Trial Balance [R0901]
Introduction
The Trial Balance report [R0901] shows the financial values of all current leases
on file. Paid off and terminated leases are not included. It may be used just
to inventory leases on file or to reconcile corresponding General Ledger accounts
on the General Ledger Entries Listing report [R0406].
The
report may be accessed through the Operational report menu [R09] and may be selected
interactively for:
- All
leases
- All customers
and lessees
- A portfolio
- A
company
- A region
- An
office
- A lease
- A
customer
- A customer/lessee
- A
lessee
The reports
are organized by Portfolio, Company, Region, Office or by Customer, Lessee. 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.
Three reports
are produced that provide information for the following interest methods:
Trial Balance Selection Screen
- ALL
Enter X to report on all
leases. Leave blank to report on a specific portfolio, company, region, office,
lease, customer and/or lessee. If ALL is selected, leases that belong to a customer
are also reported, however, these leases are sorted by their portfolio, company,
region, office, and lease numbers, rather than their customer or lessee numbers.
- ALL CUST
Enter X to report on all
customers. Leave blank to report on a specific portfolio, company, region, office,
lease, customer or lessee. If ALL CUST is selected, only leases that belong to
a customer are reported (sorted by customer and lessee).
- PORT
Enter
the number of the portfolio on which to report. Leave blank if reporting across
portfolios.
- COMP
Enter the number of the
company on which to report. Leave blank if reporting across companies.
- REGN
Enter
the number of the region on which to report. Leave blank if reporting across regions.
- OFFIC
Enter the number of the
office on which to report. Leave blank if reporting across offices.
- LEASE
Enter
the number of the specific lease on which to report.
- CUST
Enter the number of the
customer on which to report. CUST may not be entered if a portfolio, company,
region, office, or lease number is entered.
- LESSEE
Enter the number of the
lessee on which to report. LESSEE may not be entered if a portfolio, company,
region, office, or lease number is entered.
Trial Balance Precomputed Report
The Trial Balance Precomputed report [R0901A] reports at the lease level and provides the following information
for all precomputed leases and also simple interest leases utilizing a gross outstanding
accounting basis (i.e., VV or VL simple interest accrual methods):
- LEASE
- LESSEE
NAME
- COMMENCE
DATE
- TRM
- CONTRACT
RECEIVABLE
The total
of the net unbilled lease payments that are to be received over the remaining
life of the lease plus the guaranteed residual, if any, is displayed.
- UNGUARANTEED RESIDUAL
The unguaranteed residual
is displayed. The total of the guaranteed and unguaranteed portions of the residual
should reflect the estimated market value of the asset at lease maturity.
- UNEARNED LESSOR
The
amount of rental income to be accrued to the lessor over the remaining life of
the lease is displayed.
- UNEARNED
VENDOR
The amount of
rental income to be accrued to and earned by the vendor over the remaining life
of the lease is displayed. UNEARNED VENDOR is applicable only if the vendor is
participating in the income earnings of the lease.
- UNEARNED
INVESTOR
The amount
of rental income to be accrued to and earned by the investor over the remaining
life of the lease is displayed. UNEARNED INVESTOR is applicable only if the investor
is participating in the income earnings of the lease.
- UNAMORTIZED
IDC
The amount of initial
direct costs to be amortized over the remaining life of the lease is displayed.
- FIXED
RATE RESERVES
The IDC3-
Fixed Rate Reserve total amount for the lease is displayed.
- STANDARD RESERVES
The
IDC4 - Standard Reserve total amount for the lease is displayed.
- GUARANTEED RESERVES
The
IDC5 - Guaranteed Reserves total amount for the lease is displayed.
- SUBVENTION
The
total IDR5 - Subvention amount for the lease is displayed.
- DEALER BUY DOWN
The
total IDR6 - Dealer Buy Down amount for the lease is displayed.
- CREDIT LIFE INSURANCE 1
The total IDR7 - Credit
Life Insurance 1 amount for the lease is displayed.
- CREDIT
LIFE INSURANCE 2
The
total IDR8 - Credit Life Insurance 2 amount for the lease is displayed.
- CR DISABILITY INS 1
The
total IDR9 - Credit Disability 1 amount for the lease is displayed.
- CR
DISABILITY INS 2
The
total IDRA - Credit Disability Insurance 2 amount for the lease is displayed.
- ACQUISITION FEE
The
total IDRB -Acquisition Fee amount for the lease is displayed.
Trial Balance Simple Report
The Trial Balance Simple report [R0901B] reports at the lease level and provides
the following information for each simple interest lease:
- LEASE
- LESSEE
NAME
- COMMENCE
DATE
- TERM
- ORIGINAL
PRINCIPAL
The original
starting principal in the lease is calculated as follows:
ORIGINAL ACQUISITION COST
+ OTHER CHARGES
- DOWN PAYMENT
+ DOCUMENTATION FEE
+ BROKER FEE
BROKER
FEE is included only if it is capitalized (i.e., only if the broker payment method
is PRIN).
- OUTSTANDING
PRINCIPAL
The remaining
outstanding principal balance of the lease is displayed.
- RESIDUAL
The
estimated market value of the asset at lease maturity is displayed.
- PRINCIPAL RECEIVABLE
For
simple interest accrual type LT, the amount of unpaid principal accumulated for
the lease is displayed. The number may be positive or negative. A positive number
indicates the lessee owes the amount, and a negative number indicates a credit
to the lessee. PRINCIPAL RECEIVABLE may be billed or refunded to the lessee through
the Unbilled Receivables update [U0303].
For simple interest type
VT and all Interest Bearing methods, the total outstanding principal receivable
is displayed (including principal adjustment amounts resulting from interest adjustment
transactions). The number may be positive or negative. A positive amount indicates
that the lessee owes the amount, and a negative number indicates a credit to the
lessee. "P and I" IBL methods will include principal adjustment amounts
in the calculation.
- UNAMORTIZED
IDC
The amount of initial
direct costs to be amortized over the remaining life of the lease is displayed.
Trial Balance Operating Report
The Trial Balance Operating report [R0901C] reports at the lease level and provides
the following information for each operating lease:
- LEASE
- LESSEE
NAME
- COMMENCE
DATE
- TERM
- LEASED
ASSETS
The combined
book value of the assets on the lease at booking time is displayed.
- INS PREM
The insurance premium is displayed
- FIX
RESV
The fixed reserve
is displayed
- CR
LIFE 2
The credit life
2 amount is displayed
- ACCUMULATED
DEPRECIATION
The depreciation
accumulated for the assets while on lease is displayed.
- NOTARY
FEE
The total amount
of the Notary Fee is displayed.
- STD
RESV
The total amount
for Standard Reserve (IDC4) for the lease is displayed
- CR DISA 1
The total amount for Credit Disability 1 is displayed
- NET BOOK VALUE
The net book value of
the assets on the lease is displayed. It is calculated as follows:
LEASED ASSETS - ACCUMULATED DEPRECIATION
- INS FEE
The Insurance fee for the lease
is displayed.
- GUA RESV
The Guaranteed Reserve (IDC5) total amount is displayed.
- CR DISA 2
The total amount for the Credit
Disability 2 (IDRA) is displayed.
- UNBLD OPER LEASE REC
The Unbilled Operating Lease Receivable is displayed.
- REG FEE
The Registration Fee
is displayed.
- SUBVENT
The Subvention amount,
if any is displayed
- ACQ FEE
The total Acquisition
Fee for the asset is displayed.
- DFRRD OPER LEASE REV
The Deferred Operating
Lease Revenue is displayed.
- DLR SUBDY
The Dealer Subsidy,
if any is displayed.
- WARR INS
The Warranty Insurance
for the lease is displayed.
- UNRECOG
OPER INCOM
The Unrecognized Operating
Income from the Lease table (RLS) is displayed.
The total amount of lease
payments for straight-line operating leases (AOSL, ROSL) not yet recognized
as income for book purposes (due to varying payment schedules) is displayed.
This field is applicable to straight-line operating leases only. If the payment
stream is not straight line or if interim rent or down payment was entered
at lease booking, the difference between the amount actually due and the amount
accrued is held in this field (for straight-line operating leases, the interim
rent and down payment are recognized as income over the term of the lease).
- OPEN COMM
The Open Commission
is displayed.
- CR LIFE 1
The Credit Life 1 (IDR8) is displayed.
- UNAMORTIZED IDC
The amount of initial
direct costs to be amortized over the remaining life of the lease is displayed.
- TOTALS/GRAND TOTALS
Page totals show number of leases and all dollar amounts for each office.
Lessee totals are shown if customer/lessee is selected.
Region, company, portfolio,
and grand totals are shown for the number of leases and all dollar amounts.
Customer totals are shown if all customer or customer/lessee is selected.
Balancing Procedures
The totals for contract receivable, outstanding principal, unguaranteed residual, principal
receivable, lessor unearned, vendor unearned, investor unearned, and unamortized
initial direct costs for each accounting unit (portfolio, company, region, and
office) should balance to the corresponding totals of the General Ledger Entries
Listing report [R0406].
Note: The unamortized initial direct costs must be added for each of the 3 lease types
and then compared to the total on the General Ledger Entries Listing report [R0406]
for each accounting unit.
When
balancing, both the Trial Balance report [R0901] and the General Ledger Entries
Listing report [R0406] should be generated at the same time.
LeasePak Reference Guide
©
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.
