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Interim Processing
Interim billings can be calculated in two different manners: (1) the Prorate Rental method, and (2) the Interest method. The Prorate Rental method prorates the regular lease rental amount to the interim rent period. Interim Interest enhances the interim feature by calculating and invoicing interest charge amounts on either the equipment cost or a separate funding schedule using fixed or variable interest rates.
Multiple Interim invoices can be billed for a contract according to a variety of payment frequencies. The exact length of the interim period is not required to be known during the interim schedule setup. This provides additional flexibility and allows you to modify your interim schedule during the interim period. You can even add assets to the contract during the interim period and adjust your interim schedule for the remaining interim period.
Key Benefits
Interim Interest rates can be
tied to a variable rate index or a fixed rate.
You can add assets or additional fundings to the lease during the interim period and adjust your Interim Schedule for the remaining interim period.
Interim income can be deferred over the life of the lease or recognized upon billing or cash receipt.
to bill multiple interim rent invoices according to a variety of payment frequencies. The exact length of the interim period is not required to be known during the Interim Interest Schedule setup due to the fact that the application is flexible enough to allow modification of your Interim Interest Schedule during that period.