Lease Usage Details
Purpose
It is possible to enter Usage Details regarding a Lease
This will normally apply to the Lease of motor vehicles, although can be applied to other Assets
Usage Details do not need to be completed if they are not applicable to the Asset being leased
Access
from the Lease Asset Details dialog
Dialog Details
Details Specific Fields
Field | Explanation |
Units at Start | Enter the units at the start for this asset In the case of a Motor Vehicle, this will be Odometer reading at the start of the lease This will pre-fill at quote settlement if already entered on the quote |
Units at Finish | Enter the units at the end of the lease |
Usage Allowance | Enter the units used over the life of this asset In the case of a Motor Vehicle, this will be the kilometre allowance for the term of this lease This will pre-fill at quote settlement if already entered on the quote |
Units Used | The difference between the units at start and units at finish The field is display only and will be calculated by the system when this screen is |
Overuse Charge | The charge per unit for units overused If, for example, the overuse charge is $1.20, the units used are 32,000, and the usage allowance is 30,000, then an overuse charge of 2,000 * $1.20, or $2,400.00 can be added to the lease current balance This will be a manual entry The system does not automatically generate this charge This will pre-fill at quote settlement if already entered on the quote |
Underuse Rebate | The charge per unit for units underused If, for example, the underuse rebate is $.50, the units used are 28,000, and the usage allowance is 30,000, then an underuse rebate of 2,000 * $.50, or $1,000.00 can be credited to the lease current balance This will be a manual entry The system does not automatically generate this rebate This will pre-fill at quote settlement if already entered on the quote |
ERV Margin | Estimated Residual Value Margin amount This will pre-fill at quote settlement if already entered on the quote |
Estimated RV | This will pre-fill from the Residual Value field on the Asset Details dialog |
Sale Proceed Share % | On the completion of a lease, some agreements allow for a share of the profit on sale Enter here the percentage share that is to be refunded to the lessee This will be a manual entry The system does not automatically generate this rebate This will pre-fill at quote settlement if already entered on the quote |
Next Registration Date | Enter the next registration date for this asset Registrations coming up for renewal can be reported using the Print Leased Next Registration Report |
Next Service Date | Enter the next service due date for this asset |
Next WOF Date | Enter the next Warrant of Fitness due date for this asset |
RUC Km’s | Road User Charges kilometres can be updated here |
| Mkt Value | Enter the estimated market value of this asset on disposal This will pre-fill at quote settlement if already entered on the quote |
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