Equipment Maintenance - Create an Equipment Loan

Program/Screen: RAEITA/RAEITA10

Description:

Use this screen to enter the information necessary to run the Rental Equipment Return on Investment (ROI) report or to calculate the payments of a loan.

 

Click a link to advance to that section of the topic.

 

 

Navigation

Access this screen by pressing F6=Add from the Equipment Maintenance - Equipment Loan Maintenance screen.  Enter the information necessary to calculate loan payments.  This information is also used by the Rental Equipment ROI report.  An interest rate must be entered in order to run the ROI report.

 

After entering the required information, press Enter to view a loan payment schedule.

 

Unique Equipment Maintenance Screens

Equipment Maintenance - Launch

Equipment Maintenance

Cost

Tax/AMT

Insurance

Vehicle Registration

Cycle Count History

Equipment Tracking

G/L Revenue Distribution Inquiry

Cost History Inquiry

Equipment Loan Maintenance

Create an Equipment Loan

 

Fields

Equipment ID

Enter or accept the number of the equipment for which you are entering loan information.

 

Loan Amount

Enter the total amount of the loan for the equipment.

 

Balloon Payment

If applicable, enter the balloon payment for the loan.  A balloon payment is a final payment of a loan that is larger than the loan's regular payments, and it pays off the loan.

 

Start Year/Month

Enter the year and the month that repayment of the loan starts.

 

Number of Months to Pay

Enter the number of months in the life of the loan.

 

Rule of 78

Enter Y if the rule of 78 applies for this loan.  The rule of 78 is a calculation process of interest expense.  If the rule applies, higher interest payments are calculated for the early months of the loan.  Enter N if the rule of 78 does not apply for this loan.  In this case, you have a simple interest loan where the interest is evenly distributed over the life of the loan.

 

Interest Rate

Enter the interest rate of the loan.  You must enter this information in order to run the Rental Equipment ROI report.

 

For descriptions of the columns that show the loan calculations, refer to the Equipment Maintenance - Equipment Loan Maintenance screen topic.

 

Function Keys

Function Key

Description

F1

Help.  Place your cursor in a field and press F1 to access online help for that field.  Place your cursor outside of any field, and press F1 to access online help at the program level.

F3

Exit.  Exit the page or program.

F4

Search.  Place your cursor in a searchable field and press F4 to access a lookup window or more advanced search screen.

 

Related Programs

Rental Equipment ROI Report

 

 

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