Location Settings: Ledger
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This is used to maintain most of the ledger accounts for the accounting interfaces.
Layout / How To
This screen is used to tell ALMSys what your ledger account numbers are. All of the accounts listed are required to be established on your ledger system.
If you export billings to an external accounting system (such as XSellerator), then you probably already know that the accounting system typically ignores billings that are marked as being on month (term) #1. The Force Interface to Accept Term 1 Billings check box, when checked, will alter the term #1 billings to state that they are term #2, thus avoiding being excluded from the billings interface.
Balancing using the Payment Distribution Report
This section is written in the context of balancing by using the Payment Distribution Report (payments received disbursement). Only the fields in the orange box are required.
Lease Loans (Principal Asset). This account is debited with the amount lent to the lessee for the lease. Debit this account immediately upon lease start. For loans, this is the principal account for payments.
Lease Payments (Liability). This account is credited with lease payments made by lessees and is used to balance cash to cash between ALMSys and your ledger. The full payment is placed into this account.
For an initial payment that includes the security deposit, you must post the security deposit to the Lease Security Deposits Account (described next). Only the payment portion is posted to the Lease Payments account.
For a lease that rolls in the first payment, your institution is responsible for making this first payment for the deal. This payment is credited to this account and debited against the Lease Loans account.
For a lease that rolls in the security deposit, your institution is responsible for making the security deposit for the deal. This amount is credited directly to the Lease Security Deposits account and debited against the Lease Loans account.
This account is not used for loans.
Lease Interest (Income). This account is credited once per lease term with the interest income for the month. For loans, this is the interest account for payments.
Lease Late Charges (Income). This account is credited once per lease term with the late fees collected for the month. For loans, this is the late fee account for payments.
Lease Security Deposits (Liability). This account is used to hold security deposits for leases. Generally, this account is credited with new leases, and debited when leases terminate. For new leases that roll in security deposits, these amounts are credited to this account when the lease is issued and debited against the Lease Loans account. (Not used for loans.)
Lease Suspense (Suspense Account with Liability). ALMSys does not disburse any payment until a full payment has been made. Any amount that is not considered as a full payment is kept in this account until the full payment has been made. (Not used for loans.)
Balancing via Receivables
This section is written in the context of balancing by using the Detail Billed Reports. Each account type has a corresponding offset account.
If you export ledger information, then you may use the ledger account sign reverser buttons to reverse the sign on the amount begin exported. Typically, one sign would be positive and one would be negative.
Lease Loans (Principal Asset). This is the principal income account.
Lease Payments. Not used for receivables balancing.
Lease Interest (Income). This is the interest income account.
Lease Late Charges (Income). This is the late fee income account.
Lease Security Deposits (Liability). This is the security deposits account.
Lease Suspense. Not used for receivables balancing.
Interest Additional Journal. This is used to make an additional interest entry (leases only) for billing journals.
Lease Cap. Reduction. The capitalized cost reduction account.
Lease Book Depreciation. The monthly book depreciation account.
Lease Lev. Fin. Interest. The leveraged financing interest paid account.
Lease Lev. Fin. Principal. The leveraged financing principal paid account.