Admin Addr Terms Payment Information Asset Sum Asset Det App Hist Lse Hist Cur Out Bal Doc Track Stat Hist UDF/T Notebook

Application Inquiry [R0502]

• Administration Information
• Address Information
• Terms of Application
• Payment Information
• Asset Summary
• Asset Detail
• Asset Payment Schedule



• Application History
• Lease History
• Current Outstanding Balance
• Document Tracking
• Status History
• User Defined Fields/Tables
• Notebook Report

 

Introduction

The Application Inquiry [R0502] provides a review of all information on file for a specific application, including asset information, status history for the application, notebook review, historical information for the lessee, and existing and closed leases for the lessee. It may be used for research, customer service, and review. The report can be accessed either through the LeasePak Reports menu, Application option or by entering R0502 into the Fast Menu <F2>.

 

This screen is used to select the application to report on, as well as which parts of the report to produce.

Field Descriptions

• APPLICATION
  This is the application number on which to report. The application must already be entered into LeasePak. Use Help for Client Search to select a client (customer, lessee, vendor, etc.) and then see a list of valid application numbers for that client.
  
  
• ALL
  Enter X to report on all the information available. Leave blank to report on a subset of the information.
  
  
• ADMINISTRATION INFORMATION
  Enter X to report on miscellaneous administration information, such as application type, office, vendor, broker, customer, and salesperson information. Leave blank to exclude this information from the report.
  
  
• ADDRESS INFORMATION
  Enter X to report on the address and miscellaneous information for the associated clients established for the application, such as lessee, co-lessee, guarantor, references (bank, trade, and personal), previous and current employer, and miscellaneous addresses (mailing, billing, previous and other). Leave blank to exclude this information from the report.
  
  
• TERMS OF APPLICATION
  Enter X to report on the terms of the application. All relevant lease booking information is shown in this section. Leave blank to exclude this information from the report.
  
  
• ASSET SUMMARY
  Enter X to report on the asset information for the application in a summarized format. Leave blank to exclude this information from the report.
  
  
• ASSET DETAIL
  Enter X to report on the asset information for the application in detail. Leave blank to exclude this information from the report.
  
  
• APPLICATION HISTORY
  Enter X to report on all applications (except those which have already been booked) for the lessee. Leave blank to exclude this information from the report.
  
  
• LEASE HISTORY
  Enter X to report on all existing leases and previous leases for the lessee. Leave blank to exclude this information from the report.
  
  
• CURRENT OUTSTANDING BALANCE
  Enter X to report on current outstanding balances information for all clients that have a financial connection with the application. Leave blank to exclude this information from the report.
  
  
• DELINQUENCY AGING
  Enter X to report on all delinquency aging information for all clients that have a financial connection with the application. Leave blank to exclude this information from the report.
  
  
• CREDIT LIMITS
  Enter X to report on the customer and lessee credit limits. Leave blank to exclude this information from the report.
  
  (The following option is legacy only, no longer in use.)
• DOCUMENT TRACKING
  Enter X to report on the document tracking information for the application. Leave blank to exclude this information from the report.
  
  
• STATUS HISTORY
  Enter X to report on the status changes for the application. Leave blank to exclude this information from the report.
  
  
• USER DEFINED FIELDS/TABLES
  Enter X to report on the user defined field and/or table information for the application. Leave blank to exclude this information from the report. This option does not appear if the User Defined Fields/Tables module is not purchased, or if no User Defined Fields and Table columns are defined at the application level through the User Defined Fields/Tables option of the Portfolio update [U0212].
  
  
• NOTEBOOK REPORT
  Enter X to report on all notes for an application. It may be used to review all comments, actions, problems, and concerns for an application. Leave blank to exclude this information from the report.

 

Administration Information

This section, which begins the report, displays accounting and client keys for the application.

Field Descriptions

• PORTFOLIO
  The portfolio number and name for the application are displayed.
  
  
• COMPANY
  The company number and name for the application are displayed.
  
  
• REGION
  The region number and name for the application are displayed.
  
  
• OFFICE
  The office number and name for the application are displayed.
  
  
• CUSTOMER
  The customer number and name, if any, are displayed.
  
  
• PARENT CUSTOMER
  The number and name of the parent customer, if any, for the CUSTOMER above are displayed.
  
  
• VENDOR
  The vendor number, name, contact, and contact phone number for the application are displayed.
  
  
• BROKER
  The broker number, name, contact, and contact phone number for the application are displayed.
  
  
• INVESTOR
  The investor number, name, contact, and contact phone number for the application are displayed.
  
  
• ENTRY DATE/TIME
  The date and time that the application was established are displayed.
  
  
• FINAN STMT DATE
  The date on which new financial statements for the lessee should be submitted is displayed.
  
  
• APPROVAL EXP DATE
  The approval expiration date, if the application is approved, is displayed.
  
  
• APPLICATION STAT
  The current status of the application is displayed.
  
  
• APPLICATION TYPE
  The application type NEW is displayed.
  
  
• BUSINESS/PERSONAL
  BUSINESS is displayed for business lease applications. PERSONAL is displayed for individual or personal lease applications.
  
  
• DEFAULT APPLICATN
  The default application number, if one was used, is displayed.
  
  
• OWNER
  The initials of the current owner of the application are displayed.
  
  
• SOURCE CODE
  The origin of the application/lease (e.g., direct, indirect, broker) is displayed. Application/lease source codes are established through the Custom Code update [U0722].
  
  
• MARKET CODE
  The market code for the application is displayed. Market codes are defined through the Custom Code update [U0722].
  
  
• ACCOUNT CODE
  The account code for this application is displayed. Account codes are established through the Custom Code update [U0722].
  
  
• VENDOR STATUS
  The activity status of the vendor is displayed.
  
  
• SALESPERSON
  A list of the salespersons responsible for the application is displayed.
  
  
• DOLLAR%
  The percentages of the dollar splits to be used for the salesperson commission calculation are displayed. This information is typically used for splitting commission amounts. It is reported on the Salesperson Commission report [R0204] and may also be used for custom commission calculations.
  
  
• VOLUME%
  The percentage of the volume split to be used when calculating salesperson commissions is displayed. This field is typically used for splitting booking volume credit. It is informational only, and may be used for custom commission calculations.
  
  
• POOL ID
  The pool ID information for the application is displayed.

 

Address Information

The Address section of the report displays fields for addresses associated with the application. Most of these address are optional and may or may not contain field values.

 

Address Information: Lessee

This is the main lessee address. The Field Descriptions below includes all fields displayed here.

Note: Subsequent Address Information Field Descriptions will only include fields that are unique to that particular address type.

Field Descriptions

• LESSEE
  The client id number of the lessee.
  
  
• SHORT NAME
  The short name for the lessee/co-lessee/guarantor is displayed.
  
  
• DEF PORT
  The default portfolio, company, region, and office of lessee is displayed.
  
  
• NAME
  The long name for the lessee is displayed.
  
  
• ADDRESS 1
  The first address line for the address type is displayed.
  
  
• ADDRESS 2
  The second address line, if any, for the address type is displayed.
  
  
• CITY
  The city for the address type is displayed.
  
  
• STATE
  The state or province for the address type is displayed.
  
  
• ZIP
  The ZIP or postal code for the address type is displayed.
  
  
• REMIT ADDR
  The remittance address code and description are displayed.
  
  
• DBA NAME
  The DBA (Doing Business As) alias for this lessee is displayed.
  
  
• CONTACT
  The name of the contact person for the address type is displayed.
  
  
• CONT TITLE
  The title of the contact person for the address type is displayed.
  
  
• SIGNER
  The name of the person who will be the authorized signer of all lease documents is displayed.
  
  
• SIGNER TITLE
  The title of the person who will be the authorized signer of all lease documents is displayed.
  
  
• LETTER VER
  The letter version code is displayed.
  
  
• LAST MOD
  The initials of the operator who made the last change to this address type, as well as the date of the change, is displayed.
  
  
• SS/BUS ID
  The social security or business identification number for the address type is displayed.
  
  
• PHONE
  The business phone for the address type is displayed.
  
  
• HOME PHONE
  The home phone for the address type is displayed.
  
  
• SALUTATION
  The salutation for this lessee is displayed.
  
  
• REMIT ADDR
  The code for the remittance address is displayed. The remittance address is the address printed in the REMIT TO section of an invoice.
  
  
• TYPE OF BUS
  The code indicating the type of business for this client is displayed (e.g., proprietorship, partnership, corporation, etc.).
  
  
• DATE ESTABL
  The date in MM/YYYY or MM/YYYY format, depending on the Date Format Preference field in Security [U0706], the business was established is displayed.
  
  
• CUR OWNRSHP
  The date, in MM/YYYY or MM/YYYY format, depending on the Date Format Preference field in Security [U0706],of current ownership is displayed.
  
  
• TX EXEMPT NO
  The tax exempt certificate number for the lessee/co-lessee, if any, is displayed.
  
  
• SIC CODE
  The Standard Industry Code for the lessee/co-lessee is displayed.
  
  
• BUS DESC
  The type of business is displayed.
  
  
• DATE INCOR
  The date in MM/DD/YYYY or DD/MM/YYYY format, depending on the Date Format Preference field in Security [U0706],the business of the address type was incorporated is displayed.
  
  
• STATE INCO
  The state in which the business of the address type was incorporated is displayed.
  
  
• DRAWDOWN CRDT LIM
  The lessee's drawdown credit limit is displayed.
  
  
• DRAWDOWN EXP DATE
  The lessee's drawdown credit limit expiration date is displayed.
  
  
• REVOLV. CRDT LIM
  The lessee's revolving credit limit amount is displayed.
  
  
• REVOLV. EXP DATE
  The lessee's revolving credit limit expiration date is displayed.
  
  
• AUTO-APPRV LIM
  The auto-approval credit limit for this lessee is displayed. This limit allows a privileged user to approve, without credit investigation, any lease that is less than this limit. AUTO-APPROV LIMIT may be zero, indicating auto-approval is not allowed for this lessee.
  
  
• FIN STMT DATE
  The lessee/co-lessee financial statement date is displayed in MM/DD/YYYY format. This date can be used to represent the date on which the lessee is required to submit new financial statements, or the date financial statements were last received from this lessee. This field is informational only.

Note:The following fields will appear on this report Address Information section for each lessee, co-lessee, and guarantor attached to the application.

• ACTIVITY STATUS
  The activity status for the lessee, co-lessee, or guarantor is displayed.
  
  
• ADDRESS TYPE
  The client’s address type is displayed as defined for credit bureau reporting of Metro 2 field Address Indicator.
  
  
• ADDRESS STATUS
  The client address status is displayed as defined for credit bureau reporting of Metro 2 field Address Indicator.
  
  
• CONFIRMED DATE/TIME
  The date and time is displayed as of when a user last entered Address Status 'C' (Confirmed/verified). The format of the date will be as of settings of date format will either be MM/DD/YY or DD/MM/YY, depending on the User's Date Format Preference from U0706 Security.
  
  
• BUSINESS
  The client's business status is displayed. Whether the client is reportable to the credit bureau as a business (typically a Corporation, S Corporation, or LLC) or a consumer (typically an individual, Sole Proprietorship, or Partnership).
  
  
• RESIDENCE TYPE
  The client’s residence type is displayed.

 

Address Information: Co-Lessee

The co-lessee is entered as a separate lessee through the Lessee update [U0203] prior to being attached to the application.

Field Descriptions

• BIRTHDATE
  The birth date is displayed in MM/DD/YYYY or DD/MM/YYYY format, depending on the Date Format Preference field in Security [U0706]. It may be incomplete.
  
  
• AGE
  The age of the co-lessee is displayed.
  
  
• MARITAL ST
  The marital status is displayed.
  
  
• # DEPENDTS
  The number of dependents is displayed.
  
  
• LENGTH OF RESID
  The length of residence (in years and months) is displayed.
  
  
• RESID TYPE
  The residence ownership status code (e.g., own, rent, other) is displayed.
  
  
• MONTHLY PAYMENT
  The sum total of any monthly payment commitments is displayed.

 

Address Information: Guarantor

The guarantor information is entered using the Guarantor update [U0217] prior to the guarantor being attached to the application.

 

Address Information: Personal Reference

The personal reference information is entered as part of the main lessee.

Field Descriptions

• REGARDING
  The Short Name of the client to whom this reference pertains.
  
  
• RGD CLIENT
  The client id number of the client to whom this reference pertains.
  
  
• REF STAT
  The reference status code for the reference address type is displayed. This code may be used to rate the reference (e.g., whether it is good, bad, etc.), or to indicate if the reference check was completed. The date REF STAT was last changed is displayed next to the reference status code.

 

Address Information: Bank Reference

The bank reference is entered as part of the main lessee.

Field Descriptions

• ACCT #
  The bank or trade reference account number for the lessee/co-lessee/guarantor is displayed.
  
  
• ACCT TYPE
  The code indicating the type of the account (e.g., savings, checking, etc.) is displayed.
  
  
• ACCT STAT
  The code indicating the status of the lessee's account (e.g., favorable, unfavorable, etc.) is displayed.
  
  
• DATE OPEN
  The date the account was opened is displayed.
  
  
• SECURED
  Y/N is displayed to indicate whether the account is secured by collateral. U is displayed if the secured status of the account is unknown.
  
  
• PERS GUAR
  Y/N is displayed to indicate whether the account is personally guaranteed. U is displayed if the personal guarantee status is unknown.
  
  
• LOAN TERM
  The term of the loan in number of months is displayed.
  
  
• OUTS BAL
  The outstanding balance of the lessee/co-lessee/guarantor's account is displayed.
  
  
• AVG BAL
  The average balance of the lessee/co-lessee/guarantor's account is displayed.
  
  
• HIGH BAL
  The highest balance of the lessee/co-lessee/guarantor's account is displayed.
  
  
• LOW BAL
  The lowest balance of the lessee/co-lessee/guarantor's account is displayed.

 

Address Information: Trade Reference

The trade reference is entered as part of the main lessee.

Field Descriptions

• TERMS
  A code indicating the applicant's accounts payable status (e.g., net 30, net 60, net 90, COD, discount, etc.) is displayed.
  
  
• PMT RECORD
  This code describes the payment history of the person or business (e.g., prompt, slow 30, slow 60, slow 90, etc.).
  
  
• YRS IN BUS
  The number of years that the lessee/co-lessee/guarantor has been doing business is displayed.

 

Address Information: Professional Reference

The professional reference is entered as part of the main lessee.

Field Descriptions

• PROFESSION
  The type of professional reference (e.g., lawyer, doctor, etc.) is displayed.
  
  
• IN GOOD STAND
  Y is displayed if the lessee/co-lessee/guarantor is in good standing with the professional reference. Otherwise, N is displayed.
  
  
• SINCE
  The lessee/co-lessee/guarantor has been (or has not been) in good standing with the professional reference since this year.

 

Address Information: Other/Previous

The other/previous address is entered as part of the main lessee.

Field Descriptions

• LEN OF RES
  The number of years and months in residence at the address is displayed.
  
  
• NOTE 1
  The first line of an additional comment or note for the lessee/co-lessee/guarantor is displayed.
  
  
• NOTE 2
  The second line of an additional comment or note for the lessee/co-lessee/guarantor is displayed.
  
  
• ID
  The miscellaneous ID associated with the lessee/co-lessee/guarantor is displayed.

 

Address Information: Employment 1

The Employment 1 information is entered as part of the main lessee.

Field Descriptions

• POSITION
  The employment position or job title of the lessee/co-lessee/guarantor is displayed.
  
  
• LEN OF EMP
  The number of months and years the lessee/co-lessee/guarantor has been employed at the address type is displayed.
  
  
• MON SALARY
  The monthly salary of the lessee/co-lessee/guarantor is displayed.
  
  
• ADD INCOME
  Any additional income for the lessee/co-lessee/guarantor is displayed.
  
  
• INC SOURCE
  The source of the additional income (e.g., interest income, alimony, child support, etc.) is displayed. Note that additional income source could also have been stored on the NOTEBOOK.

 

Address Information: Previous Employment

The previous employment information is entered as part of the main lessee.

 

Address Information: Lessee Billing

If filled in, this is the invoicing address. It is entered as part of the main lessee. If not filled in, invoicing defaults to the main lessee address.

 

Address Information: Individual Application (Lease) Address

This address can be different for each application attached to a lessee. It is entered as part of the application, not the lessee.

 

Address Information: Individual Application (Lease) Billing Address

The application can be set to use this address for invoicing in place of the lessee billing or main address. Refer to the application field Billing Level for more information.

 

Terms of Application

This section of the report contains information pertaining to the agreement terms of the application.

 

Terms of Application: General

The first part of the section contains general terms information.

Field Descriptions

• ACQUISITION COST
  The original acquisition cost (excluding tax, charges or fees) is displayed.
  
  
• OTHER CHARGES
  Other charges, including miscellaneous charges associated with the lease or asset(s), are displayed.
  
  
• RESIDUAL AMOUNT
  The total residual (guaranteed + unguaranteed) of all assets attached to the application is displayed.
  
  
• RESIDUAL%
  The percentage of the acquisition cost that will be used to calculate the total estimated market value of the assets at the end of the lease is displayed.
  
  
• TERM (MONTHS)
  The term of the application in months is displayed.
  
  
• ACCRUAL/BILLING CYCLE
  The accrual/billing cycle for the application is displayed.
  
  
• CONTRACT TYPE
  The type of lease (e.g., finance, conditional sales, etc.) is displayed.
  
  
• BAD DEBT %
  The bad debt percentage recorded for the lease is displayed.
  
  
• BROKER PMT METHOD
  Method of payment to the broker (e.g., built in principal, built in rate, or no broker) is displayed.
  
  
• BROKER FEE
  The amount of the broker fee is displayed. The broker fee may be considered a part of initial direct costs.
  
  
• DOCUMENTATION FEE
  The documentation fee is displayed. The DOCUMENTATION FEE is accounted for as initial direct costs.
  
  
• SECURITY DEPOSIT
  Any refundable security deposit held for the lessee is displayed.
  
  
• DOWN PAYMENT
  The down payment for the lease is displayed. The full amount of the down payment immediately reduces the net investment of the lease. If Down Payment is informational only, this field will not be populated with the Down Payment amount entered for the lease. The TOTAL DOWN PAYMENT field in the report will default the informational down payment amount.

  Note: If the DOWN PAYMENT IS INFORMATIONAL ONLY switch in Miscellaneous Customization option of the Portfolio update is set to Y, this field may be informational only and have no impact on calculation of yields, payments, invoices or G/L transactions.

 

• INTERIM RENT
  The interim rent (prorate payment) is displayed. It may be used to represent the rental income for the partial period between the lease date and the commencement (first payment) date. It is an amount due at lease commencement.
  
  
• GUAR RESIDUAL
  The guaranteed portion of the total residual for the lease, if any, is displayed.
  
  
• IN HOUSE FEE
  The in-house fee is displayed. IN-HOUSE FEE is informational only and does not affect the capitalized cost of the lease.
  
  
• MARK UP
  The mark up of the asset is displayed. MARK UP is informational only and does not affect the capitalized cost of the lease.
  
  
• UPFRONT SAL TAX
  The amount of sales tax to be paid up-front is displayed.
  
  
• UPFRONT TX CODE
  The upfront sales tax code is displayed.
  
  
• INS PREMIUM
  The total insurance premium paid to the broker for all assets is displayed.
  
  
• INS PREMIUM BRK
  The Broker code for the broker to which insurance premium was paid
  
  
• NOTARY FEE
  The notary fee paid to the broker is displayed.
  
  
• NOTARY FEE BRK
  The Broker code for the broker to whom notary fee was paid
  
  
• REGISTRATION FEE
  The registration fee receivable is displayed.
  
  
• VENDOR SUBSIDY
  The vendor subsidy receivable is displayed.
  
  
• OPENING COMMISSION
  The opening commission receivable is displayed.
  
  
• FIXED RATE RESERVES
  The IDC3- Fixed Rate Reserve total amount for the lease is displayed.
  
  
• STANDARD RESERVES
  The IDC4 - Standard Reserve total amount for the lease is displayed.
  
  
• GUARANTEED RESERVES
  The IDC5 - Guaranteed Reserves total amount for the lease is displayed.
  
  
• IDC8 RESERVE IDC
  The IDC8 - Reserves IDC8 total amount for the lease is displayed.
  
  
• IDC9 RESERVE IDC
  The IDC9 - Reserves IDC9 total amount for the lease is displayed.
  
  
• IDCA RESERVE IDC
  The IDCA - Reserves IDCA total amount for the lease is displayed.
  
  
• IDCB RESERVE IDC
  The IDCB - Reserves IDCB total amount for the lease is displayed.
  
  
• IDCC RESERVE IDC
  The IDCC - Reserves IDCC total amount for the lease is displayed.
  
  
• IDCD RESERVE IDC
  The IDCD - Reserves IDCD total amount for the lease is displayed.
  
  
• IDCE RESERVE IDC
  The IDCE - Reserves IDCE total amount for the lease is displayed.
  
  
• IDCF RESERVE IDC
  The IDCF - Reserves IDCF total amount for the lease is displayed.
  
  
• IDCG RESERVE IDC
  The IDCG - Reserves IDCG total amount for the lease is displayed.
  
  
• IDCH - RESERVE IDC
  The IDCH Reserves IDCH total amount for the lease is displayed.
  
  
• SUBVENTION
  The total IDR5 - Subvention amount for the lease is displayed.
  
  
• DEALER BONUS
  The total dealer bonus amount is displayed for the application. This field will only appear if the Enhanced IDC/IDR module is purchased. This amount will be the sum of dealer bonus amounts of assets tied to an application.
  
  
• DEALER RESERVE
  The total dealer reserve amount is displayed for the application. This field will only appear if the Enhanced IDC/IDR module is purchased. This amount will be the sum of dealer reserve amounts of an assets tied to an application.
  
  
• DEALER BUY DOWN
  The total IDR6 - Dealer Buy Down amount for the lease is displayed.
  
  
• CREDIT LIFE INSURANCE 1
  The total IDR7 - Credit Life Insurance 1 amount for the lease is displayed.
  
  
• CREDIT LIFE INSURANCE 2
  The total IDR8 - Credit Life Insurance 2 amount for the lease is displayed.
  
  
• CR DISIBILITY INS 1
  The total IDR9 - Credit Disability 1 amount for the lease is displayed.
  
  
• CR DISABILITY INS 2
  The total IDRA - Credit Disability Insurance 2 amount for the lease is displayed.
  
  
• ACQUISITION FEE
  The total IDRB -Acquisition Fee amount for the lease is displayed.
  
  
• WARRANTY FEE
  The total IDRC - Warranty Insurance Fee amount for the lease is displayed.

• ORIG DLR PMTS
  Shows the original dealer payment amount.

• BANK OVERRIDE
  Shows the account number specified for dealer payments.

• PRINCIPLE WRITE-DOWN
  Shows whether principle write-down is selected for this application.
  
  
• EXCESS MSRP
  The total MSRP fee for the lease is displayed.

  Note: The additional IDC/IDR fields appear when the Enhanced IDC/IDR module is purchased and IDC/IDR fees are entered on the lease.

• COMPENSATION AMT
  The amount of the compensation paid by the vendor to their salesperson is displayed. This amount is informational only.
  
  
• TRADE-IN
  The trade-in value for the asset(s) is displayed. The trade-in is informational only.
  
  
• TRADE-IN DESCRIP
  A description of the trade-in, if any, is displayed.
  
  
• LEASE DESCRIPTION
  The description of the lease is displayed.
  
  
• ADV MONEY RECVD
  The total amount of advance money received for the application is displayed.
  
  
• REFUNDABLE
  Y is displayed if the advance money received is refundable upon rejection or withdrawal. N is displayed if the lessor retains the advance money received.
  
  
• RATE PLAN
  The rate plan used for the application, if any, is displayed.
  
  
• PURCHASE OPTION
  The purchase option method (e.g., percentage, calculated, fixed, etc.) is displayed.
  
  
• PURCH OPT OWNER
  The purchase option owner code (e.g., investor, lessor, etc.) is displayed.
  
  
• SUBVENT 1
  The total subvent1 – Subvention1 amount for the lease is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• SUBVENT 2
  The total subvent2 – Subvention2 amount for the lease is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• SUBVENT 3
  The total subvent3 – Subvention3 amount for the lease is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• SUBVENT 4
  The total subvent4 – Subvention4 amount for the lease is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• SUBVENT 5
  The total subvent5 – Subvention5 amount for the lease is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• PREPAID LEASE
  The status of a prepaid lease is displayed. The report will display 'Y' if a lease is a prepaid lease and 'N' if lease is not a prepaid lease. A lease is a prepaid lease when the client makes a single payment for the full lease amount or otherwise prepays the entire lease.
  
  

 

Terms of Application: Precomputed/Operating, Factor and Yield

For precomputed and operating leases, the next part displays factor and yield information.

Field Descriptions

• LEASE ACCRUAL METHOD
  The income recognition accrual method for the lease is displayed.

• LEASE FACTOR
  This field only applies to precomputed accrual methods. Lease factor is calculated as either a payment factor or rental income factor, depending on the LEASE FACTOR SWITCH (P/R) in the Miscellaneous Customizations option of the Portfolio update [U0212]:
  
  
• Payment Factor (or lease rate factor):

  AVERAGE MONTHLY PAYMENT AMOUNT
  / ACQUISITION COST

• Rental Income Factor:

  AVERAGE MONTHLY RENTAL INCOME
  / CAPITALIZED COST + RESIDUAL

• LEASE YIELD
  The calculated internal rate of return (IRR) for the lessor is displayed. This yield is used to determine the income accrual for level yield (APR) leases. It is calculated for all precomputed interest leases, for fixed term operating leases and for certain special simple interest floating rate leases. Refer to the Calculations document for more information on the calculation of IRR.
  
  
• VENDOR NUMBER
  The vendor number is displayed.

• VENDOR ACCRUAL METHOD
  The vendor accrual method is displayed if the vendor participates in the lease income.

• VENDOR FACTOR
  The vendor's portion of the contract rate is displayed. This information is applicable for precomputed interest leases only. This rate is calculated using the following computation:

AVERAGE MONTHLY RENTAL INCOME (VENDOR)
/ (CAPITALIZED COST + RESIDUAL)

• VENDOR YIELD
  The calculated internal rate of return for the vendor is displayed. This field is not applicable if the vendor is participating in a percentage of the lease payment.
  
  
• INVESTOR NUMBER
  The investor number, if any, is displayed.

• INVESTOR ACCRUAL
  The investor accrual method, if the investor participates in lease income, is displayed.

• INVESTOR FACTOR
  The investor's portion of the contract rate is displayed. This information is applicable for precomputed interest leases only. This rate is calculated using the following computation:

AVERAGE MONTHLY RENTAL INCOME (INVESTOR)
/ (CAPITALIZED COST + RESIDUAL)

• INVESTOR YIELD
  The calculated internal rate of return for the investor is displayed.

 

Terms of Application: Simple Interest/Interest Bearing Loan, Rates

For simple interest leases and interest bearing loans, rate information will be displayed instead of factor and yield information.

Field Descriptions

• FIXED RATE
  The fixed rate (for simple interest fixed accrual methods only) is displayed.

• ADD-ON RATE
  The add-on rate (for simple interest floating accrual methods only) is displayed.
  
  
• FLOAT INDEX
  The index or base rate (for simple interest floating accrual methods only) is displayed.

• INDEX NAME
  The name of the index rate to which the simple interest floating rate method is tied is displayed.

• FLOAT FLOOR
  The minimum interest rate (for simple interest floating accrual methods only) is displayed.

• FLOAT CEILING
  The maximum interest rate (for simple interest floating accrual methods only) is displayed.

• RATE AT COMMENCE
  The index or base rate as of the commencement date is displayed.

• INTEREST FREE MONTHS
  The number of interest-free months from the commencement date, if any. The lessee will not be charged interest for the number of months entered here. After this interest-free period has passed, LeasePak will resume calculating interest using the fixed or floating rate plus add-on interest rate that is attached to the interest bearing loan.

 

Terms of Application: Payment Schedule

Next, the payment schedule is displayed.

Field Descriptions

• SCHEDULE
  The starting and ending payments for each payment schedule line are displayed.

• NUMBER
  The number of payments at each payment frequency is displayed.

• FREQUENCY
  The frequency of the payments (e.g., monthly, advance monthly, skip, quarterly) is displayed.

• PAYMENT AMOUNT
  The payment amount at each payment frequency (excluding use tax) is displayed.

For detailed description of how payment frequency works for payment schedule, see Payment Schedule overview document.

 

Terms of Application: Additional Information

Dates and other information is displayed.

Field Descriptions

• CONTRACT DATE
  The date of the lease is displayed. Generally, the contract date is the date on which the lease documents were signed by the lessee.

• COMMENCEMENT DATE
  The commencement date of the lease is displayed. The LEASE COMMENCEMENT DATE to the MATURITY DATE equals the LEASE TERM. The lease must commence on the lease's payment due day.

• PAYMENT START DATE
  The payment start date of the lease is displayed.

• MATURITY DATE
  The maturity date of the lease is displayed.
  
  
• CONTRACT END DATE
  Shows the contract end date for the an Interest Bearing Loan.

• DOC COMPLETE DATE
  The date on which all documentation requirements have been met is displayed. This field is informational only.
  
  
• DISBURSEMENT DATE
  The date on which funds for payment for the leased vehicle/equipment are to be released is displayed.

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

• LEASE FORM CODE
  The lease form code and its description are displayed. The lease form code associates additional parameters to the lease, such as payoff and termination information, insurance requirements, and late charge information.

• PRODUCT TYPE CODE
  The product type code is displayed.

• LATE CHARGE CODE
  The method of late charge calculation is displayed.

• LATE CHARGE INDEX
  The index to be used to calculate late charges is displayed. This is applicable only if the LATE CHARGE CODE is the GFL (floating rate) method. This index is set up through the Base Rates update [U0705].

• EST TERM (MONTHS)
  The estimated term(months), applicable for month-to-month operating leases only, is displayed in months.

• AUTO CHARGE OFF
  This field indicates if the lease will be automatically charged off through an End Of Day process, should it become very delinquent. The Auto Charge Off field will only be displayed if the Auto Charge Off/Suspended Earnings module is purchased.
  
  For more information on the Auto Charge Off/Suspended Earnings module refer to Auto Charge Off [U0440] in End of Period[U04]: Sequential Updates.

• FUNDING INT DAYS
  The number of days for which funding interest is calculated is displayed.

• FUNDING INT AMT
  The amount of funding interest (may be positive or negative) for the application is displayed. Funding interest causes an automatic adjustment to the accounts payable for the lease, representing the interest either due from or owed to the vendor because of early or late funding of the deal. Funding interest is a specialized function of LeasePak and is not recommended for general use. The FUNDING INTEREST field of the New Lease option in the Portfolio update [U0212] either enables or disables this function.

• FIXED PRICE PURCH
  The fixed price purchase option amount, if any, is displayed.
  
  
• PURCH OPT BILLING
  The method of purchase option billing (continuous or one-time) is displayed.

• NPV DISCOUNT RATE
  For net present value payoff calculations, this rate is used to discount the remaining payment stream. The resulting net present value is the base payoff amount.

• COST OF FUNDS
  The cost of funds is displayed. Cost of funds may be used in a payoff method calculation, if desired.

• COMMISSION BASE
  The base for commission calculations is displayed.

• BOOK IDC
  The amount of initial direct costs for book purposes is displayed. Refer to the Initial Direct Cost/Revnue document for more information about the calculation of Initial Direct Costs.

• TAX IDC
  The amount of initial direct costs for tax purposes is displayed.

• SECURITY DEP INT
  Y is displayed if the security deposit is interest bearing. Otherwise, N is displayed.

• ASSUMED PAYMENT
  Y is displayed if the lease has assumed payments. N is displayed if the lease does not have assumed payments. With the Batch Payments module of LeasePak, leases with assumed payments may have their payments automatically paid by LeasePak when they become due. This is useful if payments are assigned to and collected by a third party. The Batch Payments module is a separately licensed module of LeasePak.

• STATEMENT CODE
  The statement format (individual invoice, coupon book, consolidated bill, no invoice) is displayed.

• BILLING LEVEL
  The address to which the lease should be billed is displayed.

• OPEN/CLOSED END
  O is displayed for open-ended, month-to-month leases and C for closed-ended leases.

• ENTITY CODE
  The entity code is used for municipal leasing and indicates the department or agency within the municipality that is using the leased asset (e.g., fire department, police department, hospital, etc.).

• GRACE PERIOD
  The number of days for the grace period is displayed.

• DELINQUENCY WATCH
  This code specifies the number of days after the payment due date before a lease appears on the delinquency report, if the watch code (instead of the grace period) is used to determine delinquency. Refer to the following fields in the Miscellaneous Customizations option of the Portfolio update [U0212]:

DELINQUENCY REPORT INTERACTIVE WATCH CODE OR GRACE PERIOD
DELINQUENCY REPORT END OF PERIOD WATCH CODE OR GRACE PERIOD

• TITLING TAX
  The titling tax paid up-front is displayed.
  
  
• PRE CREDIT SCORE
  The preliminary credit score is displayed.

• FIN CREDIT SCORE
  The final credit score is displayed.

• IDC ASC 842
  The amount of IDC ASC 842 for book purpose is displayed.

• RESID INC SEPARAT
  Y is displayed if the residual is accreted. Otherwise, N is displayed. Refer to the New Lease option of the Portfolio update [U0212] for more information on residual accretion.

• IDC ACCTG METHOD
  The initial direct cost book accounting method is displayed. Refer to the New Lease option of the Portfolio update [U0212] for more information on book IDC accounting.

• IRR W/RESIDUAL
  The internal rate of return for the cash flow in the lease, including the residual value, is displayed.

• IRR W/O RESIDUAL
  The internal rate of return for the cash flow in the lease, excluding the residual value, is displayed.

 

Terms of Application: Recurring Charges

Click here to see the recurring charges section shown in the report if Extended Recurring Charges module is purchased in which case the recurring charges section will be different from that presented in the following.

Recurring charges assigned to the application, if any, are displayed.

Field Descriptions

• RECURRING CHARGES - NAME
  The name of each recurring charge is displayed.

• RECURRING CHARGES - TYPE (E/I/P/T)
  The type (E/I/P/T) of the recurring charge is displayed.

• RECURRING CHARGES - START DATE
  The starting date for the recurring charge assessment is displayed. The recurring charge is invoiced with every lease payment due on or after this date up through the END DATE shown in the next field (not the lease maturity date).

• RECURRING CHARGES - END DATE
  The ending date for the recurring charge assessment is displayed. The recurring charge is included with every lease payment due from the START DATE through this date.

• RECURRING CHARGES - AMOUNT
  The recurring charge amount to be assessed with each payment is displayed. If the recurring charge type is T (tax special method), the amount of the recurring charge is the amount entered here plus the calculated use tax on the payment. Thus, the amount shown may be zero. This special method bypasses the normal use tax accounting and uses the recurring charge payable accounting instead. The recurring charge type is specified in the Assessment Customizations option of the Portfolio update [U0212]. If the START DATE is equal to the lease commencement date, and there are multiple advance payments, one charge is assessed for each advanced payment.

• RECURRING CHARGES - PAYABLE TO BROKER
  The Broker number to whom the charge is to be paid is displayed. This field is used only if the recurring charge type is P (payable) or T (special tax method).
  
  Accounting for recurring charges payable is on a cash basis. That is, the charge is not payable to the broker until payment is received from the lessee. When 'E' is entered as a recurring escrow type charge it is calculated on an accrual basis.

• RECURRING CHARGES - PAYABLE TO VENODR
  The Vendor number to whom the charge is to be paid is displayed. This field is used only if the recurring charge type is P (payable) or T (special tax method).
  
  Accounting for recurring charges payable is on a cash basis. That is, the charge is not payable to the vendor until payment is received from the lessee. When 'E' is entered as a recurring escrow type charge it is calculated on an accrual basis.

Terms of Application: Recurring Charges (Extended Recurring Charges module)

The recurring charges section displays the repeating assessment and its payment schedule for the selected application.

Field Description

• RECURRING CHARGES - NAME
  Shows the code and name of the repeating assessment. In the screenshot given above, RCR1 is the assessment code and following the hyphen (-) is the assessment name.

• RECURRING CHARGES - TYPE (E/I/P/T)
  Shows the type of the repeating assessment. Click here to learn more about the Type field.

• RECURRING CHARGES - SCHEDULE PAYMENTS
  Shows the payments schedule for this assessment.

• RECURRING CHARGES - NUMBER
  Shows the number of times the given schedule is to repeat.

• RECURRING CHARGES - FREQUENCY
  Shows the payment frequency.

• RECURRING CHARGES - PAYMENT AMOUNT
  Shows the payment amount for this schedule. If the recurring charge type is T (tax special method), the amount of the recurring charge is the amount entered here plus the calculated use tax on the payment. Thus, the amount may appear zero. This special method bypasses the normal use tax accounting and uses the recurring charge payable accounting instead. Use the Assessment Customizations option of the Portfolio update [U0212] to specify the assessment type.
  
  If the assessment starts on the same day as lease commencement date and there are multiple advance payments, LeasePak will assess one charge for each advanced payment.
  

 

Terms of Application: Insurance

At lease one set of insurance information fields will appear in the report, even if the insurance type is reported as "Not Required". For applications with more than one insurance listing, all listings will be displayed in the report.

Field Descriptions

• INSURANCE TYPE
  The type of insurance (e.g., full coverage, self-insured, not required, etc.) is displayed.

• INSURAN STATUS
  The status of the insurance documents (e.g., not required, complete and correct, incomplete) is displayed.

• LOSS PAYEE
  The name of the person or company to whom money should be paid in the case of any accident or loss is displayed.

• AGENT
  The name of the agent or insurance broker is displayed.

• ADDRESS 1
  The first address line of the agent or insurance broker is displayed.

• ADDRESS 2
  The second address line of the agent or insurance broker is displayed.

• CITY
  The city of the agent or insurance broker is displayed.

• CONTACT NAME
  The name of the contact person at the insurance company is displayed.

• CONTACT TITLE
  The title or job position of the contact person is displayed.

• COVERAGE TYPE
  The insurance coverage type provided by the policy (e.g., comprehensive, liability, property damage, collision, etc.) is displayed.

• POLICY #
  The insurance policy number is displayed.

• STATE
  The state of the agent or insurance broker is displayed.

• ZIP
  The ZIP or postal code of the agent or insurance broker is displayed.

• CARRIER
  The name of the company providing insurance is displayed.

• EFFECTIVE DATE
  The date the policy came into effect is displayed.

• EXPIRATION DATE
  The date the policy expires is displayed.

• AMOUNT
  The amount of coverage for this policy is displayed.

• CONTACT PHONE
  The area code and phone number of the contact person are displayed.

 

Payment Information

The Payment Information section of the report summarizes payment information for the application.

Field Descriptions

• PAYMENT HIERARCHY
  Payment hierarchy code of application will appear.
  
  
• PAP/ACH (Y/N/1/2/3)
  Y is displayed if Pre-authorized Payments is being used, N if it is not being used.

  If you use ACH (Automated Clearing House) type PAP, three additional options are available:

  • 1  Processes the PAP for the lease as though the portfolio-level field PAP/ACH Current Payment Only was set to 'Y', regardless of the actual portfolio setting.
  • 2  Processes the PAP for the lease as though the portfolio-level field PAP/ACH Current Payment Only was set to 'N', regardless of the actual portfolio setting.
  • 3  Processes the PAP for the lease as though the portfolio-level field PAP/ACH Current Payment Only was set to 'O', regardless of the actual portfolio setting.


• PAP/ACH Effective Date
  The Pre-Authorized Payment effective date of application is displayed if applicable.
  
  
• PAP/ACH INST ID
  The Pre-Authorized Payment institution ID will be displayed if applicable.
  
  
• PAP/ACH ACCOUNT
  The Pre-Authorized Payment account is displayed if applicable.
  
  
• PAP/ACH ACCOUNT NAME
  The Pre-Authorized Payment account name of application is displayed if applicable.
  
  
• AUTO-PAY INTERVAL
  The auto-pay payment interval - payment schedule option for application, if any, is displayed.
  
  

For more information on portfolio-level PAP/ACH settings, refer to Portfolio [U0212]: PAP/ACH Control File

• AUTO-PAY (Y/N)
  Auto-Pay is selected or not as Y or N respectively is displayed.
  
  
• AUTO-PAY START
  The auto-pay start date is displayed.
  
  
• AUTO-PAY STOP
  The auto-pay ending date is displayed.
  
  
• AUTO-PAY AMT TYPE (A/B/C/D/O/O/T)
  The selected amount type for auto-pay is displayed.
  
  
• AUTO-PAY OTHER AMT
  The auto-pay other amount is displayed.
  
  
• PMNT SOURCE NAME
  The name of the auto-pay payment source is displayed.
  
  
• NAME ON ACCOUNT
  The credit/debit card holder name written on the credit/debit card is displayed.
  
  
• LAST 4 DIGITS
  The last 4 digits of the credit/debit card is displayed.
  
  
• EXPIRATION
  The expiry date of the credit or debit card is displayed.
  
  

 

Asset Summary

The Asset Summary section of the report summarizes asset information for the application.

Field Descriptions

• DESCRIPTION
  The description of the lease is displayed.

• ASSET
  The asset number is displayed.

• P
  P is displayed if the asset is pending (not yet booked into LeasePak's inventory).

• ASSET DESCRIPTION
  Descriptions of the assets are listed.

• MANU
  The code of the manufacturer of the asset is listed. This is used for vehicles only.

• MODE
  The code of the model type of the asset is listed. This is used for vehicles only.

• YEAR
  The model year of the asset is displayed. This is used for vehicles only.
  
  
• CLASS
  The classification of the asset is listed.

• ACQUIS COST
  The acquisition cost of the asset is listed.

• SUPPLIER
  The client id number of the asset supplier (i.e., vendor) is displayed.
  
  
• SUPPLIER NAME
  The name of the asset supplier is displayed.

• STAT
  The current asset status code is displayed.

 

Asset Detail

This section lists detail information for each asset attached to the application.

Asset Detail: General

The first part of the section contains location, cost, depreciation, and other information for the asset.

Field Descriptions

• ASSET
  The asset number is displayed. If the asset is pending, (pending) is displayed next to the number.

• DESCRIPTION
  The asset description is displayed.

• ADDRESS
  The street address where the asset is located is displayed.

• CITY / STATE
  The city and state in which the asset is located are displayed. The city and state location of the asset determine the use tax calculated on the rental payment for the asset.

• COUNTY
  The county in which the asset is located is displayed. This field will display only if the asset's portfolio has sales/use tax assessment.

• TAX AREA ID
  The tax are ID of an asset is displayed.

• ZIP
  The ZIP or postal code of the asset location is displayed.

• CLASS
  The short and long form of the classification code of the asset are displayed.

• MANUFACTURER
  The manufacturer of the asset (e.g., Ford) is displayed. This is used for vehicles only.

• MODEL CODE
  The model code of the asset (e.g., 8600, C200, Mustang) is displayed. This is used for vehicles only.

• MODEL YEAR
  The model year of the asset is displayed. This is used for vehicles only.

• IDENTIFICATION
  An identification number for the asset (e.g., serial number) is displayed.

• PURCHASE ORDER
  The purchase order number for the asset is displayed.

• CHECK REFERENCE
  The reference to be printed on the check disbursing accounts payable for this asset is displayed.

• SUPPLIER
  If the supplier of the asset is established as a vendor on the system, the vendor number is displayed. Otherwise, this field is blank.

• SUPPLIER NAME
  The name of the supplier of the asset is displayed.

• ADDRESS 1
  The first address line of the supplier is displayed.

• ADDRESS 2
  The second address line of the supplier is displayed.

• CITY
  The city of the supplier is displayed.

• STATE
  The state of the supplier is displayed.

• ZIP
  The ZIP or postal code of the supplier is displayed.

• ACQUISITION DATE
  The acquisition date of the asset is displayed.

• P.O. DATE
  The purchase order date is displayed.

• IN-SERVICE DATE
  The date the asset was placed in service is displayed. This date is the starting date for depreciation.

• ACTIVITY STATUS
  The system-defined status of the asset (e.g., new on-lease, off-lease inventory, etc.) is displayed.

• STATUS CODE
  The user-specified status of the asset (i.e., available, not available, in repair, etc.) is displayed. Note that in the case of a pending asset, this status is not the status of the pending asset, but is the status of the asset when it is to be booked.

• ORG ACQUIS COST
  The original acquisition cost of the asset (before tax, charges and fees) is displayed. This amount is included in the depreciation basis.

• OTHER CHARGES
  The miscellaneous charges associated with the asset are displayed. This amount is not included in the depreciation basis.

• RESIDUAL
  The estimated market value of the asset at lease maturity is displayed.

• PAYMENT AMOUNT
  The asset monthly payment amount is displayed. This is the payment amount used in the cash flow when calculating the asset yield.

• ORG ASSET COST
  The original asset cost is displayed. This amount is used for the calculation of gross profit.

• REPAIR COST
  The repair cost of the asset is displayed. This field is informational only.

• GST PAYABLE
  The Goods and Services Tax for the asset is displayed. This field is for Canadian users only.

• INS PREMIUM
  The insurance premium paid to the broker for the asset is displayed.

• PROPERTY TAX
  Y is displayed if the asset should appear on the Property Tax Assessor report [R0305], N if the asset should not appear. Pending assets will not appear on the report, regardless of this setting.

• NEW/USED
  NEW is displayed if the asset was purchased new. USED is displayed if the asset was purchased used or if it came off lease into inventory (i.e., through the Termination option of the Payoff update [U0103]).

• UPFRONT SALES TAX
  Y is displayed if upfront sales tax is due/was charged for this asset. This field will not appear on the report if asset is a vertex O asset.

• ASSESSMENT TAX CLASS
  The assessment tax class code is isplayed that whether or not an assessments are taxed.

• ST
  If UPFRONT SALES TAX is Y, the state to which the upfront sales tax is/was paid is displayed. This field will not appear on the report if asset is a vertex O asset.

• ST RATE
  If UPFRONT SALES TAX is Y, the state rate at which the upfront sales tax is/ was calculated is displayed. This field will not appear on the report if asset is a vertex O asset.

• CT
  If UPFRONT SALES TAX is Y, the county to which the upfront sales tax is/ was paid is displayed. This field will not appear on the report if asset is a vertex O asset.

• CT RATE
  If UPFRONT SALES TAX is Y, the county rate at which the upfront sales tax is/was calculated is displayed. This field will not appear on the report if asset is a vertex O asset.

• CY
  If UPFRONT SALES TAX is Y, the city to which the upfront sales tax is/was paid is displayed. This field will not appear on the report if asset is a vertex O asset.

• CY RATE
  If UPFRONT SALES TAX is Y, the city rate at which the upfront sales tax is/ was calculated is displayed. This field will not appear on the report if asset is a vertex O asset.

• BASE TAX AMT
  If UPFRONT SALES TAX is Y, the amount upon which the upfront sales tax is based is displayed. This field will not appear on the report if asset is a vertex O asset.

For Vertex O users only: Fields UPFRONT SALES TAX, ST, ST RATE, CT, CT RATE, CY, CY RATE, BASE TAX AMT, UPFRONT SALES TAX, and USE TAX EX CODE will not appear in the report for the asset(s) having Vertex O portfolio and for vertex O assets.

• SALES TAX
  The upfront sales tax amount is displayed.

• TAX RPTG
  Y is displayed if the asset should appear on the following tax reports:
  
  
  • Gain/Loss report [R0108]
  • Receipts Less Depreciation report [R0301]
  • Investment Tax Credit Detail report [R0302]
  • Investment Tax Credit Summary report [R0303]
  • Depreciation report [R0304]

N is displayed otherwise. Pending assets will not appear on tax reports, regardless of this setting.

• TAX TYPE
  The tax reporting type for the asset (e.g., true lease, conditional sales agreement, etc.) is displayed.

• FEDERAL DEPR
  The federal depreciation method for the asset is displayed.

• STATE DEPR
  The state depreciation method for the asset is displayed.

• ALT MIN DEPR
  The alternative minimum tax depreciation method for the asset is displayed.

• SALVAGE VALUE
  The salvage value of the asset for state depreciation purposes is displayed.

• MANF DEPR BASIS
  The starting basis for the manufacturer's depreciation of the asset is displayed.

• OPERATOR NAME
  The name of the person operating the vehicle/equipment is displayed.

SALES AND USE TAX

• Tax Payment Type
  The tax payment type is displayed.

• Use Tax Code
  The use tax payment method selected to indicate taxing entities in effect for the asset, based on the location of the asset and status of the lessee is displayed.

• Use Tax Ex Code
  The use tax-exempt code selected on asset directs that why the asset is tax-exempt is displayed.

• Upfront Sales Tax
  The report will display Y if upfront sales tax is due or was charged for this asset otherwise the report will display N.

• Base Tax Amt
  IF asset has UPFRONT SALES TAX set to Y, the report will display the amount upon which the upfront sales tax is based.

• Upfrnt Sal Tx
  The upfront sales tax amount is displayed.

• Upfrnt Admin Orig
  The vendor ID for the administration origin of the upfront sales tax is displayed.

• Adm Org Address 1
  The first address line of the administration origin of the upfront sales tax is displayed.

• Adm Org Address 2
  The second address line of the administration origin of the upfront sales tax is displayed.

• Adm Org City
  The city of the administration origin of the upfront sales tax is displayed.

• Adm Org State
  The state of the administration origin of the upfront sales tax is displayed.

• Adm Org Zip
  The ZIP or postal code of the administration origin of the upfront sales tax is displayed.

• Adm Org County
  The county of the administration origin of the upfront sales tax is displayed.

• Adm Org TAID
  The tax area ID of the administration origin of the upfront sales tax is displayed.

• Dest Address 1
  The first address line of the destination of the upfront sales tax is displayed.

• Dest Address 2
  The second address line of the destination of the upfront sales tax is displayed.

• Dest City
  The city of the destination of the upfront sales tax is displayed.

• Dest State
  The state of the destination of the upfront sales tax is displayed.

• Dest Zip
  The ZIP or postal code of the destination of the upfront sales tax is displayed.

• Dest County
  the destination of the upfront sales tax is displayed.

• Dest TAID
  The tax are Id of the destination of the upfront sales tax is displayed.

• BOOK ACCTG METHOD
  The book accounting method (finance or operating) is displayed. Only "Operating" assets may be booked to an operating lease.

• BOOK DEPR
  The book depreciation method for the asset is displayed.

• BOOK DEPR DATE
  The starting date for the book depreciation of the asset is displayed.

• BOOK DEPR BASIS
  The starting value for the book depreciation of the asset is displayed.

• BOOK SALVAGE VAL
  The amount that this asset may be depreciated down to for book purposes is displayed.

• STOCK NUMBER
  The stock number of the asset is displayed. This field is informational only.

• ASSOC ASSET
  The number of the asset with which this asset is associated is displayed. This information is typically used to link 2 or more "sub-assets" to one major asset.

• FHUT CATEGORY
  The Federal Highway Use Tax (FHUT) category is displayed. The FHUT code is required only for certain heavy motor vehicles, including trucks, truck tractors, and buses. The tax only applies to highway vehicles with a taxable gross weight of 55,000 pounds or more. Refer to the Internal Revenue Service publication 349 for more information on Federal Highway Use Tax.

• FIRST USE DATE
  The date of first use of the vehicle, used in conjunction with trucks and the Federal Highway Use Tax category, is displayed.

• INSPECTION DATE
  The date on which the asset should be inspected is displayed. This date is informational only.

• WEIGHT
  The taxable gross weight of the asset in pounds, used in conjunction with trucks and the Federal Highway Use Tax category, is displayed.

• ITC CODE
  The Investment Tax Credit method for tax purposes (e.g., bypass, pass-through, take full amount, take reduced amount, etc.) is displayed.

• ITC METHOD
  This method dictates how ITC income should be recognized for book purposes.

• ETC CODE
  The Energy Tax Credit method for tax purposes (e.g., bypass, take, etc.) is displayed.

• DEALER BONUS
  The total dealer bonus amount for the asset(s) to an application is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the portfolio switch, Allow Dealer Bonus is set to Y.

• DEALER BONUS PAY TO
  The dealer who the dealer bonus will be paid to. This field will only appear if the Enhanced IDC/IDR module is purchased and the portfolio switch, Allow Dealer Bonus is set to Y.

• DLR RESV AMT
  The total dealer reserve amount for the asset(s) tied to an application is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the portfolio switch, "Allow Dealer Reserve" is set to "Y".
  
  

• DLR RESV PAY TO
  The dealer who the dealer reserve pay to will be displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the portfolio switch, "Allow Dealer Reserve" is set to "Y".
  
  

• DLR RESV PLAN CODE
  The total dealer plan code for the asset(s) tied to an asset is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the portfolio switch, "Allow Dealer Reserve" is set to "Y".
  
  

• DLR RESV PRGM RATE
  The total dealer reserve program rate is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the portfolio switch, "Allow Dealer Reserve" is set to "Y".
  
  

• DLR RESV BUY RATE
  The total dealer reserve buy rate is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the portfolio switch, "Allow Dealer Reserve" is set to "Y".
  
  

• DLR RESV PROMO NUM
  The total dealer reserve promo number is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the portfolio switch, "Allow Dealer Reserve" is set to "Y".
  
  

 

Asset Detail: Use Tax

For Vertex O users only: This section of the report will not appear in the report if the asset has Vertex O portfolio and asset is a Vertex O asset.

Use tax location and rate information is displayed.

Field Descriptions

• USE TAX CODE
  The use tax payment method indicates which taxing entities are in effect for the asset, based on the location of the asset and status of the lessee (e.g., state and county taxes, none exempt, etc.).

• STATE
  The state or province in which the asset is located is displayed. The city and state/province of the asset address determines the use tax that is calculated on the rental payment for the asset.

• COUNTY
  The county in which the asset is located (for use tax calculation) is displayed.

• CITY
  The city in which the asset is located is displayed. The city and state/province of the asset address determines the use tax that is calculated on the rental payment for the asset.

• CURRENT TAX RATES
  The current use tax rates, as stored on the Location file (or on the Asset file if the USE TAX CODE is PERM) for the state, county, and city are displayed.

• PERMANENT TAX RATES
  The permanent state, county, and city tax rates to be used for the asset, if applicable, are displayed. These rates supersede the CURRENT TAX RATES.

 

Asset Detail: Title Filing

Information on title filings (UCC, etc.), if any, is displayed.

Field Descriptions

• TITLE FILING - TYPE
  The type of title document (e.g., Ownership Certificate, UCC, Security Interest, etc.) is displayed.

• TITLE FILING - STATUS
  The status of the title document is displayed.

• TITLE FILING - PLACE
  The place of filing (state and/or county or city) is displayed.

• TITLE FILING - DATE
  The filing date is displayed.

• TITLE FILING - TERM
  The filing term, in months, is displayed.

• TITLE FILING - FILE NUMBER
  The filing number is displayed.

 

Asset Detail: Additional Information

Field Descriptions

• LIST PRICE
  The sticker price of the vehicle is displayed. This field is informational only and is shown only for assets with a vehicle classification (i.e., class code starts with V).

• GAS COST
  This field is informational only and is shown only for assets with a vehicle classification (i.e., class code starts with V).

• LICENSE FEES
  This field is informational only and is shown only for assets with a vehicle classification (i.e., class code starts with V).

• WARRANTY PREMIUM
  If the asset has warranty insurance, the amount of the premium is displayed. This field is informational only and is shown only for assets with a vehicle classification (i.e., class code starts with V).

• RESIDUAL INSUR
  Y or N indicates whether the asset has residual insurance. This field is informational only and is shown only for assets with a vehicle classification (i.e., class code starts with V).

• WARRANTY INSUR
  Y or N indicates whether the asset has warranty insurance. This field is informational only and is shown only for assets with a vehicle classification (i.e., class code starts with V).

• AVG YR MILEAGE
  The average annual allowable mileage per the lease agreement is displayed. Obviously this field is shown only for assets with a vehicle classification (i.e., class code starts with V).

• ODOMETER COMMENCE
  The odometer reading of the vehicle at lease commencement is displayed. This field is informational only.

• LICENSE
  The license/tag number of the vehicle is displayed. Assets with a license/tag number are reported on the License Number report [R0910].

 

Asset Detail: Auto Options

For vehicle type assets, automobile option information is displayed.

Field Descriptions

• AUTO OPTIONS - LEASE COMMENCEMENT
  The possible vehicle options and corresponding YES / NO switches associated with each option at lease commencement are listed.

• AUTO OPTIONS - CURRENT
  The possible options and corresponding switches currently associated with each option are listed.

 

Asset Detail: Condition Report

For vehicle type assets, the condition report is displayed.

Field Descriptions

• CONDITION REPORT
  The report on the condition of the asset is displayed. This field is shown only for assets with a vehicle classification (i.e., class code starts with V).

 

Asset Detail: User Defined Fields/Tables

Values for user defined asset fields and tables, if any, is displayed.

Field Descriptions

• USER DEFINED FIELDS / TABLES
  User defined field and table information for the asset is displayed, if defined for the portfolio at the asset level. User Defined Fields/Tables is a separately purchased module of LeasePak.

Asset Payment Schedule

This section shows the payment schedule for assets attached to an asset focus application.

Field Descriptions

• SCHEDULED PAYMENTS
  Shows the breakdown of payments with respect to duration and payment type.
  
  
• NUMBER
  Shows the number of payments for every breakdown in the payment schedule.
  
  
• FREQUENCY
  Shows the payment frequency (e.g., monthly, advance monthly, skip, quarterly) for every breakdown in the schedule.
  
  
• PAYMENT AMOUNT
  Shows the payable amount in each breakdown of the payment schedule.
  

For detailed description of how payment frequency works for payment schedule, refer Payment Schedule overview document.

Application History

The Application History section of the report lists all unbooked applications for the selected application's lessee.

Field Descriptions

• ENTRY DATE
  The initial entry date of the application is displayed.

• APPLIC
  The application number is displayed.

• DESCRIPTION
  A description of the application is displayed.

• STATUS
  The current status of the application is displayed.

• ACQ COST
  The acquisition cost of the application is displayed.

• TOTAL ACQ COST
  The total acquisition cost for all applications shown is displayed.

• TOTAL ACQ COST APPROVED
  The total acquisition cost for all applications that have been approved is displayed.

 

Lease History

The Lease History section of the report lists all leases for the application's lessee, both current and previous (paid off or terminated).

Field Descriptions

• CONTRACT DATE
  The lease date is displayed for all existing and previous transactions.
  
  
• LEASE
  The lease number is displayed for all existing and previous transactions.
  
  
• DESCRIPTION
  A description of the lease is displayed for all existing and previous transactions.
  
  
• STATUS
  The status of the lease is displayed for all existing transactions.
  
  
• CLOSE DT
  The date the lease was closed (paid off or terminated) is displayed for all previous leases.
  
  
• DELINQUENCY X
  The number of times delinquent for the first delinquency category (e.g., 1-30 days) is displayed for all existing and previous leases. Three delinquency categories are defined on the Portfolio update, Miscellaneous Customizations screen [U0212] for the lessee's default portfolio.
  
  
• DELINQUENCY Y
  The number of times delinquent for the second delinquency category (e.g., 31- 60 days) is displayed for all existing and previous leases.
  
  
• DELINQUENCY Z
  The number of times delinquent for the third delinquency category (e.g., 61-90 days) is displayed for all existing and previous leases.
  
  
• DELINQUENCY Z+
  The number of times delinquent longer than the third category (e.g., 91 days or over) is displayed for all existing and previous leases.

Note: The delinquency period is a customized value. In these examples they are 30, 60, 90 and 90+ days, but other periods may be set. There are a total of 6 delinquency categories that can be entered. Refer to the DELINQUENCY CATEGORY BOUNDARIES parameters on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212]

• ACQUIS COST
  The acquisition cost is displayed for all existing and previous leases. The total acquisition cost is also shown.

 

Current Outstanding Balance

The Current Outstanding Balance section of the report lists all leases with outstanding balance for the application's lessee.

Field Descriptions

• LAST UPDATE (OPTION [CE])
  The application date and time last updated is displayed.
  
  
• # OF LEASES
  Number of the lease that has outstanding balance is displayed. If reports is based on portfolio selection criteria number instead of application number, than the number of leases with outstanding balance will be displayed.
  
  
• GROSS RECV BALANCE
  The gross receivable balance of the lease is displayed.
  
  
• NET OUTSTANDING BALANCE
  The net outstanding balance of the lease is displayed.
  
  
• GROSS OUTSTAND BALANCE
  The gross outstanding balance of the lease is displayed.
  
  
• # OF APPRIVD APPLS
  The number of approved applications with outstanding balance is displayed.
  
  
• TOTAL APPROVED ACQ COST
  The total acquisition cost of the application is displayed.
  
  
• TOTAL EXPOSURE
  Total exposure amount of the application displayed.
  
  

 

Document Tracking

The Document Tracking section of the report provides status and receipt information for documents associated with the application.

Field Descriptions

• DOCUMENTATION TYPE
  Documentation types are created with the Document List update [U0815] in the Application Tracking module. They provide initial lists of default documents for applications. The actual document list may have been modified for this individual application.
  
  
• DATE SENT
  The date the document package was sent is displayed.
  
  
• DOCUMENT NAME
  The names of the documents for this application are listed. Documents which have not yet been received appear at the top of the list.
  
  
• REQ STATUS
  The application status code for which this document becomes required is displayed. If no status code is shown, the document is not required. If a status code is shown, this document must be received before the application status may be changed to this code. For example, if the REQ STATUS is approved for a financial statement, the financial statement must be received before the status of the application may be changed to approved.
  
  
• REC'D
  An X is displayed if the document is received. Otherwise, nothing is displayed.
  
  
• DATE REC'D
  The date the document was received is displayed. No date is displayed if the document is required and still outstanding or if it is not required for this application.

 

Status History

The Status History section of the report provides information on all the status/ownership changes of the application.

Field Descriptions

• STATUS
  A list of the status/ownership code changes is displayed (in the order in which they changed).
  
  
• DESCRIPTION
  A description of each status/ownership code is displayed.
  
  
• OWNER
  The initials of the operator associated with the status code change are displayed.
  
  
• DATE
  The date of the status code change is displayed.
  
  
• TIME
  The time of the status code change is displayed.
  
  
• TIME OUTSTANDING IN CATEGORY
  The time that the status remained unchanged is displayed. For the current status, the time that is shown is the time from the change to the current status to the run time of the report. Therefore, the TIME OUTSTANDING IN CATEGORY will change for the current status based upon when the report is run. The time is shown in the following format: DDD HH:MM.
  
  
• TIME OUTSTANDING TOTAL
  The time from the initial application entry to the time the status was changed is displayed. This column shows a running total of the time from entry to each status change. For the current status, the time that is shown is the time from the initial application entry to the run time of the report. Therefore, the TIME OUTSTANDING TOTAL will change for the current status based upon when the report is run. The time is shown in the following format: DDD HH:MM.
  
  
• REASONS/CONDITIONS
  LeasePak displays up to six reasons/conditions for status transfers as a whole.

 

User Defined Fields/Table

If the User Defined Fields/Tables module is purchased, and user defined fields and/ or table columns for the application or lessee are defined through the Portfolio update [U0212], the report provides the following information at the application level.

Field Descriptions

• APPLICATION USER DEFINED FIELDS
  The field names, as defined for applications in the Portfolio update [U0212], and the values entered in these fields are displayed. A blank is displayed next to the field name if no information has been entered in that field. If no information has been entered in any user defined field for the selected application, a message is displayed indicating that no user defined field information is available.
  
  
• APPLICATION USER DEFINED TABLE
  The table column headings, as defined for applications in the Portfolio update [U0212], and the values entered in these columns are displayed. Only rows that have information are displayed. Rows in which all elements are blank are not displayed. If no information has been entered in any user defined table column for the selected application, a message is displayed indicating that no user defined table information is available.
  
  
• LESSEE USER DEFINED FIELDS
  The field names, as defined for lessees in the Portfolio update [U0212], and the values entered in these fields are displayed. A blank is displayed next to the field name if no information has been entered in that field. If no information has been entered in any user defined field for the selected application, a message is displayed indicating that no user defined field information is available.
  
  
• LESSEE USER DEFINED TABLE
  The table column headings, as defined for lessees in the Portfolio update [U0212], and the values entered in these columns are displayed. Only rows that have information are displayed. Rows in which all elements are blank are not displayed. If no information has been entered in any user defined table column for the selected application, a message is displayed indicating that no user defined table information is available.

 

NOTE: LeasePak will only display rows that have at least one field with a non-blank value. Once the row has been determined to be displayed, all fields will default the corresponding of 0 as defined above for all fields that are NULL, blank or 0.

Notebook Report

The Notebook Report section of the report lists all existing notes for an application. It may be used to review all comments, actions, problems, and concerns for an application. See Notebook Report [R0922] for more information.

Field Descriptions

• DATE ENTERED
  The date the note was created is displayed in MM/DD/YY or DD/MM/YY format, depending on the Date Format Preference field in Security [U0706].
  
  
• DATE FOLW-UP
  The follow-up date is displayed in MM/DD/YY or DD/MM/YY format, depending on the Date Format Preference field in Security [U0706].
  
  
• PC
  Y is displayed if the note has already been processed. Otherwise, N is displayed.
  
  
• TYPE
  The source of the note (e.g.,. applications) is displayed.
  
  
• FRM
  The initials of the note creator are displayed.
  
  
• TO
  The initials of the person assigned to follow-up on the note are displayed.
  
  
• PR
  The priority of the note is displayed.
  
  
• COMMENTS
  The note title and comments are displayed.

 

LeasePak  Documentation Suite

©  by NetSol Technologies Inc. All rights reserved.

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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