Vendor Income Participation [R0801]

 

The Vendor Income Participation report [R0801] provides a journal of all leases for a vendor. It may be used by the vendor as a reference for approximate lessee payoffs and for tracking their vendor income participation earnings.

The report is organized by Vendor. The report may be accessed through the Vendor report menu [R08] and may be selected interactively for:

• All vendors
• A vendor
• A lease

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

Vendor Income Participation Selection

• ALL
  Enter X to report on all leases. Leave blank to report on a specific vendor or lease.
  
  
• VENDR
  Enter the number of the vendor upon which to report. Leave blank if reporting across vendors.

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

 

Vendor Income Participation Report

The Vendor Income Participation report [R0801] reports at the lease level and provides the following information:

• PARTICIPATION
  The payment frequency for the vendor participation is displayed. The 3 possible alternatives are:

  PAID MONTHLY
  The vendor may participate in the income earnings of its leases and is paid monthly.

  PAID QUARTERLY
  The vendor may participate in the income earnings of its leases and is paid quarterly (in the months of March, June, September, December). When the vendor is Paid Quarterly, then EOP will calculate the Lease Vendor Participation record with accrued date before or equal to EOM in the Participation payable (DPP ) table. The report will be deleted when submitted to Vendor Participation [R0801] or Vendor Payment Participation [R0805], this will occur when the End of Month is fully divisible by three

NONE
The vendor may not participate in the income earnings of its leases.

• VENDOR ADDRESS
  The vendors address is printed at the top right-hand side of the report.

• LEASE
  The lease number is displayed.
  
  
• LESSEE NAME
  The short form of the lessee name is displayed.

• DESCRIPTION
  The description of the leased asset is displayed.

• NET COST
  The acquisition cost of the asset is displayed.

• MATURITY DATE
  The lease maturity date is displayed.

• TERM
  The term of the lease in months is displayed.

• RESIDUAL
  The estimated market value at lease maturity of the asset(s) tied to the lease is displayed. If multiple assets are tied to the lease, the total of all the assets is displayed.

• ESTIMATED PAYOFF QUOTE
  The estimated payoff amount for the lease is displayed. The payoff estimate is based upon the current date and the payoff specifications setup in Lease Form Code update [U0721]. The lease form code is entered for the lease during booking.

• EARNED PTD PARTICIPATION
  The amount of vendor participation earned period-to-date is displayed. General Ledger entries for the vendor participation payable are automatically updated at the end of the month or quarter during the End of Period update [U0401]. A cashier’s check entry for the amount due to the vendor is also created.

  If the Multiple Banks module is purchased, the disbursals will be made from cash account 126 (Default Disbursals).

• UNEARNED PARTICIPATION
  The remaining amount of income to be earned by the vendor over the life of the lease is displayed.
  
  
• TOTALS/GRAND TOTALS
  Page totals for participation amounts (earned period-to-date and unearned) are shown by vendor.

  Grand totals are shown for participation amounts (earned period-to-date and unearned).

 

Additional Notes

LeasePak offers 2 types of vendor participation: income and payment. All leases in the same portfolio must have the same vendor participation method or they may not participate. However, different portfolios may have different vendor participation methods. Refer to the VENDOR PARTICI

VENDOR PARTICIPATES IN INCOME parameter on the first screen of the New Lease Customizations option of the Portfolio update [U0212].

The Vendor Payment Participation report [R0805] shows the leases whose vendors are participating in a percentage of the lease payment.

The vendor specified at the lease level (not the asset level) is the vendor used by this report. Leases not associated with a vendor are printed first, followed by vendors and their leases. Non-participating vendors (i.e., vendors that are not participating in the income earnings of their leases) and their leases are included in the report. Also, for participating vendors, all leases associated with the vendor are shown, not just the leases in which the vendor is participating.

 

LeasePak  Reference Guide

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