U04 End of Period
U0429 Auto Payoff CSA NMAT Leases
| EOP Only | Yes |
| Frequency | Monthly |
| Sequential Updates | Yes |
| Skip Notes | No restrictions |
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.
U0429 Auto Payoff CSA NMAT Leases runs as part of EOP End of Month. It pays off all CSA type leases with any activity status between NMAT and NPMT when all of the balances, receivables, and assessments associated with that lease are at zero and the lease has reached the final accrued-to date. The process of EOP at the end of the month generates reports listing the leases' changed status.
For Auto payoff NMAT leases users should perform the following steps:
- Lease should be a CSA NMAT type of lease
- "AUTO PAYOFF CSA NMAT LEASE" switch Y/N must be set to 'Y' in U0212 EOP Customization
- "Automatic Payoff CSA NMAT Leases Y/N" switch must be set to 'Y' in U0212 Payoff Customizations
- Pay all remaining or pending invoices before processing EOM
- Run EOP End of Month
During EOM LeasePak will check all the matured (NMAT status leases) "CSA" type leases that do not have an IBL or Operating lease accrual method where all balances, receivables, and assessments associated with lease are zero and automatically pays them off and generates reports listing the leases' converted status. The following reports lists the leases having statuses changed to NMAT after EOM:
- R0404 Accounts Receivables Balancing
- R0407 Income Receivable Balancing (Lessor, residual, vendor, and investor)
- R0408 Accounts Payable Balancing (Account payable, Commission Fee/Security Deposit)
- R0609 Suspended Earnings
- R00901 Trial Balance (Unearned insurance premium, unearned notary fee, unearned lessor income, contract receivable, residual, unamortized IDC, and all other unearned income)
U0429 also produces its own audit and exception reports:
- p*_lpu0429b.rpt listing all paid off leases
- p*_lpu0429a.rpt containing exceptions of CSA leases that were not paid off
Where '*' is the portfolio number. These eports can be viewed by accessing user's home $eop directory.
Reference Guide |
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The information contained in this document is the sole property of NETSOL Technologies, Inc. Use of the information contained herein is restricted. Conditions of use are subject to change without notice. NETSOL Technologies, Inc. assumes no liability for any inaccuracy that may appear in this document nor does it have the obligation to update any of the information contained herein; the contents of this document do not constitute a promise or warranty. The software described in this document is furnished under license and may be used or copied only in accordance with the terms of said license. Unauthorized use, alteration, or reproduction of this document without the written consent of NETSOL Technologies, Inc. is prohibited.