CHECK (N/$/D) (scrolled
area)
Enter N for numeric,
$ for dollar amount, or D for date edit check. Leave blank if no edit check is
desired.
Numeric edit
check means that only the digits zero through nine (0, 1, 2, ... 9), the plus
sign (+) and the minus sign (-) are accepted as input in this column.
Dollar amount edit check accepts
the same input as numeric. Amounts are entered in cents, e.g., 30 dollars is entered
as 3000, not 30.00.
Date
edit check means that only valid dates in MMDDYY format are accepted as input.
- INPUT
REQUIRED (Y/N) (scrolled area)
Enter
Y if a value must be entered in this column during application entry. If this
parameter is Y, INPUT REQUIRED applies only if a value is entered in another column
element on the same horizontal line (row) of the table. This is to avoid having
to enter a value in every element of a column, even if nothing is entered in the
rest of the row.
- TRANSFER
TO LEASE (Y/N) (scrolled area)
Enter
Y if this table column is to also appear after the lease is booked. If any of
the columns are set to be transferred to lease, they must also be set up, in the
same order, as a user defined lease table. For example, if Column 3 is to be transferred,
the same column must be set up in the Column 3 position for the user defined lease
table.
This switch
only appears for application user defined fields and table.
Other User Defined Fields
This
screen is used to establish or change customized fields for areas other than application.
A maximum of 36 fields
may be established. Fields defined here are accessed through the following:
Field
Descriptions
- FIELD
HEADER (scrolled area)
Enter or change the
name or label that appears next to the field on the screen when entering data.
As many fields may be defined as needed, up to a maximum of 36. If no fields
are defined, the User-Defined Fields screen does not appear in the respective
update. Each field name may contain a maximum of 25 characters.
If a FIELD HEADER is entered,
CODE CHECK and INPUT REQUIRED must also be entered.
- CODE
CHECK (Y/N) (scrolled area)
Enter
Y if a code check is to be done on the values entered in this column. A code check
means that the value entered into this field is compared to a list of valid codes
established for this field using the Custom Code update [U0722]. In this way,
the values entered into this field may be limited to predetermined 4-character
codes. Refer to the Custom Code update [U0722]for
more information on establishing custom codes.
- EDIT
CHECK (N/$/D) (scrolled area)
Enter
N for numeric, $ for dollar amount, or D for date edit check. Leave blank if no
edit check is desired.
Numeric
edit check means that only the digits zero through nine (0, 1, 2, ... 9), and
the plus sign (+) and minus sign (-) are accepted as input for this field.
Dollar amount edit check
accepts the same input as numeric, but amounts entered are formatted as dollar
amounts on reports. Amounts are entered in cents, e.g., 15 dollars is entered
as 1500, not 15.00.
Date
edit check means that only valid dates in MMDDYY format are accepted as input.
The dates entered in this field are formatted in MM/DD/YY format on reports.
- INPUT REQUIRED (Y/N) (scrolled
area)
Enter Y if a value
must be entered in this field to process the respective update.
Other User Defined Tables
This
screen is used to establish or change all areas of user defined tables except
application.
A maximum
of 12 columns may be established. In this update each column may have a maximum
of 36 associated elements. Thus, the maximum size of the table is 12 columns by
36 rows. The fields are used in the following updates:
Field
Descriptions
- TABLE
HEADER (scrolled area)
Enter
or change the names or labels that appear above each table column on the screen
when entering user defined data. Any number of columns may be defined, up to a
maximum of 12. If no columns are defined, the User-Defined Table screen does not
appear when using the respective updates. If 6 or fewer columns are defined, the
User-Defined Table screen displays a table with 16 visible lines of scrolled area.
If 7 or more columns are defined, the screen is split horizontally so that all
column headers may appear on one screen. If this is the case, then the split screen
is divided into 2 scrolled areas of 7 lines each. There are 36 elements or rows
available in each column. A column element may contain a maximum of 12 characters.
Thus, each TABLE HEADER may contain a maximum of 12 characters.
If
a TABLE HEADER is entered, CODE CHECK and INPUT REQUIRED must also be entered.
- CODE CHECK
(Y/N) (scrolled area)
Enter
Y if a code check is to be done on the values entered in this column. A code check
means that the value entered into each element of this column is compared to a
list of valid codes established for this column using the Custom Code update [U0722].
In this way, values entered in this column may be limited to predetermined 4-character
codes. Refer to the Custom Code update [U0722]
for more information on establishing custom codes.
- EDIT
CHECK (N/$/D) (scrolled area)
Enter
N for numeric, $ for dollar amount, or D for date edit check. Leave blank if no
edit check is desired.
Numeric
edit check means that only the digits zero through nine (0, 1, 2, ... 9), the
plus sign (+) and the minus sign (-) are accepted as input in this column.
Dollar amount edit check
accepts the same input as numeric. Amounts are entered in cents, e.g., 30 dollars
is entered as 3000, not 30.00.
Date
edit check means that only valid dates in MMDDYY format are accepted as input.
- INPUT
REQUIRED (Y/N) (scrolled area)
Enter
Y if a value must be entered in this column to process the respective update.
If this parameter is Y, INPUT REQUIRED applies only if a value is entered in another
column element on the same horizontal line (row) of the table. This is to avoid
having to enter a value in every element of a column, even if nothing is entered
in the rest of the row.
©
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.