Contents - Index

Deal Tracking Basics

Tracking leases and loans can be a daunting task. ALMSys goes to great lengths to simplify the process.

Different companies have different tracking needs. For example, a credit union may only be tracking the bill & collect aspects of a lease, a leasing company may only be tracking insurance & licensing, while a dealership may be tracking all of these and more. ALMSys is flexible enough to handle all of these needs.

The Lease/Loan Month
For each month, you will need to perform the following steps:
  • ALMSys Compliance Reporting.
  • Add new deals as they arrive.
  • Post payments as they arrive.
  • Run billing. (leases only)
  • Balance.
  • Credit Bureau Reporting.

    ALMSys Compliance Reporting
    On or after the first of every month, the ALMSys Compliance Report must be run and sent to ALMSys, Inc. Monthly ALMSys maintenance fees are due by the 10th of each month.

    Adding New Deals
    New deals are added via the New Deal Notebook. This is accessed via the new document speed button on the main menu. New lease detail is reported using the New Lease Detail report, and new loan detail is reported using the New Loan Detail report.

    Posting Payments
    As payments arrive, post them. There are three places in ALMSys that will post payments for you:

    1. When adding a new lease, first payments received are automatically posted for you.
    2. Individual payments may be posted on the borrower's payment or adjustment post screen.
    3. Mass posting is accomplished using the multiple payment post screen.

    Payments are reported using the Cash Receipts Journal or the Receipt Report.

    Billing
    The billing process is what ALMSys uses to move EACH lease to the next month in their respective amortization schedules. This is a lease function only and should not be used for loans. 

    Even though you may choose to not send a printed statement to your customers, billing must still be run at least once per month. The billing procedure can be found in the reports notebook.

    Balancing
    ALMSys recommends that your portfolio be balanced on a monthly (calendar) basis. You may certainly balance more often, but experience has shown that balancing to month boundaries is easier and less confusing.

    Balancing for leases mainly involves disbursing the payments received during the lease month. Different companies balance differently. See the help topic on balancing for more balancing details.

    Credit Bureau Reporting
    ALMSys can report to any U.S. credit bureau. Foreign country credit bureau reporting is not supported. This process is performed after the monthly balancing has been completed and when the actual calendar date is into the next month. See credit bureau reporting for more details.

    Other Tracking Tasks
    There are other tasks that you may need to perform during the lease month. These tasks involve:
  • Insurance tracking
  • Vehicle (collateral) tracking
  • NSF processing
  • Payoffs
  • Delinquency processing
  • Depreciation (leases only)
  • Leveraged finance payments (typically leases only)
  • Sales/use tax payments (leases only)

    Additional Training
    Telephone training of ALMSys is provided free of charge. Contact support for your training needs.