U0212 Portfolio

Modules Customizations

• Module Settings
• Automatic Suspense/Payoff, Payment Reversals
• Vertex O Series

Module Settings

This screen is used to establish or change parameters associated with the Loan Accounting, Lease Discounting, Property Tax Description, PAP/Preauthorize Pmts and Lease Extensions modules.

These are optional modules that may be purchased separately and added on to the LeasePak base system. This screen appears only if one or more of the optional modules is purchased.

Field Descriptions

• TARGET PRINCIPAL BALANCES USED (Y/N)
  If the Loan Accounting module is used, enter Y if target principal balances should be established for interest bearing loans. Otherwise, enter N. Target principal balances are used by the Cycle Accrual update to compare the net outstanding balance (after the accrual) with a target principal level. If the net outstanding balance is greater than the target principal level, a message is written to the Accrual Message report [U0301D].
  
  This field is accessible only if the Loan Accounting module has been purchased.

• LEASE DISCOUNTING USED (Y/N)
  Enter Y if the Lease Discounting module is used for this portfolio; otherwise, enter N.

Bowfront VAT is not compatible with Lease Discounting. If the UPFRONT TAX switch is Y on the New Lease screen of [U0212], the LEASE DISCOUNTING USED switch must be N.

If Lease Discounting is used, then leases associated with the portfolio will not be allowed in the Suspended Earnings [U0115] option. If leases in the portfolio are suspended, LeasePak will not allow the switch to be set to Y. All General Ledger names associated with suspended transactions should be modified to names more suitable for Lease Discounting through Office G/L Change update [U0716]. The following is a list of general ledger names for suspended transactions and suggested names for lease discounting:

This field is accessible only if the Lease Discounting module has been purchased.

• INVESTOR REQUIRED FOR LEASE DISCOUNTING (Y/N)
  Enter Y if INVESTOR is an input-required field in the Lease Discounting module for this portfolio; otherwise, enter N.
  
  This field is accessible only if the Lease Discounting module has been purchased and lease discounting is used in the portfolio.

• NET COST CALC METHOD (A/C)
  The Net Cost of the discounted lease may be calculated in two ways. If an A is entered the formula is as follows: Original Acq Cost - Down Pymt - Earned Income. When this switch is set to C, the calculation will be: Contract Rec - Unearned Income. See the Lease Discounting update [U0123] for more information on this calculation.
  
  This field is accessible only if the Lease Discounting module has been purchased and lease discounting is used in the portfolio.

• PROPERTY TAX DESCRIPTION CODE (Y/N)
  Enter Y if the Property Tax Description code is used for this portfolio; otherwise, enter N.
  
  This field is accessible only if Property Tax Description module has been purchased.

• ESTIMATED PROPERTY TAX DESCRIPTION CODE (Y/N)
  Enter Y if the Estimated Property Tax Description code is used for this portfolio; otherwise, enter N. This custom code is set up to track estimated property tax in the same manner as the actual property tax.
  
  This custom code is renamed from the Federal Highway Use Tax (FHUT) assessment code. If the estimated property tax description code is used, FHUT will not be used.
  
  This field is accessible only if Property Tax Description module has been purchased.

• ACH PRENOTE USED
  Enter Y if the PAP/Preauthorize Pmts module is purchased and Prenotifications are used. Otherwise, enter N.

• PRENOTE CCD
  In the U.S. PAP/ACH payments are coded CCD, as opposed to PPD. Enter Y if Prenotifications should be used to CCD Standard Entry Class Code. Otherwise, enter N.

• LEASE EXTENSION INCOME BASIS (A/C)
  Enter A for Accrual or C for Cash. This value will be used as the default on Lease Extension [U0108]. It may be overridden for an individual lease, if desired.
  
  With the A-accrual option, as lease payments are billed and accrued after the lease has been extended, unguaranteed residual is reduced to zero, then residual income is recognized.
  
  When this field is set to A, LeasePak will allow Lease Extensions [U0108], on leases with the OPR methods, to recognize income on a cash basis. When the OPR is entered in the Extension Method field.
  
  With the cash option, residual reduction and residual income are not recognized until cash has actually been received and applied to an open invoice.
  
  
  
  

Automatic Suspense/Payoff, Payment Reversals

This screen will appear when the Cash Control and Multiple Bank modules are purchased.This screen is used to establish or change parameters associated with the Cash Control module for Payments and the Batch Number Payment Reversals update, as well as the Cash Control Payment History [R0926] report.

The Custom Codes update [U0722] will require Reversal by Reason Codes to begin with N,S, T, U, or O.

Field Descriptions

• DEFAULT C/R/O FOR AUTOMATIC SUSPENSE
  Enter the Company, Region, Office for automatic suspense. Use Help to display a list of C/R/O's. This field is input required.

• DEFAULT BANK FOR AUTOMATIC SUSPENSE
  Enter the default bank code for automatic suspense. Use Help to display a list of valid bank codes. This field is input required.

• BANK FOR AUTOMATIC SECURITY DEPOSIT SUSPENSE DISBURSAL
  Specify the bank number (G/L account number) that the Auto Security Deposit Suspense Disbursal [U0436] update (End of Period, End of Day) will use to disburse security deposit suspense items that meet the requirements for disbursal. Refer to one of the following documents for more information:
  • Payments [U0102]: Batch Number Payment Reversal
  • Payoff [U0103]: Payoff, Payoff Reversal
  • Payoff [U0103]: Termination, Termination Reversal
  • Security Deposit Disbursal [U0408], part of End of Period [U04]: Daily Updates

• AUTOMATIC PAYOFF LOSS TOLERANCE
  Enter the payoff loss tolerance amount for the P/C/R/O.

• AUTOMATIC PAYOFF GAIN TOLERANCE
  Enter the payoff gain tolerance for the P/C/R/O.

• REVERSAL CATEGORY
  This column is displays the reversal categories for payment reversals. This field is view only.

• DESCRIPTION
  This column displays the description for the reversal categories. These are view only.

• BANK CODE
  Enter the bank code that applies to each reversal category. Use HELP for a list of valid Bank Codes. This is a required field.

• DISPLAY IN R0926 Y/N
  Enter 'Y' to view each reversal category in the Cash Control Payment History [R0926] report. This will allow the user to view any reversal categories associated with the lease, as well as provide a trace reference code.
  
  When 'N' is selected, LeasePak will hide payment and payment reversal transactions on the Cash Control Payment History report.

Vertex O Series

Vertex O Series: This screen and the fields on it apply to Vertex O Series users only.

• Use Vertex O (Y/N)
  Select this option to indicate that the selected portfolio allows the use of Vertex O to calculate sales and use tax. If it is set to, N than, all leases in the selected portfolio will use the standard LeasePak tax calculations with the rates stored in LeasePak database RLO Location table.
  
  

Before setting switch, “Use Vertex O (Y/N)” to Y users must first select U0712 Custom General Vertex O switch to Y to enable U0212 Portfolio settings.

Users cannot change switch “Use Vertex O (Y/N)” from Y to N if any leases attached to the current portfolio are Vertex O leases or if the EOP modules Vertex O Disbursal and Vertex O Journal are turned on.