A Well Oiled Machine:Running Your Portfolio

Saturday, March 24, 2012

1:30 pm

Track: Brokers Becoming Lessors

Speakers:

Joe Andries – GreatAmerica Portfolio Services Group, LLC

Jack Harvey, CLP – Enterprise Financial Solutions, Inc.

Amy Spragg, CLP – Pacifica Capital

Speakers

• Joe Andries – Vice President and General Manager of Great America Portfolio Services Group LLC, Cedar Rapids, IA.

• Amy Spragg, CLP – Owner and Managing Director of Pacifica Capital, San Juan Capistrano, CA.

• Jack Harvey, CLP – Owner and President of Enterprise Financial Solutions, Inc., Little Rock, AR.

Invoicing

• Interim Invoicing/Rent– Fixed due date method– Proactive due date extension method

• Invoice Generation– Internally– Outsourced– Coupon Booklets– ACH– Email or US Mail

Invoicing• Custom Invoicing

– Private label– Master lease consolidation– Individual schedules– Marketing solicitation

• Invoice Content– Billing information– Payment– Fees and taxes– Asset– Miscellaneous– Remittance stub with return envelope

Cash Management &Payment Collection

• Forms of Payment– Check– ACH– Wire– Credit Card– “Western Union”

• Lockbox/PO Box– Major/Regional Bank– Local PO Box

Sales Tax / Use Tax• Application

• Process returns– Online– Via mail

• Frequency

• Audits

• Accrual vs. Cash Basis

Personal Property Tax

• Request Statement

• Process statement

– Declaration date (Jan 1st)– Report assets on statement– Invoiced by jurisdiction– Tax due– Default Account

Personal Property Tax

• Bill Lessee’s– Estimated monthly amount on each invoice– Estimated annual amount in advance– Actual annual amount

• Conditional Sales/$1.00 purchase option• EFA• Audits

Account Support& Collections

• Customer Service– Early payoffs/buyouts

• Collection Procedures– Call– Letter– Legal– Enforcement/Repossess– Remarketing

End of Lease

• Evergreen clause/month to month renewal

• Notification options

• $1.00 purchase option

• True lease collection

• Equipment Return/Remarketing