R0609 R0701 R0801 R0805 423 426 437 446 449 450 451 453 455 U1002

End of Period [U04]: Monthly Updates

This is part of the End of Period [U04] group. For an introduction to End of Period and links to all the End of Period documents, refer to End of Period [U04]: Overview.

 

• Application/RAP Clean-Up [U0453]
• Dealer Statement [U0426]
• General Ledger Lessor Income [U0446]
• Historical Payment/RTX Clean-Up [U0451]
  
  
• Insurance Tracking [U1002]
• Investor Income Participation [R0701]
• Loan Accrual [U0455]
• Suspended Earnings [R0609]
• Use Tax Disbursal [U0449]
• Vendor File Clean-Up [U0423]
  
  
• Vendor Income Participation [R0801]
• Vendor Payment Participation [R0805]
• Vertex Interface [U0437]
• Zero Monthly General Ledger Accounts [U0450]

   

Introduction

Below are descriptions of the updates that can be set to run as part of End of Month. The updates are listed in alphanumeric order by title. Note that the list is not in module execution order. The Module List section of End of Period [U04]: Overview provides a list of modules in execution order.

 

Application/RAP Cleanup [U0453]

This module performs the following:

• Deletes all applications in the portfolio which have been booked for a given number of months. The number of months is set in the Application Portfolio update [U0822].
  
  
• Moves all applications in the portfolio which have been rejected or withdrawn for a given number of months into ROA files. ROA records contain historical information for an application that was rejected or withdrawn. The number of months is set in Application Portfolio Update [U0822].
  
  
• Deletes ROA records which have existed for a given number of months. The number of months is set in Application Portfolio Update [U0822].

  Note: The update is structured so that the database is not corrupted if this update should terminate abnormally in any part of its processing.

  Skip Comments: There is no adverse effect if this module is skipped. Applications are cleaned-up by the next End of Month Application File Clean-up update.

 

Dealer Statement [U0426]

The Dealer Statement module allows the lessor to track new IDC/IDR activities as well as any accounting information between the dealer and the lessor. This module works in conjunction with the IDC/IDR enhancement in v3.1a and the Vehicle Finance module.

This update will run as part of the End of Month in End of Period. The module must be selected from the MODULES AND REPORTS screen in the End of Period Customizations option of the Portfolio [U0212] update. LeasePak will calculate the total amount owed to the dealer for the current month based on the RDT table, Dealer Transaction records and the RDH Transaction History. When the amount owed to the dealer is less or equal to the HOLDBACK AMOUNT in Vendor [U0201], no check will be disbursed. LeasePak will perform a check disbursal for the total amount due to the dealer by adding a new record to the RCK Cashier's Check table.

The Cashier's Check Disbursal [U0117] module will need to run prior to the Dealer Statement [U0426] module to ensure that a scratch file has been created.

 

Dealer Statement Audit

This report screen displays the Dealer Statement Audit [U0426A] report.

Field Descriptions

• DEALER
  The Dealer Number is displayed.
  
  
• CHECK NUMBER
  The Check Number is displayed. This number is automatically generated by LeasePak through the RSV table.

• CARRY OVER
  The Carry Over amount is displayed. If the value displayed is a positive amount, it is the actual Holdback amount. If the value is a negative amount, it is the amount that the dealer owes to the lessor.

• TARGET HOLDBACK
  The Target Holdback is displayed. If the amount the Lessor owes the Dealer is less or equal to the holdback balance amount then no check will be disbursed. LeasePak will perform edit checks for check disbursal for the total amount due to the dealer by adding a new record to the Cashier's Check table (RCK).

• CHECK AMOUNT
  The check amount for the dealer is displayed.

 

General Ledger Lessor Income [U0446]

This module updates the GL Lessor Income Month to Date, Year to Date and Life to Date of each lease. These fields will be accurately tracked and updated each time end of month is run. When this module is selected from the MODULES AND REPORTS screen in the End of Period Customizations option of the Portfolio [U0212] update, LeasePak will run the update during end of month processing. LeasePak will read through the Monthly Transaction (RTX) file for each lease; add and subtract the debits and credits and calculate the three new fields in the Lease (RLS) file. The MTD, YTD and LTD fields in the Lease Inquiry [R0905] report will display the GL Lessor Income for that lease.

Note: This JULE Fund 1998 enhancement will calculate the GL Lessor Income [U0446] for leases that were booked after the option is selected. Any leases booked prior to the selection in Portfolio [U0212] or purchase of the JULE Fund 98 module will only calculate the GL Lessor Income on a forward basis.

 

Historical Payment/RTX Cleanup [U0451]

This module deletes all transactions processed before the last End of Month. For example, if the current End of Month date is March 31 and the last End of Month executed on March 2, all transactions processed on or before March 2 are deleted. It also follows that if the current End of Month date is March 31 and the last End of Month executed on February 27, all transactions processed on or before February 27 are deleted. This module also transfers all lease payment transaction information to the Historical Transaction (RHT) file.

Note: Journaling is automatically turned off for this update. The update is structured so that the database is not corrupted if this update should terminate abnormally in any part of its processing.

Skip Comments: There is no adverse effect if this module is skipped. Transactions are cleaned-up by the next End of Month Historical Payment/RTX Clean- up update.

This module can be run interactively via the Historical RTX Clean-up 220 lease/util option. This interface allows Historical Payment/RTX Cleanup to be performed prior to end of month processes. The user may run the module interactively anytime prior to end of month. This allows for large Portfolios to perform the clean up more efficiently.

 

Insurance Tracking [U1002]

This module produces a formatted file of insurance information to be sent to an outside insurance tracking agency. A summary report is produced showing the total number of assets whose information was put on the insurance tracking file. This update is available only as part of the Collateral module, a separately licensed module of LeasePak.

Refer to the Insurance Tracking update [U1002] for more information on this update.

Skip Comments: There is no adverse effect if this update is skipped. The interactive Insurance Tracking update [U1002] may be used to create the insurance tracking file.

 

Investor Income Participation [R0701]

This module produces the same report as the interactive Investor Income Participation report [R0701], but when executed through End of Period, this module performs additional functions:

• General Ledger (RGL) file updating is performed to reduce the Investor Participation Payable and Cash General Ledger accounts for the amount of investor participation shown on the report as due and payable. If the Multiple Banks module is purchased, the disbursals will be made from cash account 126 (Default Disbursals).

• Participation Payable (RPP) file updating is performed to remove the investor participation records shown on the report as due and payable (i.e, LeasePak assumes that the amounts shown on the report are paid to the respective investors).

• Cashier's Checks are written to investors for the amount of participation shown on the report as due and payable.

Refer to the documentation for the interactive Investor Income Participation report [R0701] for a sample report.

 

Loan Accrual [U0455]

This module amortizes to the End of Month all existing underlying loans on file, calculating the monthly income amount and storing it on file. It also reduces the principal outstanding balance of the loan.

All loan accruals are memo and informational changes only. No General Ledger accounts are changed by the loan accrual.

Refer to the Loan update [U0211] for more information on underlying loans.

Skip Comments: If this module is skipped, loan outstanding balances and calculated interest amounts are not updated for the current month. Therefore, the Loan reports show outdated information. However, the next End of Month Loan Accrual brings all accruals current.

 

Suspended Earnings [R0609]

This module produces the same report as the interactive Suspended Earnings [R0609], but when executed through End of Period, this module performs additional functions:

• The report heading contains an extra line showing the the month ending date.
  
• Displays additional Month End detail, not displayed in the interactive report until after Month End is run via End of Period.
  
• This report will be display identical information if the interactive report is selected immediately after EOP is run.

 

Use Tax Disbursal [U0449]

This module reports the use tax to disburse to various taxing entities (state, county, and city). It also clears the reported payable amount from the Use Tax Payable General Ledger for each office.

If the Transit Tax enhancement, part of the 1993 JULE Fund, has been purchased, then transit taxes (or other fourth level taxes in addition to state, county and city) will be split out on a separate line on the Use Tax Disbursal reports. The county or city rates and tax amounts will appear net of any fourth level tax rates and tax amounts.

Five reports are produced by this module:

• The Use Tax Disbursal Location report [U0449A] shows detailed use tax payable information for each asset, in city tax rate, city, county tax rate, county, state tax rate and state order. This report may be used to provide the details behind use tax payments to the various taxing entities. This report also summarizes the information and may be used to determine the amount to pay to the various taxing entities.
  
  
• The Use Tax Disbursal Office report [U0449B] shows detailed use tax payable information for each asset, in portfolio, company, region, and office order. This report may be used to provide the detail behind the General Ledger transactions for use tax payable at the office level. This report also summarizes the office detail information and may be used to verify General Ledger transactions for use tax payable at the office level.
  
  
• The Use Tax Disbursal Exception report [U0449C] shows assets for which tax processing could not be completed. It displays the Location code entered for the asset, the Asset number, the date the asset became associated with a lease, and an exception message (e.g., Location record not found).
  
  
• The Use Tax Disbursal Location report [U0449D]. This report is identical to the [U0449A] report, except that it only includes assets with a use tax code of NONR (Exempt and Non Reportable).
  
  
• The Use Tax Disbursal Office report [U0449E]. This report is identical to the [U0449B] report, except that it only includes assets with a use tax code of NONR (Exempt and Non Reportable).

Use tax is disbursed either when actual payment is received from the lessee (cash basis) or when the payment is due to be received from the lessee (accrual basis).

If the taxing entity's reporting code is quarterly, a report for that taxing entity is produced during the months of March (for January, February, and March), June (for April, May, and June), September (for July, August, and September), and December (for October, November, and December).

If the Multiple Banks module is purchased, the cash account that will be credited is 127 (Sales Tax Disbursals).

Skip Comments: There is no adverse effect if this module is skipped. Use tax is disbursed by the next End of Month Use Tax Disbursal report. However, if this module is skipped, no Use Tax Disbursal report is available for tax reporting purposes. For instance, if the taxing entity's reporting code is quarterly and the March report is skipped, the next report produced is the June report.

 

Use Tax Disbursal Location

The Use Tax Disbursal Location report [U0449A] reports at the asset level. The [U0449D] report is identical to the [U0449A], except that it only includes assets with a use tax code of NONR (Exempt and Non Reportable). Both reports include the following information:

• CITY NAME
  
  
• STATE RATE
  The state rate used to calculate the sales/use tax is displayed. An asterisk in this field indicates a manual sales tax assessment was performed via the Assessment update [U0105] for the asset listed.
  
  
• CNTY RATE
  The county rate used to calculate the sales/use tax is displayed.

• CITY RATE
  The city rate used to calculate the sales/use tax is displayed.

• CO
  The number of the company is displayed.

• RE
  The number of the region is displayed.

• OFF
  The number of the office is displayed.

• LEASE
  
  
• ASSET
  
  
• NON-TAXABLE GROSS RECEIPTS
  If the asset is not taxed at the state, county or city levels, then the amount of the lease payment (gross receipts) attributed to this asset is displayed. For example, if 2 assets, both with the same acquisition cost, are assigned to one lease and the lease payment is $250.00, the gross receipts for each asset is $125.00 per lease payment. All other amounts (taxable gross receipts and tax released amounts) for this asset are zero.
  
  Non-taxable gross receipts are shown regardless of whether the accounting is done on a cash or accrual basis.

• TAXABLE GROSS RECEIPTS
  If the asset is taxed at the state, county and/or city levels, then the amount of the lease payment (gross receipts) attributed to this asset is displayed. For example, if 2 assets, both with the same acquisition cost, are assigned to one lease and the lease payment is $250.00, the gross receipts for each asset is $125.00 per lease payment. The NON-TAXABLE GRSS RECEIPTS, in this case, is zero.

• TAX RELEASED STATE
  If the asset is taxed, the amount of state taxes due this period is displayed. If the state is reported on quarterly, this amount is zero during non-quarter month ends (e.g., January, February, April, etc.), and is an accumulation for the quarter during quarter ends.

• TAX RELEASED COUNTY
  If the asset is taxed, the amount of county taxes due this period is displayed. If the county is reported on quarterly, this amount is zero during non-quarter month ends (e.g., January, February, April, etc.), and is an accumulation for the quarter during quarter ends.
  
  
• TAX RELEASED CITY
  If the asset is taxed, the amount of city taxes due this period is displayed. If the city is reported upon quarterly, this amount is zero during non-quarter month ends (e.g., January, February, April, etc.), and is an accumulation for the quarter during quarter ends.

• TAX RELEASED TOTAL
  If the asset is taxed, the total amount of state, county and city taxes due and payable for the asset is displayed.

 

Use Tax Disbursal Office

The Use Tax Disbursal Office report [U0449B] reports at the asset level. Report [U0449E] is identical to the [U0449B], except that it only includes assets with a use tax code of NONR (Exempt and Non Reportable). Both reports contain the following information:

• ST
  The 2-character post office abbreviation for the state is displayed.

• CNTY
  The 4-character code (as specified through the Location update [U0701]) for the county is displayed. For locations outside the U.S., CNTY is blank.
  
  
• CITY
  
  
• LEASE
  
  
• ASSET
  
  
• NON-TAXABLE GRSS RECEIPTS
  For all assets not taxed at the state, county or city levels, the amount of the lease payment (gross receipts) attributed to these assets is displayed. For example, if two assets, both with the same acquisition cost, are assigned to one lease and the lease payment is $250.00, the gross receipts for each asset is $125.00 per lease payment. All other amounts (taxable gross receipts and tax released amounts) for these assets are zero.

• TAXABLE GRSS RECEIPTS
  For all assets taxed at the state, county and/or city levels, the amount of the lease payment (gross receipts) attributed to these assets is displayed. For example, if two assets, both with the same acquisition cost, are assigned to one lease and the lease payment is $250.00, the gross receipts for each asset is $125.00 per lease payment. The NON-TAXABLE GRSS RECEIPTS, in this case, is zero.

• TAX RELEASED STATE
  For all assets taxed, the amount of state taxes due this period is displayed. If the state is reported upon quarterly, this amount is zero during non-quarter month ends (e.g., January, February, April, etc.), and is an accumulation for the quarter during quarter ends.

• TAX RELEASED COUNTY
  For all assets taxed, the amount of county taxes due this period is displayed. If the county is reported upon quarterly, this amount is zero during non-quarter month ends (e.g., January, February, April, etc.), and is an accumulation for the quarter during quarter ends.

• TAX RELEASED CITY
  For all assets taxed, the amount of city taxes due this period is displayed. If the city is reported upon quarterly, this amount is zero during non-quarter month ends (e.g., January, February, April, etc.), and is an accumulation for the quarter during quarter ends.

• TAX RELEASED TOTAL
  For all assets taxed, the total amount of state, county and city taxes due and payable for these assets is displayed.

 

Vendor File Clean-Up [U0423]

This module deletes any vendors that have the status TERM (terminated). The status code may be changed to TERM through the Vendor update [U0201] only if there are no active leases on file for the vendor.

Note: If Multi-Portfolio is purchased, Vendor File Cleanup should be selected to run one Portfolio only. The EOP module processes all of the vendors in the database regardless of the Portfolio submitted. If more than one Portfolio is run during the same EOP, all Portfolios will duplicate the same process.

Skip Comments: There is no adverse effect if this update is skipped. Terminated vendors are deleted by the next End of Month Vendor File Clean-up update.

 

Vendor Income Participation [R0801]

This module produces the same report as the interactive Vendor Income Participation report [R0801], but when executed through End of Period, this module performs additional functions:

• The report heading contains an extra line showing the quarter ending date or the month ending date, whichever is appropriate. Quarter ends are always March, June, September, and December.
  
  
• General Ledger (RGL) file updating is performed to reduce the Vendor Participation Payable and Cash General Ledger accounts for the amount of vendor participation shown on the report as due and payable. If the Multiple Banks module is purchased, the disbursals will be made from cash account 126 (Default Disbursals).

• Participation Payable (RPP) file updating is performed to remove the vendor participation records shown on the report as due and payable (i.e, LeasePak assumes that the amounts shown on the report are paid to the respective vendors).

• Cashier's Checks are written to the vendors for the amount of participation shown on the report as due and payable.

This module is executed only if the setting of the VENDR PARTICIPATES IN INCOME parameter is Y. This parameter is located on the first screen of the New Lease Customizations option of the Portfolio update [U0212]. If the parameter is N, the End of Month Vendor Payment Participation report [R0805] is executed.

Refer to the documentation for the interactive Vendor Income Participation report [R0801] for a sample report.

Skip Comment: LeasePak assumes the vendor payable amounts are disbursed to the vendor only when this report is executed through End of Period. Therefore, by skipping this module in End of Period, participation payments due to the vendor for the month are not considered disbursed by LeasePak. These amounts remain on file and are reported by the next End of Month Vendor Income Participation report.

 

Vendor Payment Participation [R0805]

This module produces the same report as the interactive Vendor Payment Participation report [R0805], but when executed through End of Period, this module performs additional functions:

• The report heading contains an extra line showing the quarter ending date or the month ending date, whichever is appropriate. Quarter ends are always March, June, September, and December.
  
  
• General Ledger (RGL) file updating is performed to reduce the Vendor Participation Payable and Cash General Ledger accounts for the amount of vendor participation shown on the report as due and payable. If the Multiple Banks module is purchased, the disbursals will be made from cash account 126 (Default Disbursals).

• Participation Payable (RPP) file updating is performed to remove the vendor participation records shown on the report as due and payable (i.e, LeasePak assumes that the amounts shown on the report are paid to the respective vendors).

• Vendor Totals (RDL) file updating is performed to store any shortage amount. The lessor must be made whole before any vendor participation payments are made to the vendor. If the lease payments made during this period do not cover the lessor's retained portion, the amount of the shortage is stored and included in the next period's vendor payable calculation.

• Cashier's Checks are written to the vendors for the amount of participation shown on the report as due and payable.

This module is executed only if the setting of the VENDR PARTICIPATES IN INCOME parameter is N. This parameter is located on the first screen of the New Lease Customizations option of the Portfolio update [U0212]. If the parameter is Y, the End of Period Vendor Income Participation report [R0801] is executed.

Refer to the documentation for the interactive Vendor Payment Participation report [R0805] for a sample report.

Skip Comments: This report calculates and reports on lessee payments collected since the last month end. This information is used to determine participation amounts payable to the vendor. If this report is skipped and the normal End of Month process completes, the current month lessee payment collection information is not reported in the next month's report, resulting in incorrect vendor payment reporting. Therefore, this report should not be skipped unless all End of Month modules are also skipped.

 

Vertex Interface (L Series) [U0437]

The Vertex Interface [U0437] module will automatically insert/update the Location (RLO) and Name (RNM) tables using Vertex's datafile. The Vertex Interface automates location updates and tax rate maintenance. Without the Vertex interface, the user must enter all location information, including tax rates, through the Location [U0701] update. In locations where a cap is placed on the use tax which may be charged on each asset on every billing ("maximum use tax"), Vertex passes those maximums on to LeasePak. This interface is executed via EOD/EOM processing in [U0401] and is only accessible if the module is purchased.

The Vertex Interface update takes care of all tax rate changes so the users do not need to perform rate updates. It is highly recommended that the user not manually add locations if the Vertex Interface module has been purchased. If any records are manually added to the RLO/RNM tables, these records will not be updated by the Vertex update. The HELP function on the Location table [U0701] may not work if the user manually adds locations that do not use the standard Geo Codes. Rates may be manually updated if necessary, but eventually, should Vertex attempt to post the same rate change, the manual rate change will be pushed to the Previous rate column and the current rates installed.

LeasePak will track historical tax rate changes as well as store the correct tax rates from Vertex to provide tax calculations for back dated payments and reversals. When the tax rates are updated as part of the End of Period process, the RST column tax_rate_s will determine which rate, if any, will be loaded for locations under the same state. LeasePak maintains the RST column tax_rate_s through the field TAX RATE TO USE in the State [U0713] update. The user can set TAX RATE TO USE to Sales, Use, Rental, or None for each state location.

The first record of Vertex datafile contains the date of Vertex update. This date is compared to the RCG column d_vtx_upd_ymd_s to prevent the same datafile being posted twice or to give an error message if a datafile was skipped.

A full sales tax datafile is received from Vertex monthly. The Vertex datafile should be renamed to SEQEXP and copied to the vertex directory:

$TOPDIR/vertex

The End of Period only processes the Vertex file when the U0712EP switch "Run Vertex this EOP Y/N" is set to 'Y'.

It is virtually impossible to change a database from manually maintained system (through Location [U0701]) to Vertex. Massive and costly customized conversions are required to do this. To avoid such an expense, the Vertex interface should be purchased and used from the very beginning. The only other alternative is to maintain a manual system that uses geocodes and data identical to Vertex. Attempting to use a Vertex update on an active database with a manual location system will most likely result in massive data corruption.

For the new LeasePak user whose database contains only seed data, the first Vertex run is processed as follows:

• Read Vertex datafile sequentially
• For each location create a new RLO record with the key equal to the 9-character Geo Code, with a space in the fourth position of county code
• For each location create a new RNM record with the location name

Two Custom General (RCG) columns are used to control the Vertex update. After processing the Vertex datafile for the first time, the RCG switch vertex_run_c is set to 'Y' and the column d_vtx_upd_ymd_s is updated with the date of the Vertex datafile. These columns are used to prevent duplicating the update and to check if any update has been missed.

After the Vertex datafile has been loaded for the first time, subsequent datafiles are processed by reading the Vertex datafile sequentially and inserting/updating records that have been added or changed. The RLO/RNM tables are updated with new rates, new locations, and other changes. After successful completion of the update, the Vertex SEQEXP datafile is renamed to VERTEX_YYMMDD.DAT, and the RCG column d_vtx_upd_ymd_s is updated with the date of the Vertex datafile.

An audit report is produced to list all changes from the last update and to list exceptions. Exceptions are flagged with an * (asterisk).

 

Vertex Interface Audit

Geo Code  State                County               City                      E New Value Old Value Eff Date Description
========= ==================== ==================== ========================= = ========= ========= ======== =======================
010730560 ALABAMA              JEFFERSON            HOMEWOOD                        4.000     3.000  1/01/05 RATE CHANGE
011171050 ALABAMA              SHELBY               VESTAVIA HILLS                                           NEW CITY
021850480 ALASKA               NORTH SLOPE BOROUGH  WAINWRIGHT                      0.000     3.000  1/02/03 RATE CHANGE
030070640 ARIZONA              GILA                 PAYSON                          2.120     2.000  1/01/05 RATE CHANGE
030130983 ARIZONA              MARICOPA             GOODYEAR                       100.00     40.00          MAX TAX AMOUNT CHANGE
040010903 ARKANSAS             ARKANSAS             ALMYRA                          1.000     0.000  1/01/05 RATE CHANGE
040070011 ARKANSAS             BENTON               LITTLE FLOCK                    1.000     0.000  1/01/05 RATE CHANGE
040451123 ARKANSAS             FAULKNER             VILONIA                         2.000     1.500  1/01/05 RATE CHANGE
050451260 CALIFORNIA           MENDOCINO            FORT BRAGG                      0.500     0.000          RATE CHANGE
050451260 CALIFORNIA           MENDOCINO            FORT BRAGG                      0.500     0.000          TRANSIT RATE CHANGE
171510750 KANSAS               PRATT                PRATT                           0.750     1.000  1/01/05 RATE CHANGE
171770000 KANSAS               SHAWNEE                                              1.150     0.900  1/01/05 RATE CHANGE
190632487 LOUISIANA            LIVINGSTON           SPRINGFIELD                     2.000     1.500  1/01/05 RATE CHANGE
190650000 LOUISIANA            MADISON                                              3.500     2.500  1/01/05 RATE CHANGE
190670080 LOUISIANA            MOREHOUSE            BASTROP                         3.000     2.500  1/01/05 RATE CHANGE
190730620 LOUISIANA            OUACHITA             MONROE                          1.000     0.500 12/01/04 COUNTY OVERRIDE CHANGE

The Vertex Interface Audit report [U0437A] reports changes in tax rates and exceptions.

• VERTEX GEO CODE
  The Vertex Geo Code of the changed record

• STATE
  The state of changed or exception record

• COUNTY
  The county of changed or exception record

• CITY
  The city of changed or exception record
• E
  
  Exceptions are flagged with an * (asterisk). An exception occurs when a location's rates could not be loaded, or when a location was deleted by Vertex. When Vertex deletes a location, the LeasePak Vertex Interface [U0437] does not delete the location from the Location (RLO) and Name (RNM) tables.

• NEW VALUE
  
  The new rate or amount is displayed.
• OLD VALUE
  
  The old rate or amount is displayed.
• EFF DATE
  The effective date of the changed record is displayed.
• DESCRIPTION
  Nature of change

 

Zero Monthly General Ledger Accounts [U0450]

This module zeroes out monthly debits and credits for all General Ledger accounts for each office. It also clears balances in all income and expense accounts (except reserve accounts) on LeasePak's General Ledger. If this module is not executed monthly, the month-to-date debit and credit amounts reflect an accumulation of months' work. Regardless of whether it is executed monthly, this module automatically executes at the end of the year. This provides the ability to store year-to-date totals, instead of month- to-date totals, by suppressing this module on a monthly basis.

Note: A switch on the Custom General update [U0712] may be set to Y so that before sales tax records are zeroed out, they are stored in a separate DTR.SEQ file which is never manually deleted. This may be used for interfacing with tax subsystems.

Skip Comments: If this module is skipped, monthly debits and credits are not cleared for the current month. If a monthly interface to an outside General Ledger system is completed, then next month's General Ledger numbers include the current month's information, effectively double-counting the current month's information.

 

LeasePak  Documentation Suite

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