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Vehicle Termination Worksheet

Main Menu - Vehicle - Termination Worksheet

This is intended for leases only.

Used to assist in vehicle terminations by providing (2) worksheet calculations, lease-end payment tracking, and various reports.

The worksheet should be initially calculated BEFORE the initial payoff has been performed. For Turn Ins, go to the Lease - Misc. screen and calculate the excess mileage. For Repossessions, and if you are using ALMSys to track inventory, enter the inventory data on the Vehicle - General screen

After the worksheet values have been entered and calculated, terminate the lease. Termination payments for the charges on this worksheet are entered on the Payments screen (see below).

Layout / How to
There are four different screens, as follow:

(Please note that the Disposition Fee and Repossession Fee fields represent the same single field in the database. This is true for Other Charges as well.)

Turn In
This is used for non-repossession turn-ins. Some fields are calculated from data on other screens.

Outstanding Lease Payments Owed may be retrieved from current balance calculations or by manually entering an amount. Press the button to have ALMSys calculate this for you. In addition, you may calculate the remaining unbilled payments for the lease. Use the Plus All Unbill Payments button for this.

Repo. (Repossession)
This is used for repossessions. This worksheet is intended to be used before the initial repossession payoff is posted. 

The Current Payoff may be retrieved from the Payoff screen by pressing the Payoff Screen button, setting up the Total Payoff Amount on the Payoff Choices screen, and pressing the Return Amount to Term. Wkst. button.

The Amount Sold For may be copied from the Vehicle - General screen's Inventory Sell Amount field by pressing the Copy Inventory Sell Amount button.

Recon. (Reconditioning Estimate)
The calculations on this screen are used on both the Turn In and Repos. screens. Fields are provided for reference numbers from work orders.

Payments entered here are for lease-end termination tracking only. This is not where payoffs or lease payments are to be entered.

The grid will convey the termination payments for this lease. You may not edit this information, but you may delete a record by clicking on it and pressing the button in the edit panel on the right.

Press the button to add a new termination payment. Data is entered in the teal edit panel on the right. Save your changes with the button at the top of this edit panel.

Press the button to get the Vehicle Termination Payment History report.

Like regular lease payments, payments posted here will automatically be added to the payment batch if your preferences are set for "Always add ..." and "Not Specified." Payments may be manually added or removed from a payment batch via the right-click pop-up menu.

Some of the items may have taxes calculated. Taxable items must be checked and the overall tax rate must be provided. Default tax rate and taxable information may be copied from the Lease Company information by clicking the Reset Tax Data From Lease Company button.

It is highly recommended to run the Lease Termination Settlement report once per month. This will produce a summary of the outstanding settlements as well as a statement of account which is sent to the lessee.

Vehicle Repossession Worksheet
Vehicle Termination Payment History
Vehicle Termination Worksheet
Vehicle Termination Worksheet Screen Print