Interim Rent and Interim Interest
Please see attached document for additional information on Interim Rent and Interim Interest
Interim Rent and
Interim: A charge for daily use of
equipment between either the contract acceptance date or the equipment install
date and the actual contract commencement date. ASPIRE offers two interim calculations:
Interim Rent is rent is calculated
using a prorated daily rent amount to calculate the amount of interim. This amount can be based on the contract
payment amount or on each piece of equipment's payment amount.
Interim Interest is calculated using
an interest rate to calculate the charged amount. This amount can be based on the equipment
cost or the vendor invoices paid (aka fundings).
Calculating ASPIRE IDC Expense (Effective Interest Method)
When ASPIRE v5 IDC contract items are configured to use the effective interest method the system creates an amortization schedule of each IDC item and subtracts the interest in that amort from the customer facing interest amount per period to ...
Contract Items in ASPIRE Contract Items in ASPIRE can be either amortized or recognized upfront. Certain contract items can also be financed depending on the contract finance product type. Click here for a 13:30 video walking through the Contract ...
See the attached document for complete information. The attached document goes through all the necessary setup for generating Delinquency in ASPIRE. Processing Delinquency Assessment is covered, as well as setting up reoccurring assessments through ...
Standard Book Value Report - Calculations and Logic
See attachment for details. The attached document details the Book Value logic used on the Book Value report in the Dashboard Reports General Ledger folder. The document defines the Book Value logic for a Capital (Direct Finance) Lease, Operating ...
Real Life Bank Funding Setup Information
See Attachment for more information CONTENTS OF ATTACHMENT: 1. Explanation of the fields within the Contract Explorer > Funding Screen - Page 2 3. How to select the payment stream to be included in the Sale, Participation, or Assignments ...