TURBO-Lease will print over 65 standard reports. Below a few are highlighted. All the reports can be run for past, present or future. This allows for forecasting and historical record. Reports may be run in eighteen different sequences. Eight of them you choose. Reports may be sent to paper, the screen, PDF, Excel, Word or to a delimited file you can import into another application for modification. With all these options, you can report data your way.

Trial Balance Reports

The trial balance reports are designed to aid in balancing. They will reflect activity for a date range you specify. Each report will show the beginning balance, activity and closing balance. This includes current activity, adjustments made and new leases booked. There are trial balance reports for lease receivable, residual receivable, lease income, residual income, initial direct cost, advance payments and security deposits.

Lease Receivable Report

The lease receivable report will report moneys received using a variety of methods. Most commonly this report is run on a cash or accrual basis. The cash based receivable report shows activity of actual payments received. The accrual based receivable report shows activity from the schedule of payments. Regardless of the method chosen, the original receivable, current month activity, current year activity, lease to date activity and outstanding receivable will be shown.

Cash Receipts Report

The cash receipts report will show all payments received that fall into a specified date range. Therefore you can print this report for a day, a month, a year, from lease inception etc. The report will detail or summarize payment type. Payment types include, monthly payments, advance payments, residual payments, charge payments and security deposit payments. The report will provide a total for each payment type. This report is most often used to balance to a bank deposit.

Sales Tax Report

The sales tax report will show sales tax collected for each taxing authority. The report can reflect actual payments or accrued payments. You can specify a date range to allow for daily, weekly, monthly, quarterly, yearly or whatever time period is to be reported. The last page of the report will show taxes payable versus taxed collected. You may run this report for state, city, county, local, transit or other jurisdictions.

Income Report

The income report will report income as amortized over the life of the lease. You may calculate and report lease income using four different methods. The available methods are, implicit rate, rule of 78's, straight line, and flow thru. Regardless of the method chosen, the original income, current month income, current year income, lease to date income and remaining income will be shown. This report is a valuable forecasting tool. Run this report for future months to see future lease income.

Depreciation Report

The depreciation report will depreciate equipment within the rules provided by the internal revenue service publication 946. This includes MACRS (modified accelerated cost recovery 200%) for 3, 5 or 7 year property placed in service after 1987, MACRS Bonus and AMT (alternative minimum tax) calculations. Original depreciation, current month, current year, lease to date depreciation and balance will be shown. This report can be run using multiple methods for comparison. It is also is a valuable forecasting tool. Run this report for any future month to see future depreciation.

Delinquency Report

The delinquency report will use the schedule of payments to determine how many payments should have been collected through the report date. Then a comparison is made to actual payments received. If there is a difference the delinquent amounts are aged into delinquency groupings you specify. This report can be run in detail or summary format The summary format will report a total delinquency amount for the lease, whereas the detail report will show each payment that is delinquent. You may then use this report to follow up with past due clients. This report also has historical capability so you can see if a payment was missed at any point in the past.

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