Automatic Payment Settings [U0227]

Lease Number

Displays the lease number.

Lessee Number

Displays the Lessee number.

Lessee Name

Displays the name of the Lessee.

Payment Interval

(Optional)

Select one of the following options from the dropdown list to setup pap interval for the lease

• 0) Use Payment Schedule
• 1) Once a Month
• 2) Twice a Month
• 4) Four Times a Month

If PAP field is set to Y, the Payment Interval field defaults to 1 then U0227 allows to change Payment Interval field if U0212 PAP/ACH Customeization → PAP/ACH Current Payment Only field is set to either O or Y. Setting the Payment Interval field to 2 or 4 will initialize the following fields:

1. Number of PAP-ACH payments made in current cycle (rlsb. pap_count_l) = 0
2. PAP-ACH invoice due date for current cycle (rlsb. d_pap_invo_due_s) = blank
3. Previous PAP-ACH amount for current cycle (rlsb. prev_pap_d) = 0

The Payment Interval field can only be changed if PAP/ACH is not between PAP/ACH cycles. Changing Payment Interval field will display the following error message when PAP cycle has not been completed yet.

A completed PAP cycle will have Number of PAP-ACH payments made in current cycle value reset back to 0.

AUTO-PAY

Checking this box turns enables the Electronic Payments to use the payment gateway process. When this box is checked, remaining auto-pay fields will be mandatory. If unchecked the remaining fields will be meaningless except for the electronic payment source which may be used as a default for a one-time payment. The checkbox will be disabled if the PAP/ACH field is set to other than 'N'.

AUTO-PAY START DATE

(Mandatory)

Enter the start date to begin auto-payments to apply. Automatic payments will not be applicable before this defined date. If Auto-Pay field is selected, LeasePak will default this field to the lease commencement date. Users can change this date with any other required date to apply after the commencement date, but not before the commencement date. This field is mandatory when Auto-Pay is selected.

AUTO-PAY STOP DATE

(Mandatory)

Enter the end date to stop considering automatic payment(s). LeasePak will not consider any automatic payments electronically after this defined date. When auto-pay field is checked, LeasePak defaults this field to lease maturity date. This field is editable as per the required date to stop processing auto-payment(s) but cannot be set this date to after lease maturity date. This field is mandatory when Auto-Pay is checked.

AUTO-PAY AMOUNT

(Mandatory)

This field determines the dollar amount to be automatically charged to the payment source and how that paid amount will apply through batch payments. LeasePak ignores the auto-payment(s) when payment interval filed is set to 0. If payment interval field is set to 2 or 4, the amount defined in this field must be A-D and will be shared/spread over multiple payments during the month. This field is mandatory if Payment Interval and Auto-Pay fields are set to other than zero. For the first time LeasePak defaults this to same as at portfolio level if defined at U0212 Portfolio update. However, this is editable to any desired value regardless of the setup value at portfolio level with available valid options. The possible available valid option are:

• A - Total outstanding on current invoice (apply to lease)
• B - Total outstanding on current invoice (apply to invoice)
• C - Payment and tax outstanding on current invoice (apply to lease)
• D - Payment and tax outstanding on current invoice (apply to invoice)
• O - Other specified amount
• P - Payment and tax outstanding on the lease
• T - Total outstanding on the lease
• _ - n/a

Conditions: Option O can only be used when user has set Payment Interval to 1. Users must enter Auto-Pay amount greater than 0. This is the amount which will apply on the due date of each invoice from user’s account if there is any open invoice on the due day of the month.

For example: Lease is quarterly, due on 5th of Jan, Apr, Jul, & Oct. The applicable payment amount equal to or less than the amount entered in auto-pay amount field in is as of the 5th of Jan, Apr, Jul, & Oct. The amount to apply can never be more than the amount outstanding on the lease.

Once payment is being charged to the electronic payment source the amount will be charged through batch payments. LeasePak performs this payment charge through the lease number and therefore apply payments to an outstanding invoice than the one that was used to determine how much to charge, unless option B or D are selected. If option B or D is selected the batch payment will list the invoice number instead of the lease so that it applies directly to that specific invoice. Options B and D are not allowed on IBLs because payments cannot be done on IBLs by invoice. The supported IBL accrual methods are xAXx, xIXx, xAFx, & xIFx.

Name on Account

Name of electronic payment source account holder will be displayed.

Account Number

Account number of selected electronic payment source will be displayed.

Expiration

Expiray date of the selected electronic payment source will display.

PAP/ACH

Use to select from the list:

• No - Disables PAP/ACH for the lease, except for ad hoc PAP/ACH (see One-Time Electronic Payment [U0134] for more information).
• Yes - Enables PAP/ACH for the lease.
• 1 - Processes the PAP/ACH for the lease as though the portfolio-level field PAP/ACH Current Payment Only was set to 'Y', regardless of the actual portfolio setting.
• 2 - Processes the PAP/ACH for the lease as though the portfolio-level field PAP/ACH Current Payment Only was set to 'N', regardless of the actual portfolio setting.
• 3 - Processes the PAP/ACH for the lease as though the portfolio-level field PAP/ACH Current Payment Only was set to 'O', regardless of the actual portfolio setting.
• N - No
• Y - Use portfolio setting

PAP/ACH Account

If needed, change the PAP/ACH account number for the lease.

NOTE: This field is mandatory if "Payment Interval" is equal to 0.

PAP/ACH Inst ID

If needed, change the institution identification number for the lease.

NOTE: This field is mandatory if "Payment Interval" is equal to 0.

PAP/ACH Eff Date

If needed, change the PAP/ACH Effective Date for the lease.

PAP/ACH Act. Name

If needed, change the PAP/ACH account name for the lease. If you are using ACH, WDE format, this name will appear in place of the Lessee name on both the interactive and End of Period Preauthorized Payments. Otherwise, this field is informational only.

Invoice Format Code

The Invoice Format Code/format description. LeasePak prints the code and description to Cycle Invoices [U0302] invoice scratch file and to Lease Inquiry [R0905]. Set up Invoice Format Codes using the code category INVOICE FORMAT CODE (INVO.FMT) in Custom Code [U0722]. For applications, you can access this field in Application [U0801] Tab 7.