Lease Discounting Approval [R0113]

The Lease Discounting Approval report [R0113] summarizes essential information for evaluation by the investor of leases that are to be discounted and sold.

Two reports may be generated: the Lease Approval Summary report and the Financial Summary report. The Lease Approval Summary report provides the investor with detail individual lease information for evaluation. The Financial Summary report provides cumulative information for a group of leases to be sold.

Only leases in a portfolio that uses the lease discounting feature and which are not yet discounted may be reported.

If a single lease is selected for reporting, a past or future start date of the remaining payment stream to sell may be specified. If a group of leases is selected for reporting, the next payment due date for each lease in the group is used as the projected effective date.

The report is organized by Portfolio, Company, Region, Office or lease. It may be accessed through the Strategic Management menu [R01 and may be selected interactively for:

• all leases
• a Portfolio, Company, Region or Office
• an individual lease

.

Lease Discounting Approval Selection

• ALL
  Enter 'X' to report on all leases. Leave blank to report on a specific Portfolio, Company, Region, Office or lease.
  
  
• PORT
  Enter the number of the portfolio upon which to report. Leave blank if reporting across portfolios.

• COMP
  Enter the number of the company upon which to report. Leave blank if reporting across companies.

• REGN
  Enter the number of the region upon which to report. Leave blank if reporting across regions.
  
  
• OFFIC
  Enter the number of the office upon which to report. Leave blank if reporting across offices.
  
  
• LEASE
  Enter the number of the specific lease upon which to report. Leave blank if reporting on multiple leases.

A second selection screen is displayed if reporting on a group of leases is desired.

• SELECT ONE OPTION
  Enter the letter corresponding with the report option desired.
  
  

  A BOTH REPORTS This option produces both the Lease Approval Summary report and the Financial Summary report.
  
  

  B APPROVAL SUMMARY REPORT This option produces the Lease Approval Summary report.
  
  C FINANCIAL SUMMARY REPORT This option produces the Financial Summary report.

   

   

   

Lease Discounting Approval - Individual Lease

An alternative screen is displayed if reporting on an individual lease is desired.

• EFFECTIVE DATE
  This field is defaulted to the next payment due date initially in in MM/DD/YY or DD/MM/YY format, depending on the Date Format Preference field in Security [U0706]. Change, if desired, the defaulted date to the due date of the first payment in the stream to be discounted. If the effective date entered does not fall on any payment due date, then the next payment due date immediately after the effective date is calculated and displayed for confirmation.

  For example, if the current date is 02/03/95 and the lease has a payment due date on the 15th, then effective date is defaulted to 02/15/95 initially. If effective date is entered as 02/10/95 then the next payment due date 02/15/95 is calculated and displayed as the effective date.

  Note that the effective date entered may be a past or future payment due date. If the effective date entered is prior to the next payment due date recorded on the Master Financial file for the lease, accruals are reversed to the effective date entered. If the effective date entered is after the next payment due date recorded on the Master Financial file for the lease, accruals are performed to the effective date entered. The accruals and accrual reversals are simulated (no file updating is processed) in order to determine the lease balances as of the effective date entered. Information displayed on the report will be reflective of the simulated accruals or accrual reversals while the actual data on the Master Financial file for the lease is unchanged.

• SELECT ONE OPTION
  Enter the letter corresponding with the report option desired.

A BOTH REPORTS This option produces both the Lease Approval Summary report and the Financial Summary report.

B APPROVAL SUMMARY REPORT This option produces the Lease Approval Summary report.

C FINANCIAL SUMMARY REPORT This option produces the Financial Summary report.

 

 

Lease Discounting Approval

 

The Lease Discounting Approval report [R0113A] reports at the lease level and provides the following information:

• LEASE
  The lease number is displayed.

• DESCRIPTION
  The description of the lease is displayed.

• LESSEE
  The lessee number is displayed.
  
  
• SHORT NAME
  The short name of the lessee is displayed.
  
  
• PORTFOLIO
  The portfolio number and name are displayed.

• COMPANY
  The company number and name are displayed.

• REGION
  The region number and name are displayed.

• OFFICE
  The office number and name are displayed.

• VENDOR
  The vendor number and name are displayed.

• PRIMARY NAME AND ADDRESS - NAME
  The name of the lessee for the primary address is displayed.

• PRIMARY NAME AND ADDRESS - ADDRESS 1
  The first address line of the primary address for the lessee is displayed.

• PRIMARY NAME AND ADDRESS - ADDRESS 2
  The second address line, if any, of the primary address for the lessee is displayed.

• PRIMARY NAME AND ADDRESS - CITY
  The city of the primary address for the lessee is displayed.

• PRIMARY NAME AND ADDRESS - STATE
  The state or province of the primary address for the lessee is displayed.

• PRIMARY NAME AND ADDRESS - ZIP
  The zip or postal code of the primary address for the lessee is displayed.

• BILLING NAME AND ADDRESS - BILL NAME
  The name of the lessee for the billing address is displayed.

• BILLING NAME AND ADDRESS - ADDRESS 1
  The first address line of the billing address for the lessee is displayed.

• BILLING NAME AND ADDRESS - ADDRESS 2
  The second address line, if any, of the billing address for the lessee is displayed.

• BILLING NAME AND ADDRESS - CITY
  The city of the billing address for the lessee is displayed.
  
  
• BILLING NAME AND ADDRESS - STATE
  The state or province of the billing address for the lessee is displayed.
  
  
• BILLING NAME AND ADDRESS - ZIP
  The zip or postal code of the billing address for the lessee is displayed.

• HOME PHONE
  The home phone for the lessee is displayed.

• PHONE
  The business phone for the lessee is displayed.

• ASSET
  The number of the asset is displayed.

• DESCRIPTION
  The description of the asset is displayed.

• PURCHASE ORDER
  The purchase order number for the asset is displayed.

• CLASS
  The classification code of the asset is displayed.

• N/U
  'NEW' is displayed if the asset was purchased new. 'USED' is displayed if the asset was purchased used or if it was re-leased from off-lease inventory.

• LOCATION
  The location of the asset is displayed.

• USE TAX
  The use tax payment code of the asset is displayed.

• SCHEDULE
  The starting and ending payment number for each payment schedule line is displayed.

• NUMBER
  The number of payments for each payment schedule line is displayed.

• FREQUENCY
  The frequency/type of the payments (e.g., monthly, advance monthly, skip, quarterly) for each payment schedule line is displayed.

• AMOUNT
  The payment amount (excluding use tax) for each payment schedule line is displayed.
  
  
• EFFECTIVE DATE
  The start date of the first payment in the stream to be discounted is displayed in MM/DD/YY or DD/MM/YY format, depending on the Date Format Preference field in Security [U0706].

  If an individual lease is selected for reporting and the EFFECTIVE DATE entered is prior to the actual first payment due date of the lease term, the field, 'ACTUAL FRST PAYMENT', is displayed next to the EFFECTIVE DATE field. On the other hand, if the EFFECTIVE DATE entered is after the last payment due date of the lease term, the field, 'FINAL PAYMENT DUE', is displayed next to the EFFECTIVE DATE.

• NPV DISCOUNT RATE
  The discount rate recorded on the lease is displayed.

• NET PRESENT VALUE
  The net present value based on the effective date is displayed.

• ACQUISITION COST
  The total acquisition cost of the assets on the lease is displayed.

• DOWN PAYMENT
  The down payment for the lease is displayed within parentheses.

• NET COST
  The Net Cost is displayed. The Net Cost is calculated as follows:

  ORIGINAL ACQUISITION COST
  - DOWN PAYMENT
  - EARNED INCOME

  where ORIGINAL ACQUISITION COST is the total acquisition cost of the asset(s) on the lease, and EARNED INCOME is the total income (interest) earned by the lessor, vendor, and investor for the lease.

  The EARNED INCOME also include the lessor's residual income if it is separated from the lessor income during accrual (i.e. when the portfolio is with ACCRETE RESIDUAL (Y/N) in the New Lease customization screen of Portfolio update [U0212NL] is set to 'Y').

• NET INCOME
  The net present value less the net cost is displayed.

• ADVANCE PAYMENT
  The total advance payment due at lease commencement is displayed.

• TOTAL INCOME
  The sum of the net income and advance payment is displayed.
  
  
• NO. OF REM PAYMENTS
  The number of remaining payments excluding the number of advance payments based on the effective date is displayed.
  
  
• CONTRACT RECEIVABLE
  The remaining unbilled contract receivable balance based on the effective date is displayed.

• NET PRESENT VALUE
  The net present value based on the effective date is displayed.

• REM UNEARNED INCOME
  The contract receivable less the net present value is displayed.

 

LeasePak  Reference Guide

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