New
Lease [U0101]: Reverse Check
This update is part of the New Lease [U0101]
group of updates. For an introduction to New Lease and links to all the New Lease documents, refer to
New Lease [U0101].
Reverse Check is an option of the New Lease update, which can be accessed through the main LeasePak Updates menu, New Lease option, or by entering U0101 into Fast Menu <F2>.
This option is used to reverse a previous check disbursal.
This screen is used to specify which check will be reversed.
- INTERNAL
CHECK NUMBER
Enter the LeasePak assigned internal check number. If the check has already been printed or voided, an error message will be displayed. Checks that have been printed may be reversed by entering the bank check number into the BANK CHECK NUMBER FIELD.
- BANK CHECK
NUMBER
Enter the user-assigned bank check number.
This screen is used to verify that the proper check has been chosen.
- LEASE NUMBER
The lease number will be displayed if it's available.
- CUSTOMER
NUMBER
The customer number will be displayed if it's available.
- ASSET
NUMBER
The asset number will be displayed if it's available. If on screen 1 a Bank Check Number rather than an Internal Check Number was entered, the Asset number will say VARIOUS, because various banks may use the same number; LeasePak cannot link a bank's number to a unique asset.
- VENDOR
NUMBER
The vendor number will be displayed if it's available. If a Bank Check Number was entered, the word VARIOUS will be displayed in this field.
- BROKER
NUMBER
The broker number will be displayed if it's available.
- TYPE
OF DISBURSEMENT
The type of disbursement will be displayed.
- DISBURSAL
ACCOUNT
If the Multiple Banks module is purchased, the bank account used in the disbursal will be displayed.
- CHECK
AMOUNT
The amount of the check will be displayed.
- DISBURSEMENT
DATE
The date of the disbursement will be displayed.
- REFERENCE
The check reference will be displayed. If a Bank Check Number was entered, the word VARIOUS will be displayed in this field.
- PAYEE
NAME
The name of the payee will be displayed.
- ADDRESS
The payee's address will be displayed.
- CITY
The payee's city will be displayed.
- STATE
The payee's state or province will be displayed.
- ZIP
The payee's ZIP code or postal code will be displayed.
- IS
THIS THE CORRECT CHECK TO REVERSE?
Enter Y or N.
U0101 reverse check also reverse a dealer bonus disbursement. LeasePak will only reverse a check if the asset is on lease. Off lease assets will not be able to reverse. LeasePak does not support reversal to all the assets in inventory or assets that have been sold. If the dealer bonus check has been printed previously than updated voided record stores to rdh dealer Transaction History. If the check is not printed, LeasePak will not write any record to rdh Dealer Transaction History for reversal because it was never written there as paid. The RDH Columns will be set as follows:
| RDH Column Name | Description | Value |
| d_dis_s | Disbursement date | rck.d_dls_s |
| por_s | Portfolio | rck.por_s |
| dlr_s | Vendor | rck.dck_seg3_s |
| lse_s | Lease | rck.lse_pcro_s |
| d_run_s | Run date | rck.d_run_s |
| t_run_s | Run time | rck.t_run_s |
| tran_s | Transaction type | rck.cash_check_typ_s |
| trn_rsn_s | Transaction reason code | "VDID" |
| t_dis_s | Disbursement time | rck.t_dis_s |
| d_printed_s | Date cashier's check was printed | rck.d_printed_s |
| t_printed_s | Time cashier's check was printed | rck.t_printed_s |
| d_rev_s | Reversal date | rck.d_dis_s |
| chk_s | Check number | rck.chk_s |
| tx_d | Transaction amount | rck.amt_d |
General Ledger
LeasePak also produces the general ledger transactions for the records sorted in the leasepak database table RDH (dealer transaction history).
LeasePak produce the following GL transaction if the assets are tied to a pre-computed lease:
| General Ledger Account | Amount |
| DR CASH 126 – DEAFULT DISBURSAL | Reverse Payable Amount |
| CR IDC6 – D/L DEALER BONUS PAYABLE |
LeasePak produce the following GL transaction if the assets are tied to a pre-computed lease:
| General Ledger Account | Amount |
| DR CASH 126 – DEAFULT DISBURSAL | Reverse Payable Amount |
| CR IDC6 – O/L DEALER BONUS PAYABLE |
LeasePak produce the following GL transaction if the assets are tied to a pre-computed lease:
| General Ledger Account | Amount |
| DR CASH 126 – DEAFULT DISBURSAL | Reverse Payable Amount |
| CR IDC6 – DEALER BONUS PAYABLE |
The U0101 Reverse Check update reverses a dealer reserves disbursement. LeasePak reserves checks if the asset is on lease. LeasePak does not support reserve checks for assets in inventory or assets that
have been sold. If the dealer reserve check has already been printed than the updated voided record of rck.s_status_s will also be written to Dealer Transaction History table. If the check is not printed
leasepak will not write any of the record to (rdh) Dealer Transaction History for reversal. LeasePal will not write the record in history table because the record was not written there previously as paid.
LeasePak sets the columns of the RDH table as follows:
| RDH Column Name | Description | Value |
| d_dis_s | Disbursement date | Rck.d_dis_s |
| por_s | Portfolio | Rck.por_s |
| dlr_s | Vendor | Rck.dck_seg3_s |
| lse_s | Lease | Rck.lse_pcro_s |
| d_run_s | Run date | Rck.d_run_s |
| t_run_s | Run time | Rck.t_run_s |
| tran_s | Transaction type | Rck.cash_check_typ_s |
| trn_rsn_s | Translation reason code | "VOID" |
| t_dis_s | Disbursement time | Rck.t_dis_s |
| d_printed_s | Date cashier's check was printed | Rck.d_printed_s |
| t_printed_s | Time cashier's check was printed | Rck.t_printed_s |
| d_rev_s | Reversal date | Rck.d_dis_s |
| chk_s | Check number | Rck.chk_s |
| tx_d | Transaction amount | Rck.amt_d |
| unit_s | Asset | Rck.unit_s |
| rev_trn_rsn_s | Reversal transaction reason code | "MANL" |
The reversal transaction reason code is set to "MNAL" because this is a manual reversal and did not occur automatically because of the condition that was met to cause a chargeback.
LeasePak produces following general ledger entries to reverse dealer reserve disbursements.
Following are the general ledger entries if the assets are tied to a pre-computed lease:
| General Ledger Account | Amount |
| DR CASH 126 – DEFAULT DISBURSAL | REVERSE PAYABLE AMOUNT |
| CR IDC7 – D/L DEALER RESERVE PAYABLE |
LeasePak will produce the following GL's, if the assets are tied to an operating lease:
| General Ledger Account | Amount |
| DR CASH 126 – DEFAULT DISBURSAL | REVERSE PAYABLE AMOUNT |
| CR IDC7 – O/L DEALER RESERVE PAYABLE |
LeasePak will produce the following GL's, if the assets are tied to an interest bearing loan lease:
| General Ledger Account | Amount |
| DR CASH 126 – DEFAULT DISBURSAL | REVERSE PAYABLE AMOUNT |
| CR IDC7 – DEALER RESERVE PAYABLE |
Funding Tax
Disburse Check to a Vendor: The general ledger transaction produced in U0101 Disburse Check to record a tax transaction which will be claimed back as a refund at the end of the month when a disbursement type of APFT is used will be reversed back:
Reverse Check – Vendor (Disbursement Type = APFT)
| Debit | Credit | ||
| 665 | USE TAX CLEARING | 53 | USE TAX PAYABLE |
| 126 | CASH 126 – DEFAULT DISBURSAL | 50 | ACCOUNTS PAYABLE |
Disburse Check to a Broker: The general ledger transaction produced in U0101 Disburse check to record a tax transaction which will be claimed back as a refund at the end of the month when a check has disbursement type of I1FT, I2FT, or CMFT will be reversed back:
Reverse Check – Broker Fee (Disbursement Type = CMFT)
| Debit | Credit | ||
| 665 | USE TAX CLEARING | 53 | USE TAX PAYABLE |
| 126 | CASH 126 – DEFAULT DISBURSAL | 72 | COMMISSION FEES PAYABLE |
Reverse Check – IDC1 Insurance Premium (Disbursement Type = I1FT)
| Debit | Credit | ||
| 665 | USE TAX CLEARING | 53 | USE TAX PAYABLE |
| 126 | CASH 126 – DEFAULT DISBURSAL | 73 | IDC1–INS PREMIUM PAYABLE |
Reverse Check – IDC2 Notary Fee (Disbursement Type = I2FT)
| Debit | Credit | ||
| 665 | USE TAX CLEARING | 53 | USE TAX PAYABLE |
| 126 | CASH 126 - DEFAULT DISBURSAL | 74 | IDC2-NOTARY FEE PAYABLE |
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