Included Payoff Calculations
Payoff Info works with precomputed leases 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 NetSol representative.
NetSol supplies five payoff calculations: Buyout, Upgrade/Keep, Upgrade/Return, Payoff/Return, and Vendor 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]
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.
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.
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]
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]
(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
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:
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 Documentation Suite
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