Calculation Customizations
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U0212 Portfolio

U0212 Portfolio

Calculation Customizations

Overview symbol This is one of the topics under U0212 Portfolio.

Overview

The three customizable calculations--Gross Receivable Balance, Net Outstanding Balance, and Gross Outstanding Balance--have no predetermined function in LeasePak; that is, the user (or managing user) determines the meaning of these amounts and which general ledger components to use in calculating them. Since these calculations have no impact on LeasePak general ledger balancing, you may include or exclude components making up these calculations at any time.

LeasePak makes these three amounts available for use or display in the following updates and reports:

Net Outstanding Balance is also available in:

 

Component Amounts

The following table lists the general ledger amounts you can include in the customizations. Amounts in angle brackets (<>) subtract from the total, while amounts without angle brackets add to the total (in some cases, a component can carry a positive or negative balance, in which case a positive or negative amount will be add or subtracted according to standard mathematical rules). Lease Type(s) specify which types of leases/loans the components pertain to:

  • ALL - all types
  • IB - interest bearing loans
  • OP - operating leases
  • PC - precomputed leases
  • SI - simple interest leases
General Ledger Amounts for Calculation Customizations in Alphabetical Order
ComponentLease Type(s)Description
ASSESSMENT (ASSET FEES 1 – 10)ALL Assessed and unpaid asset-level fees. Theses amounts are added to the total for all types of leases.
ASSESSMENT (ASSUMPTION FEE)ALL Assessed and unpaid assumption fee. This amount is added to the total for all types of leases.
ASSESSMENT (COLLECTION FEE)ALL Assessed and unpaid collection fee. This amount is added to the total for all types of leases.
ASSESSMENT (DOWN PAYMENT)ALL Unpaid down payment. This amount is added to the total for all types of leases.
ASSESSMENT (FHUT)ALL Assessed and unpaid federal highway use tax. This amount is added to the total for all types of leases.
ASSESSMENT (IDR2 REG FEE)ALL Assessed and unpaid registration fee. This amount is added to the total for all types of leases.
ASSESSMENT (IDR4 OPEN COMM)ALL Assessed and unpaid opening commission. This amount is added to the total for all types of leases.
ASSESSMENT (INTERIM RENT)ALL Unpaid interim rent. This amount is added to the total for all types of leases.
ASSESSMENT (ITC FEE)ALL Assessed and unpaid investment tax credit fee. This amount is added to the total for all types of leases.
ASSESSMENT (LATE CHARGES)ALL Assessed and unpaid late charges. This amount is added to the total for all types of leases.
ASSESSMENT (LEASE EXTENSION)ALL Assessed and unpaid lease extension fee. This amount is added to the total for all types of leases.
ASSESSMENT (LEASE FEES 1 – 20)ALL Assessed and unpaid lease-level fees. Theses amounts are added to the total for all types of leases.
ASSESSMENT (LEASE REWRITE)ALL Assessed and unpaid lease rewrite fee. This amount is added to the total for all types of leases.
ASSESSMENT (LEGAL FEE)ALL Assessed and unpaid legal fee. This amount is added to the total for all types of leases.
ASSESSMENT (OTHER FEES)ALL Assessed and unpaid other fees. This amount is added to the total for all types of leases.
ASSESSMENT (PMT EXTENSION)ALL Assessed and unpaid payment extension fee. This amount is added to the total for all types of leases.
ASSESSMENT (PROPERTY TAX)ALL Assessed and unpaid property tax. This amount is added to the total for all types of leases.
ASSESSMENT (SECURITY DEPOSIT)ALL Unpaid security deposit to be held for the lease. This amount is added to the total for all types of leases.
ASSESSMENT (USE TAX)ALL Outstanding use tax receivable. This amount is added to the total for all types of leases.
ASSESSMENT (VENDOR RECEIVABLE)ALL Assessed and unpaid vendor receivable. It is only applicable if there is vendor participation in the lease and the vendor is participating in a percentage of the payments (not income). This amount is added to the total for all types of leases.
CONTRACT RECEIVABLEPC Total remaining lease payments to be accrued and billed. No residual, guaranteed or unguaranteed, is included in this component. This amount is added to the total for precomputed leases.
<DEFERRED EXTENSION INCOME>PC Amount of income that has not been earned, so it should be reduced from the lessor's exposure. This amount is subtracted from the total for all types of leases. This amount is added to the total for precomputed leases.
<DEFERRED OPLEASE REVENUE>OP Amount of the payment due in the next accrual period for an operating lease with payments due in advance.This amount is subtracted from the total for operating leases.
<DEFERRED RESIDUAL REDUCTION>PC Amount of residual that has not been reduced yet, to add this amount would overstate the lessor's exposure. This amount is subtracted from the total for precomputed leases.
<INVESTOR PARTICIP UNEARNED>PC Remaining investor portion of the rental income to be accrued. This amount is subtracted from the total for precomputed interest type leases.
ITC RECAPTUREALL Amount of Investment Tax Credit (after-tax value) to be recaptured if the lease were paid off today. This amount is added to the total for all types of leases.
LEASE INCOME RECEIVABLEPC, SI, IB Rental income accrued (but not yet due) for lessor, vendor, investor, and residual income components. The amount is non-zero only for leases with other than monthly payment schedules. This amount is added to the total for precomputed, simple and interest bearing types of leases.
<OPLEASE ACCUMULATED DEPREC>OP Accumulated book depreciation of the operating lease. If this component is selected, the OPLEASE BOOK VALUE component should not also be selected (these elements are mutually exclusive). This amount is subtracted from the total for operating leases.
OPLEASE ASSET VALUEOP Original asset cost of the operating lease. If this component is selected, the OPLEASE BOOK VALUE component should not also be selected (these elements are mutually exclusive). This amount is added to the total for operating leases.
OPLEASE BOOK VALUEOP Current book value of the operating lease. If this component is selected, the OPLEASE ASSET VALUE and the OPLEASE ACCUMULATED DEPREC components should not also be selected (these elements are mutually exclusive).
OPLEASE INCOME (UNBILLED)OP Amount of the difference between payments accrued and income recognized for an operating lease using the straight line income accrual method. This amount is added to the total for operating leases.
OPLEASE RECEIV (UNBILLED)OP Amount of the payment due in the next accrual period for an operating lease with payments due in arrears.This amount is added to the total for operating leases.
PAYMENTS RECEIVABLEPC, OP, SI Total of outstanding lease payments accrued and receivable. This amount is added to the total for precomputed interest type leases, operating leases, and simple interest type leases whose interest portion is not billed separately (accrual methods PX and LT).
PAYMENTS RECEIV (INTEREST)SI, IB Total of outstanding interest accrued and receivable. This amount is added to the total for simple interest type leases whose interest portion is billed separately (simple interest accrual methods VT, VV, VL, as well as all interest bearing loan (IBL) accrual methods). Interest adjustment to all IBL methods (as a result of an interest adjustment transaction) will also be reflected in the calculation.
PAYMENTS RECEIV (PRINCIPAL)SI, IB Total of outstanding principal accrued and receivable. This amount is added to the total for simple interest type leases whose interest portion is billed separately (simple interest accrual methods VT, VV, VL, as well as all interest bearing loan (IBL) accrual methods). Principal adjustment to 'P&I' IBL methods (as a result of an interest adjustment transaction) will also be reflected in the calculation.
PRINCIPAL OUTSTANDINGSI, IB Unaccrued principal balance. This amount is added to the total for all simple interest, and interest bearing type leases.
PRINCIPAL RECEIVABLESI Principal unpaid for simple interest accrual type LT. This amount may be positive or negative. A positive amount indicates a receivable to the lessor (resulting from a net increase in the interest rates for floating rate leases); a negative balance indicates a payable (resulting from a net decrease in the interest rates for floating rate leases). This amount is added to the total for LT simple interest type leases (addition can be positive or negative as previously described).
RECURRING CHARGE (1-35)ALL Assessed and unpaid recurring charge amount. This amount is added to the total for all types of leases. LeasePak's Base System includes three recurring charges. With the Enhanced Recurring Charges module, up to 15 recurring charges are available. Customize recurring charges in Portfolio [U0212]: Assessment Customizations
RESIDUALPC, SI Entire residual value (guaranteed + unguaranteed) of the lease. If this component is selected, the RESIDUAL (GUARANTEED) and RESIDUAL (UNGUARANTEED) components should not also be selected (these elements are mutually exclusive). This amount is added to the total for precomputed and simple interest types of leases.
RESIDUAL (GUARANTEED)PC, SI Guaranteed portion of the residual value. If this component is selected, the RESIDUAL component should not also be selected (these elements are mutually exclusive). This amount is added to the total for precomputed and simple interest types of leases.
<RESIDUAL UNEARNED>PC Unearned portion of the residual value. This amount is subtracted from the total for precomputed interest type leases.
RESIDUAL (UNGUARANTEED)PC, SI Unguaranteed portion of the residual value. If this component is selected, the RESIDUAL component should not also be selected (these elements are mutually exclusive). This amount is added to the total for precomputed and simple interest types of leases.
<SECURITY DEPOSIT>ALL Amount of refundable security deposit held or to be held for the lease (i.e., whether received or not). This amount is subtracted from the total for all types of leases.
SUSPENDED IDC ACCRUEDALL Amount of IDC on a lease in a suspended status. This amount is added to the total for all types of leases.
<SUSPENDED INCOME ACCRUED>ALL Amount of income that may not be earned even though unearned income was reduced by this amount. This amount is subtracted from the total for all types of leases.
SUSPENDED INTERESTALL Amount that may not be collected even though contract receivable has been reduced by this amount This amount is added to the total for all types of leases.
SUSPENDED PRINCIPALALL Amount that may not be collected even though contract receivable has been reduced by this amount This amount is added to the total for all types of leases.
SUSP IDC1 INS PREMALL Amount of insurance premium on a lease in a suspended status. This amount is added to the total for all types of leases.
SUSP IDC2 NOTARY FEEALL Amount of notary fee on a lease in a suspended status. This amount is added to the total for all types of leases.
<SUSP IDR1 INS FEE>ALL Amount of insurance fee that may not be collected. This amount is subtracted from the total for all types of leases.
<SUSP IDR2 REG FEE>ALL Amount of registration fee that may not be collected. This amount is subtracted from the total for all types of leases.
<SUSP IDR3 VEN SUBSIDY>ALL Amount of vendor subsidy that may not be collected. This amount is subtracted from the total for all types of leases.
<SUSP IDR4 OPEN COMM>ALL Amount of opening commission that may not be collected. This amount is subtracted from the total for all types of leases.
SUSP INCOME RECEIV (UNBILLED)ALL Amount of suspended income accrued increased even though unearned income has not been reduced by this amount. This amount is added to the total for all types of leases.
UNAMORT IDC1 INS PREMALL Portion of insurance premium expense which has not yet been amortized. This amount is added to the total for all types of leases.
UNAMORT IDC2 NOTARY FEEALL Portion of notary fee expense which has not yet been amortized. This amount is added to the total for all types of leases.
<UNAMORT IDR1 INS FEE>ALL Unrecognized income from insurance fees. This amount is subtracted from the total for all types of leases.
<UNAMORT IDR2 REG FEE>ALL Unrecognized income from registration fees. This amount is subtracted from the total for all types of leases.
<UNAMORT IDR3 VEN SUBSIDY>ALL Unrecognized income from vendor subsidies. This amount is subtracted from the total for all types of leases.
<UNAMORT IDR4 OPEN COMM>ALL Unrecognized opening commission income. This amount is subtracted from the total for all types of leases.
UNAMORTIZED IDCALL Portion of initial direct cost expense which has not yet been amortized (under Statement 91 of the Financial Accounting Standards Board).
<UNEARNED INCOME>PC Unrecognized rental income (income remaining to be accrued) for the lease, exclusive of vendor or investor unearned income. This amount is subtracted from the total for precomputed interest type leases.
VALUATION RESERVEALL Amount of valuation reserve specified for the lease (if any). This amount is added to the total for all types of leases.
<VENDOR PARTICIP UNEARNED>PC Remaining vendor portion of the rental income to be accrued. This amount is subtracted from the total for precomputed interest type leases.
VENDOR RECEIVABLEPC Remaining vendor portion of the lease payments to be accrued and billed. It is only applicable if there is vendor participation in the lease and the vendor is participating in a percentage of the payments (not income). This amount is added to the total for precomputed interest type leases.

 

Setup Screen

Use this screen to include or exclude components from the custom calculations. Since these calculations have no impact on LeasePak general ledger balancing, you may include or exclude components at any time.

Field Descriptions

Field bullet Description
Displays the name of the component.

LeasePak displays the default name. Use Portfolio [U0212]: Assessment Customizations (for users with the Name Assessments module) and Office G/L Change [U0716] (for all users) to see the LeasePak default and customized account names side by side.
Field bullet Lease Type(s)
Specifies the lease type(s) that the component pertains to. Some components pertain to all lease types, while others pertain to only some or even just one. The values are:

  • ALL - pertains to all types


  • IB - interest bearing loans. Includes all interest bearing loan (IBL) accrual methods (AX, AF, IX, IF). Interest bearing loans provide actual daily balance outstanding interest calculations under both fixed and floating rate methods. These methods differ from other LeasePak simple interest accrual methods in that adjustments to earned interest are made due to early or late receipt of payment.


  • OP - operating leases. Includes straight-line (SL), variable (OV), and payments (PM) operating lease accrual methods.


  • PC - precomputed leases. Includes level or constant yield (FASB method), rule of 12/78ths, rule of 12/78ths half month convention, straight line, and residual accrual methods. With precomputed accrual methods, an amortization schedule of income to be earned each month can always be calculated at the start of the lease.

    As a special case, the simple interest methods VV and VL are also included in this category because an estimated contract receivable and unearned income amount is calculated for these simple interest types.

  • SI - simple interest leases. Includes precomputed simple (PX) and the simple interest floating rate methods LT and VT.

    As a special case, simple interest methods VV and VL methods are excluded from this category because an estimated contract receivable and unearned income amount is calculated for these simple interest types.
Field bullet Gross Receivable Balance
Check the box to include the component in the calculation for Gross Receivable Balance, or uncheck (clear) the box to exclude it. Each component adds or subtracts its amount according to its nature. Refer to the above section, Component Amounts for more information.
Field bullet Net Outstanding Balance
Check the box to include the component in the calculation for Net Outstanding Balance, or uncheck (clear) the box to exclude it. Each component adds or subtracts its amount according to its nature. Refer to the above section, Component Amounts for more information.
Field bullet Gross Outstanding Balance
Check the box to include the component in the calculation for Gross Outstanding Balance, or uncheck (clear) the box to exclude it. Each component adds or subtracts its amount according to its nature. Refer to the above section, Component Amounts for more information.

 

After completing the customizations, click OK to save or Cancel to exit the update without making any changes.