U04 End of Period

U0420 Auto Apply Suspense for IBL

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

Sequential Updates: This EOP module runs as part of U0411 Sequential Updates.

Cash Control: This End of Period update is part of the Cash Control module.

The Auto Apply Suspense for IBLs update displays all pertinent information when the AUTO APPLY SUSPENSE switch is set to 'Y' for interest bearing loans. When this EOP module is selected from the MODULES AND REPORTS screen in the End of Period Customizations of U0212 Portfolio, LeasePak will apply the suspense item to any outstanding invoices for IBLs with the Payment Effective Date. Additionally, LeasePak will also apply suspense created though U0102 Payments, U0109 Suspense, and U0126 Cash Control to outstanding invoices for interest bearing loans. LeasePak will collect and hold advance payments in Suspense for Interest Bearing Loans, the advanced payment will be applied to the next outstanding invoice. The Effective Date of the advanced money received will also be tracked. LeasePak will use all the available Suspense amounts including those created in EOP U0415 Batch Payments and interactive U0305 Batch Payments to apply to any outstanding invoices for that lease through End of Period.

Payment Application to IBL with Open Suspense Item

If an IBL has an existing suspense item, an incoming payment will not be applied interest or principal, but will create a new suspense item tied to the IBL. Amounts from suspense items must be applied or cleared before normal payment application resumes. Auto Apply Suspense now sorts suspense items by effective date and applies each of the suspense items by oldest effective date first. If LeasePak is unable to apply a suspense item, it generates an exception message to the Auto Apply Suspense for U0420A IBL Exceptions Report and stops applying suspense items, so that only the first failed suspense application will show an exception message.

If there are any recurring charges on IBL and the suspense is added via U0109 Suspense, then LeasePak maintains the general ledger entry while executing EOP by checking for the RCR setup for cash or accrual basis accounting.

U0420A Exceptions Report

• LEASE
  The lease number is displayed.

• SUSPENSE NUMBER
  The suspense number that is tied to the lease is displayed.

• INVOICE
  The invoice to which the suspense item was applied is displayed.

• TYPE
  The message type is displayed.

• MESSAGE
  The suspense item process message is displayed

• AMOUNT APPLIED
  The total suspense amount applied to the invoice is displayed.

• SUSPENSE AMOUNT
  The remaining suspense amount is displayed, if any.

U0420B Audit Report

• LEASE
  The lease number is displayed.

• SUSPENSE NUMBER
  The suspense number that is tied to the lease is displayed.

• INVOICE NUMBER
  The invoice number to which the suspense amount was applied to is displayed.

• PAYMENT DUE DATE
  The payment due date is displayed.

• EFFECTIVE DATE
  The effective date of the suspense item is displayed.

• CHECK NUMBER
  The check number entered for the suspense item is displayed.

• PAYMENT
  The total payment amount is displayed.

• OTHER
  Any other amounts applied to the lease are displayed.

• TYPE OF OTHER
  The other payment type is displayed.
  
  
• TOTAL
  The total amount applied to the lease is displayed.
  
  
• NEW SUSPENSE AMOUNT
  The remaining suspense amount is displayed, if any.