The following is a summary of enhancements to LeasePak UX introduced in Release 5.0a. Additional information on Release 5.0a may be found in the LeasePak UX Release 5.0a System Administration Guide and LeasePak UX 5.0a Release Notes, also distributed by MSI.
Allow ARES Extension on Non-IBL's
A non-IBL arrears lease may now be extended via Lease Extension [U0108], if the original accrual method on the lease is an RAPR, ROSL or RVV* type method. The lease may be extended on a Cash or Accrual type basis.
Allow Bypass for 0% Yield on IBL'sBook Lease [U0101] now allows 0% yields for IBL's to be processed without displaying the following error message: "Unable to calculate yield factors".
Alphabetic Invoice NumbersLeasePak now generates alphabetic invoice numbers when the Invoice Number Type (A/N) field in Custom General [U0712] update, is set to 'A' (alphabetic). Additionally, this enhancement also allows the user to exclude certain characters to be generated within the invoice number. LeasePak's default excluded characters are AEIOUY and V. This enhancement also works for Pre-fetch invoice numbers.
Alternate Taxable Income ReportA new switch added to the Miscellaneous Customization option of the Custom General [U0712] update, Alt Taxable Income (Y/N), allows the user to choose an alternate Taxable Income [R0310] report, calculating the proration of a non-monthly lease each month.
Calculate Turn-In Date
LeasePak now calculates the Turn-In Date one day after the Maturity Date. The following updates have been modified so that when the Maturity Date has been calculated and/or recalculated, the date will be one day after the Maturity Date; Book Lease [U0101], Payment Reschedule [U0104], Payment Extension [U0107], Lease Extension [U0108], Rebook [U0116] and Auto Lease Extension [U0430]. The Lease Inquiry [R0905] report will display the Turn-In Date +1 day after the Maturity Date.
Expanded Help on Grids
A new field option, Expanded Help on Grids has been added to the LeasePak Setup option. This option allows the user to select additional expanded help on Native VB grids within LeasePak. With this option on, multi-column drop down help and client search capabilities may be invoked within certain grids in LeasePak. This option does not support all grids within LeasePak.
Prior to version v5.0a, native VB grids did not feature client search capabilities, nor did they display multi-column descriptions for drop-down help. Due to the complexity of existing LeasePak code, grids that support the expanded help option, may impact normal LeasePak behavior and cause unexpected results.
Note: This enhancement will remain in beta status until it is determined that it can be fully supported by MSI.
Include Payoff Balances for OPR
A new field added to the Payoff Customization option of the Portfolio [U0212] update, Take Unbilled Operating Income on 'OPR' Payoff (Y/N), allows LeasePak to include and calculate the Unbilled Operating Lease Receivable, Deferred Operating Lease Revenue, Unrecognized Operating Lease Income and Suspended Income Accrued in the base Payoff Amount of the Payoff [U0103] and Payoff Quote [U0213] updates when set to 'Y'.
The default value of this field is 'N' and LeasePak will process OPR type Payoffs as in previous versions; Unbilled Operating Lease Receivable, Deferred Operating Lease Revenue, Unrecognized Operating Lease Income and Suspended Income Accrued, with a zero balance upon Payoff.
Multiple Lease Waiver
A new option added to the Assessments [U0105] update, Multiple Lease Waiver, allows the user waive multiple lease level assessments based on lessee, customer or lease number. All leases tied to the lessee and/or customer with outstanding assessments are displayed and may be waived.
Multiple Lease Waiver will allow leases that are in 'NP**' or 'NC**' type status to be waived when the Off Lease Billing module is purchased.
Payoff/Termination Source Name
A new field "Source Name" has been added to the Payoff and Termination [U0103] options. The Source Name from the lease is defaulted based on the Payoff or Termination Source Code entered. The Dealer/Vendor Name, Customer, or Insurance Agent Name defaults when the Payoff or Termination Source Code begins with a D*** (Dealer/Vendor), C*** (Customer) or I*** (Insurance Agent Name). The SRC-Payoff Source codes are defined in the Custom Codes [U0722] update.
Prior YTD Fields on the R0905
The Lease Inquiry [R0905] report now displays previous year-to-date tax information for Federal, State and AMT depreciation in the Asset Detail section of the report. These fields will be populated with previous YTD information once end of year processes are run.
Additionally, when the 1997 JULE Fund module is purchased, the report will display the Rental Income Previous YTD and GL Income Previous YTD information in the Accrual Information section of the report. The previous YTD fields will be populated once General Ledger Lessor Income [U0446] end of period process are run.
Remove Gross Receipts
LeasePak now allows the user to select how gross receipts will be processed for sales tax. The following has been added to the Multi Asset Tax Waiver and Multi Lease Waiver options in the Assessments [U0105] update: “Do you wish to remove from gross receipts (Y/N)?” and “Do you wish to add to non-tax gross receipts (Y/N)?”.
Suspended Earnings [R0609] Added to EOM
The Suspended Earnings [R0609] report has been added to End of Period end of month process. The report may be selected to run via the End of Period Customization option of the Portfolio [U0212] update. The EOM process will produce end of month detail. If the report is selected interactively after EOM is run, the reports will be identical.
Application Tracking: FASB 13 Test
The Application tracking module now allows LeasePak to perform a FASB 13 test to determine if the contract being entered is a Finance or Operating type lease. A new field in the Miscellaneous Customization option of the Portfolio [U0212] update, 'IRR Use In FASB 13 Test (A/B/C)' will determine how the FASB 13 test will validate the contract data. The test results and the date will be stored and displayed on the application being tested.
Application Tracking: Residual Percentage on Rate Plan
The Matrix tab in the Rate Plan [U0816] update has been modified to allow Residual Percentage values to be defined for the rate plan terms entered. The percentage value will default to the application based on the Rate Plan selected in the Terms/Rates tab of the Application [U0801] update.
Maturing Lease Tracking: Assignment by Vendor
A new field in the Vendor [U0201] update, Maturing Lease Team, allows the user to associate a team to the vendor. The Maturing Lease Tracking module will assign work schedule items based on the team associated with the vendor. The work schedule will be updated based on the User's Profile and the Maturing Lease Assignment [U0431] module run during end of period.
PreAuthorized Payments: PAP Account Override
The Pre-Authorized Payments module has been modified to allow the user to override the PAP account information entered in the Lessee [U0203] update, at the lease level. This new option allows for the PAP information to be changed for a given lease without effecting the account information of all leases associated with a given lessee.
The PAP account details for a lease may be overridden in the Master Financial [U0202] and/or the PAP Account Maintenance [U0227] update.
Table Driven Depreciation: Prorate Straight Line Book Depreciation
The Table Driven Depreciation [U0730] module allows the user to enter new straight line book (SLxx and Zxxx) depreciation methods over 'x' number of months. This will allow the book depreciation amount to be prorated based on the book depreciation Start Date when the Prorate Income, IDC/IDR, Depr (Y/N) field is set to 'Y'.
This enhancement works in conjunction with the Table Driven Depreciation and Prorate Income modules.
Vehicle Finance: Notebook Reason
A new field "Reason" has been added to the Alternate Lease Summary Notebook screen in the Collections [U1101] and Customer Service [U1601] updates. This field allows the user to enter a reason code for the note being entered. The Notebook Reason Code is user defined in the Custom Codes [U0722] update.
Credit Bureau Interface
The Credit Bureau Interface is a bridge system between MicroBilt’s credit report software and LeasePak. This interface transfers data between Microbilt and LeasePak databases via the Internet. All client information (vendor/source, lessee and guarantor) will reside centrally in LeasePak.
This module works in conjunction with the LeasePak Application Tracking [U0801] module and gives the user the ability to select client data (lessee, co-lessee, guarantor etc.) and transmit it securely to the Microbilt servers. Data (including credit scores) from requested bureaus are pulled and stored on the MicroBilt servers for later retrieval and review. The bureau reports and scores can be transferred to LeasePak, in real-time or left on the MicroBilt servers. LeasePak uses MicroBilt’s Systems Integration Tool Kit to access selected bureau products from D&B, Experian Business, Experian consumer, Equifax and Trans Union.
Additional requirements include the following:
- Application Tracking [U0801] module purchased.
- Separate licenses with MicroBilt and appropriate credit bureaus.
- Internet connection.
- Properly configured web browser in order to view credit reports.
Pricing Tool Interface
The Pricing Tool Interface is a bridge system between Ivory Consulting’s SuperTrump™ pricing tool software and LeasePak. This module transfers data from SuperTrump™ to the LeasePak database; importing the data without the need to re-type the information over again.
This module is integrated into the LeasePak Application Tracking module and allows the ability to locate a SuperTrump™ pricing run (parameter file), on the users PC or network share. All applicable fields from the pricing run will be stored into the current LeasePak application.
Automated Lease Document Generation- GenerationDX
The Automate Lease Document Generation (GenerationDX) module allows the user to produce contract origination type documents directly from their PC. Documents such as; “Master Lease Agreement”, “Lease Schedule”, “Pricing Quote” can be generated using a mail merge type function setup between Microsoft’s Word™ application and LeasePak.
This optional module enhances the Document List update [U0815] and allows the user to specify, by document list, which document to generate at which status and what MS Word™ template to use for the merge. The MS Word™ templates must be predefined and will contain both static text as well as mail merge “fields” that are then replaced with actual data from the application the user is working with at the time.
Once built, the document may be opened in MS Word™ as .doc file and then, printed, faxed, email, converted to a PDF file,.etc. Please see the Document List [U0815] update for a complete list of the fields currently supported.
NOTE: The LeasePak Application Tracking module must be purchased in order to use this module. In addition, Microsoft Office (or Word) must be installed on the users PC.
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