U04 End of Period

U0425 Preauthorized Payments

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.

Interactive: This functionality is also available in the interactive update U0304 Preauthorized Payments.

This module is used to generate preauthorized payment records which allow lease payments billed to a lessee to be automatically deducted from the lessee's chosen bank account.

The lessor selects a clearing bank to process the payments. The payment file is created in a form acceptable to the clearing bank and submitted one or more days prior to the due date of the payment. This is accomplished through interactive U0304 Preauthorized Payments or through this EOP module, U0425 Preauthorized Payments.

For more information, refer to documentation for interactive U0304 Preauthorized Payments.