U04 End of Period

U0427 Batch Payoff

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

Interactive: This functionality is also available in the interactive update U0129 Batch Payoff.

Cash Control, Interest Bearing Loan (IBL): This EOP update works in conjunction with the optional Cash Control and Interest Bearing Loan license modules.

B Method IBL users: You cannot use this update with B Method IBLs.

U0427 Batch Payoff is the End of Period version of the interactive update. Refer to U0129 Batch Payoff for more information.

Running the Batch Payoff through EOP will check:

• If the program encounters two Batch Payoff Detail records for a single lease, the most recent one will fail.
• If the user does not run the Batch Payoff during a particular EOP, and in the meantime a batch payment transaction reverses a suspense item that corresponds to a rpx Batch Payoff Detail record, that batch payoff detail record will fail with the following error: "Suspense item has been cleared"

Batch Payments users: To process an 'RAX*' IBL payoff transaction, the program will use the suspense item tied to the rpx Batch Payoff Detail record created by the U0415 Batch Payments program due to an exception occurred while processing the specified IBL. After completing the payoff transaction successfully, it will clear the suspense record.

Batch Payoff will not process existing IBL batch payment exceptions that have already resulted in suspense items.

Vertex O users: U0427 Batch Payoffs supports processing IBLs with RAXx accrual method having taxable Vertex O assets to be paid off. The taxable Vertex O assets portfolio switch "Allow Taxable Asset on IBL" from U0212 New Lease Customization must be set to 'Y'.

U0427A Batch Payoff Exceptions

This report displays the Batch Payoff Exceptions and Audits of Payoffs posted for leases with RAX* type accrual methods via U0129 Batch Payoff.

This report displays any Batch Payoff exceptions that might exist after End of Period was run. Failed edit checks will not process payoffs for that record and an error message would be displayed. LeasePak will create a Suspense item for the check amount if any of the following fields are not valid.

• BATCH
  The batch number is displayed.

• LEASE
  The lease number is displayed.

• TYPE
  The message type is displayed.
  
  
• MESSAGE
  The exception message is displayed if an error has occurred in the batch payoff process.

• SUSPENSE NUMBER
  The suspense number is displayed when an error has occurred in the Batch Payoff.

• SUSPENSE AMOUNT
  The suspense amount is displayed when an error has occurred in the Batch Payoff process.

Exception Messages

Exception messages are printed to the Exceptions report. Possible Batch Payoff exception messages are as follows:

• 1994 JULE FUND NOT PURCHASED.
• AMOUNT TO APPLY IS LESS THAN ZERO.
• BATCH PAYOFF NOT ALLOWED FOR 'ABPT' LEASES.
• BATCH PAYOFF CANNOT PROCESS LEASE WITH MORE THAN 100 RECORDS
• BATCH PAYOFF PORTFOLIO AUTO-SUSPENSE FIELDS BLANK. NO SUSPENSE ITEM.
  
• BATCH IS NOT VALIDATED.
• BATCH PAYOFF BATCH DETAIL LOCKED. SUSPENSE ITEM CREATED FOR CHECK #.
• BATCH PAYOFF NOT ALLOWED FOR PAID OFF LEASES.
• BATCH PAYOFF NOT ALLOWED FOR IBL BEHAVIOR B
• BATCH PAYOFF MODULE NOT PURCHASED
• BATCH JOB RECOVERY MANY NOT HAVE BEEN PROCESSED
• INTEREST ONLY LOANS NOT SUPPORTED.
• INVALID AMOUNT TO APPLY.
• INVALID CASH ACCOUNT NUMBER.
• INVALID DATE FORMAT.
• INVALID INPUT.
• LEASE NUMBER WAS NOT FOUND.
• LEASE IS ON A DIFFERENT PORTFOLIO.
• LEASE RECORD IS LOCKED.
• MULTIPLE BANKS MODULE IS NOT PURCHASED.
• PORTFOLIO IS LOCKED.
• PORTFOLIO MUST BE RECOVERED THRU INTERACTIVE BATCH PAYOFFS.
• TOO MANY DATA ITEMS.
• UNEXPECTED DATA ITEM ENCOUNTERED.
  

U0427B Batch Payoff Audit

This report will display all the Batch Payoffs that have been applied for that End of Period. If all the edit checks have been met for the batches entered.

• BATCH
  The batch number is displayed.

• LEASE
  The lease number is displayed.

• EFFECTIVE DATE
  The message type is displayed.
  
  
• CHECK NUMBER
  The exception message is displayed if an error has occurred in the batch payoff process.

• CHECK REFUND
  The suspense number is displayed when an error has occurred in the Batch Payoff.

• PAYOFF AMOUNT
  The payoff amount for the amount received, the refund and the gain/loss is displayed for the payoff.
  
  
• ASSESSMENTS
  The assessments amount for adjustments and the description is displayed.
  
  
• APPLIED PORTFOLIO TOTAL
  The total amount applied to the portfolio is displayed.