Closes the open son contracts.
Clones the information and uses it to open a new son contract. All options indicated in the Master Contract record (other than flat fee options) are cloned from one son contract to the another.
When an inflation index is set up (see the chapter Edit Inflation Rates) and the Master Contract calls for the inflation to apply, the cloning process will increase the Time rate on the new son RA. See more about this at the end of this chapter.
Contracts not cloned:
Son contracts that were manually closed before the "as of date" entered in Field 5 are not cloned.
"Hold" status contracts are not closed and cloned.
Son contracts where the Master Lease End date has been reached.
Son contracts that are inflation indexed and the inflation rate is missing
When this occurs, the following message will be displayed: NOT POSSIBLE TO CLONE - INDEX OF YY XXXX MISSING.
(Where YY is the month and XXXX is the year.)
To correct this, use Edit Inflation Rate to enter the missing record and then re-run this program.
To access the Lease Rental Cloning program, type LSECLN (RET) at any menu "OPTION:" field or the appropriate line number on the Leasing menu. The screen will then display:
| OPTION: __ LEASE RENTAL CLONING 1 Cust # ALL Name 2 Master Contract # ALL 3 Servicing Location TUS 4 Renting Location ALL 5 Clone as of date 06-07-04 Printer: /dev/tty 1BEGIN 2 3ERASE 4 5BACKUP 6 7HELP 8 |
Enter data as follows:
|
1. CUST # |
Enter up to 6 alphanumeric characters representing the Customer number.. EXAMPLE: Type 1230 (RET) (The Customer name displays on the next line.) |
|
2. MASTER CONTRACT # |
Enter up to 8 alphanumeric characters representing the Master Contract number. EXAMPLE: Type 1230 (RET) |
|
3. SERVICING LOCATION |
Enter up to 6 alphanumeric characters representing the location which is flagged as the servicing location. The servicing location is indicated in the Master Contract record as the location responsible for invoicing. EXAMPLE: Type TUS (RET) |
|
4. RENTING LOCATION |
Enter up to 6 alphanumeric characters representing the location which opened the son contracts. Press (RET) to default to "All" locations. EXAMPLE: Type TUS (RET) |
|
5. CLONE AS OF DATE |
Enter a date through which contracts should be cloned. Press (RET) to accept the current date. EXAMPLE: Press (RET) |
The screen will then display:
| OPTION: __ LEASE RENTAL CLONING 1 Cust # 1230 Name 2 Master Contract # 1230 3 Servicing Location TUS 4 Renting Location TUS 5 Clone as of date 06-07-04 Printer: /dev/tty 1BEGIN 2 3ERASE 4 5BACKUP 6 7HELP 8 |
PRESS "F1" AT "OPTION:" TO PROCESS.
This program does not produce a report nor does it print a copy of the closed and opened contracts. To obtain a report that summarized the closed son contracts, use the Lease Cloning Report.
User tip:
Closing a Contract When the Vehicle is Returned
When a vehicle is returned before the end of the month, a credit based on the calculated daily price is offered. The calculated daily price is the monthly rate divided by 30. This credit is applied to another open son contract under the same Master contract or to a son contract of another Master Contract issued to a customer owned by the same parent company. The credit is processed by doing a manual entry of a Customer Service Adjustment to an appropriate son contract.
User tip: Hertz Brazil
For Hertz Brazil users, if the lease period is over when closing a RA and the contract has not been cloned at least 12 times, this program will not close or clone the RA. If the user attempts to clone/close a single RA in this situation, the following message is displayed and the program will terminate:
END DATE HAS PASSED, YET RA HAS NOT BEEN INVOICED AT LEAST 12 TIMES.
Cloning Leases with Inflation Adjustments
The Adjustments subwindow of the Master Contract has a field that defines how frequently the inflation adjustment should be applied to the son RAs. It can be monthly, every 2 months, every 3 months, etc.
The inflation percentage rates can be fixed or variable. If the same rate is to be applied to each month, it's entered in the Master Contract. If the rate is going to vary each month, records are set up in under a code in Edit Inflation Percents for each month. The code is then entered in the Master Contract instead of the fixed percentage.
To illustrate this, we'll use the variable monthly rates shown below for a RA that starts with $3000 for Time.
Inflation Percentages
January 2%
February 3%
March 3.5%
April 2.5 %
May 4%
When the adjustment applies monthly, each time the son RAs are cloned, the Time on each new RA will be adjusted.
First RA opens in January; Time is $3000
Clone February 1; Time would be $3060 (3000 x .02 = $60 inflation adjustment) $3000 + $60 = $3060 new Time amount
Clone March 1; Time would be $3,151.80 (3060 x .03 = 91.80 = inflation adjustment) $3060 + 91.80 = $3,151.80 new Time amount
Clone April 1; Time would be $3,262.11 (3151.80 x 3.5% = 110.31 inflation adjustment) $3,151.80 +110.31 = 3,262.11
Things work differently when the adjustment applies every few months. This example uses a frequency of every 3 months.
First RA opens in January; Time is $30002% for January, 3% for February, and 3.5% for March; = 8.5%.The inflation adjustment is calculated as: 3000 x 8.5% = 255