U0212 Portfolio

Predefined Cycles Customizations

This screen is used to establish or change parameters associated with Accrual [U0301] and Invoicing [U0302] updates.

Field Descriptions

• ACCRUAL CYCLE
  Select the check box next to valid payment due days for the portfolio. On each day the check box marked checked, accrual processing will be executed through End of Day. Leave the check box unselected next to invalid payment due days.

• BILLING CYCLE
  Select the check box next to days to create invoices through End of Day. Leave the check box unchecked next to days that invoicing should not be executed. Billing cycles do not have to be the same as the accrual cycles; however, each billing cycle must have an accrual cycle.

For example, accrual cycles are 1, 5, 10, 15, 20, and 25 (i.e., payments may be due on any of these 6 days of the month):

or,

or,

In this example, the check box checked for accrual cycle cannot be entered for every day in BILLING CYCLE because billing cycles 2, 3, 4, 6, 7, etc. would not have an associated accrual cycle. In fact, billing cycle of every day is valid only if the accrual cycle is also every day.

LeasePak always uses the tax rate applicable to the lease due date, not the tax rate applicable to the date on which the accrual occurred.