Introduction to Leasing

For a better understanding, the user has to be familiar with the navigation around Temenos Transact products, the Temenos Transact accounting concepts, FT, TFS, TT and AA modules.

The major components of this module are:

• Lease Booking and Vendor Disbursement.
  • Lease Booking involves the actual lease contract creation and make due or capitalization of any fees to be collected.
  • Vendor Disbursement involves the disbursement of net amount.
• Sales Taxes.
  • Sales taxes to be calculated on repayment amount and billed to customer along with repayment schedule.
  • Tax rate should be based on the Lease province and maintenance of tax rate or GL has to be possible by province.
• Sales Tax remittances.
  • Data extracts for lease related tax remittances, and lease-associated tax deduction.
  • Ability to identify prepaid rent schedule differentiated from regular installments.
• Local fields.
  • Local field to capture CCA class code.
  • Local field to capture the Lease number in case of third party leases.