General Accrual Payment Payoff

Notes Payable Inquiry [R1201]

• Note Payable Information
  
• Accrual Information
  
• Payment Information
  
• Payoff Information

 

Introduction

The Notes Payable Inquiry [R1201] provides a review of all information on file for a specific note payable. It may be used for research and customer service. The report is accessed through the Notes Payable report menu [R12]. The report is selected for a note using its Notes Payable number.

 

This screen is used to select a notes payable to report and sections to be included in the report.

• NOTE
  Enter the notes payable number on which to inquire. Use Help to access Client Search by Lender. Select a lender, and then select a note from the list of notes for that lender.
  
  
• ALL
  Enter X to include all the information available.

• NOTE PAYABLE INFO
  Enter X to report general information for the note, such as notes payable type, note commencement date, note accrual method, etc. Leave blank to exclude this information from the report.

• NOTE PAYABLE ACCRUAL
  Enter X to report accrual information for the note. Leave blank to exclude this information from the report.
  
  
• NOTE PAYABLE PAYMENT
  Enter X to report payment information. Leave blank to exclude this information from the report.
  
  
• NOTE PAYABLE PAYOFF
  Enter X to report payoff information on a note that has been paid off. Leave blank to exclude this information from the report. If X is entered, the default effective date of the payoff may be changed.

 

Note Information

The Notes Payable subsection of the Notes Payable Inquiry [R1201] displays the following information.

• LENDER
  The lender number for the note selected is displayed.

• NOTES PAYABLE
  The Notes Payable number is displayed.
  
  
• LENDER NAME
  
  
• NOTES PAYABLE DATE
  The actual drawdown date of the note is displayed.

• COMMENCEMENT DATE
  The commencement date of the note is displayed.

• MATURITY DATE
  The maturity date of the note is displayed.

• SYSTEM BOOK DATE
  The date the note was booked on the system is displayed.

• SYSTEM BOOK TIME
  The time the note was booked on the system is displayed.

• ACT STATUS DATE
  The date of last activity status change is displayed.

• NOTE ATTACHED DATE
  The date the note payable was attached to an asset or a lease is displayed.

• LAST UPDATE DATE
  The date any field in the notes payable (RNO) record was last changed is displayed. Updates, such as notes payable payment, notes payable payoff, or notes payable accrual modify this field.

• LAST UPDATE TIME
  The time any field in the notes payable (RNO) record was last changed is displayed. Updates, such as notes payable payment, notes payable payoff, or notes payable accrual modify this field.

• FIXED RATE
  The fixed rate of the note is displayed if it is accrued using a fixed simple interest method.

• TERM
  The term of the note, in months, is displayed.

• ADD-ON RATE
  The add-on rate is displayed if the notes payable is accrued using a floating simple interest method.

• FLOAT FLOOR
  The minimum interest rate is displayed if the note has a floating rate.

• FLOAT CEILING
  The maximum interest rate is displayed if the note has a floating rate.
  
  
• FLOAT COM RATE
  The rate in effect on the commencement date of the note payable for the float index is displayed.
  
  
• FLOAT INDEX
  The code for the financial institution whose rates provide the float index is displayed. This code is used for floating rate notes payable.

• INDEX NAME
  The name of the financial institution is displayed.

• PORTFOLIO
  
  
• COMPANY
  
  
• REGION
  
  
• OFFICE
  
  
• LEASE
  The Lease number tied to this note payable, if any, is displayed.

• ASSET
  The asset number tied to this note payable, if any, is displayed.

• ORIGINAL AMOUNT
  
  
• DOWN PAYMENT
  
  
• PARTIAL PERIOD INT AT COM
  The amount of partial period interest due at the commencement date is displayed.

• NOTES PAYABLE TYPE
  The 4-character code plus a description of the notes payable type is displayed. Notes Payable types are defined through the Custom Code update [U0722].

• ACTIVITY STATUS
  The 4-character code plus a description of the activity status code of the note payable is displayed.

• LESSEE SHORT NAME
  
  
• NOTE DESCRIPTION
  Note description is displayed.

• COMMENTS
  The 2 comment lines associated with the note payable are displayed.

 

Note Accrual Information

This section lists all the notes payable accrual information.

• ACCRUAL METHOD
  The 4-character code and a description of the notes payable interest expense accrual method is displayed. Refer to the Calculations document of the Reference Guide for examples of notes payable accrual methods.

• INTEREST EXPENSE CUR
  The interest expense accrued for the current month is displayed.

• INTEREST EXPENSE P-T-D
  The period-to-date interest expense accrued is displayed.

• INTEREST EXPENSE Y-T-D
  The year-to-date interest expense accrued is displayed. The total accrued interest expense is accumulated monthly in this field.

• INTEREST EXPENSE L-T-D
  The life-to-date interest expense accrued is displayed.

• INTEREST EXPENSE PREV YEAR
  The interest expense accrued in the previous year is displayed.

• INTEREST CARRYOVER
  The amount of interest adjustments that need to be made to future accounts receivable records is displayed.
  
  
• INTEREST UNPAID
  The total amount of interest unpaid through the last payment effective date is displayed.

• PRINCIPAL BALANCE
  The current outstanding principal balance as of the current date for the note payable is displayed.

• PAYMENT DUE DAY
  The day on which payments are due is displayed.

• ACCRUED TO DATE
  The date to which interest has been accrued for the note payable is displayed.

• NUMBER OF PAYMENTS ACCRUED
  The number of payments accrued so far over the life of the note is displayed. This field can be used to indicate where the note payable currently is in its payment schedule.

  Example:

  Payment Schedule

  3 Skip Payments 9 Monthly Payments 3 Skip Payments 9 Monthly Payments

  If the NUMBER OF PAYMENTS ACCRUED equals 3, the note has accrued the third skip payment and the next payment is the normal monthly payment.

 

Note Payment Information

This section lists payment information for the note.

• LAST PAYMENT EFF DATE
  The effective date of the last payment applied to the note is displayed.
  
  
• ACTUAL LAST PAYMENT DATE
  The date the last payment was actually processed is displayed.

• LAST PAYMENT DUE DATE
  The due date of the most recent payment billed is displayed.

• NEXT PAYMENT DUE DATE
  The due date of the next payment to be billed is displayed.

• NUMBER PAYMENTS PROCESS
  The number of notes payable payments already processed is displayed.

• PAYMENT SCHEDULE
  A list of the payment numbers associated with the payment schedule is displayed.

• NUMBER
  The number of payments for each amount is displayed.

• FREQUENCY
  The 3- or 4-character code plus a description of the frequency for each payment schedule is displayed.

• PAYMENT AMOUNT
  A list of the payment amounts for the note payable is displayed.

 

Note Payoff Information

This section lists payoff information. If the notes payable has been paid off, this report will display the actual payoff information; otherwise, this report reflects the calculated amount required for a payoff as of the due date of the last payment made.

• BASE PAYOFF AMOUNT
  The base payoff amount for the note is displayed.

  If the payoff amount cannot be calculated, UNABLE TO CALCULATE is displayed. Possible reasons a payoff cannot be calculated are:

  • An invalid date was encountered
  • Base Rate (RPR) record missing
    
    
• PRINCIPAL OUTSTANDING
  The unpaid principal due up to and including the EFFECTIVE DATE.

• INTEREST OUTSTANDING
  The unpaid interest due up to and including the EFFECTIVE DATE.

• ADDITIONAL INTEREST
  This is a user-entered field in the Notes Payable Payoff [U0903] update. If the note selected has been paid off, the additional interest amount entered at payoff is displayed; otherwise, the number is zero.

• TOTAL PAYOFF AMOUNT
  The total payoff amount includes the following:

  BASE PAYOFF AMOUNT
  + PRINCIPAL OUTSTANDING
  + INTEREST OUTSTANDING
  + ADDITIONAL INTEREST

  If the payoff amount cannot be calculated, UNABLE TO CALCULATE is displayed. Refer to the BASE PAYOFF AMOUNT field for a list of possible reasons why a payoff amount cannot be calculated.

• MONTHS TO MATURITY
  The number of months from the effective date of payoff to the calculated maturity date of the note is displayed.

• EFFECTIVE DATE
  The effective date of the payoff quote is displayed.

• PAYOFF PROCESSED DATE
  If the note payable has been paid off, the date of payoff is displayed.

• PAYOFF PROCESSED TIME
  If the note payable has been paid off, the time of payoff is displayed.

 

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