Entering Financing Information

Access the Financing Information form.

Financing Method

Specify the UDC (12/FM) that indicates how a fixed asset was acquired, for example financed or purchased outright.

Lesser, Renter or Mortgagor Address

Specify the address book number for the lesser, renter, or lending institution.

Purchase Option

Specify the code that indicates whether there is an option to purchase a leased or rented asset. This code is informational only. Values are:

Y: Yes, there is a purchase option for the asset.

N: No, there is not a purchase option for the asset.

Purchase Option Credit Percentage

Specify the fixed percentage of the monthly payment that applies to the purchase of the asset. Enter a percent as a decimal. For example, enter 25 percent as .25.

Purchase Option Price

Specify the number that indicates the purchase price, if you have the option to purchase a leased or rented asset. This field is informational only.

Purchase Option Maximum Credit

Specify the number that indicates the maximum monetary amount that applies toward the purchase, if applicable. For example, if a portion of the monthly payment is credited towards the eventual purchase of the asset, this number indicates the maximum monthly credit. This concept is typically used with IBM rentals.

Contract Date

Specify the date the contract for the asset was put into effect.

Date Expired

Specify the date that the contract for the asset expired.

Monthly Payment

Specify the number that indicates the amount of the monthly payment for the asset you are financing, renting, or leasing. This field is informational only.

Explanation

Enter a description, remark, name, or address.

Explanation - Remark

Describe the purpose for using an account or convey any other information that you want about the transaction.