Lease Billing Edit

** This utility is under development and is not yet available. **

The Lease Billing Edit must be run before Lease Billing can be initiated.
This edit program produces a Lease Billing Edit report, which must be manually checked to confirm that all leases and amounts are correct before proceeding with the final Lease Billing run.
Any leases that have had equipment returned or sold, should be terminated using Terminate a Lease .

Lease Billing Example:

Equipment was leased on 01/20/20XX for 6 months.
Customer will be billed:

     Billing           From          Bill To     Code
     -------           ----          -------     ----
     Billing 1        01/20/20XX    02/20/20XX    20
     Billing 2        02/20/20XX    03/20/20XX    20
     Billing 3        03/20/20XX    04/20/20XX    20
     Billing 4        04/20/20XX    05/20/20XX    20
     Billing 5        05/20/20XX    06/20/20XX    20
     Billing 6        06/20/20XX    07/20/20XX    20

Normally one Cycle Billing Day is billed at a time.
e.g. run the edit for Billing Day 20, then run the final billing for Billing Day 20, before running the edit for Billing Day 21.
Even if you get behind in billing the leases, you must still complete one cycle billing day at a time in order to catch up.

Billing Short Calendar Months:
On the last day of the month, run the Lease Billing Edit and Lease Billing for the "extra" billing day codes.
e.g. on Feb. 28th, run the Lease Billing Edit and Lease Billing for billing day codes 28, 29, 30 & 31
and on April 30th, run it for billing day codes 30 & 31

Bill To Date   Billing Day Code For Leases going From
------------   ---------------- ---------------------
February 28th         28        Jan. 28th to Feb. 28th
February 28th         29        Jan. 29th to Feb. 28th
February 28th         30        Jan. 30th to Feb. 28th
February 28th         31        Jan. 31st to Feb. 28th

April 30th            30        Mar. 30th to Apr. 30th
April 30th            31        Mar. 31st to Apr. 30th

Invoice Date versus Bill to Date:
The Bill To Date is completely independent of the Invoice Date.
The Bill To Date represents the end of the billing period for that lease.
The Invoice Date can be the same as or different from the Bill To Date. The Invoice Date is requested in Lease Billing .

Many firms bill the leases one month in advance.
e.g. they issue the invoice for 01/20/20XX, but the billing period goes from 01/20/20XX to 02/20/20XX.
This increases their cash flow. Selecting the invoice date is entirely up to your firm's policies.

When to run the Edit:
The Lease Billing Edit should be run at the end of each day, after all deliveries of lease equipment have been done and all equipment returns have occurred.
This allows the leasing staff to setup the new leases and terminate the old leases with equipment returns, before the billing for that day is done.
If this makes your end of day routine too busy, then run the billing the next morning using yesterday's date as the Bill To Date.

The prompts to initiate the edit run are:

BILL TO DATE

This is the date which the lease will be billed up to.
e.g. the end date of the billing period.
In the Lease Billing Example, the Bill To Date column represents the dates which will always be used to bill to.

The Bill To Date is independent of the Invoice Date.
Some firms bill one month in advance, i.e. they issue the invoice for 01/20/20XX, but the billing period goes from 01/20/20XX to 02/20/20XX. The invoice date is set during Lease Billing .

BILLING DAY CODE

The billing day code for the Bill To Date is displayed.
The billing day code will correspond with the calendar day, i.e. on the 28th of the month, the Cycle Billing Day code = 28, on the 29th of the month, the Cycle Billing Day code = 29.

NOTE: On the last day of the month, run the Lease Billing Edit for the "extra" billing day codes.
For example, on Feb. 28th, run the Lease Billing Edit for billing day codes 28, 29, 30 & 31; and on April 30th, run it for billing day codes 30 & 31.

FROM LEASE #

Leave this field blank for all leases with this billing day code, or type in the desired lease number.

TO LEASE #

Leave this field blank for all leases with this billing day code, or type in the desired lease number.

Finished?

A printer can be confirmed or re-selected from the Printer option located on the menu bar at the top of the screen.

Click the ACCEPT button to begin printing the report, or CANCEL to abort.

The Lease Billing Edit report prints the leases in alphabetical order by Ship To Customer Name.
This should coincide with your lease filing system.
After verifying the Lease Billing Edit report run Lease Billing to generate the invoices.