Suspended Earnings [R0609]

End of Period: Refer to the End of Period section in this document for information on the corresponding EOP process.

 

The Suspended Earnings report [R0609] provides a suspended income listing of all leases whose earnings have been suspended.

Additionally, the Suspended Earning report can be selected to process End of Month detail in the End of Period Customization [U0212] option of the Portfolio update. The EOP process will update and display EOM detail information if selected interactively after EOM has been run.

Suspended status codes are set through the Suspended Earnings update [U0115]. This update is used to place a lease on a suspended earnings status as of the current accrued to date or a date in the past, change the status of a lease from one suspended status to another, or to remove a lease from a suspended earnings status.

When income earnings are suspended, all outstanding lease payment receivables due on or after the effective date of the earnings suspension and unbilled interest as of the effective date are transferred to suspended General Ledger accounts. Receivables due before the effective date of the earnings suspension are unaffected.

The accrual process sets up receivables in the suspended receivables G/L account (separated into principal and income portions) and income in the Suspended Income Accrued G/L account. Invoicing continues as normal. If a payment is received, the payment is allocated against principal and income in the usual manner. The amount of income paid is accumulated in a suspended income collected Master Financial (RLS) file field.

If earnings are reinstated for the account, the Suspended Income Accrued is transferred to the normal income G/L account, and the Suspended IDC Accrued is transferred to the normal expense account. If the account is charged off, the Suspended Income Collected is re-applied against the remaining principal balance or contract receivable (before the loss/amount to charge against bad debt reserve is calculated).

These are leases with the following suspended activity statuses:

NHLD Hold
NINS Non-insurance
NREC Rescission
NREP Involuntary repossession
NSET Insurance settlement
NSKP Skip
NVOL Voluntary repossession

These leases are in some transitional stage and are not currently earning income, but rather accumulating suspended income in suspended income G/ L accounts. Use the Suspended Leases report [R0602] to view additional information on suspended leases.

If a lease is removed from a suspended status using the Suspended Earnings update [U0115], the suspended earnings are automatically reinstated.

This report may also be used to view the income accumulated for discounted leases (leases in NDSC status) if the accounting unit or the lease entered for reporting is in a Lease Discounting portfolio. Refer to the Lease Discounting update [U0123] for more information.

The report may be accessed through the Collection/Tracking report menu [R06].The report is organized by Portfolio, Company, Region, Office, or by Customer, Group and may be selected interactively for: All leases

• All customers and groups
• A portfolio
• A company
• A region
• An office
• A lease
• A customer
• A customer/group

Suspended Earnings Selection

• ALL
  Enter X to report on all leases in a suspended earnings status. Leave blank to report on a specific portfolio, company, region, office, lease, customer and/or group. If ALL is selected, leases on a suspended earnings status that belong to a customer or to a group are also reported, however, these leases are sorted by their portfolio, company, region, office, and lease numbers, rather than their customer or group numbers.
  
  ALL CUST
  Enter X to report on all customers. Leave blank to report on a specific portfolio, company, region, office, lease, customer and/or group. If ALL CUST is selected, only leases that belong to a customer or to a group are reported (sorted by customer and group).
  
  
• 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.
  
  
• LEASE
  Enter the number of the specific lease upon which to report.
  
  
• CUST
  Enter the number of the customer upon which to report. CUST may not be entered if a portfolio, company, region, office, or lease number is entered. CUST must be entered if GROUP is entered.
  
  
• GROUP
  Enter the number of the group upon which to report. GROUP may not be entered if a portfolio, company, region, office, or lease number is entered.

 

Suspended Earnings Report

The Suspended Earnings report [R0609] reports at the lease level and provides the following information:

• LEASE
  
  
• LESSEE SHORT NAME
  
  
• ACTIVITY STATUS
  The short form of one the following suspended activity status values is displayed:

  NHLD Hold
  NREC Rescission
  NREP Involuntary Reposition
  NSKP Skip
  NINS Non-Insurance
  NSET Insurance Settlement
  NVOL Voluntary Reposition

• SUSPEND EFF DATE
  The effective date of the earnings suspension is displayed.
  
  
• DAYS SUSP
  The number of days from the effective date of the suspension to the current date is displayed.
  
  
• DAYS DELQ
  The number of days from the most delinquent payment date to the current date is displayed.
  
  A switch on the New Lease screen of the Portfolio update [U0212NL] allows an alternative delinquency calculation which presumes that all months are 30 days.
  
  
• SUSPENDED INCOME REC (UNBILLED)
  The unbilled suspended income accrued but not due for the period-to-date for non-monthly suspended leases is displayed.

  Note: Income is accrued and recognized monthly, regardless of the lease's payment schedule.If the payment is not due, the accrued income is held in income receivable. Unearned income is credited by the accumulated income receivable only when the payment is actually due.

• SUSPENDED INCOME ACCRUED
  The suspended income earned is displayed.
  
  SUSPENDED INCOME COLLECTED
  The suspended income paid is displayed.
  
  
• SUSPENDED IDC ACCRUED
  The amount of suspended IDC accrued for the lease is displayed.
  
  
• INSURANCE PREMIUM
  The amount of suspended insurance premium IDC for the lease is displayed.
  
  
• NOTARY FEE
  The amount of suspended notary fee IDC for the lease is displayed.
  
  
• INSURANCE FEE
  The amount of suspended insurance fee IDR for the lease is displayed.
  
  
• REGISTRATION
  The amount of suspended registration fee IDR for the lease is displayed.
  
  
• VENDOR SUBSID
  The amount of suspended vendor subsidy IDR for the lease is displayed.
  
  
• OPENING COMM
  The amount of suspended opening commission IDR for the lease 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.
  
  
• SUBVENTION
  The total IDR5 - Subvention amount for the lease is displayed.
  
  
• 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.
  

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

• IDC8 RESERVES
  The total suspended amount for IDC8 is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• IDC9 RESERVES
  The total suspended amount for IDC9 is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• IDCA RESERVES
  The total suspended amount for IDCA is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• IDCB RESERVES
  The total suspended amount for IDCB is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• IDCC RESERVES
  The total suspended amount for IDCC is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• IDCD RESERVES
  The total suspended amount for IDCD is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• IDCE RESERVES
  The total suspended amount for IDCE is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• IDCF RESERVES
  The total suspended amount for IDCF is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• IDCG RESERVES
  The total suspended amount for IDCG is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• IDCH RESERVES
  The total suspended amount for IDCH is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• SUBVENT 1
  The total suspended income amount for subvention 1 is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• SUBVENT 2
  The total suspended income amount for subvention 2 is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• SUBVENT 3
  The total suspended income amount for subvention 3 is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• SUBVENT 4
  The total suspended income amount for subvention 4 is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• SUBVENT 5
  The total suspended income amount for subvention 5 is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.
  
  
• DLR BONUS
  The total suspended dealer bonus amount is displayed for the lease. 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 RESRV
  The total suspended dealer reserve amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased and the portfolio switch, "Allow Dealer Reserve" is set to "Y".
  
  
• IDC ASC 842
  The total IDC ASC 842 amount for the lease is displayed.
  
  
• TOTALS
  Page totals for number of leases, suspended income receivable (unbilled), suspended income accrued, suspended income collected, suspended IDC accrued and suspended IDC and IDR by type are shown by office. Group totals are shown if customer/group is selected.
  
  Region, company, portfolio, and grand totals are shown for number of leases, suspended income receivable (unbilled), suspended income accrued and suspended income collected. Customer totals are shown if customer/ group is selected.
  
  

 

End of Period

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

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

 

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

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

 

LeasePak  Documentation Suite

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