Net Income [R1204]

 

The Net Income report [R1204] compares the lease income against the note payable interest expense. The difference between the two is shown as net income.

For precomputed leases, the net income is calculated using the rental income earned and the interest expense in the note payable

For operating leases, the net income is calculated using the operating lease income earned, book depreciation expense, and interest expense in the note payable.

Only those notes payable associated with a lease are reported. An asterisk is displayed in front of the lease number if the lease is paid-off, in front of the note payable number for a paid-off note. However, if both the note payable and the associated lease are paid off, they are included in this report only if the year-to-date lessor rental income earned of the lease or the year-to-date interest expense of the note payable is greater than zero.

The report may be accessed through the Note Payable report menu [R12] and may be selected interactively for:

• All leases with notes attached
• A Portfolio, Company, Region, Office
• A lease

 

Net Income Selection

• ALL
  Enter X to report on all leases with notes payable attached. Leave blank to report on a specific Portfolio, Company, Region, Office or Lease.
  
  
• PORT
  Enter the Portfolio number of the leases required. Leave blank if reporting on all leases or a specific lease.
  
  
• COMP
  Enter the Company number of the leases required. Leave blank if reporting on all leases or a specific lease.
  
  
• REGN
  Enter the Region number of the leases required. Leave blank if reporting on all leases or a specific lease.
  
  
• OFFICE
  Enter the Office number of the leases required. Leave blank if reporting on all leases or a specific lease.
  
  
• LEASE
  Enter the Lease number on which to inquire. Leave blank if reporting on multiple leases.

• CURRENT MONTH
  Enter X to report on lease figures for the current month only.
  
  
• YEAR TO DATE
  Enter X to report on lease figures for the current year only.

 

Net Income Report

The Net Income report [R1204] reports at the lease level and provides the following information:

• LEASE
  The lease number is displayed.
  
  
• NOTE PAYABLE
  The note payable number is displayed.
  
  
• LESSEE NAME
  
  
• ORIGINAL ACQUIS COST
  
  
• RENTAL INCOME EARNED
  The rental income accrued is displayed. Depending on selection criteria, the figure displayed will be either for the current month or year to date. Rental income is the income the lessor recognizes over the lease term.
  
  
• BOOK DEPR EXPENSE
  The book depreciation accrued is displayed. Depending on selection criteria, the figure displayed will be either for the current month or year to date. Depreciation expense is the amount of depreciation recognized for assets on this lease over the lease term.
  
  
• INTEREST EXPENSE
  The interest expense accrued for the note payable is displayed. Depending on selection criteria, the figure displayed will be either for the current month or year to date.
  
  
• NET PROFIT/(LOSS)
  The net profit/(loss) is displayed. It is calculated as follows:

  Operating Lease:

RENTAL INCOME (current month or year to date)
- BOOK DEPRECIATION (current month or year to date)
- INTEREST EXPENSE (current month or year to date)

Non-operating Lease:

RENTAL INCOME (current month or year to date)
- INTEREST EXPENSE (current month or year to date)

• TOTALS
  Page totals for all dollar amounts are shown. Grand totals for the all dollar amounts are shown.

 

LeasePak  Reference Guide

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