Lease contract entry - Payment data tab

On the [Payment data] tab for lease contract entry, you can enter contract condition and payment schedule.  You can also display a list of payments from the first installation date to the latest. 
 →  "Operating lease" and "Off-balance"  →  To Operation Procedure
 →  "Finance lease" and "On-balance"  →  To Operation Procedure
 →  "Finance lease" and "Off-balance"  →  To Operation Procedure

Screen Transition

[Leased Assets Module]
  ↓
[Entry]
  ↓
[Lease contract entry]
  ↓
[Lease contract entry] screen - Contract information tab
[Lease contract entry] screen - Payment data tab
  "Lease discount calculation" button  →  [Lease discount calculation] screen
  "Execute" button (when "Interest" is "Monthly payment") →  [First payment interest calculation] screen
  "Execute" button (when the calculation is executed more than twice) →  [Refresh payment schedule] screen
[Lease contract entry] screen - A/C and Payment method tab

Item Setup

[Lease condition]

• Payment method
  When you selected lease transaction type whose "Lease type" on the [Contract information] tab is finance lease, enter "Principal-equal," "Equal payment" or "Others." 
  When you selected lease transaction type whose "Lease type" on the [Contract information] tab is operating lease, the item shows "Operating lease" and no modification can be made. 
• Principal-equal payment method: Method that the principal should be repaid at fixed amount.  The repayment amount comes to the principal added with payment interest. 
• Equal payment method: Method that the payment amount is fixed for each installation.  The principal is the repayment amount subtracted with interest.  Although the principal is small in the early period, as the period goes later, as the principal will become bigger. 
• Others: Method other than the above payment methods. 
• T/F date (in case of closure)
  Select "Previous business day" or "Next business day."  The default displays none.   Select T/F date in case that the bank is closed on payment due date.  The selected result will be reflected on payment due date of the [Payment schedule] section. 
• Payment count
  It is not displayed when "Others" is selected in "Payment method."
• Interest
  Select if you want to calculate interest based on "Daily payment" or "Monthly payment."  It is displayed only when "Finance lease" is selected in "Lease type" of the [Contract information] tab. 
• Fraction adjustment (interest)
  Select the fraction adjustment method for interest from "Revaluate," "Omit" or "Round off."  It is displayed only when "Finance lease" is selected in "Lease type" of the [Contract information] tab.
• Daily repayment days (in case of closure)
  Select "Contract date" or "T/F date."  In this item, you can specify the range of repayment days in case that the bank is closed on payment due date (displayed in the [Payment schedule] section). 
  When you select "Contract date," the Daily repayment days cover the period from the payment due date to the next payment due date.  Meanwhile, when you select "T/F date," they cover the period from the T/F date (displayed in the [Payment schedule] section) to the next T/F date. 
• Daily repayment days
  Select "Excluding the date of front end," "Excluding the date of rear end" or "Including both days." 
• "Excluding the date of front end"´ interest calculation method that only includes completion date (expiration date, last repayment date).
• "Excluding the date of rear end"´ interest calculation method that only includes borrowings date. 
• "Including both days"´ interest calculation method that includes both completion date (expiration date, last repayment date) and borrowings date.
• Annual days
  Set up the days consisted in one year. 
• First principal repayment date
  It is displayed only when "Others" is selected in "Payment method."  Enter the first repayment date for the borrowing principal.  No modification is allowed after the first principal repayment is completed. 
• Principal repayment date
  It is displayed only when "Others" is selected in "Payment method."  Select the principal repayment date from "1-31."  If you want to enter the closing date, enter "31."
• Principal repayment interval
  It is displayed only when "Others" is selected in "Payment method."  Enter the number of months from "1 to "12" based on the principal repayment interval.  
• First payment Amt
• Installment
  It should be entered when you enter "3" or bigger in "Payment count". 
• Last payment Amt
  It should be entered when you enter "2" or bigger in "Payment count".
• First payment date
• Payment date
  Enter the monthly payment date from "1" to "31."  
• Payment interval
  Enter the number of months from "1 to "12" based on the payment interval.  
• First coupon payment date
  It is displayed only when "Others" is selected in "Payment method."
• Coupon payment date
  It is displayed only when "Others" is selected in "Payment method."  Enter the coupon payment date from "1" to "31."  If you want to enter the closing date, enter "31."
• Coupon payment interval
  It is displayed only when "Others" is selected in "Payment method."  Enter the number of months from "1 to "12" based on the repayment interval.

[Interest spread]

It is displayed only when "Finance lease" is selected in "Lease transaction type." 

• Interest change date
  The default displays the same date as that in "Lease start date."  
• Interest type
  Select "Floating rate" or "Fixed rate." 
• Interest rate
• Memo
• Use

[Lease debts]

It is displayed only when "Finance lease" is selected in "Lease transaction type." 

• Unpaid lease balance
  Click the "Lease debts calculation" button, and "Discount current value of total lease price" will be calculated.  After the value is compared with "Quotation purchase value" entered on the [Contract information] tab, the smaller one will be displayed in "Unpaid lease balance." When "Quotation purchase value" is smaller, "Interest (%)" value on the interest spread will be cleared.  The formula to calculate "Discount current value of total lease price" is as follows:
  
  Discount current value of total lease price
  = {First lease payment amount / (1 + Interest × Months / Annual months)} + {Lease installment amount / (1 + Interest × Months / Annual months)²}+ .... + {Lease installment amount / (1 + Interest × Months / Annual months)^{n - 1}} + {Last lease payment amount / (1 + Interest × Months / Annual months)ⁿ} + {(Bargain purchase value + Remaining value guarantee amount)/ (1 + Interest × Months / Annual months)ⁿ}
  
  (n means payment count)

[Payment schedule] (Upper)

• Contract date
• Currency
• Total lease expenses paid
  "Total lease price" of the [Contract information] tab is displayed.  When "Bargain purchase value" is entered, "Total lease price" summed with "Bargain purchase value" is displayed. 
• Unpaid lease price balance
• Lease expiration date

[Payment schedule] (Lower)

• Payment due date
  Displayed in red when the bank is closed on that date.  
• T/F date
• Total payment Amt
  "Lease expenses paid" summed with "Tax" is displayed. 
• Lease expenses paid
  Click the button and "Discount current value of total lease price" will be calculated.  After the "Discount current value of total lease price" is compared with "Quotation purchase value" entered on the [Contract information] tab, the smaller one will be displayed in "Unpaid lease balance."
• Tax
  It is displayed only when "Off-balance" is selected in journal entry type of lease transaction type selected in "Lease transaction type." 
• Lease debts repayment Amt
  It is displayed only when "Finance lease" is selected in "Lease transaction type." 
• Payment interest
  It is displayed only when "Finance lease" is selected in "Lease transaction type." 
• Unpaid balance
• Unpaid lease debts balance
  It is displayed only when "Finance lease" is selected in "Lease transaction type."  
• Daily/Monthly payment
  It is displayed only when "Finance lease" is selected in "Lease transaction type." 
  It shows whether interest calculation is based on daily pay or monthly pay.  
• Days/Months
  It is displayed only when "Finance lease" is selected in "Lease transaction type."
  It shows the number of days/months from the last T/F date to the latest T/F date.  It indicates the number of days/months based on daily payment or monthly payment.  
• Paid
  When payment for the line is already processed in [Lease payment commit entry], mark the checkbox. 
• Unpaid
  When you cancel the payment in [Lease termination entry], mark the "Unpaid" checkboxes of the lines except the ones whose "Paid" checkbox is ON.  When the "Unpaid" checkbox is ON, it cannot be interlocked with [Debts Control] because no process can be made in [Lease payment commit entry].  

[Buttons]

• Lease discount calculation
  It is displayed only when "Finance lease" is selected in "Lease transaction type."  Click the button to display the [Lease discount calculation] screen where current discount value of total lease price is calculated.  After entering "Monthly pay Amt," "Payment count" and "Interest rate," click the "Discount calculate (C)" button to calculate lease debts total Amt.  Afterwards, click the "OK" button, and the calculated lease debts total Amt will be reflected in "Lease debts entry Amt" of the [Payment data] tab. 
• Recalculation
  This button calculates repayment schedule for the lines on which a cursor is moved. 
• Bulk Recalculation
  This button calculates repayment schedule for all lines.
• Execute
  Enter the lease condition and click the button.  A list of payment schedules that are calculated in the [Payment schedule] section will be displayed. 
  After the list is displayed, click the button again to display the [Refresh payment schedule] screen.  On the [Refresh payment schedule] screen, you can specify after which line of payment schedule should be recreated on the list.  
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