Batch Payoff [U0129]

Contents

• Add/Change Payoff Batch Number
• Batch Payoff Entries
• Batch Payoff Report Viewer
• Delete Payoff Batch Number

 

Introduction

The Batch Payoff update works in conjunction with the Cash Control Module, a separately purchased module. The Batch Payoff update allows the user to ability to automatically post all Payoffs for Interest Bearing Loans in arrears with an RAX* accrual method in a batch method. Using the Payoff (RPD) table, LeasePak will determine acceptance of the Payoff amounts based on the Payoff Customization switches set in the Portfolio [U0212] update: Default Bank Code for Payoff Refund, Refund Check Date Deferral, Use Third Party Payoff Quote Y/N, Batch Payoff Loss Tolerance, Batch Payoff Gain Tolerance and Assessment Tolerances. Additionally, LeasePak will process the Batch Payoff's through End of Period, the End of Period Customization option in the Portfolio update will allow the user to run Batch Payoffs and view Exceptions and audits through the Batch Payoff [U0427] update.

When a Payoff for RAX* type leases is processed, LeasePak will various edit checks to compare the data entered in the RPD table and the calculated payoff data.

For Example:

	Data From LeasePak	Outside Source Data
Base Payoff	$ 76,660.12	$ 78,000.00
Pmts Outstd	$ 2,021.22	$ 2,500.00
Assmt Outstd	$ 125.00	$200.00
Total Payoff	$ 78,806.41	$80,700.00

Amount Received = $81,000.00
Bank Code: 125

Base Payoff : The difference is debited/credited to the Gain/Loss on Sale of Equipment
Pmts Outstd: The difference is debited/credited to Lessor Income-Simple
Assm Outstd: The difference is debited/credited to the income account of each assessment and adjusted accordingly (based on outside source data)

If the Payoff transaction is rejected, the amount entered through Batch Payoff [U0129], will be posted to the 'Default Bank for Automatic Suspense' and a Suspense item will be created and tied to the default PCRO. The Bank Code entered in this update will not record the cash receipt. Any exceptions will be displayed in the Exceptions report and the Suspense item number will be displayed in the Suspense Review [R0203] report.

The Batch Payoff update, allows the user to reverse all payoffs transactions and batch payoff transactions via the Payoff Reversal [U0103] update.

Each group of Payoff entries are controlled by the batch number consisting of today's date, and a unique sequential number. For Batch Payoffs, LeasePak automatically assigns unique 30-digit batch numbers to each payoff applied through [U0103].

The Batch number changes when a new CHECK NUMBER is entered. Batch numbers assigned by LeasePak are made up of 20 digits:

• 6 digits for current date (YYMMDD)
• 6 digits for each payment session
• 8 digits for each check.

This number increases each time a new check number is entered.

For example, 3 checks from 3 lessees are to be applied on September 3, 1995.

Check Number	Check Amount	Invoice Number	Amount Paid	Batch Number
1011	$250	10042	$100	9509039000010000001
same		10191	$100	9509039000010000001
same		10233	$50	9509039000010000001
976	$7005	09919	$7005	9509039000010000002
9442	$2224	10098	$1112	9509039000010000003
same		10131	$1112	9509039000010000003

If the user leaves the Batch Payoff screen back to the main menu, and then goes back to enter more Payoffs, the next batch number will start with: 95090390000200000001.

Add/Change Batch Payoff Number

This screen allows the user to enter the Batch Payoff Number that is to be added, changed or deleted.

 

This screen appears when the Add button is selected.

• BATCH PAYOFF NUMBER
  The Batch Payoff Number is displayed.
  
  
• BATCH PROJECTED TOTAL
  Enter the Projected Total that applies to the Batch Payoff Number.
  
  
• OPERATOR INITIAL
  The current Operator Initials will default.
  
  
• EFFECTIVE DATE
  Enter the Effective Date to which this batch payoff number will apply in MM/DD/YY or DD/MM/YY format, depending on the Date Format Preference field in Security [U0706].
  

  For IBL's with A type behavior, LeasePak allows for the Payoff Effective Date to be greater than the Accrued to Date (up to a month). Additionally, IBL type leases must have the Capitalized Interest field in Applications [U0801] and New Lease [U0101] set to 'N'. All IBL accrual methods are supported.
  
  The Payoff will be declined if the Last Accrued to Date plus one month is less than the Payoff Effective Date. LeasePak will display an exception message.

  Example
  

  Current Accrued to Date	10/1/01
  Accrual Deferral Day	6
  Next Accrual	EOP on 10/07/01
  New Accrued to Date on 10/07/01	Next Payment Due Date 11/01/01
  Payoff Effective Date	11/05/01

  Current Accrued to Date (10/1/01) + one month = 11/01/01 11/01/01 is less then Payoff Effective Date = 11/5/01
  The following exception message will be displayed: "Effective date must not be after: 11/01/01"

  If the Last Accrued to Date is less than Payoff Effective Date but Last Accrued to Date plus one-month is more than Payoff Effective Date, LeasePak will calculate the additional interest.

  Example

  Current Accrued to Date	10/1/01
  Accrual Deferral Days	6
  Next Accrual	EOP on 10/07/01
  New Accrued to Date on 10/07/01	Next Payment Due Date 11/01/01
  Current Date	10/01/01-11/01/01 (between Last Accrued to Date and next Last Accrued to Date)
  Payoff Effective Date	10//06/01

  Current Interest Outstanding = Additional Interest (Interest calculated for 7 days of October) + Current Payments Outstanding (Interest accrued until 10/1/01)

• PORTFOLIO
  Enter the Portfolio to which this batch payoff number will apply.
  
  
• BANK CODE
  Enter the Bank Code to which this batch payoff number will apply.

Change Batch Payoff

When a Batch Payoff Number is entered or the Help button is used to select a previously entered number, LeasePak allows the user to select the Change button.

• BATCH CONTROL NUMBER
  The Batch Payoff Number is displayed.
  
  
• BATCH PROJECTED TOTAL
  The Projected Total that applies to the Batch Payoff Number is displayed and may be changed.
  
  
• OPERATOR INITIAL
  The current Operator Initials will default.
  
  
• EFFECTIVE DATE
  Enter the Effective Date to which this batch number will apply in MM/DD/YY or DD/MM/YY format, depending on the Date Format Preference field in Security [U0706].
  
  
• PORTFOLIO
  Enter the Portfolio to which this batch payoff number will apply.
  
  
• BANK CODE
  Enter the Bank Code to which this batch payoff number will apply.

Batch Payoff Entries

This screen allows for Batch Payment Entries.

• BATCH CONTROL NUMBER
  The unique Batch Payoff Number is displayed for the batch of payments entered for the given session.
  
  
• OPERATOR
  The current signed-on user initials are displayed.
  
  
• BATCH PROJECTED TOTAL
  Enter the projected target total of all batch payments. This number is used for reconciliation; the number entered should match the total payment amount before the batch payment is processed.
  
  
• CHECK NUMBER
  Enter the check number for the payment. This is a required field.
  
  
• LSE/INVO
  Enter L for Lease. ‘L’ must be selected for IBLs. This field automatically defaults to L.
  
  
• NUMBER
  Enter the Lease or Invoice number. This field is required.
  
  
• AMOUNT
  Enter the payment amount. This field is required.
  
  
• EFFECTIVE DATE
  The effective date defaults from the previous screen. This field may be changed in MM/DD/YY or DD/MM/YY format, depending on the Date Format Preference field in Security [U0706].
  
  
• BANK CODE
  The bank code defaults from the previous screen. This field may be changed.
  
  
• PAYOFF METHOD
  PAYOFF METHOD defaults to the method specified on the Payoff Quote (RPD) file. If no Payoff Quote exists, PAYOFF METHOD defaults to the method on the lease form, as established on the Lease Form update [U0721]. The method may be changed to another valid method. Click on the Help arrow for a list of valid payoff methods. The matrix below shows which payoff methods may be used for each lease type.
  
  

  Lease Type	Payoff Methods	Termination Methods
  Precomputed	CF3, EBV, FIX, G12, INV, NPV, PR, PRN, PV2, PVS, PVT, R78,RES, RV, SB, TAX, WO	EBV, G12, INV, NONE, PV2, RV, TAX, WO
  Simple Interest	EBV, PRN	NONE
  Operating	OPR	INV, NONE
  IBL	IB	IB

  
  
  
• PAYOFF SOURCE
  Select the payoff source. Use Help for a list of valid sources. PAYOFF SOURCE is informational only. Codes are established through the Custom Codes update [U0722] under code SRC.
  
  
• PAYOFF RATING
  Select the payoff rating. Use ‘HELP’ for a list of valid payoff ratings. PAYOFF RATING is informational only. Payoff rating codes are established through the Custom Codes update [U0722] under code RAT.
  
  
• ALLOW OVERRIDE
  This field will permit overrides of Portfolio setting to occur on posting of gain or losses and the associated G/L accounts.
  
  
• CURRENT TOTAL
  This field will display the total dollar amount. This amount will be updated as each entry is made.
  
  
• SAVE
  Select Save when the Batch Payoff number is to be saved.
  
  
• VALIDATE
  When the Validate button is selected the following is verified and saved: Check Number, Lease Number, and other high level edit checks are performed. Once the validation is complete, LeasePak will display the Batch Payoff detail record and validation for the specific batch Payoff processed.
  When the validation is complete, LeasePak will notify that user that the validation is complete.
  
  
  
  
  Select Ok. This will prompt the user the the Batch Payoff Report Viewer which automatically launches when Ok is selected.
  
  
• PROCESS
  Select Process when the Batch Payoff numbers are ready to be processed. The Operator which entered the batch payoff number, is not allowed to process the entries; an error message will appear when this occurs. Select OK and hit the Cancel button to continue.

 

Batch Payoff Report Viewer

This screen appears when OK is selected in the previous screen. This screen allow the user to view the Batch Payoff Report Viewer [R0416] at the time of entry. Select one of the choices if desired, if not, select Cancel. Once the batch payoff job has been submitted, the processed job may be viewed through the Batch Payoff update or through the Batch Payoff Report Viewer [R0416].

To view the report through the Batch Payoff update, select the batch payoff number from the first screen. The Help menu will display the batch payoff numbers that have been completed. When a completed job is selected, the VIEW button will appear in the screen.

For a detailed description of the report, refer to the Batch Payment Report Viewer [R0415].

 

Delete Payoff Batch Number

Unprocessed batch payoff numbers may be deleted. Select the batch payoff number to be deleted. Use the Help button to view the list of unprocessed batch numbers. Select Delete.

 

Select Yes or No for the Batch Detail Record that is displayed to be deleted or not. If Yes is selected, the Batch Detail record will be deleted for the given batch payoff key.

 

LeasePak  Reference Guide

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