Buyout Upgrade/Keep Upgrade/Return Payoff/Return Vendor Buyout Terms Opt Residual

Included Payoff Calculations

The payoff calculations described in this document work with Sybase DBMS only.

LeasePak calculates the multiple payoff amounts featured on the Lease Summary screen for display only; a customizable stored procedure in the LeasePak database (for Sybase the filename is syb_mp_altlsepayinfo.sql) determines the components and calculations of the five payoff types. For more information about customizing this stored procedure, contact your MSI representative.

MSI supplies five payoff calculations: Buyout, Upgrade/Keep, Upgrade/Return, Payoff/Return, and Vendor Buyout.

 

Buyout

Lease Payoff Calculation

• Lease Balance (should include unbilled Contract Receivable as well as billed receivables)
• - total remaining Unearned Income
• - Security Deposit
• + Unamortized IDC
• + Late Charges
• + Optional Residual
• + Property Tax billed
• + Estimated Property Tax
• + Use Tax billed
• + taxes (as defined below)

Taxes

Taxes will be the blended rate of all the assets on lease multiplied by the sum of

• [Lease Balance (should include unbilled Contract Receivable as well as billed receivables)
• - total remaining Unearned Income (include payments and remaining Residual Unearned Income)
• + Unamortized IDC
• + Optional Residual]

 

Asset Payoff Calculation

The current selected asset's share of

• Lease Balance (should include unbilled Contract Receivable as well as billed receivables)
• - total remaining Unearned Income
• - Security Deposit
• + Unamortized IDC
• + Late Charges

Then add the following fields that appear for each individual asset

• + Optional Residual
• + Property Tax billed
• + Estimated Property Tax
• + Use Tax billed
• + taxes (as defined below)

Taxes

Taxes will be calculated using the tax rate of each asset multiplied by the sum of

• [Lease Balance (should include unbilled Contract Receivable as well as billed receivables)
• - total remaining Unearned Income (include payments and remaining Residual Unearned Income)
• + Unamortized IDC
• + Optional Residual]

 

 

Upgrade/Keep

Lease Payoff Calculation

• Lease Balance (should include unbilled Contract Receivable as well as billed receivables)
• - total remaining Unearned Income
• - Security Deposit
• + Unamortized IDC
• + Late Charges
• + Booked Residual
• + Property Tax billed
• + Use Tax billed

Taxes

No taxes.

 

Asset Payoff Calculation

The current selected asset's share of

• Lease Balance (should include unbilled Contract Receivable as well as billed receivables)
• - total remaining Unearned Income
• - Security Deposit
• + Unamortized IDC
• + Late Charges

Then add the following fields that appear for each individual asset

• + Booked Residual
• + Property Tax billed
• + Use Tax billed

Taxes

No taxes.

 

 

Upgrade/Return

Lease Payoff Calculation

• Lease Balance (should include unbilled Contract Receivable as well as billed receivables)
• - total remaining Unearned Income
• - Security Deposit
• + Unamortized IDC
• + Late Charges
• + Property Tax billed
• + Estimated Property Tax
• + Use Tax billed

Taxes

No taxes.

 

Asset Payoff Calculation

Upgrade/Return:

The current selected asset's share of

• Lease Balance (should include unbilled Contract Receivable as well as billed receivables)
• - total remaining Unearned Income
• - Security Deposit
• + Unamortized IDC
• + Late Charges

Then add the following fields that appear for each individual asset

• + Property Tax billed
• + Estimated Property Tax
• + Use Tax billed

Taxes

No taxes.

 

 

Payoff/Return

Lease Payoff Calculation

• Lease Balance (should include unbilled Contract Receivable as well as billed receivables)
• - total remaining Unearned Income
• - Security Deposit
• + Unamortized IDC
• + Late Charges
• + Property Tax billed
• + Estimated Property Tax
• + Use Tax billed
• + taxes (as defined below)

Taxes

Taxes will be the blended rate of all the assets on lease multiplied by the sum of

• [Lease Balance (should include unbilled Contract Receivable as well as billed receivables)
• - total remaining Unearned Income (include payments and remaining Residual Unearned Income)
• + Unamortized IDC]

 

Asset Payoff Calculation

The current selected asset's share of

• Lease Balance (should include unbilled contract receivable as well as billed receivables)
• - total remaining Unearned Income
• - Security Deposit
• + Unamortized IDC
• + Late Charges

Then add the following fields that appear for each individual asset

• + Property Tax billed
• + Estimated Property Tax
• + Use Tax billed
• + taxes (as defined below)

Taxes

Taxes will be calculated using the tax rate of each asset multiplied by the sum of

• [Lease Balance (should include unbilled Contract Receivable as well as billed receivables)
• - total remaining Unearned Income (include payments and remaining Residual Unearned Income)
• + Unamortized IDC]

 

 

Vendor Buyout

Lease Payoff Calculation

• Lease Balance (should include unbilled Contract Receivable as well as billed receivables)
• - Security Deposit
• + Unamortized IDC
• + Late Charges
• + Optional Residual
• + 5% of (Lease Balance + Optional Residual)
• + Property Tax billed
• + Estimated Property Tax
• + Use Tax billed
• + taxes (as defined below)

Taxes

Taxes will be the blended rate of all the assets on lease multiplied by the sum of

• [Lease Balance (should include unbilled Contract Receivable as well as billed receivables)
• - total remaining Unearned Income (include payments and remaining Residual Unearned Income)
• + Unamortized IDC
• + Optional Residual]

 

Asset Payoff Calculation

The current selected asset's share of

• Lease Balance (should include unbilled contract receivable as well as billed receivables)
• - Security Deposit
• + Unamortized IDC
• + Late Charges

Then add the following fields that appear for each individual asset

• + Optional Residual
• + 5% of [(Percentage of Schedule x Lease Balance) + Optional Residual]
• + Property Tax billed
• + Estimated Property Tax
• + Use Tax billed
• + taxes (as defined below)

Taxes

Taxes will be calculated using the tax rate of each asset multiplied by the sum of

• [Lease Balance (should include unbilled Contract Receivable as well as billed receivables)
• - total remaining Unearned Income (include payments and remaining Residual Unearned Income)
• + Unamortized IDC
• + Optional Residual]

 

 

Definition of Terms

(in alphabetical order)

Asset Share of Lease Balance

Calculated using the Percentage of Schedule (req.p_sch_d) of the asset:

Lease Balance * Percentage of Schedule = Asset Share

This to works in conjunction with the field Asset Percentage Calc Method (A/P/C). For more information on this field, refer to Custom General [U0212] Miscellaneous Calculations and Portfolio [U0212] Miscellaneous Calculations.

Booked Residual

Total residual field rls.res_d.

Estimated Property Taxes

110% of the most recent property tax billed.

Late Charges

Outstanding assessment amount calculated in Payoff [U0103].

Optional Residual and Optional Residual %

See the section Optional Residual below.

Paid Security Deposit

Security Deposit field rls.sec_d.

Residual Value

Total residual field rls.res_d.

Total Earned

Lessor Income + Residual Income

Total Lease Balance

Total receivable amount in the field rls.rec_d + any rents billed but not collected (from the rar table).

Total Unearned

Lessor Unearned Income + Residual Unearned Income

 

 

Optional Residual

You can use the field Optional Residual (and Optional Residual %) as a component of the asset payoff calculations. Access this field through one of the following updates:

• Add Asset [U0101]
• Book Lease [U0101]
• Asset Maintenance [U0210]
• Application [U0801]
• Application Asset [U0801]

LeasePak stores the value entered in Optional residual as opt_res_d in the RAQ/REQ, RAP/RLS, and RHS/RHQ tables. It does not store the Optional Residual Percentage.

 

 

LeasePak  Reference Guide

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