Admin Addr Terms Accrual Pmt Payoff Crd Bur Infor Participation Asset Notebook Auto Lse Ext Closed Lse

Lease Inquiry [R0905]

The Lease Inquiry [R0905] provides a review of all information on file for a specific lease or asset. It may be used for research, customer service, review, and payoff quotes. The report can be accessed either through the LeasePak Reports menu, Operational option or by entering R0905 into the Fast Menu <F2>.

LeasePak v3.2a has been modified to store a maximum of 500 leases per client in the Lease Inquiry Report.

 

Contents

• Report Selection



• Administrative Information
• Address Information
  
  
• Terms of Lease
  
  
• Accrual Information
• Payment Information
• Payoff Information
• Credit Bureau Information
• Participation Information
  
  
• Asset Summary
• Asset Detail
• Asset Payment Schedule
  
  
• Notebook Report
  
• Automatic Lease Extension
  
  
• Closed Out Lease

 

Report Selection

Use this screen to select the lease or asset on which to report, as well as which sections of the report to produce.

• LEASE
  Type the lease number on which to inquire, or select the field and click to start the Client Search function, which includes searching for a lease by Lessee or VIN. If you want to inquire on an asset, leave this field blank.

• ASSET
  Type the asset number on which to inquire, or select the field and click to start the Asset Search function. If you want to inquire on a lease, leave this field blank.

The following fields are not displayed if the lease selected is paid off or terminated and the full lease information is no longer on file. The closed out (historical) lease information report is automatically generated. Refer to the NUMBER OF DAYS TO WAIT BEFORE CLEANING UP LEASE RECORDS parameter on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212] for more information about the deletion of paid off and terminated lease information.

• ALL
  Enter X to report on all the information available. Leave blank to report on a combination (but not all) of the information categories.

• ADMINISTRATIVE INFORMATION
  Enter X to report on miscellaneous lease administrative information, such as relationships (e.g., vendor, broker, customer, etc.), ratings, comments, salesperson commission. Leave blank to exclude this information from the report.

• ADDRESS INFORMATION
  Enter X to report on address and miscellaneous information for the associated groups established for the lease, such as lessee, co-lessee, guarantor, references (bank, trade, personal), previous and current employment, and miscellaneous addresses (mailing, billing, previous and other). Leave blank to exclude this information from the report.

• TERMS OF LEASE
  Enter X to report on the main financial information for the lease. Leave blank to exclude this information from the report.

• ACCRUAL
  Enter X to report on accrual information. Leave blank to exclude this information from the report.

• PAYMENT
  Enter X to report on current and historical payment information. Leave blank to exclude this information from the report.

• PAYOFF
  Enter X to report on information needed to quote a lease payoff or termination. Leave blank to exclude this information from the report. If X is entered, the PAYOFF METHOD may be entered or changed, the default EFFECTIVE DATE of the payoff may be changed, and, if an EFFECTIVE DATE past the lease's accrued to date is entered for a projected quote, future payments may be indicated as either received or not (using the FUTURE PMTS RECD field).

• PAYOFF METHOD
  Enter, or change, the payoff method to be used for the payoff quote. The PAYOFF METHOD is defaulted to the method on the lease form if this method is a valid payoff method for the lease. Refer to the Lease Form update [U0721] for information on the payoff method entered. Use Help for a list of valid payoff methods.

If the payoff method entered on the lease form is not valid for the lease type (for example, 'OPR' is invalid for non-operating leases), no value is defaulted and a valid payoff method must be entered.

• EFFECTIVE DATE
  Enter, or change, the effective date of the payoff quote in MM/DD/YY or DD/MM/YY format, depending on the Date Format Preference field in Security [U0706]. A future date for a projected quote may be entered.

  For other than interest bearing loans, the EFFECTIVE DATE is defaulted with the earliest of:

• the current date,
• the lease maturity date, or
• the accrued to date of the lease.

For interest bearing loans, the EFFECTIVE DATE is defaulted with the later of:

• the last payment effective date, or
• the accrued to date of the lease.
  
  
• FUTURE PMTS RECD
  This field may only be accessed if a future date beyond the accrued to date of the lease is entered as the EFFECTIVE DATE of the payoff quote. Enter Y if future payments (past the accrued to date) are assumed to be received on the payment due dates. Enter N if no future payments are assumed to be received.

• PARTICIPATION
  Enter X to report on vendor and investor participation information. Leave blank to exclude this information from the report.

• LEASE USER DEFINED FIELDS/TABLE
  Enter X to report on user defined fields/table information stored for the lease. Leave blank to exclude this information from the report. This option appears only if the User Defined Fields/Tables module is purchased, and User Defined Fields and Table columns are defined through the User Defined Fields/Tables option of the Portfolio update [U0212].

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.

• ASSET SUMMARY
  Enter X to report on information relating to the asset(s) associated with the lease. Leave blank to exclude this information from the report.

• ASSET DETAIL
  Enter X to report more extensive information relating to the asset(s) associated with the lease, including user defined fields/tables (if applicable). This also includes information regarding the tax structure of the asset. Leave blank to exclude this information from the report.

• NOTEBOOK REPORT
  Enter X to report on all existing notes for the lease. It may be used to review all comments, actions, problems, and concerns for a lease. Leave blank to exclude this information from the report.

• AUTOMATIC LEASE EXTENSION
  Enter X to report on lease extension information upon lease maturity. Lease extension term, payment schedule, and recurring charges will be displayed. The only valid automatic lease extension method used is RES.

 

Administrative Information

This section of the report includes information on accounting and client keys for the lease.

• PORTFOLIO/COMPANY/REGION/OFFICE
  
  
• CUSTOMER
  The customer number and name of the lessee are displayed.

• PARENT CUSTOMER
  The parent customer number and name of the above CUSTOMER are displayed.

• LESSEE
• VENDOR
• BROKER
• INVESTOR
• GROUP
  
  
• CREDIT APPROV OFF
• DOCUMENT APPR OFF
• FUNDING APPR OFF
  
  
• RATING SERVICE
  The credit rating service used for this lease (e.g., TRW) is displayed.

• RATING
  The credit rating as stipulated by the rating service is displayed.

• IN HOUSE RATING
  The credit rating for this lease is displayed. The rating scale is determined by each user.

• LC EXP DATE
  The letter of credit expiration date is displayed.

• PRELIM CREDIT
  The preliminary credit score from the lease lease process is displayed.

• FINAL CREDIT
  The final credit score from the lease lease process is displayed.

• VENDOR STATUS
  The status for the vendor for the lease is displayed.

• COMMENTS 1
  Line 1 of comments for the lease is displayed. Comments may be entered through the Book Lease option [B] of the New Lease update [U0101] and changed through the Lease update [U0202].

• COMMENTS 2
  Line 2 of comments for the lease is displayed.

• SALESPERSON
  
  
  • 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 credits. It is informational only, and may be used for custom commission calculations.

• POOL ID
  The pool ID information for lease is displayed.

 

Address Information

The Address section of the report displays fields for addresses associated with the lease. 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.

Subsequent address Field Descriptions will only include fields that are unique to that particular address type.

• 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 format, depending on the Date Format Preference field in Security [U0706], the business was established is displayed.

• CUR OWNRSHP
  The date, in 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 a lease.

• ACTIVITY STATUS
  The activity status for the lessee, co-lessee, or guarantor is displayed. The possible code values are as follows:
  • ACTV - Active
  • DECD - Deceased
  • INAC - Inactive
  • PNDG - Pending
  • RJTD - Rejected

• ADDRESS TYPE
  The client's address type is displayed as defined for credit bureau reporting of Metro 2 field Address Indicator. The possible address type that can appear are as follows:
  • B - BUSINESS ADDRESS. Business address, not consumer’s residence
  • D - REPORTER DEFAULT Data reporter’s default address
  • M - MILITARY ADDRESS
  • P - BILL PAYER SERVICE. Bill Payer service, not consumer’s residence
  • S - SECONDARY ADDRESS
  • Y - CONSUMER ADDRESS. Known to be address of primary consumer
  • Z - UNKOWN TYPE. Address type is unknown.

• ADDRESS STATUS
  The client address status is displayed, as defined for credit bureau reporting of Metro 2 field Address Indicator. The values include the following:
  • C - CONFIRMATION/VERIFIED. Confirmed/verified address
  • N - NOT CONFIRMED. Not confirmed address
  • U - UNDELIVEREABLE. Non-deliverable address/returned mail
  • Z - UNKNOWN STATUS. Address status is unknown

• CONFIRMED DATE/TIME
  The date and time is displayed, if any, of when a user last entered Address Status 'C' (Confirmed/verified). The format of the date will be as of settings of date format from the User's Date Format Preference from U0706 Security.

• BUSINESS
  A 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. A residence type can be one of the following:
  • OTHER - Other
  • OWN - Own
  • RENT - Rent

• CONSUMER INFO IND
  The credit bureau Consumer Information Indicator is displayed, if any. This information will be extracted for the client from U0241 Credit Bureau Bankruptcy.

 

Address Information: Co-Lessee

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

• 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 lease.

 

Address Information: Personal Reference

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

• 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.

• 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.

• 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.

• 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.

• 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.

• 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 Lease (Lease) Address

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

 

Address Information: Individual Lease (Lease) Billing Address

The lease can be set to use this address for invoicing in place of the lessee billing or main address. Refer to the lease field BILL LEVEL for more information.

 

Terms of Lease

The Terms of Lease section of the report lists the main financial information of the lease.

 

Terms of Lease: General

This screen lists general terms information.

• CONTRACT DATE
  The date of the lease is displayed. Generally, the lease 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 COMMENCEMENT DATE to the MATURITY DATE is equal to 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.

• DISBURSEMENT DATE
  The date on which the funds for payment of the leased vehicle/equipment were disbursed, as input through the Book Lease option of the New Lease update [U0101], is displayed.

• TURN-IN DATE
  The Turn-In Date for the lease is displayed. The date will be modified when the Maturity Date has been calculated and/or recalculated and will be set one day after the Maturity Date.
  
  The Turn-In Date is set by the Book Lease [U0101] update and is modified based on changes processed during the life of the lease. For example if changes to the Maturity Date are made via Payment Reschedule [U0104], Payment Extension [U0107], Lease Extension [U0108], Rebook [U0116] and Auto Lease Extension [U0430], the Turn-In Date will be +1 day after the Maturity Date.

• MATURITY DATE
  The date the lease is scheduled to mature is displayed. The MATURITY DATE is calculated using the COMMENCEMENT DATE and the LEASE TERM.

• DOC COMPLETE DATE
  The date on which all documentation requirements for the lease were met is displayed. This date may be used by captive leasing companies as the release date for equipment delivery by the manufacturer. This field is informational only.

• LAST REBOOK DATE
  The date of the last rebook, if applicable, is displayed. Rebooks allow changes to the initial lease information, effective as of the lease commencement, and are processed through the Rebook update [U0116].
  
  
• CONTRACT END DATE
  Shows the contract end date for an Interest Bearing Loan.
  

• SYSTEM BOOKING
  The date and time the lease was booked on the system are displayed.

• ASSUMED LSE DATE
  The date of the last lease assumption, if applicable, is displayed.

• VERIFIC RETURN
  The receipt date of the verification of assets on lease. This date is informational only.

• ACQUISITION COST
  The invoice price of the asset(s) tied to the lease (before tax, charges or fees) is displayed. If multiple assets are tied to the lease, the sum of the acquisition costs of all assets for the lease is displayed. The acquisition cost is the starting basis for depreciation.

• OTHER CHARGES
  These charges are not associated with accounts payable and are not included in the depreciation base of the asset.

• 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.

  If the DOWN PAYMENT IS INFORMATIONAL ONLY 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.

• RESIDUAL AMT
  The total residual (guaranteed plus unguaranteed) of all assets attached to the lease is displayed.

• GUARANTEED RESID
  The guaranteed portion of the total residual for the lease, if any, is displayed.

• SECURITY DEPOSIT
  The security deposit held for the lessee is displayed.

• INTERIM RENT
  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.

• 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.

• INS PREMIUM
  The total insurance premium paid to the broker for all assets on the lease is displayed.

• NOTARY FEE
  The notary fee paid to the broker is displayed.

• INSURANCE FEE
  The insurance fee receivable is displayed. The fee is a percentage of the insurance premium, as established on Portfolio update [U0212], New Lease customization.

• VENDOR SUBSIDY
  The vendor subsidy receivable is displayed.

• DOCUMENTATION FEE
  The documentation fee is displayed. The DOCUMENTATION FEE may be considered a part of initial direct costs.

• BOOK IDC
  The initial direct costs for book purposes is displayed. Refer to the Initial Direct Cost/Revenue document for more information on IDC calculation.

• TAX IDC
  The initial direct costs for tax purposes 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 BOUNS
  The original total dealer bonus amount for the lease will be displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch Allow Dealer Bonus is set to Y from U0212 Portfolio – Assessment Customization.

• DEALER RESERVE
  The original total dealer reserve amount for the lease will be displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch "Allow Dealer Reserve" is set to 'Y' from update U0212 – Portfolio.
  
  

• DEALER BUY DOWN
  The total IDR6 – Dealer Buy Down amount for the lease is displayed.

• IDC8 RESERVES IDC
  The total IDC8 reserves IDC amount for the lease is displayed.

• IDC9 RESERVES IDC
  The total IDC9 reserves IDC amount for the lease is displayed.

• IDCA RESERVES IDC
  The total IDCA reserves IDC amount for the lease is displayed.

• IDCB RESERVES IDC
  The total IDCB reserve IDC amount for the lease is displayed.

• IDCC RESERVES IDC
  The total IDCC reserves IDC amount for the lease is displayed.

• IDCD RESERVES IDC
  The total IDCD reserves IDC amount for the lease is displayed.

• IDCE RESERVES IDC
  The total IDCE reserves IDC amount for the lease is displayed.

• IDCF RESERVES IDC
  The total IDCF reserves IDC amount for the lease is displayed.

• IDCG RESERVES IDC
  The total IDCG reserves IDC amount for the lease is displayed.

• IDCH RESERVES IDC
  The total IDCH reserves IDC amount for the lease is displayed.

• SUBVENT 1
  The total subvention 1 amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• SUBVENT 2
  The total subvention 2 amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• SUBVENT 3
  The total subvention 3 amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• SUBVENT 4
  The total subvention 4 amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• SUBVENT 5
  The total subvention 5 amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• 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.
  

  Vehicle Finance users: the additional IDC/IDR fields appear with Vehicle Finance module when the IDC/IDR fees entered on the lease.

• ORIG DLR PMTS
  Shows the original dealer payment amount.

• DLR PMT BATCH ID
  Shows the identifier of the batch processing dealer payments.

• IN-HOUSE FEE
  IN-HOUSE FEE is informational only and does not affect the capitalized cost of the lease.

• BROKER FEES
  The amount of the broker fee is displayed. The broker fee may be considered a part of initial direct costs.

• BROKER FEE A/P
  The amount of broker fees not yet disbursed through a check to the broker is displayed. Broker fees may be disbursed when the lease is booked (on the last screen of the Book Lease option of the New Lease update [U0101]) or afterwards through the Disburse Check option [DC] of the New Lease update [U0101].

• BROKER
  The broker number, if applicable, is displayed.

• BROKER METHOD
  The method of the factoring of the broker payment into the lease transaction (e.g., built in principal, built in rate, or no broker) is displayed.

• INSURANCE PREMIUM BROKER
  The code for the broker to which insurance premium is paid

• NOTARY FEE BROKER
  The code for the broker to which notary fee is paid

• REGISTRATION FEE
  The amount of registration fee receivable associated with the lease. Appears on the first invoice.

• OPENING COMMISSION
  The amount of opening commission receivable associated with the lease. Appears on first invoice.

• 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 operating leases with fixed terms and for certain special simple interest floating rate leases. Refer to the Calculations document for more information on the calculation of IRR.

• IRR W/RESIDUAL
  The internal rate of return is calculated using the residual, the acquisition cost, broker fees and the payment stream. This field is informational only and is initially calculated in the Application update [U0801]. The IRR is recalculated when the lease is booked if any of the parameters used in its calculation are changed. Refer to the Calculations document for more information on the calculation of IRR.

• IRR W/O RESIDUAL
  The internal rate of return without residual is calculated using the acquisition cost, broker fees and payment stream. This field is informational only and is initially calculated in the Application update [U0801]. The IRR W/O RESIDUAL is recalculated when the lease is booked if any of the parameters used in its calculation are changed. Refer to the Calculations document for more information on the calculation of IRR without residual.

• FIXED RATE
  The interest rate for a simple interest fixed rate lease is displayed.

• ADD-ON RATE
  The add-on percentage for the lease is displayed. This information is applicable for simple interest floating rate leases only.

• FACTOR
  The computed contract factor of the lease is displayed. This rate is calculated using the following computation:

AVERAGE RENTAL INCOME (CONTRACT)
/ (CAPITALIZED COST + RESIDUAL)

• COST OF FUNDS
  The cost of funds is displayed. Cost of funds may be used in a payoff method option, on the election of the user.

• BAD DEBT %
  The bad debt percentage recorded for the lease is displayed.

• INSURANCE PREMIUM AP
  The amount of insurance premium not yet disbursed through a check to the broker is displayed. Premiums may be disbursed when the lease is booked (on the last screen of the Book Lease option of the New Lease update [U0101]) or afterwards through the Disburse Check option [DC] of the New Lease update [U0101].

• NOTARY FEE AP
  The amount of notary fees not yet disbursed through a check to the broker is displayed.

• IDC ASC 842
  The initial direct cost ASC 842 for book purpose is displayed. Refer to the Initial Direct Cost/Revenue document for more information on IDC/IDR calculation.

• 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.

• COMMISSION BASE
  The calculated net present value, using initial cash outflow, lease payments and the residual, is displayed. Initial cash outflow is comprised of the following components:

  ACQUISITION COST
  + OTHER FEES
  + BROKER FEES
  - DOWN PAYMENT
  - SECURITY DEPOSIT
  - INTERIM RENT
  - ADVANCE PAYMENT

  The interim rent is only added if it is amortized over the life of the lease (refer to the INTERIM RENT field on the first screen of the New Lease Customizations option of the Portfolio update [U0212]). Refer to the Calculations document for more information on the calculation of NPV.

• TRANSFER PRICE RATE
  The Transfer Price rate, if applicable, is displayed.

• FLOAT INDEX CODE
  The base rate code to which the lease is tied is displayed. FLOAT INDEX CODE is used for floating interest rate leases only and is used with the add-on rate to calculate interest for the lease. Base rates are maintained through the Base Rate update [U0705].

• FLOAT INDEX NAME
  The long name associated with the FLOAT INDEX CODE is displayed.

• FLOAT FLOOR
  The interest rate floor for the lease is displayed. This information is applicable to floating rate leases only and represents the minimum interest rate that may be applied to the lease.

• INT FREE MTHS
  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.

• FLOAT CEILING
  The interest rate ceiling for the lease is displayed. This information is applicable to floating rate leases only and represents the maximum interest rate that may be applied to the lease.

• BASE RATE AT COMMENCEMENT
  The base rate at commencement is displayed.

• ORIG U/E LESSOR
  The initial lessor unearned rental income (lessor's portion) for the lease is displayed.

• ORIG U/E RESIDUAL
  The original unearned residual of the lease is displayed.

• AVG RENTAL INCOME
  The average dollar amount of income per period is displayed. Refer to the Calculations document for the specific calculation of average rental income.

• AVG RENTAL DEPREC
  The average dollar amount of net investment or principal reduction per period is displayed. Refer to the Calculations document for the specific calculation of rental depreciation per period. For straight-line operating leases (AOSL, ROSL), the rental depreciation per period is the average payment which is calculated as follows:

TOTAL PAYMENTS
/TOTAL # ACCRUAL / BILLING CYCLES)

• FUNDING INTEREST
  The amount of funding interest (may be positive or negative) for the lease is displayed. Funding interest causes an automatic adjustment to the accounts payable for the lease, representing the interest either due 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 IS USED parameter on the first screen of the New Lease Customizations option of the Portfolio update [U0212] either enables or disables this function.

• LEASED ASSET COST
  The inventoried value of the assets at the time of booking for operating leases is displayed. This is the net book value at the beginning of the lease term.

• FIXED PRICE PURCH
  The fixed price purchase option amount, if any, is displayed. If a lease with fixed price purchase has not yet matured, the PAYOFF CALCULATION METHOD is used to calculate an early payoff amount. At maturity, the fixed price purchase option is the base payoff amount. It is billed to the lessee, as specified in the PURCHASE OPTION BILLING field, due on the lease maturity date. On leases billed in arrears, this amount will appear on the final invoice along with the final rent amount. On leases billed in advance, the final rent is due at the beginning of the final period. A separate invoice for the fixed price purchase amount will be produced, due on the maturity date.

• PURCHASE OPTION
  The purchase option method (e.g., percentage, calculated, fixed, etc.) is displayed.

• PURCH OPT OWNER
  The purchase option owner (e.g., investor, lessor, etc.) is displayed.

• TRADE-IN AMT
  The trade-in value for the lease is displayed. The trade-in amount is informational only.

• TRADE-IN DESCRIP
  A description of the trade-in, if any, is displayed.

• LEASE DESCRIPTION
  The description of the lease, as entered through the Book Lease option of the New Lease update [U0101], is displayed.

• AUTO CHARGE OFF
  This field indicates if the lease will be automatically charged off through an End of Day process. 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 the "End of Day Auto Charge Off [U0440]" in End of Period modules [U0401].

• INVOICE CODE
  Invoice Format Code and truncated description. LeasePak also prints the code and description to Cycle Invoices [U0302] invoice scratch file. Set up Invoice Format Codes using the code category INVOICE PROGRAM CODE (INV.MOD) in Custom Code [U0722]. For applications, you can access this field in Application [U0801] Tab 7. Once an application is booked, you can modify the Invoice Format Code in Automatic Payment Settings [U0227]

• DATA ENTRY OPERATOR
  The initials of the operator who booked the lease
  
  
• MIN PAYMENT AMT
  The minimum payment amount for the lease is displayed when a non-pyramiding supported Late Charge Method/Code is entered in Book Lease [U0101], Applications [U0801] and/or Master Financial [U0202]. The Late Charge Code is defaulted from the Lease Form [U0721] entered, all valid late charge fields apply.

• TERM (MONTHS)
  The lease term in months is displayed.
  
  
• ESTIM TERM (MONTHS)
  If the lease is a month-to-month operating lease with initial direct costs associated with it, the estimated term of the month-to-month lease is displayed. The estimated term is used for IDC amortization purposes and is entered at lease booking time by the user.
  
  
• ACCRUAL/BILLING CYCLE
  The accrual/billing cycle (B/M/S/W) of the lease is displayed.
  
  

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

• NUM ASSUMPTIONS
  The number of times this lease has been assumed by another lessee is displayed.

• NUM ASSETS
  The number of assets on this lease is displayed.

• ASSUMED PAYMENT
  YES is displayed if the lease has assumed payments. With the Batch Payments module of LeasePak, leases with assumed payments may have their payments automatically paid 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.

• RESID INC SEPARAT
  YES is displayed if the residual income is separated from lessor income for accrual purposes.

• BUSINESS/PERSONAL (B/P)
  
• OPEN/CLOSED (O/C)
  
  
• BACKDATED NEW LSE
  YES is displayed if the lease is backdated. This parameter is set at the system level and is invisible to the user.

• FUNDING INTEREST DAYS
  This field is not stored, but represents the difference in days between the commencement date and disbursement date. Refer to the FUNDING INT /DAYS field in the Book Lease option of New Lease (U0101).

• DISCOUNT INVST
  The investor or investor group associated with the lease when discounted is displayed.

• LEASE SOURCE
  The origin of the lease (e.g., direct, indirect, broker) is displayed.

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

• CONTRACT TYPE
  The type of lease (e.g., finance, conditional sales, etc.) is displayed. The lease type is primarily informational only, with the exception of operating lease type.

• ENTITY CODE
  The entity of the lease is displayed. 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.).

• ACT STATUS
  The activity status of the lease is displayed (e.g., active normal, active renegotiated, active assigned for repossession, non-accrual hold, etc.). Refer to Status Codes for a list of all lease activity status codes and their meanings.

• LATE CHARGE INDEX
  The base rate to be used for the GFL late charge calculation is displayed.

• STATEMENT (I/C/F/N)
  The statement format (individual invoice, coupon book, consolidated bill, no invoice) is displayed.

• BILL LEVEL (C/L/I)
  The address to which the lease should be billed is displayed.

• SEC DEP INT (Y/N)
  'YES' is displayed if the security deposit is interest bearing. 'NO' is displayed otherwise. INT BEAR SEC DEP is informational only.

• GROUP
  The group number is displayed.

• PREV LSE IN GRP
  The lease number of the lease previous to the current lease in the group is displayed.

• NEXT LSE IN GRP
  The lease number of the lease next to the current lease in the group is displayed.

• NOTES PAYABLE
  The notes payable key (if any) attached to the lease is displayed.

• PRODUCT TYPE CODE
  The Product Type Code, if applicable, is displayed.

• RESERVES SL TERM
  The number of reserves SL term for the lease is displayed.

• ACQ FEE SL TERM
  The number of acquisition fee SL term for the lease is displayed.

• VERTEX O
  YES is displayed if lease is a Vertex O lease and NO is displayed if lease is a non-Vertex O lease.

• PREPAID LEASE
  The status of a 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 Lease: 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 charge information, if any, will be displayed for the lease.

• 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 Portfolio update [U0212AS]. 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).

• RECURRING CHARGES - PAYABLE TO VENDOR
  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).

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 Lease: Amounts Due at Lease Commencement (without Partial Deductions)

For users who do not own Partial Deductions (a separately purchased module of LeasePak), the above information is displayed.

Field Descriptions

• AMOUNTS DUE AT LEASE COMMENCEMENT
  A list of the possible amounts due at lease commencement is displayed. These include security deposit, advance payments, down payment, interim rent, registration fee, opening commission, recurring charges, upfront sales tax, advance payment tax, down payment tax, interim rent tax, registration fee tax, and opening commission tax. If the Sales Tax on Assessments module is purchased, this list also includes sales tax received for advance recurring charges. If the Partial Deductions module is purchased, and the lease was booked with this module active, an alternate format is used to display these amounts due. This alternate format shows the breakdown of each amount due as allocated into the possible fields, AMT RECEIVED, INVOICED, A/P, and SUSPENSE.

• AMT RECEIVED
  The amount received (and processed through the Book Lease update [U0101]), if any, is displayed for each type that can be due at lease commencement. If the Partial Deductions module is purchased this field represents the amount of cash processed.

• PMT OPT
  The payment option for the amount due, if it was not received, is displayed. If the Partial Deductions module is purchased, this field is replaced with multiple fields showing the allocation of the amount(s) due.

 

Terms of Lease: Amounts Due at Lease Commencement (with Partial Deductions)

For users who own Partial Deductions, amounts due are displayed as shown above.

Field Descriptions

• AMT DUE
  The column only appears if the lease was booked with the Partial Deductions module purchased. The original amount due (and processed through the Book Lease update [U0101]), if any, is displayed for each type that can be due at lease commencement.

• INVOICED
  The column only appears if the lease was booked with the Partial Deductions module purchased. The amount invoiced (and processed through the Book Lease update [U0101]), if any, is displayed for each type that can be due at lease commencement.

• A/P
  The column only appears if the lease was booked with the Partial Deductions module purchased. The amount received by the vendor (and processed through the Book Lease update [U0101]), if any, is displayed for each type that can be due at lease commencement. These fields represent the total amount of A/P to reduce for all assets.

• SUSPENSE
  The column only appears if the lease was booked with the Partial Deductions module purchased. The amount of over payment placed into suspense (and processed through the Book Lease update [U0101]), if any, is displayed for each type that can be due at lease commencement.

 

Terms of Lease: IDC/IDR Information

 

Terms of Lease: Insurance Information

At lease one set of insurance information fields will appear in the report, even if the insurance type is reported as "Not Required". For leases 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 / 2
  The first address line of the agent or insurance broker is displayed.

• CITY/STATE/ZIP
  The address of the agent or insurance broker is displayed.

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

• CONTACT TITLE
  
  
• 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.

• 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 insurance agent or broker is displayed.

 

Terms of Lease: Target Principal Levels

For interest bearing loans (IBL's), target principal information, if any, will be displayed.

Field Descriptions

• PAYMENT
  The payment number, starting with 1 and proceeding to the total number of payments scheduled for the loan, is displayed.

• DUE DATE
  The due date associated with each payment is displayed.

• TARGET PRINCIPAL
  The target principal level for the indicated payment is displayed. Refer to Reference Guide APPLICATION SCREEN 7 [A7] for more details.

 

Terms of Lease: Revolving Credit

When Revolving Credit limit and Revolving Credit Line Fee% are entered either through Application [U0801] or Book Lease [U0101], the information is displayed under the Terms of the Lease. Revolving Credit fields may be updated through the Master Financial [U0202]. LeasePak will store and display the last 4 changes made to the Revolving Credit Limit and the Revolving Credit Limit Effective Date fields. The Revolving Credit Line Fee% field will only display the most current change made.

 

Accrual Information

The Accrual Information section of the report provides information relating to the periodical accrual cycle of the lease.

LeasePak always uses the tax rate applicable to the lease due date, not the tax rate applicable to the date on which the accrual occurred.

Accrual Information: General

This first part displays accrual dates, amounts, and other information.

Field Descriptions

• ACTIVITY STATUS
  The activity status of the lease is displayed (e.g., active normal, active renegotiated, active assigned for repossession, non-accrual hold, etc.). Refer to Status Codes for a list of all lease activity status codes and their meanings.

• ACT STATUS DATE
  The date of the last activity status change is displayed.

• ACCRUED TO DATE
  The date to which income has been accrued for the lease is displayed. An example of accrual sensitive variables for a lease on a monthly accrual/billing cycle is as follows:

Lease commences January 1st (payments in arrears)
Income is accrued for January 1st through January 31st
ACCRUED TO DATE = February 1st
A/R (payment due) for February 1st
NEXT PAYMENT DUE DATE BILLED = March 1st
ACTUAL PAYMENT DUE DATE = February 1st
NUMBER OF PAYMENTS ACCRUED = one (1)

• LAST UPDATE DATE
  The date that any field in the Master Financial (RLS) record was last changed is displayed. Updates such as the Lease maintenance update [U0202], or the Cycle Accrual update [U0301], change information in the Master Financial record.

• LAST UPDATE TIME
  The time that any field in the Master Financial record was last changed is displayed.

• # PMTS ACCRUED
  The number of payments accrued over the life of the lease is displayed. This field can be used to indicate where the lease currently is in its payment schedule. It only includes the first advance payment.

  Example #1:
  
  Payment Schedule
  3 Skip Payments
  9 Monthly Payments
  3 Skip Payments
  9 Monthly Payments

  If the NUMBER OF PAYMENTS ACCRUED equals 3, the lease has accrued the three skip payments and the next payment is the normal monthly payment.

Example #2:

Payment Schedule
1 Skip Payments
2 Weekly Payments
3 Skip Payments
4 Weekly Payments

If the NUMBER OF PAYMENTS ACCRUED equals 7, the lease has accrued the skip payment, two weekly payments, three skip payments and one of the four weekly payments. What remains to be accrued are the three weekly payments.

• # ACCR TO BYPASS
  The number of accruals to bypass because of a payment extension is displayed.

• LEASE EXTENDED
  YES is displayed if the lease has been extended.

• # LEASE EXTENSION
  The number of times the lease has been extended is displayed.

• LEASE EXTENS DATE
  The date of the last lease extension, if applicable, is displayed. Lease extensions are processed through the Lease Extension update [U0108].

• LEASE EXTEN METHD
  The method under which the lease was extended, if applicable, is displayed.

• ACCR METH LESSOR
  The method of rental income recognition for the lessor is displayed. The accrual method also shows whether payments are due in advance (method starts with an A) or arrears (method starts with an R). For descriptions of valid accrual methods, refer to the Calculations document.

• IDC ACCTG METHOD
  The initial direct cost accounting method under which this lease was booked is displayed. There are 2 possible values:

  INCM Income Recognition Method (FAS 13)
  AMOR Amortization Method (FAS 91)
  AMR2 Alt-Amortization Method

  The IDC ACCOUNTING METHOD is established on the first screen of the IDC/IDR Customizations option of the Portfolio update [U0212].

• IDC ASC842 AC PTD
  The IDC ASC 842 accounting method under which this lease was booked is displayed. There are 3 possible values:

  INCM Income Recognition Method (FAS 13)
  AMOR Amortization Method (FAS 91)
  AMR2 Alt-Amortization Method

  The IDC ASC 842 ACCOUNTING METHOD is established on the first screen of the IDC/IDR Customizations option of the Portfolio update [U0212].

• REBOOK ALLOWED
  YES is displayed if the lease may be rebooked. 'NO' is displayed if the original financial information has been changed, thus disallowing the rebook option. The following updates, once performed for a lease, disallow rebooks:
  
  
  • Asset Payoff or Termination [U0103]
  • Payment Reschedule [U0104]
  • Lease Extension [U0108]
  • Asset Add-on [U0113]
    
    
• ACCRUE LATE CHRG
  YES is displayed if late changes are accrued. This field gets set to YES by accruals so that the End of Period Sequential updates can look to assess late charges. Once it assesses late charges, it sets it to NO, so that it does not look for late charges again till the next accrual cycle is run.

• REACCR LST PERIOD
  YES is displayed if the income accrual for the last period should be recalculated (for floating rate interest leases accruing in advance only).

• CAP INTEREST
  YES is displayed if interest during SKIP payment periods should be capitalized. A lease level field controls this accrual.

• ACCRUED PRINCIPAL
  Accrued principal is the net outstanding balance used with the lessor yield factor to calculate the next month's earned income for level yield type leases. It represents the net investment in the lease if there is no security deposit or unearned ITC income.

  The following equations are used to determine net investment:

  • Precomputed interest leases:

    ACCRUED PRINCIPAL
    + SECURITY DEPOSIT
    + UNEARNED ITC
    (if ITC is included in the yield -- see NOTE)

    or

    CONTRACT RECEIVABLE
    + RESIDUAL
    - LESSOR, VENDOR, INVESTOR, and RESIDUAL UNEARNED INCOME
    + UNAMORTIZED BOOK IDC

  Refer to the INITIAL DIRECT COST EXCLUDED FROM YIELD parameter on the first screen of the New Lease Customizations option of the Portfolio update [U0212] for more information.

  • Simple interest leases:

    ACCRUED PRINCIPAL

• CONTRACT RECEIV
  The total of the net unbilled payments that are to be accrued over the remaining life of the lease is displayed (applicable to precomputed leases only).

• PRINCIPAL RECEIV
  The difference between the scheduled income accrual and the actual income accrual for the LT accrual methods (floating rate interest with level payments) is displayed. Refer to the Accrual Methods section in the Calculations document for more information on the LT accrual methods.

• DFRD RESIDUAL RED
  The amount of residual deferred for cash basis RES method extended leases. Refer to the Accrual Methods section in the Calculations document for more information on the RES accrual methods.

• LESSOR REMAIN U/E
  The remaining unearned income to be earned over the life of the lease is displayed (applicable to precomputed leases only).

• LESSOR INCOME PTD
  The earned income for the most recently accrued period is displayed. The date shown on the ACCRUED TO DATE is the end of the most recently accrued period.

• LESSOR INCOME ITD
  For active leases, the income earned on an "irregular payment frequency" period-to-date, but not yet billed is displayed. (Used for leases with quarterly, semi-annually or annual payments). For matured leases, the final period's income billed is displayed.
  

• DEFERRED EXT INCM
  The amount of income deferred for cash basis RES method extended leases. Refer to the Accrual Methods section in the Calculations document for more information on the RES accrual methods.

• RESID REMAIN U/E
  The remaining unearned residual income to be earned over the life of the lease is displayed (applicable to precomputed leases only).

• RESID INCOME PTD
  The earned residual income for the most recently accrued period is displayed. The date shown on the ACCRUED TO DATE is the end of the most recently accrued period.

• RESID INCOME ITD
  For active leases, the residual income earned on an "irregular payment frequency" period-to-date, but not yet billed is displayed. (Used for leases with quarterly, semi-annually or annual payments). For matured leases, the final period's residual income billed is displayed.

• EXT INCM CASH/ACC
  The residual/income recognition basis for extended leases. Either CASH or ACCRUAL may be used depending on the extension method.

• UNAMOR IDC - BOOK
  The remaining amount of initial direct costs not yet amortized is displayed.

• IDC AMORT PTD (BOOK)
  The amount of initial direct costs amortized during the last accrual process is displayed.

• IDC AMORT YTD (BOOK)
  The amount of initial direct costs amortized to date for the current fiscal year is displayed.

• UNAMOR IDC - TAX
  The remaining amount of initial direct costs (tax) not yet amortized is displayed.

• IDC AMORT PTD (TAX)
  The amount of initial direct costs (tax) amortized during the last accrual process is displayed.

• IDC AMORT YTD (TAX)
  The amount of initial direct costs (tax) amortized to date for the current fiscal year is displayed.

• IDC REDUCTION
  The amount of reduction in unamortized initial direct costs (book) is displayed.

• LESSOR INC REDUCTION
  The amount of reduction in lessor earned income is displayed.

• RESID INC REDUCTION
  The amount of reduction in earned residual income is displayed.

• UNAMOR IDC ASC 842
  The remaining amount of IDC ASC 842 not yet amortized is displayed.

• IDC ASC 842 PTD
  The amount of IDC ASC 842 amortized during the last accrual process is displayed.

• IDC ASC 842 YTD
  The amount of IDC ASC 842 amortized to date for the current fiscal year is displayed.

 

Accrual Information: IDC/IDR Amortization

Amortization of IDC and IDR accounts, if any, is displayed.

Field Descriptions

• INS PREM IDC
  The initial direct cost of insurance premium amortized for the period is displayed.

• INS FEE IDR
  The income from insurance fee amortized for the period is displayed.

• NOTARY FEE IDC
  The initial direct cost of notary fee amortized for the period is displayed.

• REGISTRATION FEE IDR
  The income from registration fee amortized for the period is displayed.

• DEALER SUBSIDY IDR
  The income from vendor/dealer subsidy amortized for the period is displayed.

• OPENING COMMISSION IDR
  The income from opening commission amortized for the period is displayed.

• FIXED RATE RESERVES
  The IDC3- Fixed Rate Reserve total amount for the lease is displayed. This field will only appears when Enhanced IDC/IDR module is purchased.

• STANDARD RESERVES
  The IDC4 - Standard Reserve total amount for the lease is displayed. This field will only appears when Enhanced IDC/IDR module is purchased.

• GUARANTEED RESERVES
  The IDC5 - Guaranteed Reserves total amount for the lease is displayed. This field will only appears when Enhanced IDC/IDR module is purchased.

• SUBVENTION
  The total IDR5 - Subvention amount for the lease is displayed. This field will only appears when Enhanced IDC/IDR module is purchased.

• UNAMORTIZED ICD8 RESERVES IDC
  The total unamortized IDC8 reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDC8 RESERVES PTD
  The total IDC8 reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDC8 RESERVES YTD
  The total IDC8 reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• UNAMORTIZED ICD9 RESERVES IDC
  The total unamortized IDC9 reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDC9 RESERVES PTD
  The total IDC9 reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDC9 RESERVES YTD
  The total IDC9 reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• UNAMORTIZED ICDA RESERVES IDC
  The total unamortized IDCA reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCA RESERVES PTD
  The total IDCA reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCA RESERVES YTD
  The total IDCA reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• UNAMORTIZED IDCB RESERVES IDC
  The total unamortized IDCB reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCB RESERVES PTD
  The total IDCB reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCB RESERVES YTD
  The total IDCB reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• UNAMORTIZED IDCC RESERVES IDC
  The total unamortized IDCC reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCC RESERVES PTD
  The total IDCC reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCC RESERVES YTD
  The total IDCC reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• UNAMORTIZED ICDD RESERVES IDC
  The total unamortized IDCD reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCD RESERVES PTD
  The total IDCD reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCD RESERVES YTD
  The total IDCD reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• UNAMORTIZED ICDE RESERVES IDC
  The total unamortized IDCE reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCE RESERVES PTD
  The total IDCE reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCE RESERVES YTD
  The total IDCE reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• UNAMORTIZED ICDF RESERVES IDC
  The total unamortized IDCF reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCF RESERVES PTD
  The total IDCF reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCF RESERVES YTD
  The total IDCF reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• UNAMORTIZED IDCG RESERVES IDC
  The total unamortized IDCG reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCG RESERVES PTD
  The total IDCG reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCG RESERVES YTD
  The total IDCG reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• UNAMORTIZED IDCH RESERVES IDC
  The total unamortized IDCH reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCH RESERVES PTD
  The total IDCH reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• IDCH RESERVES YTD
  The total IDCH reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE UNEARNED IDC8 RESERVES IDC
  The total alternate unearned IDC8 reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDC8 RESERVES PTD
  The total alternate IDC8 reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDC8 RESERVES YTD
  The total alternate IDC8 reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE UNEARNED IDC9 RESERVES IDC
  The total alternate unearned IDC9 reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDC9 RESERVES PTD
  The total alternate IDC9 reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDC9 RESERVES YTD
  The total alternate IDC9 reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE UNEARNED IDCA RESERVES IDC
  The total alternate unearned IDCA reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCA RESERVES PTD
  The total alternate IDCA reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCA RESERVES YTD
  The total alternate IDCA reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE UNEARNED IDCB RESERVES IDC
  The total alternate unearned IDCB reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCB RESERVES PTD
  The total alternate IDCB reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDC8 RESERVES YTD
  The total alternate IDCB reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE UNEARNED IDCC RESERVES IDC
  The total alternate unearned IDC8 reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCC RESERVES PTD
  The total alternate IDCC reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCC RESERVES YTD
  The total alternate IDCC reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE UNEARNED IDCD RESERVES IDC
  The total alternate unearned IDCD reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCD RESERVES PTD
  The total alternate IDCD reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCD RESERVES YTD
  The total alternate IDCD reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE UNEARNED IDCE RESERVES IDC
  The total alternate unearned IDCE reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCE RESERVES PTD
  The total alternate IDCE reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCE RESERVES YTD
  The total alternate IDCE reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE UNEARNED IDCF RESERVES IDC
  The total alternate unearned IDCF reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCF RESERVES PTD
  The total alternate IDCF reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCF RESERVES YTD
  The total alternate IDCF reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE UNEARNED IDCG RESERVES IDC
  The total alternate unearned IDCG reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCG RESERVES PTD
  The total alternate IDCG reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCG RESERVES YTD
  The total alternate IDCG reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE UNEARNED IDCH RESERVES IDC
  The total alternate unearned IDCH reserves amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCH RESERVES PTD
  The total alternate IDCH reserves period-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• ALTERNATE IDCH RESERVES YTD
  The total alternate IDCH reserves year-to-date amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• SUBVENT 1
  The total subvention 1 amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• SUBVENT 2
  The total subvention 2 amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• SUBVENT 3
  The total subvention 3 amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• SUBVENT 4
  The total subvention 4 amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• SUBVENT 5
  The total subvention 5 amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased.

• UNAMR DLR BONUS
  The unearned dealer bonus amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch Allow Dealer Bonus is set to Y from U0212 Portfolio - Assessment Customization.

• SUSP 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 switch Allow Dealer Bonus is set to Y from U0212 Portfolio - Assessment Customization.

• DLR RESV IDC
  The total dealer reserve amount is displayed for the lease. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch “Allow Dealer Reserve” is set to Y from update U0212 - Portfolio.

• SUSP 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 switch “Allow Dealer Reserve” is set to Y from update U0212 - Portfolio.

• DLR RESERVE PTD
  The period-to-date dealer reserve is displayed.
  
  

• DLR RESERVE YTD
  The year-to-date dealer reserve is displayed.
  
  

• DEALER BUY DOWN
  The total IDR6 - Dealer Buy Down amount for the lease is displayed. This field will only appears when Enhanced IDC/IDR module is purchased.

• CREDIT LIFE INSURANCE 1
  The total IDR7 - Credit Life Insurance 1 amount for the lease is displayed. This field will only appears when Enhanced IDC/IDR module is purchased.

• CREDIT LIFE INSURANCE 2
  The total IDR8 - Credit Life Insurance 2 amount for the lease is displayed. This field will only appears when Enhanced IDC/IDR module is purchased.

• CR DISIBILITY INS 1
  The total IDR9 - Credit Disability 1 amount for the lease is displayed. This field will only appears when Enhanced IDC/IDR module is purchased.

• CR DISABILITY INS 2
  The total IDRA - Credit Disability Insurance 2 amount for the lease is displayed. This field will only appears when Enhanced IDC/IDR module is purchased.

• ACQUISITION FEE
  The total IDRB -Acquisition Fee amount for the lease is displayed. This field will only appears when Enhanced IDC/IDR module is purchased.

• WARRANTY FEE
  The total IDRC - Warranty Insurance Fee amount for the lease is displayed. This field will only appears when Enhanced IDC/IDR module is purchased.

 

Vehicle Finance users: this feature is part of Vehicle Finance. The appearance of the above fields is conditional with IDC/IDR fees entered on the lease.

 

Accrual Information: Additional Information

Field Descriptions

• ACCRUED USE TAX
  The total lease-to-date use tax accrued for all assets belonging to the lease is displayed.

• PMT AMT ACCRD YTD
  The total amount of payments accrued year-to-date for the lease is displayed. This amount appears on the Taxable Income report [R0301] for a true lease tax type, where the taxable income is for accrual basis tax reporting. Refer to the Taxable Income report [R0301] for more information.

• TITLING TAX
  The titling tax paid up-front, as entered through the Book Lease option of the New Lease update [U0101], is displayed.

• RENTAL INCOME YTD
  The total accrued income (lessor + vendor + investor) is accumulated in this field on a periodical basis and may be cleared (reset to zero) at the end of the year 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 Clear Year to Date Fields update [U0482] is executed.

• LESSOR INCOME YTD
  The year-to-date rental income accrued for the lessor is displayed.

• RESIDL INCOME YTD
  The year-to-date residual income accrued is displayed.
  
  
• RENTAL INCOME PREVIOUS YTD
  The previous YTD rental income is displayed.
  

This field will not display previous YTD information until the first End of Year process is run.

• ACCUM DEPREC
  The life-to-date book depreciation for the lease, based on each asset's book depreciation method, is displayed. This information is applicable to operating leases only.
  
  
• UNRECOG OPER INCM
  The total amount of lease payments for straight-line operating leases (AOSL, ROSL) not yet recognized as income for book purposes (due to varying payment schedules) is displayed. This field is applicable to straight-line operating leases only. If the payment stream is not straight line or if interim rent or down payment was entered at lease booking, the difference between the amount actually due and the amount accrued is held in this field (for straight-line operating leases, the interim rent and down payment are recognized as income over the term of the lease).

• P/I ADJUST (OP)
  The principal/income adjustment amount (for income accrual purposes) for operating leases is displayed.

• OUTS LOAN BAL-IBL
  The current outstanding principal balance as of the current date for an interest bearing loan is displayed. If any principal balance changes (i.e., payments, payment reversals, add-ons, etc.) with an effective date after the current date were processed, they are not included in the OUTSTANDING LOAN BALANCE shown. They are included if the current date is on or after the effective date.

• GL LESSOR INCOME MONTH TO DATE (MTD)
  When the GL Lessor Income is selected in the End of Period Customization option of the Portfolio [U0212] update, for end of month processing, LeasePak will read through the RTX file for each lease and add and subtract the debits and credits to calculate the month to date GL lessor income.

• GL LESSOR INCOME YEAR TO DATE (YTD)
  When the GL Lessor Income is selected in the End of Period Customization option of the Portfolio [U0212] update, for end of month processing, LeasePak will read through the RTX file for each lease and add and subtract the debits and credits to calculate the year to date GL lessor income.

• GL LESSOR INCOME LIFE TO DATE (LTD)
  When the GL Lessor Income is selected in the End of Period Customization option of the Portfolio [U0212] update, for end of month processing, LeasePak will read through the RTX file for each lease and add and subtract the debits and credits to calculate the life to date GL lessor income.
  
  
• GL LESSOR INCOME PREVIOUS (YTD)
  The G/L Lessor Income Previous YTD is displayed. This field works in conjunction with the GL Lessor Income Totals module (part of the JULE 1997 package) and is new LeasePak functionality for release v5.0a.

  The GL Lessor Income Totals module, will calculate all GL Lessor Income [U0446] for leases that were booked after the option was selected. Any leases booked prior to the selection in Portfolio [U0212] or purchase of the JULE 1997 package will be calculated on a forward basis.

• SCHED INT PTD-SIM
  The scheduled interest amount, based upon the initial starting parameters of a simple interest floating rate loan, is displayed. Scheduled interest is calculated for the LT, VT, VV, and VL simple interest accrual methods.

• U/E CHANGES YTD
  The amount of changes to unearned lessor income during the year is displayed. This field is currently not used by LeasePak.

• CONT RECEIV BOY
  The contract receivable at the beginning of the year is displayed (applicable to precomputed leases only). This field is currently not used by LeasePak.

• LESSOR U/E BOY
  The unearned lessor income at the beginning of the year is displayed. This field is currently not used by LeasePak.

• RESIDUAL BOY
  The residual income at the beginning of the year is displayed. This field is currently not used by LeasePak.

 

Accrual Information: Suspended Earnings

Field Descriptions

• DATE ON SUSPENSN
  The last date the earnings were suspended for the lease is displayed.

• SUSPEND EFF DATE
  The effective date of the earnings suspension for the lease is displayed.

• 1ST PMT ON SUSPEN
  The first payment due date for which earnings were suspended is displayed.

• SUSP INC ACCR LES
  The lessor income accrued while the lease is on suspension is displayed.

• SUSP IDC ACCR
  The amount of suspended IDC accrued for the lease is displayed.

• SUSP IDC ASC 842
  The amount of suspended IDC ASC 842 accrued for the lease is displayed.

• SUSP INC COLLECTD
  The income collected while the lease is on suspension is displayed.

• 1ST SUSPENDED PMT
  The amount of suspended income on the first payment suspended is displayed (applicable to leases with quarterly, semi-annually and annual payments), leases suspended in the middle of a payment period).

 

Accrual Information: Deferred Income IDC/IDR Information

The Deferred Income IDC/IDR Information will be displayed leases where the Prorate Inc IDC/IDR (Y/N) field in U0212MI is turn on.

Field Descriptions

• INCOME
  The deferred income amount for the current period.

• IDC
  The deferred IDC amortization amount for the current period.

• INS PREM IDC1
  The deferred Insurance Premium IDC1 amortization amount for the current period.

• NOTARY FEE IDC2
  The deferred Notary Fee IDC2 amortization amount for the current period.

• INS FEE IDR1
  The deferred Insurance Fee IDR1 amortization amount for the current period.

• REG FEE IDR2
  The deferred Registration Fee IDR2 amortization amount for the current period.

• DLR SUBSIDY IDR3
  The deferred Dealer Subsidy IDR3 amortization amount for the current period.

• OPEN COMM
  The deferred Opening Commission IDR4 amortization amount for the current period.

• PTD INCOME
  The deferred Period to Date income amount for the current period.

 

Payment Information

The Payment Information section of the report provides current and historical payment information for the lease.

• General
• Late Charges/Delinquency
• Billing Information
• Midterm Adjustments
• Automatic Payment Settings
• Payment Schedule

 

Payment Information: General

The first part displays general information of the lease.

Field Descriptions

• ACT LAST PMT DATE
  The date the last payment to this lease was processed is displayed.

• ACT NEXT PMT DATE
  The due date of the most delinquent invoice on the Accounts Receivable (RAR) file is displayed. If there are not any outstanding invoices, the next payment date is displayed.

• LST PMT DUE BILLD
  The due date of the last payment billed is displayed. When the lease next accrues income, the Accounts Receivable (RAR) record with this date is checked to see if it is paid. If not, late charges may be assessed.

• LST PMT EFF DATE
  The effective date of the last payment processed is displayed.

• NXT PMT TO BILL
  The due date the next payment is to be billed through the accrual process is displayed.

• PAYMENT DUE DAY
  The billing frequency value along with the corresponding due day(s) will display.
  
  For example:
  
  

  M -Monthly / 15	Monthly payments due on the 15th
  S - Semi-monthly / 1, 25	Semi-monthly payments due on the 1st and 25th
  W - Weekly / FRI	Weekly payments due on every Friday
  B - Bi-weekly / MON	Bi-weekly payments due on every other Monday

• PMT DUE LAST ACCR
  YES is displayed if a payment was due during the last accrual. This information is for system use only.

• PAYMENT HIERARCHY
  Payment hierarchy code of the Lease is displayed.

• NET RECEIPTS YTD
  The total dollar amount of the payments received year-to-date is displayed. This amount appears on the Taxable Income report [R0301] for true lease tax types, where the taxable income is for cash basis tax reporting. It may be cleared (reset to zero) at the end of the year through Clear Year to Date Fields update [U0482]. 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 update is executed.

• NET RECEIPTS LTD
  The total dollar amount of the payments received life-to-date is displayed.

• OTHER INCOME YTD
  The total dollar amount of other income received year-to-date is displayed. Examples of other income include late charge and other assessment income. This amount appears on the Taxable Income report [R0301] and may be cleared (reset to zero) at the end of the year through the Clear Year to Date Fields update [U0482]. Use the END OF PERIOD MODULES AND REPORTS screen under the End of Period Customizations option [EP] of the Portfolio update [U0212] to specify whether the update is executed.

• OTHER INCOME LTD
  The total dollar amount of other income received life-to-date is displayed. Examples of other income include late charge income, termination/payoff fees, etc.

• PRINCIPAL PD YTD
  The year-to-date repayment of principal accrued on the asset is displayed. This field is reset to zero at year-end. For assets with a CAPITAL COST ALLOWANCE TYPE of L (specified leasing property), this amount is used in the calculation of capital cost allowance. For other types of assets, it is informational only.

• PRINCIPAL PD YTD
  The year-to-date repayment of principal accrued on the asset is displayed. This field is reset to zero at year-end. For assets with a CAPITAL COST ALLOWANCE TYPE of L (specified leasing property), this amount is used in the calculation of capital cost allowance. For other types of assets, it is informational only.

• PRINCIPAL PD LTD
  The repayment of principal accrued on the asset life-to-date as of the last year- end is displayed. For assets with a CAPITAL COST ALLOWANCE TYPE of L (specified leasing property), this amount is used in the calculation of capital cost allowance. For other types of assets, it is informational only.

• INTEREST PAID YTD
  For interest bearing loans only: the interest paid year-to-date for the loan is displayed.

• INTEREST PAID LTD
  For interest bearing loans only: the interest paid life-to-date for the loan is displayed.

• # PMTS PROCESSED
  The total number of payments processed for the lease or interest bearing loan is displayed.

• OUTST A/R BALANCE
  The total accounts receivable (including use tax) currently due is displayed.

• AMOUNT CURR PAID
  The total of lease payments paid. The PRINT PAYMENT AMOUNT ON INVOICE switch on the Portfolio file should be set to Y if you wish to reset the field to zero each time invoice is printed during end of period.

• AMOUNT LAST PAID
  If the LAST PAID AMOUNT ON INVOICE switch on the Miscellaneous Customization option of the Portfolio update is set to Y, the amount from AMOUNT CURR PAID will be carried over into this field during invoicing at end of period.

• INT CARRYOVER IBL
  With release 2.1a of LeasePak, this field is legacy only, no longer in use.

• INT UNPAID IBL
  For interest bearing loans only: the total amount of interest unpaid through the last payment effective date is displayed. When a late payment results in additional interest, that interest is billed on the next invoice to accrue. When an early payment results in an interest credit, future interest billing is automatically reduced by the amount of the credit.

Payment Information: Late Charges/Delinquency

Field Descriptions

• LATE CHARGE CODE
  Late charge code for lease is displayed.

• LATE CHRG WAIVER
  The total dollar amount of late charges waived life-to-date for this lease is displayed. Late charges are waived through the Assessment Waiver option of the Assessment update [U0105].

• # LATE CHARG WAIV
  The number of times late charges have been waived for this lease is displayed. Late charges are waived through the Assessment Waiver option of the Assessment update [U0105].

• # TIMES DELNQ 30
  The number of times the lease has had invoices one to 30 days delinquent is displayed. These counters increment during End of Day Sequential Updates [U0411] in the Late Charges Calculation and Assessment module, providing the lease has delinquent, unpaid invoices. The counters will not be updated if this module is not run at End of Day or if the Late Charge Method for the lease is NONE. The ending day 30 is a customized value. The counters work independent of any U0212 Assessment Customization Delinquent Calculation switches. The ending day 30 is a customized value. Refer to the DELINQUENCY CATEGORY BOUNDARIES parameters on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212].

• # TIMES DELNQ 60
  The number of times the lease has had invoices 31 to 60 days delinquent is displayed.

• # TIMES DELNQ 90
  The number of times the lease has had invoices 61 to 90 days delinquent is displayed.

• # TIMES DELNQ 120
  The number of times the lease has had invoices 91 to 120 days delinquent is displayed.

• # TIMES DELNQ 150
  The number of times the lease has had invoices 121 to 180 days delinquent is displayed.

• # TIMES DELNQ 180
  The number of times the lease has had invoices 180 days delinquent is displayed.

• # TIMES DELNQ 180+
  The number of times the lease has had invoices 181 or more days delinquent is displayed.

• # TIMES DELNQ 181+
  The number of times the lease has had invoices 181 or more days delinquent is displayed.

Payment Information: Billing Information

Field Descriptions

• PURCH OPT BILLING
  The method of determining if the Fixed Price Purchase Option (FPPO) should be billed one-time only or continuously, until paid or some other action is taken (e.g., a lease extension) is displayed. The purchase option billing methods are:

CONT Continuous billing
ONCE One-time billing
NONE Do not bill

• ADVANCED INV DAYS
  With purchase of the 1994 JULE Fund, it is possible to produce invoices up to 120 days prior to their due dates. Such invoices do not affect the G/L, do not accrue, until 30 days or less before they're due. The number of days for advanced invoicing, established on the Lease Form table [U0721], appears here.

Payment Information: Midterm Adjustments

Field Descriptions

• # PMT EXTENSIONS
  The total number of payment extensions are displayed. The counter starts at the inception of the lease.

• # MTHS PMT EXT
  The total number of months the lease has been extended for since inception of the lease.

• PMT EXTENDED FROM
  The date that payments were extended from for the last payment extension is displayed.

• PMT EXTENDED TO
  The date that payments were extended to for the last payment extension is displayed.

• # BILLING FRQ CHG
  The total number of billing frequency changes are displayed. The counter starts at the inception of the lease.

• NEW PMT STRT DATE
  Th payment start date of the most recent billing frequency change is displayed.

• # DUE DATE CHNGES
  The number of times the payment due day has been changed is displayed. This counter starts at the inception of the lease.

• # PMT RESCHEDULES
  The total number of payment reschedules are displayed. The counter starts at the inception of the lease.

• # PMT DEFERRALS
  The total number of payment deferrals are displayed. The counter starts at the inception of the lease.

• # PMT REWRITES
  The total number of payment rewrites are displayed. The counter starts at the inception of the lease.

Payment Information: Automatic Payment Settings

Field Descriptions

GENERAL INFORMATION

• AUTO-PAY INTERVAL
  Auto-pay payment interval payment for the lease, if any, will display.

• AUTO-PAY PREV AMT
  The auto-pay previous amount is displayed.

• AUTO-PAY INV DUE
  Auto-Pay invoice due date when the auto payment invoice due is displayed.

• AUTO-PAY COUNTER
  Auto-pay counter for lease.

PAYMENT PROCESS

• 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
  The selected type of amount for auto-pay set at U0212 Portfolio - Auto-Pay Customizations level is displayed.

• AUTO-PAY OTHR AMT
  The auto-pay other amount is displayed.

PAP/ACH INFORMATION

• PAP/ACH (Y/N/1/2/3)
  The Pre-Authorized Payment switch is displayed. 'Y' means PAP is used on the lease, 'N' means PAP is not used on the lease.

  If you use ACH (Automated Clearing House) type PAP, three options are available in addition to 'Y' and 'N':

  • 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.

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

• PAP/ACH EFF. DATE
  PAP/ACH effective date is displayed.

ELECTRONIC PAYMENT SOURCE

• 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.

• EXPIRATION
  The auto-pay ending date is displayed. The expiry date of the credit or debit card is displayed.

• LAST 4 DIGITS
  The last 4 digits of the credit/debit card is displayed.

Payment Information: Payment Schedule

Field Descriptions

• SCHEDULE
  The starting and ending payment number for each payment schedule line is displayed.

• NUMBER
  The number of payments for each payment schedule line is displayed.

• FREQUENCY
  The frequency/type of the payments (e.g., weekly, bi-weekly, semi-monthly, monthly, advance monthly, skip, quarterly, etc.) for each payment schedule line is displayed.

• PAYMENT AMOUNT
  The payment amount (excluding use tax) for each payment schedule line is displayed.

For detailed description on scheduled payments, number, frequency, and amount for payment schedule are determined, refer to Payment Schedule overview document.

• FINAL PAYMENT DUE DATE
  The final payment due date is displayed.

• FINAL PAYMENT AMOUNT DUE
  The total final payment amount due is displayed.

 

Payoff Information

The Payoff section of the report provides information needed to quote lease payoffs or terminations. If the lease has already been paid off or terminated and has been deleted off the Master Financial file, the Closed out Lease section is the only section printed for the report.

 

Field Descriptions

If the lease has already been paid off or terminated, and is still on the Master Financial file, or if the lease has not paid off or terminated, the following information is provided:

• BASE PAYOFF
  The base payoff amount of the lease is displayed. The calculation of the base payoff amount is dependent upon the payoff method, as entered on the selection screen. A wide range of values for the base payoff may be obtained depending upon the payoff method used to calculate the base payoff. Generally, the smallest base payoff amount is calculated using the outstanding net investment method (INV).
  
  If the payoff amount cannot be calculated, UNABLE TO CALCULATE is displayed. Possible reasons why a payoff amount cannot be calculated are:
  
  
  • An illegal date was encountered
  • Location (RLO) record missing
  • Asset (REQ) record missing
  • State (RST) record missing
  • Base Rate (RPR) record missing
    
    
• PAYMENTS OUTS
  The accounts receivable due up to and including the EFFECTIVE DATE less any payments or credits paid after the EFFECTIVE DATE is displayed. Principal receivable for simple interest floating rate (LT) leases is also included in this figure. This value may be negative if the lessee has made payments past the EFFECTIVE DATE. These payments must be reversed if the payoff or termination is actually performed (through the Payoff update [U0103]).

• ASSESSMENTS OUTS
  The total of all assessments due (e.g., use tax, late charges, collection fees, property taxes, recurring charges, etc.), regardless of the EFFECTIVE DATE, are displayed. However, use tax and recurring charges for payments due after the EFFECTIVE DATE are not included.

• ADDL INTEREST
  The calculated additional interest due based on the payoff method is displayed.

• FEES/PENALTIES
  The fees or penalties due for the payoff or termination as specified in the lease form code are displayed.

• SALES TAX
  The sales tax calculated, if specified as collectible in the lease form code, is displayed. The sales tax amount is calculated on the BASE PAYOFF AMOUNT.

• ITC RECAPTURE
  The ITC recapture due, as specified in the lease form code, is displayed. The fee charged to the lessee equals the total amount of ITC to be recaptured.

• PAYOFF AMOUNT
  The total dollar payoff amount includes the following:

  BASE PAYOFF
  + PAYMENTS OUTS
  + ASSESSMENTS OUTS
  + ADDL INTEREST
  + FEES/PENALTIES
  + SALES TAX
  + ITC RECAPTURE

  If the payoff amount cannot be calculated, 'UNABLE TO CALCULATE' is displayed. Refer to the BASE PAYOFF field for a list of possible reasons why a payoff amount cannot be calculated.

• SECURITY DEPOSIT
  The refundable security deposit held for the lessee is displayed. The SECURITY DEPOSIT is not automatically deducted from the total payoff amount, except for the WO payoff method. When quoting a payoff or termination amount to the lessee, it should be deducted from the total payoff shown if it is to be used as funds for the payoff or termination. It should not be deducted from the total payoff shown if it is to be refunded to the lessee on payoff or termination.

• TERMINATION AMT
  The total dollar amount required to terminate the lease (when the lessee returns the leased asset) includes the following:

PAYMENTS OUTSTANDING
+ FEES/PENALTIES for the termination

• EFFECTIVE DATE
  The effective date of the payoff quote is displayed. This is the date entered on the selection criteria for the report.

• GOOD UNTIL
  The date to which the payoff quote is valid is displayed. The GOOD UNTIL date is normally the date of the next accrual at which time the payoff quote may change. The GOOD UNTIL date may be in the past for suspended leases. For interest bearing loans, the GOOD UNTIL date is the effective date of the quote.

• MATURITY DATE
  The due date of the fixed price purchase option (the maturity date of the lease) is displayed.

• P/O CALC METHOD
  The payoff calculation method for the lease is displayed. Refer to the Calculations document for detailed information on payoff calculation methods.

• FUTURE PMTS RECD
  YES is displayed if future payments (past the accrued to date) are assumed to be received on the payment due date. NO is displayed if no future payments are assumed to be received.

• PURCHASE OPT METH
  The purchase option method (e.g., percentage, calculated, fixed, etc.) is displayed.

• NOTE
  A note associated with the payoff calculation is displayed, if applicable. This note indicates whether or the lease forms record (RCA)is found. It is set to N/A if it is found. Otherwise, it displays a message indicating that it is not found.

• PAYOFF REASON
  The payoff reason code for a lease is displayed if it was set during payoff or termination. The possible values can be the following:
  • ERROR - Remover due to error
  • FRAD - Remove due to fraud

• GROSS REC BALANCE
  The gross receivable balance, as defined through the Calculations Customizations option of the Portfolio update [U0212] is displayed.

• NET OUTS BALANCE
  The net outstanding balance, as defined through the Calculations Customizations option of the Portfolio update [U0212] is displayed.

• GROSS OUT BALANCE
  The gross outstanding balance, as defined through the Calculations Customizations option of the Portfolio update [U0212] is displayed.

• FIXED PRICE PURCH
  The fixed price purchase amount is displayed.

• NUMBER OF BUYOUT QUOTES
  The number of buyout quotes on a lease is displayed.

• CLOSE TYPE
  The type of the transaction (PAYOFF or TERMINATION) is displayed if the lease has already been paid off or terminated.

• EFF DATE OF CLOSE
  The effective date of the payoff or termination is displayed if the lease has already been paid off or terminated.

• ACT DATE OF CLOSE
  The actual processing date and time of the payoff or termination is displayed if the lease has already been paid off or terminated.

• CLOSE METHOD
  The method of the base payoff calculation (e.g., net investment, net present value of remaining payments) is displayed if the lease has already been paid off or terminated. This information is entered through the Payoff update [U0103].

• PAYOFF SOURCE
  The source of the payoff funds is displayed if the lease has already been paid off or terminated. This information is entered through the Payoff update [U0103].

• TRANSACTION CODE
  The long form of the type of payoff or termination transaction is displayed if the lease has already been paid off or terminated. The transaction code also indicates if the payoff or termination was early or at lease maturity.

• PAYOFF TAX AMT
  The portion of the lease/asset payoff amount, or the asset sale/price on which sales/use tax was calculated is displayed. This amount could represent the total base payoff amount, the residual, the fair market value (FMV), or an amount entered by the user at the time of the payoff or sale.

• PAYOFF AMT DUE
  The total calculated payoff or termination amount due is displayed if the lease has already been paid off or terminated.

• PROCEEDS OF SALE
  The total amount received for the payoff or termination is displayed if the lease has already been paid off or terminated.

• GAIN/LOSS
  The recorded gain or loss on termination is displayed if the lease has already been paid off or terminated.

• ALLOWANC BAD DEBT
  The recorded reduction against bad debt for any payoff or termination shortage is displayed if the lease has already been paid off or terminated.

 

Credit Bureau Information

The Credit Bureau Information section of the report include Credit Bureau Extract information for the lease. The credit bureau section of the report displays fields for credit bureau extract information associated with the lease. Most of these fields are optional and may or may not contain field values.

 

Field Descriptions

• METRO 2 CODE
  The metro 2 code and description that is associated to the lease is displayed.

• SUBSTATUS
  The code and description for the lease substatus is displayed.

• SPECIAL COMMENT
  The credit bureau special comment code and code description for the lease is displayed.

• COMPILANCE COND
  The credit bureau compliance condition code for the lease is displayed.

• MON PMT HIST
  The 24-month payment history profile for the lease is displayed.

• CB CLOSED (Y/N)
  The report will display 'Yes' if a lease has been reported as closed to the credit bureaus and 'No' otherwise.

• CB DELETED (Y/N)
  The report will display 'Yes' if a lease has been reported as deleted to the credit bureaus and 'No' otherwise.

• NEXT PMT HIST
  The Next Payment History Status code is displayed. This is the payment code U0462 Credit Bureau Extract has applied to 24-month payment history profile for the next reporting period.

• STOP REPORTING ACCOUNT
  The report will display either 'Yes' or 'No' whether or not the U0462 Credit Bureau Extract reports the lease to the credit bureaus.

• STOP REPORTING REASON
  The reason code for the lease to be excluded from the credit bureau reporting is displayed.

• ASSUMPTION DATE
  The date the lease was assumed is displayed. The date format will either be MM/DD/YY or DD/MM/YY format depending on the User's Date Format Preference settings from U0706 Security.

• ASSUMED TERM
  The remaining term at the time the lease was assumed is displayed.

• ASSUMED BALANCE
  The current balance at the time the lease was assumed is displayed.

• ASSET(s) RETURN DATE
  The return date of the asset(s) on the lease is displayed. The date format will either be MM/DD/YY or DD/MM/YY format depending on the User’s Date Format Preference settings from U0706 Security.

• RECALC PMT HIST
  The recalculate payment history status as 'YES' or 'No' is displayed. Whether or not End of Month will recalculate the next moth +24-month payment history profile.

Fields in "FROZEN"

• ACCOUNT STATUS
  The account status for the lease is displayed. The first character in the report value shows whether or not the credit bureau Account Status is frozen. The remaining two characters show the frozen status if it exist, followed by the code description.

• PAYMENT RATING
  The payment rating status is displayed for a lease. The first character in the report value shows whether or not the credit bureau Payment Rating is frozen. The remaining character shows the frozen payment rating if it exist.

  NOTE: Whether Account Status is frozen, Payment Rating is also frozen.

• CURRENT BALANCE
  Display the frozen current balance if it exist. The first character in the report value shows whether or not the credit bureau Current Balance is frozen.

• AMOUNT PAST DUE
  Shows the amount the frozen amount past due if it exist. The first character in the report value shows whether or not the credit bureau Amount Past Due is frozen.

• DATE OF FIRST DELINQ
  The date shows the frozen DOFD if it exist. The date format will either be MM/DD/YY or DD/MM/YY format depending on the User's Date Format Preference settings from U0706 Security. The first character in the report value shows whether or not the credit bureau Date of First Delinquency is frozen.

 

Participation Information

The Participation Information section of the report provides accrual information when the vendor and/or investor participates in the lease.

 

Field Descriptions

• VENDOR
  The vendor number is displayed.

• 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.

• VENDOR SIMPLE RAT
  The simple interest rate for the vendor is displayed. This is applicable for simple interest rate leases only.

• VENDOR PART RATE
  The participation rate of the vendor, if participating in a percentage of the lease payment, is displayed. This field is not applicable if the vendor is participating in the income earnings of the lease.

• VENDOR RECEIVABLE
  The unaccrued portion of the payments due to the vendor (if the vendor participates in a percentage of the payment) is displayed. This field is not applicable if the vendor participates in a portion of the income earnings of the lease.

• VEN PMT REC PTD
  The current period's payment receivable for the vendor is displayed. This field is not applicable if the vendor participates in a portion of the income earnings of the lease.

• VENDOR ACCR METH
  The method of rental income recognition for the vendor is displayed. The accrual method also shows if payments are due in advance (i.e., accrual method starts with an A) or arrears (i.e., accrual method starts with an R) for the lease. This field is not applicable if the vendor is participating in a percentage of the lease payment.

• VENDOR ORG U/E
  The total rental income to be earned by the vendor over the life of the lease is displayed. This field is not applicable if the vendor is participating in a percentage of the lease payment.

• VENDOR REMAIN U/E
  The remaining rental income to be earned by the vendor is displayed. This field is not applicable if the vendor is participating in a percentage of the lease payment.

• VEN PMT PART UE
  The remaining unpaid (by the lessee) portion of the payments due to the vendor is displayed. This field is not applicable if the vendor participates in a portion of the income earnings of the lease.

• VEN SUSP INC ACCR
  The vendor income accrued while the lease is on suspension is displayed.

• VENDOR PART CODE
  The participation payment type for this vendor is displayed. Vendors may participate in the payments or income of leases as long as their PARTICIPATION CODE is not zero. Valid participation codes are:
  
  
  • 0 (zero) This vendor may not participate in the income of any leases.
  • 1 Participation is paid monthly to the vendor on leases in which the vendor is participating.
  • 2 Participation is paid quarterly to the vendor on leases in which the vendor is participating. Quarterly payments are made in March, June, September, and December.
    
    
• VENDOR INCOME PTD
  The earned vendor income for the most recently accrued period is displayed. The date shown on the ACCRUED TO DATE field, found in the Accrual section of the Lease Inquiry [R0905], is the end of the most recently accrued period. This field is not applicable if the vendor is participating in a percentage of the lease payment.

• VENDOR INCOME ITD
  The vendor's portion of the rental income earned on an "irregular payment frequency" period-to-date and pending disbursement is displayed. Disbursement of vendor earned rental income is based on participation payment frequency (monthly or quarterly). This field is not applicable if the vendor is participating in a percentage of the lease payment.

• VENDOR INCOME YTD
  The year-to-date rental income accrued for the vendor is displayed.

• INVESTOR
  The investor number is displayed.

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

• INVST SIMPLE RAT
  The simple interest rate for the investor is displayed. This is applicable for simple interest rate leases only.

• INVST FACTOR
  The investor's portion of the contract rate is displayed. This information is applicable for precomputed interest leases only.

• INVEST ACCR METH
  The method of rental income recognition for the investor is displayed. The accrual method also shows if payments are due in advance (i.e., accrual method starts with an A) or arrears (i.e., accrual method starts with an R) for the lease.

• INVEST ORG U/E
  The original amount of income to be earned by the investor is displayed.

• INVEST REMAIN U/E
  The remaining rental income to be earned by the investor is displayed.

• INV SUSP INC ACCR
  The investor income accrued while the lease is on suspension is displayed.

• INVEST INCOME PTD
  The earned investor income for the most recently accrued period is displayed. The date shown on the ACCRUED TO DATE field, found in the 'Accrual' sub- section of the Lease Inquiry [R0905], is the end of the most recently accrued period.

• INVEST INCOME ITD
  The investor's portion of the rental income earned on an "irregular payment frequency" period-to-date and pending disbursement is displayed.

• INVEST INCOME YTD
  The year-to-date rental income accrued for the investor is displayed.

 

User Defined Fields/Tables

If the User Defined Fields/Tables module is purchased, and user defined fields and/ or table columns for the lease are defined through the User Defined Fields/ Table option of the Portfolio update [U0212], the Lease Inquiry report [R0905] additionally provides the following information at the lease level:

Field Descriptions

• LEASE USER DEFINED FIELDS
  The field names, as defined for the lease in the USER DEFINED FIELDS/ TABLE option of 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 lease, a message is displayed indicating that no user defined field information is available.

• LEASE USER DEFINED TABLE
  The table column headings, as defined for the lease in the USER DEFINED FIELDS/TABLE option of 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 lease, a message is displayed indicating that no user defined table information is available.

• LESSEE USER DEFINED FIELDS
  The field names, as defined for the lessee in the USER DEFINED FIELDS/ TABLE option of 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 lease, a message is displayed indicating that no user defined field information is available.

• LESSEE USER DEFINED TABLE
  The table column headings, as defined for the lessee in the USER DEFINED FIELDS/TABLE option of 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 lease, a message is displayed indicating that no user defined table information is available.

 

Asset Summary

The Asset Summary section of the report provides asset information for the lease. It is also one of the two sections available when running the report for an asset only. All assets, both active and inactive, will be reported on.

 

Field Descriptions

• LEASE DESCRIPTION
  The description of the lease is displayed.

• ASSET
  The asset number is displayed.

• DESCRIPTION
  The description of the asset is listed.

• MANF
  The code of the manufacturer of the asset is listed.

• MODL
  The code of the model type of the asset is listed.

• YR
  The model year of the asset is displayed.

• CLASS
  The classification of the asset is listed.

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

• SUPPLIER
  The number of the asset supplier is displayed.

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

• STAT
  The status of the asset is displayed.

• P.O EFF
  The paid off effective date of the lease is displayed.

 

Asset Detail

The Asset Detail section of the report provides more detail relating to asset(s) associated with the lease. It is also one of two report sections available when reporting on an asset only. All assets, both active and inactive, will be reported on. If there are multiple assets tied to the lease and the lease number is entered as the selection criteria, each asset tied to the lease is reported in this section. If a specific asset number is entered as the selection criteria, only the information for the selected asset is displayed.

 

Asset Detail: General

For Vertex O users only: R0905 will not display Upfront Sales Tax, Use Tax, and Payoff/sales information on the report if asset is a Vertex O asset. For Vertex O asset(s), it will display the County, Tax Area ID, Sales and Use Tax, and Payoff/Sales Information of an asset.

Field Descriptions

• ASSET
  The asset number is displayed.

• DESCRIPTION
  The asset description is displayed.

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

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

• STATE
  The state in which the asset is located is displayed. The city and state location of the asset determines the use tax that is calculated on the payment rental of the asset.

• ZIP
  The zip code of the asset location is displayed.

• COUNTY
  The county name of the asset is displayed. This field will only be displayed if the asset portfolio has sales/use tax assessment.

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

• MANUFACTURER
  The manufacturer of the asset (e.g., DEC, Kodak, Ford) is displayed.

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

• MODEL YEAR
  The model year of the asset is displayed.

• TAX AREA ID
  The tax area ID of the asset location is displayed.

• IDENTIFICATION
  The serial (identification) number of the asset is displayed.

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

• CHECK REFERENCE
  The reference to be printed on the check disbursing the 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.

The Property Tax Assessor [R0305] report will only report those assets that have acquisition date on or before the lien date.

• 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.
  
  
• SYSTEM BOOK DATE
  The date the asset was added to the system (through the Add Asset option of the New Lease update [U0101]) is displayed.
  
  
• ACTIV STATUS DATE
  The date of the last activity status change of the asset is displayed. The asset's activity status may change through such updates as the New Lease update [U0101], the Payoff update [U0113], the Asset Add-on update [U0113], etc.
  
  
• ACTIVITY STATUS
  The system-defined status of the asset (e.g., new on-lease, off-lease inventory, etc.) is displayed.
  
  
• STATUS BEFORE BKG
  The system-defined status of the asset prior to lease booking (if applicable) is displayed.
  
  
• STATUS AT P/O
  The system-defined status of the asset at the time of the payoff is displayed.
  
  
• RESRVD APPLIC #
  If the asset is reserved by an existing lease, the number of the lease is displayed.
  
  
• 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 AMT
  The asset's periodical payment amount is displayed. This is the payment amount used in the cash flow when calculating the asset yield.
  
  
• REPAIR COST
  The repair cost of the asset is displayed. This field is informational only.
  
  
• RESIDUAL UNEARNED
  The asset residual unearned amount is displayed.
  
  
• PROPERTY TAX
  Y is displayed if the asset should appear on the Property Tax Assessor report [R0305]. Pending assets will not appear on the report, regardless of this setting.
  
  
• NEW/USED
  USED is displayed if the asset was purchased used or if it came off-lease into inventory (e.g., through the Termination option of the Payoff update [U0103]).
  
  
• EQT STATUS
  The user-specified status of the asset (i.e., available, not available, in repair, etc.) is displayed.
  
  
• OFF-LEASE
  YES is displayed if the asset is off-lease (in inventory or sold). NO is displayed if the asset is on-lease.
  
  
• % SCHEDULE
  If the asset is on-lease, the percentage the asset contributes to the whole lease is displayed. If the asset is off-lease and is new in inventory, the percentage of schedule will be zero. If the asset is off-lease but was previously linked to a lease (i.e. terminated or paid-off asset), the percentage of schedule at the time of disposition will be displayed.
  
  
• ASSET YIELD
  The yield calculated for the asset is displayed. Asset yields are calculated if the CALCULATE ASSET YIELD parameter (on the first screen of the New Lease Customizations option of the Portfolio update [U0212]) is 'Y'.
  
  
• UPFRONT SALES TAX
  Y is displayed if upfront sales tax is due/was charged for this asset.
  
  
  • ST
    If UPFRONT SALES TAX is Y, the state to which the upfront sales tax is/was paid is displayed.
  • ST RATE
    If UPFRONT SALES TAX is Y, the state rate at which the upfront sales tax is/ was paid is displayed.
  • CT
    If UPFRONT SALES TAX is Y, the county to which the upfront sales tax is/ was paid is displayed.
  • CT RATE
    If UPFRONT SALES TAX is Y, the county rate at which the upfront sales tax is/was paid is displayed.
  • CY
    If UPFRONT SALES TAX is Y, the city to which the upfront sales tax is/was paid is displayed.
  • CY RATE
    If UPFRONT SALES TAX is Y, the city rate at which the upfront sales tax is/ was paid is displayed.
    
    
• ASSESSMENT TAX CLASS
  The assessment tax class code is displayed that whether or not an assessments are taxed.
  
  
• BASE TAX AMT
  If UPFRONT SALES TAX is Y, the amount upon which the upfront sales tax is based is displayed.
  
  
• SALES TAX
  The upfront sales tax amount is displayed.
  
  
• STARTING COST
  The starting cost for this asset is displayed. This value is the value that the asset will use/was used when the asset is/was placed on lease.
  
  
• INVENTORY VALUE
  The current value of an off-lease asset in inventory or the inventory value that the on-lease asset had when it was placed on lease is displayed.
  
  
• ACCOUNTS PAYABLE
  The remaining undisbursed accounts payable for the asset is displayed. The asset may not be sold if there is a remaining amount of accounts payable.
  
  
• GST PAYABLE
  The Goods and Services Tax for the asset is displayed. This field is for Canadian users only.
  
  
• RESID INCOME YTD
  The year-to-date residual income is displayed.
  
  
• RESID U/E ORG
  The original unearned residual is displayed.
  
  
• IDC YTD (BOOK)
  The year-to-date initial direct costs (book) is displayed.
  
  
• IDC YTD (TAX)
  The year-to-date initial direct costs (tax) is displayed.
  
  
• ASSET FIRST LOAN
  The first loan for this asset is displayed.
  
  
• ASSET LAST LOAN
  The last loan for this asset is displayed.
  
  
• OPER/DRIVER NAME
  The name of the person operating the vehicle/equipment is displayed.
  
  
• NOTES PAYABLE
  The notes payable key (if any) attached to the asset is displayed.
  
  
• ASSET ADD-ON DATE
  The date this asset was added onto an existing lease is displayed.
  
  
• LAST LIEN DATE
  The last lien date of property tax assessment for this asset is displayed.
  
  
• ASSOC ASSET
  A separate asset, associated with this asset number, is displayed. This information is typically used to link two or more assets together.
  
  
• STOCK NUMBER
  The stock number of the vehicle is displayed. This field is informational only.
  
  
• ASSET PRE-INVEN
  The switch indicating if the asset is pre-inventory or not is displayed.
  
  
• ASSET P/O DONE
  The switch indicating if an asset payoff was done is displayed.
  
  
• ALLOW TERMIN REV
  The switch indicating if termination reversal is allowed is displayed.
  
  
• TAX BENEFIT CODE
  The asset tax benefit owner code is displayed.
  
  
• NET RECEIPTS YTD
  The net receipts year-to-date for the asset is displayed.
  
  
• NET RECEIPTS LTD
  The net receipts life-to-date for the asset is displayed.
  
  
• OTHER INCOME YTD
  The other year-to-date income for the asset is displayed.
  
  
• OTHER INCOME LTD
  The other life-to-date income for the asset is displayed.
  
  
• PMT ACCR YTD
  The payment amount accrued year-to-date for the asset is displayed.
  
  
• INCOME ACCR YTD
  The lessor income accrued year-to-date for the asset is displayed.
  
  
• LOSS ON TERM YTD
  The year-to-date loss on termination for the asset is displayed.
  
  
• GAIN ON TERM YTD
  The year-to-date gain on termination for the asset is displayed.
  
  
• NBV AT TERMIN
  The net book value of the asset at termination is displayed.
  
  
• FED BV AT PAYOFF
  The Federal book value of the asset at payoff is displayed.
  
  
• ST BV AT PAYOFF
  The State book value of the asset at payoff is displayed.
  
  
• FED AMT BV AT P/O
  The Federal amount of the book value of the asset at payoff is displayed.
  
  
• DEALER BONUS
  The total dealer bonus amount is displayed for the asset. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch "Allow Dealer Bonus" is set to 'Y' from U0212 Portfolio - Assessment Customization.
  
  
• DEALER BONUS PAYABLE
  The total dealer bonus payable amount is displayed for the asset. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch "Allow Dealer Bonus" is set to 'Y' from U0212 Portfolio - Assessment Customization.
  
  
• DEALER BONUS PAY TO
  The dealer bonus payable to is displayed for the asset. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch "Allow Dealer Bonus" is set to 'Y' from U0212 Portfolio - Assessment Customization.
  
  
• DEALER RESERVE
  The total dealer reserve amount for the asset is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch "Allow Dealer Reserve" is set to 'Y' from update U0212 - Portfolio.
  
  
• DEALER PLAN CODE
  The dealer plan code for the asset is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch "Allow Dealer Reserve" is set to 'Y' from update U0212 - Portfolio.
  
  
• DEALER PROMO NUMBER
  The dealer promo number for the asset is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch "Allow Dealer Reserve" is set to 'Y' from update U0212 - Portfolio.
  
  
• DEALER PROG RATE
  The dealer program rate is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch "Allow Dealer Reserve" is set to 'Y' from update U0212 - Portfolio.
  
  
• DEALER BUY RATE
  The dealer buy rate is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch "Allow Dealer Reserve" is set to 'Y' from update U0212 - Portfolio.
  
  
• DEALER RES PAYABLE
  The total dealer reserve payable amount for asset is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch "Allow Dealer Reserve" is set to 'Y' from update U0212 - Portfolio.
  
  
• DEALER RES PAY TO
  The dealer reserve pay to dealer to who the dealer reserve will be paid is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch "Allow Dealer Reserve" is set to 'Y' from update U0212 - Portfolio.
  
  
• DEALER RES CB AMT
  The dealer reserve chargeback amount for the asset is displayed. This field will only appear if the Enhanced IDC/IDR module is purchased and the switch "Allow Dealer Reserve" is set to 'Y' from update U0212 - Portfolio.
  
  

 

Asset Detail: Use Tax

Field Descriptions

• USE TAX CODE
  The use tax payment method for the asset indicates which taxing entities are in effect for the asset, based upon the city and state/province address of the asset (e.g., state and county taxes, none exempt, etc.).

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

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

• CITY
  The city in which the asset is located (for use tax calculation purposes) is displayed. The city and state of the asset location determines the use tax that is calculated on the rental payment of 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: Sales and Use Tax

Field Descriptions

• TAX PAYMENT TYPE
  The tax payment type is displayed.

• USE TAX CODE
  The use tax payment method selected to calculate tax that which taxing entities are in effect for the asset, based on the location of the asset and status of the lessee (e.g., ALL, None Exempt).

• UPFRONT SALES TAX
  Y is displayed if upfront sales tax is due/was charged for an asset.

• BASE TAX AMOUNT
  If UPFRONT SALES TAX is Y, the amount upon which the upfront sales tax is based is displayed.

• UPFRONT SAL TAX
  The upfront sales tax amount is displayed.

• UPFRONT ADMIN ORIG
  If available, 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 t ax 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 cont of the destination of the upfront sales tax is displayed.

• DEST TAID
  The tax area ID of the destination of the upfront sales tax ID is displayed.

 

Supplemental Depreciation Fields

Field Descriptions

• SUPP DEPR START
  Supplemental depreciation date of an asset will be displayed.
  
  
• MONTHS TO DEPRECIATE
  Number of month to depreciate an asset will be displayed.
  
  
• SUPP DEPR BASIS
  Asset supplemental depreciation salvage value will be displayed.
  
  
• SUPP DEPR SALVAGE
  Supplemental depreciation date of an asset will be displayed.
  
  
• SUPP DEPR MTD
  Asset MTD supplemental depreciation value will be displayed.
  
  
• SUPP DEPR LTD
  Asset LTD supplemental depreciation value will be displayed.
  
  
• SUPP DEPR YTD
  Asset YTD supplemental depreciation value will be displayed.
  
  

 

Asset Detail: PAYOFF/SALES INFORMATION

Field Descriptions

• SHIP TO ADDRESS 1
  The first address line of the ship to of the upfront sales tax is displayed.

• SHIP TO ADDRESS 2
  The second address line of the ship to of upfront sales tax is displayed.

• SHIP TO CITY
  The city of the ship to of the upfront sales tax is displayed.

• SHIP TO STATE
  The state of the ship to of the upfront sales tax is displayed.

• SHIP TO ZIP
  The ZIP or postal code of the ship to upfront sales tax is displayed.

• SHIP TO COUNTY
  The county of the ship to of the upfront sales tax is displayed.

• SHIP TO TAID
  The tax area ID of the ship to of the upfront sales tax is displayed.

• SHIP FR ADDRESS 1
  The first address line of the ship from of the upfront sales tax is displayed.

• SHIP FR ADDRESS 2
  The second address line of the ship from of the upfront sales tax is displayed.

• SHIP FR CITY
  The city of the ship from of the upfront sales tax is displayed.

• SHIP FR STATE
  The state of the ship from of the upfront sales tax is displayed.

• SHIP FR ZIP
  The ZIP or postal code of the ship from of the upfront sales tax is displayed.

• SHIP FR COUNTY
  The County of the ship from of the upfront sales tax is displayed.

• SHIP FR TAID
  The tax area ID of the ship from of the upfront sales tax is displayed.

• PAYOFF/TERM METH
  The payoff/sale method is displayed.

• PF/SALE TAX AMT
  The payoff/sale method is displayed.

• PAYOFF TAX CODE
  The payoff tax code is displayed indicating that which taxing entities are in effect for the asset at time of sale (e.g., ALL, NONE Exempt).

 

Asset Detail: FHUT Information

Field Descriptions

• 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 asset, 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.

 

Asset Detail: Title Filing

Field Descriptions

• TITLE FILING - TYPE
  The type of the 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: Depreciation

Field Descriptions

• TAX RPTG
  YES is displayed if the asset will appear on the tax reports listed below.
  
  
  • Gain/Loss report [R0108]
  • Receipts Less Depreciation report [R0301]
  • Investment Tax Credit Detail report [R0302]
  • Investment Tax Credit Summary report [R0303]
  • Depreciation report [R0304]
    
    

  If YES is displayed here and the TAX TYPE is a true lease, the asset appears on the Tax Timing Differences report [R0311] regardless of whether the Contract Type code is set to CSA or INSL when the asset is booked on a lease.

• TAX RATE
  The corporate tax rate at the time the asset was booked onto the lease is displayed.
  
  
• TAX TYPE
  The TAX TYPE code for the asset is displayed. This code indicates the type of tax reporting for the asset. If the TAX RPTG switch displays NO, this field is informational only. TAX TYPE codes are:
  
  • SALE CSA tax type reporting
  • TLA True lease tax reporting (accrual basis)
  • TLC True lease tax reporting (cash basis)
    
    
• MANF DEPR BASIS
  The basis for the manufacturer's depreciation is displayed.
  
  
• ORG ASSET COST
  The original asset cost is displayed. This amount is used for the calculation of gross profit.
  
  
• GROSS PROFIT TYPE
  'RELATED' is displayed if the asset was sold to a related third party. 'UNRELATED' is displayed if the asset was sold to an unrelated third party.
  
  
• FED DEPR BASIS
  The basis for federal and alternative minimum tax depreciation is displayed.
  
  
• STATE SALVAGE VAL
  The amount that this asset may be depreciated down to for state depreciation purposes is displayed.
  
  
• BOOK ACCTG METHOD
  The depreciation accounting method for book purposes is displayed. The book accounting method may be changed in the Change Depreciation option [CD] of the Change Asset update [U0120]. Book accounting methods are:
  
  • FINANCE
    This method is for assets booked on a lease other than an operating lease. Monthly book depreciation is recorded at the asset level, but no General Ledger updating is performed.
    
  • OPERATING
    This method is used for assets booked on an operating lease. Monthly book depreciation is recorded at the asset level. In the General Ledger, the inventoried value of the asset is decreased and depreciation expense is increased by the depreciation amount.
    
    
• FEDERAL DEPR
  The type of federal depreciation for tax purposes used for the asset (e.g., ACRS, ADR, etc.) is displayed.
  
  
• FED DEPR MTD
  The dollar amount of federal depreciation calculated for the month is displayed.
  
  
• FED DEPR YTD
  The dollar amount of federal depreciation year-to-date is displayed.
  
  
• FED DEPR LTD
  The dollar amount of federal depreciation life-to-date is displayed.
  
  
• FED DEPR PREV YTD
  The dollar amount of the previous federal depreciation year-to-date is displayed.

  This field will not display previous YTD information until the first End of Year process is run. This field is new in release v5.0a.

• STATE DEPR
  The type of state depreciation for tax purposes used for the asset (e.g., ADR Straight Line, etc.) is displayed.
  
  
• ST DEPR MTD
  The dollar amount of state depreciation calculated for the month is displayed.
  
  
• ST DEPR YTD
  The dollar amount of state depreciation year-to-date is displayed.
  
  
• ST DEPR LTD
  The dollar amount of state depreciation life-to-date is displayed.
  
  
• ST DEPR PREV YTD
  The dollar amount of the previous state depreciation year-to-date is displayed.

This field will not display previous YTD information until the first End of Year process is run. This field is new in release v5.0a.

• ALT MIN TAX DEPR
  The Alternative Minimum Tax method used for the asset is displayed.
  
  
• ALT MIN DEPR YTD
  The amount of the Alternative Minimum Tax year-to-date is displayed.
  
  
• ALT MIN DEPR LTD
  The amount of the Alternative Minimum Tax life-to-date is displayed.
  
  
• AMT DEPR PREV YTD
  The dollar amount of the previous federal AMT depreciation year-to-date is displayed.

This field will not display previous YTD information until the first End of Year process is run. This field is new in release v5.0a.

• BOOK DEPR
  The type of book depreciation used for the asset (e.g., ADR Straight Line, etc.) is displayed.
  
  
• BOOK DEPR MTD
  The dollar amount of book depreciation calculated for the month is displayed.
  
  
• BOOK DEPR YTD
  The dollar amount of book depreciation year-to-date is displayed.
  
  
• BOOK DEPR LTD
  The dollar amount of book depreciation life-to-date is displayed.
  
  
• TOT BOOK DEPR LTD
  The total book depreciation life-to-date amount is displayed. The amount displayed is the total depreciation from the original depreciation up to the current date.

  This field works in conjunction with the Change Depreciation at Term field in Portfolio [U0212] and calculates the total book depreciation amount when the Book Depreciation method is changed during a Lease Extension or Auto Lease Extension [U0108].

• BOOK DEPR START
  The date from which book depreciation for the asset is calculated is displayed. This date may be changed in the Change Depreciation option of the Change Asset update [U0120].
  
  
• BOOK DEPR BASIS
  The book depreciation basis of the asset is displayed.
  
  
• BOOK SALVAGE
  The amount that this asset may be depreciated down to for book purposes is displayed.
  
  
• ITC CODE
  The Investment Tax Credit (ITC) method for tax purposes (e.g., Bypass, Full ITC 2% Year, etc.) is displayed.
  
  
• ITC (TAX) MTD
  The dollar amount of Investment Tax Credit taken for the month for tax purposes is displayed.
  
  
• ITC (TAX) YTD
  The dollar amount of Investment Tax Credit taken year-to-date for tax purposes is displayed.
  
  
• ITC (TAX) LTD
  The dollar amount of Investment Tax Credit taken life-to-date for tax purposes is displayed.
  
  
• ITC BASIS
  The acquisition cost of the asset is displayed. This is the value on which the amount of ITC to take is determined.
  
  
• ORIGINAL ITC
  The original Investment Tax Credit dollar amount for the asset is displayed.
  
  
• ITC SUSTAINED
  The amount of ITC sustained is displayed. This information is reported on the Investment Tax Credit Detail report [R0302].
  
  
• ITC BOOK ACCRUAL
  The method of ITC income recognition for book purposes is displayed.
  
  
• ITC ORG U/E
  The original amount of Investment Tax Credit income to be earned for book purposes is displayed.
  
  
• ITC REMAIN U/E
  The amount of current Investment Tax Credit income not yet earned for book purposes is displayed.
  
  
• ITC INCOME MTD
  The Investment Tax Credit book income earned for the most recently accrued month is displayed. The date shown for ITC ACCRUED TO is the end of the most recently accrued month.
  
  
• ITC INCOME YTD
  The year-to-date ITC income accrued is displayed.
  
  
• ITC ACCRUED TO
  The date to which ITC income has been accrued for the asset is displayed.
  
  
• DIMINISHING RATE
  The diminishing rate for DVA1/DVA2 federal or book depreciations is displayed.
  

• ADJ DEPR LIFE
  The adjustment to the book depreciable life of the asset, if applicable, is displayed.
  
  
• ORG BOOK BASIS
  The original book basis, prior to a depreciation basis adjustment, is displayed.
  
  
• ADJ TO BASIS
  The adjustment to the book depreciation basis, if applicable, is displayed.
  
  
• ORG DEPR LTD
  The original amount of book depreciation calculated life-to-date is displayed.
  
  
• ETC CODE
  The Energy Tax Credit (ETC) method for tax purposes (e.g., Bypass, Take 10%, etc.) is displayed.
  
  
• ETC MTD
  The dollar amount of the Energy Tax Credit taken for the month is displayed.
  
  
• ETC YTD
  The dollar amount of the Energy Tax Credit taken year-to-date is displayed.
  
  
• ETC LTD
  The dollar amount of the Energy Tax Credit taken life-to-date is displayed.
  
  
• ADD DEPR METHOD 1
  Additional Depreciation Fields users: The first additional depreciation method entered for the asset is displayed.
  
  
• ADD DEPR METHOD 2
  Additional Depreciation Fields users: The second depreciation method entered for the asset is displayed.
  
  
• ADD DEPR 1 MTD
  The first additional month-to-date depreciations method for the asset is displayed.
  
  
• ADD DEPR 2 MTD
  The second additional month-to-date depreciation method for the asset is displayed.
  
  
• ADD DEPR 1 YTD
  The first additional year -to-date depreciations method for the asset is displayed.
  
  
• ADD DEPR 2 YTD
  The second additional year-to-date depreciation method for the asset is displayed.
  
  
• ADD DEPR 1 LTD
  The first additional life-to-date depreciations method for the asset is displayed.
  
  
• ADD DEPR 2 LTD
  The second additional life-to-date depreciation method for the asset is displayed.

  Vehicle Finance users: the feature "Additional Depreciation Methods" is part of Vehicle Finance. The Alternate Book Accounting Methods are used when the asset is booked.



• Written to Loss
  Written to Loss amount will be displayed. This field only applies to operating leases. The Book salvage field of lease extension will be used to display this filed value. Written to Loss field will display the total amount of loss that has been taken from writing down the assets salvage value or net book value.

• Book Deferred
  Book deferred depreciation amount will be displayed. This field will only appear if a switch Prorate Depreciation from U0212 Portfolio→Miscellaneous Customizations is set to 'Y'.

 

 

Asset Detail: Payoff/Sale Information

Field Descriptions

• PAYOFF/SALE CODES
  The payoff/sale state, county, and city location codes are displayed.

• PAYOFF/SALE RATES
  The payoff/sale state, county, and city rates are displayed.

• PAYOFF/TERM METH
  The payoff/sale method is displayed.

• PF/SALE TAX AMT
  The payoff/sale taxable amount 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 a 'V').

• GAS COST
  The gas cost of the asset is displayed. This field is informational only and is shown only for assets with a vehicle classification (i.e., class code starts with a 'V').

• LICENSE FEES
  The license fees for the vehicle are displayed. This field is informational only and is shown only for assets with a vehicle classification (i.e., class code starts with a 'V').

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

• RESIDUAL INSUR
  'YES' is displayed if the asset has residual insurance. 'NO' is displayed if the asset does not have residual insurance. This field is informational only and is shown only for assets with a vehicle classification (i.e., class code starts with a 'V').

• WARRANTY INSUR
  'YES' is displayed if the asset has warranty insurance. 'NO' is displayed if the asset does not have warranty insurance. This field is informational only and is shown only for assets with a vehicle classification (i.e., class code starts with a 'V').

• CERT OF OWNERSHIP
  The certificate of ownership status is displayed. This field is informational only and is shown only for assets with a vehicle classification (i.e., class code starts with a 'V').

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

• ODOMETER COMMENCE
  The odometer reading of the vehicle at lease commencement is displayed. This field is informational only and is shown only for assets with a vehicle classification (i.e., class code starts with a 'V').

• ODOMETER TERM
  The odometer reading of the vehicle at lease termination is displayed. This field is informational only and is shown only for assets with a vehicle classification (i.e., class code starts with a 'V').

• LICENSE
  The license/tag number of the vehicle is displayed. Assets with a license/tag number are reported on the License Number report [R0910]. This field is shown only for assets with a vehicle classification (i.e., class code starts with a 'V').

 

Asset Detail: Automobile Options

Field Descriptions

• AUTO OPTIONS - LEASE COMMENCEMENT
  The possible vehicle options and the corresponding 'YES' or 'NO' switches associated with each option at lease commencement are listed. This information is shown only for assets with a vehicle classification (i.e., class code starts with a 'V').

• AUTO OPTIONS - CURRENT
  The possible vehicle options and the corresponding 'YES' or 'NO' switches currently associated with each option are listed. This information is shown only for assets with a vehicle classification (i.e., class code starts with a 'V').

 

Asset Detail: Condition Report

Field Descriptions

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

 

Asset Detail: User Defined Fields/Tables

Field Descriptions

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

Asset Payment Schedule

This section of the report shows the payment schedule for assets associated with an asset focus lease.

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., weekly, bi-weekly, semi-monthly, monthly, advance monthly, skip, quarterly, etc.) for every breakdown in the schedule.
  
  
• PAYMENT AMOUNT
  Shows the payable amount in each breakdown of the payment schedule.
  

For detailed description on scheduled payments, number, frequency, and amount for payment schedule are determined, refer to Payment Schedule overview document.

Notebook Report

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

 

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 action has already been taken on the note.
  
• TYPE
  The source of the note (e.g., leases) 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.

 

Automatic Lease Extension

The Automatic Lease Extension Information section provides lease extension information, if it has been entered, for a lease upon its maturity. The lease will be automatically extended in End of Period once the lease has reached status NMAT.

 

Field Descriptions

• COMMENCEMENT DATE
  The commencement date of the automatic lease extension record is displayed. The COMMENCEMENT DATE to the MATURITY DATE is equal to the LEASE TERM. The lease extension must commence on the lease's payment due day.
  
  
• MATURITY DATE
  The date the lease extension is scheduled to mature is displayed. The MATURITY DATE is calculated using the COMMENCEMENT DATE and the LEASE TERM.
  
  
• SYSTEM BOOKING
  The date and time the automatic lease extension was booked on the system are displayed.
  
  
• EXTENDED COST
  The new starting cost is the net investment in the lease (at lease maturity, the net investment is the residual) is displayed. For operating leases, the new starting cost is the current book value.
  
  
• TERM
  The extended term for the lease is displayed.
  
  
• RESIDUAL AMT
  The new residual (less than or equal to the original residual) is displayed.
  
  
• FIXED RATE
  The interest rate for a simple interest fixed rate lease is displayed.
  
  
• PAYMENT SCHEDULE - SCHEDULED PAYMENTS
  The starting and ending payment number for each payment schedule line are displayed.
  
  
• PAYMENT SCHEDULE - NUMBER
  The number of payments for each payment schedule line is displayed.
  
  
• PAYMENT SCHEDULE - FREQUENCY
  The frequency/type of the payments (e.g., weekly, bi-weekly, semi-monthly, monthly, advance monthly, skip, quarterly, etc.) for each payment schedule line is displayed.
  
  
• PAYMENT SCHEDULE - AMOUNT
  The payment amount (excluding use tax) for each payment schedule line is displayed.
  
  
• RECURRING CHARGES - NAME
  The name of each recurring charge is displayed.
  
  
• RECURRING CHARGES - TYPE (I/P/T)
  The type (I/P/T) of the recurring charge is displayed.
  
  
• RECURRING CHARGES - START DATE
  The starting date for each 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 each 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' (special tax 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 Portfolio update [U0212AS]. 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 number of the broker to whom each 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).
  
  
• RECURRING CHARGES - PAYABLE TO VENDOR
  The number of the vendor 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).

 

Closed Out Lease

When running the Lease Inquiry, the Closed Out Lease report is automatically produced if the lease is terminated or paid off and the detail information for the lease has been removed from the main data files. (The period of time to wait before the detailed information is removed is determined by the NUMBER OF DAYS TO WAIT BEFORE CLEANING UP LEASE RECORDS parameter on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212].)

Information for assets in inventory may be obtained by entering the asset number instead of the lease number when making the report selection. Assets are placed in inventory through the Termination option of the Payoff update [U0103].

Historical lease information is never automatically removed from the data files. The following information is the historical information which is retained for paid off or terminated leases.

 

Closed Out Lease Report

Field Descriptions

• PORTFOLIO
  
  
• COMPANY
  
  
• REGION
  
  
• OFFICE
  
  
• LESSEE
  The lessee number and name are displayed.
  
  
• VENDOR
  The vendor number and name are displayed.
  
  
• ASSET ACQUIS DATE
  
  
• CONTRACT DATE
  The date of the lease, as entered through the Book Lease option of the New Lease update [U0101], is displayed. Generally, the lease date is the date on which the lease documents were signed by the lessee.
  
  
• MATURITY DATE
  
  
• EFF DATE OF CLOSE
  The effective date of the payoff or termination is displayed.
  
  
• ACT DATE OF CLOSE
  The actual processing date and time of the payoff or termination is displayed.
  
  
• CLOSE TYPE
  The type of the transaction (PAYOFF or TERMINATION) is displayed.
  
  
• CLOSE METHOD
  The method of the base payoff calculation (e.g., net investment, net present value of remaining payments) is displayed. This information is entered through the Payoff update [U0103].
  
  
• ASSET ACT STATUS
  The date of the last asset activity status change is displayed. Since the last asset activity status change for this lease is the payoff or termination, this date represents the payoff/termination process date.
  
  
• LEASE DESCRIPTION
  The description of the lease is displayed.
  
  
• NEW/USED
  USED is displayed if the asset was purchased used or if it came off-lease into inventory (e.g., through the Termination option of the Payoff update [U0103]).
  
  
• OPERATOR
  The initials of the operator who processed the payoff or termination are displayed.
  
  
• CONTRACT TERM
  The term of the lease in months is displayed. The term is the number of months between the commencement date and the maturity date of the lease.
  
  
• # PMTS ACCRUED
  The number of payments accrued up through the effective date of the payoff or termination is displayed.
  
  
• # TIMES DELNQ 30
  The number of times the lease was one to 30 days delinquent is displayed. These counters increment during End of Day Sequential Updates [U0411] in the Late Charges Calculation and Assessment module, providing the lease has delinquent, unpaid invoices. The counters will not be updated if this module is not run at End of Day or if the Late Charge Method for the lease is NONE. The ending day is a customized value. Refer to the DELINQUENCY CATEGORY BOUNDARIES parameters on the third screen of the Miscellaneous Customizations option of the Portfolio update [U0212].
  
  
• # TIMES DELNQ 60
  The number of times the lease was 31 to 60 days delinquent is displayed.
  
  
• # TIMES DELNQ 90
  The number of times the lease was 61 to 90 days delinquent is displayed.
  
  
• # TIMES DELNQ 91+
  The number of times the lease was 91 or more days delinquent is displayed.
  
  
• LEASE ACT STATUS
  The lease activity status before the payoff or termination is displayed.
  
  
• LEASE RATING
  The rating of the lessee at payoff or termination is displayed. This information is entered through the Payoff update [U0103].
  
  
• PAYOFF SOURCE
  The source of the payoff funds is displayed. This information is entered through the Payoff update [U0103].
  
  
• TRANSACTION CODE
  The short and long form of the type of payoff or termination transaction is displayed. The transaction code also indicates if the payoff or termination was early or at lease maturity.
  
  
• MANUFACTURER
  The manufacturer of the asset (e.g., Ford, Chrysler) is displayed.
  
  
• MODEL
  The model of the asset (e.g., Mustang, Le Baron) is displayed.
  
  
• YEAR
  The model year of the asset is displayed.
  
  
• ACQUIS COST
  The invoice price of the asset(s) tied to the lease (before tax, charges or fees) is displayed. If multiple assets are tied to the lease, the sum of the original acquisition costs of all assets for the lease is displayed. The ORIGINAL ACQUISITION COST is the starting basis for depreciation.
  
  
• RESIDUAL AMT
  The total residual (guaranteed + unguaranteed) of the asset(s) tied to the lease is displayed. If multiple assets are tied to the lease, the sum of the residual values of all assets for the lease is displayed.
  
  
• PAYOFF TAX AMT
  The portion of the lease/asset payoff amount, or the asset sale/price on which sales/use tax was calculated is displayed. This amount could represent the total base payoff amount, the residual, the fair market value (FMV), or an amount entered by the user at the time of the payoff or sale.
  
  
• PAYOFF AMT DUE
  The total calculated payoff or termination amount due is displayed.
  
  
• PROCEEDS OF SALE
  The total amount received for the payoff or termination is displayed.
  
  
• GAIN/LOSS
  The recorded gain or loss on termination is displayed.
  
  
• ALLOWANC BAD DEBT
  The recorded reduction against bad debt for any payoff or termination shortage is displayed.
  
  
• NET RECEIPTS YTD
  The total dollar amount of the lease payments received year-to-date is displayed. Use tax is not included in this value.
  
  
• NET RECEIPTS LTD
  The total dollar amount of the lease payments received life-to-date is displayed. Use tax is not included in this value.
  
  
• OTHER INCOME YTD
  The total dollar amount of other income received year-to-date is displayed. Examples of other income include late charge income, termination/payoff fees, etc.
  
  
• OTHER INCOME LTD
  The total dollar amount of other income received life-to-date is displayed. Examples of other income include late charge income, termination/payoff fees, etc.
  
  
• SCHEDULE
  The starting and ending payment number for each payment schedule line is displayed.
  
  
• NUMBER
  The number of payments for each payment schedule line is displayed.
  
  
• FREQUENCY
  The frequency/type of the payments (e.g., weekly, bi-weekly, semi-monthly, monthly, advance monthly, skip, quarterly, etc.) for each payment schedule line is displayed.
  
  
• PAYMENT AMOUNT
  The payment amount (excluding use tax) for each payment schedule line is displayed.

 

LeasePak  Documentation Suite

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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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