Contents - Index

Preparing Your Ledger

Introduction
ALMSys is designed to work with your general ledger. In some instances, it will even interface with it. This help topic is intended for lease portfolios.

Design Your Ledger On Paper
It is a good idea to draw up a design on how you want to track leases. Here are some thoughts to consider:
  • Will you need to track cars vs. trucks, or open vs. closed leases separately? If yes, then you will need to establish a location for each separate entity.
  • Will you need to subdivide cars (or trucks) within? (Such as new cars vs. used cars.) If so, you will need to establish a location for each component.

    Call ALMSys Support!
    Please take advantage of support in setting up accounts. We have helped set up many leasing companies and financial institutions. 

    ALMSys' Ledger Accounts
    Ledger account numbers are primarily input on the Location Settings screen. If you have multiple locations, you will need to assign ledger account numbers on each location that you have defined.

    Miscellaneous Monthly Charges (AMPTax Maintenance)
    Besides principal, interest, and late charges, you probably have other items that are charged on a monthly basis, such as monthly reserve or administrative charges.

    A master code needs to be established for each miscellaneous charge and tax. Master codes are 10 characters in length. You do not need to establish an AMPTax code for each location; you will establish a default ledger account for the code and then override this on a location-by-location basis.

    You may want a verbal walk through on how master codes work before proceeding. Contact support for assistance if desired.

    Master codes are established in the AMPTax Maintenance screen. "AMPTax" stands for "Additional Monthly Payments and Tax." 

    Miscellaneous Lease Charges (LeaseChargesMaster Maintenance)
    This is for the miscellaneous lease charges at lease inception.

    A master code needs to be established for each miscellaneous lease charge. Master codes are 10 characters in length. You do not need to establish an master code for each location; you will establish a default ledger account for the code and then override this on a location-by-location basis.

    You may want a verbal  on how master codes work before proceeding. Contact support for assistance if desired.

    Master codes are established in the Lease Charges Master Code Maintenance Screen.

    What's Next
    This completes the initial set up of ALMSys. You are now ready to input new leases, post payments, track insurance, etc. To continue the overview, go to Lease Tracking Basics.