This program can only be run when 'Activate Asset Finance Interest Dissection' is enabled in the Company Posting Parameters, and can be used to generate an "Asset Finance Interest Dissection" spreadsheet that breaks down the interest expense postings of the monthly payment to show the interest paid out compared to the actual rental time.
The "Finance Interest Expense" transactions that were originally
posted to the GL as Debits by the Asset Finance
Report and Posting program to the "Owning Division" defined on
the product's Asset Tag, are Credited out
and re-posted to that same "Finance Interest Expense" account but
are now based proportionately on the contract rental time and to
the contract division.
The 'Transfer Interest From Owning To Inventory Location' flag in the Company Posting Parameters controls whether the interest portion when the product is not on a contract, posts to the "Owning Location" or to the Inventory Location (RSIL).
Refer to Asset Financing Information for details on this feature,.
Note: If the "Date Acquired" on the product's Asset Tag is some time during the month, the
available days/dollars is to be dissected in the month is adjusted
If the "Date Acquired" on the product's Asset Tag is after the end of this month, no GL amounts are posted and the payment record is marked as closed on the schedule.
Date Range Control:
If the operator has Date Range Control activated, the Cut-Off Date and the date of the payment details must fall within the period set for AFIN
Resulting Spreadsheet Output:
There are two Tabs included on the resulting spreadsheet including:
The rental document detail information also includes columns for the Customer number and Name, Site, Cost Code, Interest amount (Dr on Rent, Cr total on Payment, Dr not on Rent), Debit or Credit posting type, G/L Account as defined in the associated Rental Product Class, Contract number, Sequence on the contract detail, and the calendar Days on rent on this contract so far this month without considering any Off-Rent time.
Tab 2: - Data Errors
If there are any issues this tab lists the errors that are preventing the postings to the GL, including:
Posting to General Ledger:
After the spreadsheet has been generated the "Report Print OK?" prompt is triggered.
Click NO to abort the posting action, so the GL is not updated and the Asset Finance Interest Report and Posting can be run again for this date.
This Asset Finance Interest Report and Posting program and the Asset Finance Report and Posting program are designed to be run by one operator at a time.
Locking will occur if another operator attempts to run the program at the same time, or if the first operator did not exit the posting program correctly.
A Posting Control Information warning will appear on the screen preventing the second operator from proceeding, and only operators with Security Role permission to the 'Reset Asset Finance Posting' flag will have access to the RESET button that unlocks the program.
Whenever the posting control flag for Asset Finance Report and Posting is reset, an audit record is written to the Delete Log for the Function AFHDR10.
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