General Ledger Reconciliation [R0403]

End of Period: This process can be run either interactively through this update or seleted to run as a special month-end version during EOP End of Month. As an EOP module, the process is:

EOP Only	Yes*
Frequency	Monthly
Sequential Updates	No
Skip Notes	No restrictions

*The special month-end version of this report is only available through EOP End of Month, but is otherwise the same as the interactive version, using the same processing but with selection criteria specific to End of Month.

For more information about End of Period, refer to U04 End of Period Overview.

The General Ledger Reconciliation report [R0403] provides a quick means to verify that the system is in balance by comparing General Ledger account balances to the total of the dollar amounts for each lease. This report should be run weekly.

The report may be accessed through the Audit Control report menu [R04] and may be selected interactively for:

All accounting units (portfolio, company, region, office)
A portfolio
A company
A region
An office

The report may be automatically generated for each portfolio at the end of the month through the End of Period update [U0401]. Use the End of Period MODULES AND REPORTS screen under the End of Period Customizations option of the Portfolio update [U0212] to specify whether the report is created.

R0403 will compare the value of the account Assessed Fees (1011) to the R0607 Assessment Receivable Aging for all the assessments that are on cash basis (Accounting Basis ’C’) and all recurring charges that are not escrow (Recurring Charges Type ’E’).

Note: Changing the accounting basis of assessment types or the type of recurring charges after the assessment or recurring charges has been used to invoice an amount in the given portfolio can cause data corruption.

General Ledger Reconciliation Selection

ALL
Enter 'X' to report on all accounting units (portfolio, company, region, and offices). Leave blank to report on a specific portfolio, company, region and/or office.
PORT
Enter the number of the portfolio upon which to report. Leave blank if reporting across portfolios.
COMP
Enter the number of the company upon which to report. Leave blank if reporting across companies.
REGN
Enter the number of the region upon which to report. Leave blank if reporting across regions.
OFFIC
Enter the number of the office upon which to report. Leave blank if reporting across offices.

General Ledger Reconciliation Report

The General Ledger Reconciliation report [R0403] reports at the accounting unit (portfolio, company, region, and office) level and provides the following information:

GENERAL LEDGER ACCOUNT NUMBER
The number assigned to the General Ledger account is displayed.
GENERAL LEDGER ACCOUNT NAME
The name of the General Ledger account is displayed.
GENERAL LEDGER BALANCES
The account balance in each of the General Ledger accounts is displayed.
DETAIL RECORD TOTALS
The associated dollar amount on each lease record is summed and displayed. For accounts such as Inventory or Account Payable, the dollar amount on each asset record is summed and displayed.
DIFFERENCE
The difference between the General Ledger account Balances and the Detail Record Totals is displayed. This field should always be zero (0.00). If not, this DIFFERENCE between the GENERAL LEDGER ACCOUNT and the DETAIL RECORD TOTALS should be reconciled immediately.
TOTALS
Region, company, portfolio, and grand totals for differences are shown for all accounting units. If one or more offices in a region have different names and/or numbers for the same General Ledger account, the NetSol default name and/or number for that account is displayed for the region totals. The same is true for company totals, if region account names and/or numbers are different, and for portfolio totals, if account names and/or numbers vary between companies. An asterisk (*) next to the name or number signifies that the default name or number is displayed. The default G/L account names and numbers are provided by NetSol. Refer to the Office G/L Change update [U0716] for the account names and numbers used by each office and the corresponding NetSol default names and numbers.

The report will also display the unearned balances and suspended income balances for subvention records.

IDRD D/L SUBVENTION 1
Unearned Balances IDRD D/L subvention1 of a particular lease is displayed. This field will only appear if the user has entered amount at the time of portfolio creation.

IDRE D/L SUBVENTION 2
Unearned Balances IDRE D/L subvention2 of a particular lease is displayed. This field will only appear if the user has entered amount at the time of portfolio creation.

IDRF D/L SUBVENTION 3
Unearned Balances IDRF D/L subvention3 of a particular lease is displayed. This field will only appear if the user has entered amount at the time of portfolio creation.

IDRG D/L SUBVENTION 4
Unearned Balances IDRG D/L subvention4 of a particular lease is displayed. This field will only appear if the user has entered amount at the time of portfolio creation.

IDRH D/L SUBVENTION 5
Unearned Balances IDRH D/L subvention5 of a particular lease is displayed. This field will only appear if the user has entered amount at the time of portfolio creation.

IDRD RETAIL SUBVENTION 1
The total IDRD retail subvention1 amount general ledger transaction for each interest bearing loan (IBL) lease is displayed. This field will only appear if the user has entered amount at the time of portfolio creation.

IDRE RETAIL SUBVENTION 2
The total IDRE retail subvention2 amount general ledger transaction for each interest bearing loan (IBL) lease is displayed. This field will only appear if the user has entered amount at the time of portfolio creation.

IDRF RETAIL SUBVENTION 3
The total IDRF retail subvention3 amount general ledger transaction for each interest bearing loan (IBL) lease is displayed. This field will only appear if the user has entered amount at the time of portfolio creation.

IDRG RETAIL SUBVENTION 4
The total IDRG retail subvention4 amount general ledger transaction for each interest bearing loan (IBL) lease is displayed. This field will only appear if the user has entered amount at the time of portfolio creation.

IDRH RETAIL SUBVENTION 5
The total IDRH retail subvention5 amount general ledger transaction for each interest bearing loan (IBL) lease is displayed. This field will only appear if the user has entered amount at the time of portfolio creation.

Additional Information

The following are the General Ledger accounts which may appear on this report:

Contract Receivable
Unguaranteed Residual - precomputed
Lease Income Receivable
Unearned Income
Unearned ITC
Vendor Participation Unearned
Investor Participation Unearned
Vendor Receivable
Security Deposit Payable
Principal Outstanding
Residual - Simple
Principal Receivable
Leased Equipment
Operating Lease Income Receivable
Deferred ITC
Accumulated Depreciation
Unamortized IDC
IDC1 - Unamortized Insurance Premium
IDC2 - Unamortized Notary Fee
IDC3 - Unamortized Dealer (Vendor) Subsidy
IDC4 - Unamortized Opening Commission
IDC8-UNAMORTIZED RESERVES
IDC8-UNAMORT D/L RESERVES
IDC8-UNAMORT D/L-O/L RESERVES
ALT:IDC8-UNAMORT RESERVES
IDC9-UNAMORTIZED RESERVES
IDC9-UNAMORT D/L RESERVES
IDC9-UNAMORT D/L-O/L RESERVES
ALT:IDC9-UNAMORT RESERVES
IDCA-UNAMORTIZED RESERVES
IDCA-UNAMORT D/L RESERVES
IDCA-UNAMORT D/L-O/L RESERVES
ALT:IDCA-UNAMORT RESERVES
IDCB-UNAMORTIZED RESERVES
IDCB-UNAMORT D/L RESERVES
IDCB-UNAMORT D/L-O/L RESERVES
ALT:IDCB-UNAMORT RESERVES
IDCC-UNAMORTIZED RESERVES
IDCC-UNAMORT D/L RESERVES
IDCC-UNAMORT D/L-O/L RESERVES
ALT:IDCC-UNAMORT RESERVES
IDCD-UNAMORTIZED RESERVES
IDCD-UNAMORT D/L RESERVES
IDCD-UNAMORT D/L-O/L RESERVES
ALT:IDCD-UNAMORT RESERVES
IDCE-UNAMORTIZED RESERVES
IDCE-UNAMORT D/L RESERVES
IDCE-UNAMORT D/L-O/L RESERVES
ALT:IDCE-UNAMORT RESERVES
IDCF-UNAMORTIZED RESERVES
IDCF-UNAMORT D/L RESERVES
IDCF-UNAMORT D/L-O/L RESERVES
ALT:IDCF-UNAMORT RESERVES
IDCG-UNAMORTIZED RESERVES
IDCG-UNAMORT D/L RESERVES
IDCG-UNAMORT D/L-O/L RESERVES
ALT:IDCG-UNAMORT RESERVES
IDCH-UNAMORTIZED RESERVES
IDCH-UNAMORT D/L RESERVES
IDCH-UNAMORT D/L-O/L RESERVES
ALT:IDCH-UNAMORT RESERVES
Unbilled Operating Lease Income
Unbilled Operating Lease Receivable
Deferred Operating Lease Revenue
Inventory
Accounts Payable
Deferred Extension Income
Deferred Residual Reduction
Suspended Income Receivable (unbilled)
Suspended Income Accrued
Suspended IDC
Unearned Residual
Residual Income Accrued PTD
Assessed Fees
Vendor Participation Payable
Investor Participation Paybale
Use Tax Payable
Assmet Payable - PTAX
Assmt Payable - FHUT
IDRD D/L Subvention1
IDRE D/L Subvention2
IDRF D/L Subvention3
IDRG D/L Subvention4
IDRH D/L Subvention5
IDRD Retail Subvention1
IDRE Retail Subvention2
IDRF Retail Subvention3
IDRG Retail Subvention4
IDRH Retail Subvention5

Accumulated Supplemental Depreciation

All IDC fields will only appear when Enhanced IDC/IDR module is purchased.

A General Ledger account does not appear on the report if there is no General Ledger balance and no detail record total.

Extract File

Report R0403 General Ledger Reconciliation will create an extract file in the same directory as the other reports are in today's practice. LeasePak will name this file as a lpr0403_extract.csv.

Extract File Format

The extract file contains the column headers in the first row as follows:

“P”, “C”, “R”, “O”, “GL NAME”, “GL BALANCE”, “TRANSACTION TOTAL”, “DIFFERENCE”

Each row of the reported data on the R0403 report will be extracted to a separate line in the extract file. The extract file will display the each piece of information with double quotes and separates each piece of information by a comma.

Example:

“2”, “1”, “1”, “1”, “1011”, “ASSESSED FEES”, “1023.00”, “1023.00”, “0.00”
“2”, “1”, “1”, “1”, “4053”, “USE TAX PAYABLE”, “-0.60”, “0.00”, “-0.60”
“2”, “1”, “1”, “2”, “1011”, “ASSESSED FEES”, “0.00”, “0.00”, “0.00”
“2”, “1”, “1”, “2”, “4053”, “USE TAX PAYABLE”, “0.00”, “0.00”, “0.00”

Following are the General Ledger accounts, which may appear on this report:

The following general ledger accounts for pre-computed leases. The database fields can be found in the rls Lease and req Asset tables. (or their appropriate overflow tables).
IDC6 - UNAMORT D/L DEALER BONUS
IDC6 - D/L DEALER BONUS PAYABLE
IDC6 - D/L SUSP DEALER BONUS

Following are the general ledger accounts for operating leases. The database fields can be found in the rls Lease and req Asset tables. (or their appropriate overflow tables).

IDC6 - UNAMORT O/L DEALER BONUS
IDC6 - O/L DEALER BONUS PAYABLE
IDC6 - O/L SUSP DEALER BONUS

Following are the general ledger accounts for interest bearing loans. The database fields can be found in the rls Lease and req Asset tables. (or their appropriate overflow tables).

IDC6 - UNAMORT DEALER BONUS
IDC6 - DEALER BONUS PAYABLE
IDC6 - SUS DEALER BONUS

Following are the General Ledger accounts to include the unamortized dealer reserve, which may appear on this report:

The following general ledger accounts are for pre-computed leases. Database fields can be found in the rls Lease and req Asset tables. (or their appropriate overflow tables).

IDC7 - UNAMORT D/L DEALER RESERVE
IDC7 - D/L DEALER RESERVE PAYABLE
IDC7 - D/L SUSP DEALER RESERVE

Following are the general ledger accounts for operating leases. Database fields can be found in the rls Lease and req Asset tables. (or their appropriate overflow tables).

IDC7 - UNAMORT O/L DEALER RESERVE
IDC7 - O/L DEALER RESERVE PAYABLE
IDC7 - O/L SUSP DEALER RESERVE

Following are the general ledger accounts for interest bearing loans. Database fields can be found in the rls Lease and req Asset tables. (or their appropriate overflow tables).

IDC7 - UNAMORT DEALER RESERVE
IDC7 - DEALER RESERVE PAYABLE
IDC7 - SUSP DEALER RESERVE

Following are the general ledger accounts for additional IDCs (IDC8, IDC9, and IDCA-IDCH) fields of Enhanced IDC/IDCR:

IDC8-UNAMORTIZED RESERVES
IDC8-UNAMORT D/L RESERVES
IDC8-UNAMORT D/L-O/L RESERVES
ALT:IDC8-UNAMORT RESERVES
IDC9-UNAMORTIZED RESERVES
IDC9-UNAMORT D/L RESERVES
IDC9-UNAMORT D/L-O/L RESERVES
ALT:IDC9-UNAMORT RESERVES
IDCA-UNAMORTIZED RESERVES
IDCA-UNAMORT D/L RESERVES
IDCA-UNAMORT D/L-O/L RESERVES
ALT:IDCA-UNAMORT RESERVES
IDCB-UNAMORTIZED RESERVES
IDCB-UNAMORT D/L RESERVES
IDCB-UNAMORT D/L-O/L RESERVES
ALT:IDCB-UNAMORT RESERVES
IDCC-UNAMORTIZED RESERVES
IDCC-UNAMORT D/L RESERVES
IDCC-UNAMORT D/L-O/L RESERVES
ALT:IDCC-UNAMORT RESERVES
IDCD-UNAMORTIZED RESERVES
IDCD-UNAMORT D/L RESERVES
IDCD-UNAMORT D/L-O/L RESERVES
ALT:IDCD-UNAMORT RESERVES
IDCE-UNAMORTIZED RESERVES
IDCE-UNAMORT D/L RESERVES
IDCE-UNAMORT D/L-O/L RESERVES
ALT:IDCE-UNAMORT RESERVES
IDCF-UNAMORTIZED RESERVES
IDCF-UNAMORT D/L RESERVES
IDCF-UNAMORT D/L-O/L RESERVES
ALT:IDCF-UNAMORT RESERVES
IDCG-UNAMORTIZED RESERVES
IDCG-UNAMORT D/L RESERVES
IDCG-UNAMORT D/L-O/L RESERVES
ALT:IDCG-UNAMORT RESERVES
IDCH-UNAMORTIZED RESERVES
IDCH-UNAMORT D/L RESERVES
IDCH-UNAMORT D/L-O/L RESERVES
ALT:IDCH-UNAMORT RESERVES

UNAMORTIZED IDC COST - ASC 842
SUSPENDED IDC ACCRUED - ASC 842
DEFERED IDC AMORTIZATION - ASC 842
DEFERED SUSP IDC ACCRUED - ASC 842

The information contained in this document is the property of NetSol Technologies Inc. Use of the information contained herein is restricted. Conditions of use are subject to change without notice. NetSol Technologies Inc. assumes no liability for any inaccuracy that may appear in this document; the contents of this document do not constitute a promise or warranty. The software described in this document is furnished under license and may be used or copied only in accordance with the terms of said license. Unauthorized use, alteration, or reproduction of this document without the written consent of NetSol Technologies Inc. is prohibited.

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