This document contains the What's New section of past LeasePak releases from v4.3a forward. For new changes to LeasePak, please refer to the What's New section.
The following is a summary of enhancements to LeasePak UX introduced in Release 4.3a.
Additional information on Release 4.3a may be found in the LeasePak UX Release 4.3a System Administration Guide and LeasePak UX 4.3a Release Notes, also distributed by MSI.
When the Asset Percentage Calc Method (A/P) switch in Miscellaneous Customizations option of the Custom General update [U0712] is set to ‘A’, LeasePak will allow the user to select the Net Present Value (NPV ) method for an asset Payoff Method in the Payoff [U0103] and Payoff Quote [U0213] updates. This enhancement supports leases with an irregular payment schedule and AAPR or RAPR accrual types.
LeasePak now has the ability to reverse the lease payment reschedule after a Deferral has been made to the lease in the Payment Reschedule [U0104] update. The new adjustment method DEFR, Deferral Reversal, has been added to the ADJUSTMENT METHOD pull down menu option.
LeasePak now allows for overpayments to IBL’s to be placed in Suspense or as a Principal Pay Down. This new functionality is handled by the PRINCIPAL PAY DOWN switch in Miscellaneous Customizations option of the Portfolio update [U0212]. This new enhancement works in conjunction with the Cash Control module [U0126], Batch Payment Processing (EOP) [U0415] and Batch Payments [U0305].
The Payoff [U0103] update has been modified to include a new option, Sale of Asset in Inventory Reversal. This new functionality will reverse all transactions from a previous sale and create a new suspense item to replace the cleared suspense and cash will be credited accordingly. The Sale of Asset in Inventory Reversal will not be possible is the Historical Payment UPD/ DTX Clean-Up is run during EOP.
When the VIN # or License Plate search option is selected, LeasePak will display leases that contain Paid-Off/Terminated assets.
When Closed Lease Clean-Up [U0419] is run during End of Period, Client Search based on VIN # or License Plate will no longer display Paid-off/Terminated assets.
The Customer Service [U1601] Lease Summary screen <F5> has been modified to include 6 new informational fields in the Lease Summary tabs. These fields include: Brokerage, IDC1, IDC2, Broker Status, Inventory Value and
Customer Rate. Additionally, the Application Inquiry [R0502] report has been modified to include a line description on the Broker’s Activity Status.
The Collections Lease Summary screen has been modified to include two new informational fields: PAP (Y/N) and Suspense Balance for the lease. Additionally, the banner now includes the DBA Name of the Lessee in the Lessee Summary screen.
Payments on interest bearing loans can now be processed through Preauthorized Payments. LeasePak will support both A and B type IBL methods. The Bank File and Batch file created will now include all IBL accrual types that meet the criteria selected in PAP/ACH Control File in the Portfolio [U0212] update, to be run interactively or through EOP.
A new validation function Data Entry Requirements in the Application Tracking module [U0801] allows the user to select various fields within the application and set them as input required at various application statuses. This new functionality will work in conjunction with the Application Status Transfer option of the Applications module.
A new report, IBL Inquiry Report [R0927] has been added to LeasePak. This new report along with a new switch IBL INVOICE DETAIL in the Miscellaneous Customizations option of the Custom General updates [U0712], will display all principal changes, interest changes and interest adjustments for any mid-term adjustments made to an IBL. Additionally, the IBL Inquiry Report [R0927] will display details on each invoice calculation made to the lease.
The Collection and Recovery Tracking modules have been modified to allow Collection and Recovery Queues [U0728] to be assigned Multiple Portfolios. Additionally, LeasePak supports Regional Codes [RC] in the Auxiliary Address [U0704] update. The Regional Codes and the tracking queues will work in conjunction with the Collection and Recovery assignments.
The Off Lease Billing module has been modified to allow the user to access the Allowance for Bad Debt field in the last screen of Payoff or Termination [U0103] update. This field will be accessible for Payoffs/Terminations of both lease and assets, the Invoice (Rent) field remains open to the user.
The PAP/ACH module has been modified to allow the user to enter the PAP Account Name in the PAP Account Maintenance [U0227] add/change option, if the bank account name is different from the Lessee Name. This field will be displayed when the Bank Type is WDE. The Pre-Authorized Payments Audit Report [U0304A], PAP Exception Report [U0304C] and the PAP Projection Report [R0114] will also reflect the Bank Account Name field changes.
The Application Tracking module [U0801] now allows the user to enter a TAX CREDIT TRADE-IN amount for the application. This field works with the v3.3a enhancement, Upfront and Monthly Tax Handling.
This new enhancement is a separately purchased module and works in conjunction with the Collection Lease Summary screen [U1101], the Alternate Lease Summary screen and the Customer Service [U1601] Lease Summary screen <F5>. The External File Attachment functionality allows the user to associate an external file to a given lease number. The external file is saved and maintained in a shared directory. LeasePak will maintain the record of the file attachment on the RFA table and will be deleted during Closed Lease Clean-Up [U0419]. The supported file types are MS Word, Excel, JPG, BMP and PDF document types.
LeasePak now supports the ability to produce an advanced invoice flow from the initial lease term to the Auto Lease Extension without interruption when the Advanced Invoicing switch is set to ‘Y’. The Automatic Lease Extension [U0108] update will display the Advanced Invoicing (Y/N) field only when the 1999 JULE Fund is purchased.
The Lease Extension update [U0108], has been modified to allow a mass change of BOOK DEPR METHOD (see Off Lease Book Depreciation Methods below) and Book Salvage Amount during Lease Extension and Auto Lease Extension processes. The the book accounting methods will extend the lease from operating to operating and finance to operating type accounting methods. This enhancement works in conjunction with the Off Lease Book Depreciation Method enhancement described below.
LeasePak will allow the ability to accrue and invoice up to the actual month end when End of Month is run prior to the end of the month day. If EOM is submitted within the five day window, LeasePak will pre-accrue and pre-invoice for the remaining days after EOM is submitted. Refer to the SUBMIT field of End of Period Submit [U0401] for more information.
The Suspense [U0109] update and Suspense reporting capabilities have been modified to allow the user to enter the application number and lessee number. This will display the application number, lessee name, Customer number and Group number in the Suspense update screens for Add/Change.
Additionally, LeasePak will now allow for partial clearing of Suspense items via Payments [U0102], Payoffs [U0103] and Book Lease [U0101]. The new report, Suspense Item Report [R0208], will display the changes to Suspense items.
The Termination [U0103] update has been modified to allow the user to perform a mass change of accounting and book depreciation methods for all assets tied to a lease at the time of termination. Associated finance assets will be transferred to operating types at the time of termination. This new functionality is based on the CHANGE DEPRECIATION AT TERM switch in the Miscellaneous Customization option of the Portfolio update [U0212] and does not work when the Vehicle Finance module is purchased.
The following is a summary of enhancements to LeasePak UX introduced in Release 4.4a. Additional information on Release 4.4a may be found in the LeasePak UX Release 4.4a System Administration Guide and LeasePak UX 4.4a Release Notes, also distributed by MSI.
Add Straight Line Book Depreciation Methods 26-40
LeasePak now allows the option to choose straight-line book depreciation methods 26-40 years for FASB 13 operating type leases. The new depreciation methods will be available for Federal, State and AMT depreciation methods.
Automatic Status Change from NMAT to NPMT
LeasePak now supports the ability to automatically change the status of an NMAT, CSA type lease to NPMT when all balances, receivables and assessments to the lease are zero and the final accrued to date has been processed.
A new module in End of Period, Paid Off CSA Leases [U0429] will display the leases status change. Selection of this module can be made via the End of Period Customization option in the Portfolio [U0212] update. This new functionality will be driven by a new Portfolio [U0212] switch Automatic Payoff of CSA NMAT leases (Y/N), in the Payoff Customizations option.
Check Disbursal Report
A new report Check Disbursal [R0209] will be generated through the End of Period module. This new report will contain detailed information regarding all checks disbursed within LeasePak containing any disbursement type. This new report will also work in conjunction with the new Multiple Asset Disbursal enhancement described below.
Client Long Name Field Expansion
The client Long Name field has been expanded from 25-50 characters to store up to 125 characters. The Long Name field has been modified in the following updates: Vendor [U0201], Lessee [U0203], Customer [U0205], Guarantor [U0217] and the Alternate Customer Summary Screen (Vehicle Finance Module only).
Additionally, the following updates have been modified to allow the user to view the Long Name with the maximum number of permitted characters: PAP [U0227], Lessee Summary [U1601], and Recovery Vehicle [U701].
Co-Lessee Application Search
LeasePak now allows the user to perform a client search by co-lessee. The new co-lessee search criterion will display the lease and/or application tied to the co-lessee.
Lease Extension Reversal for Multi-Unit Assets
LeasePak now allows an Extension Reversal of a lease with multi-unit sub-assets. Multi-unit assets can be moved throughout LeasePak as whole or partial sub-assets at different stages of the lease and asset circulation.
MACRS Mid-Quarter Federal Depreciation
Four new Federal and AMT depreciation methods have been added to LeasePak. These new depreciation method calculations will be based on MACRS Straight-line, Mid-Quarter Convention with a recovery year equal to 12:. S112, S212, S312 and S412.
Multiple Asset Disbursal
LeasePak now has the ability to disburse all asset checks by lease in the Book Lease [U0101] Check Disbursal screen. LeasePak will list all assets tied to a lease with the asset cost for disbursal. The user can change the defaulted disbursal amount to any of the listed assets.
This enhancement works in conjunction with the Check Disbursal [R0209] report described above.Payment Reschedule-RSC
Three new changes have been incorporated to LeasePak when using the RSC Payment Reschedule method. The following apply to this new enhancement:
- LeasePak now displays the recalculated yield when the RSC payment reschedule method is used.
- RSC Payment Reschedule method can now be used for floating rate leases.
- The ability to reverse RSC Payment Reschedules.
Payoff Customization:Take Income on 'PRN' Payoff of Suspended Leases
A new switch has been added to the Payoff Customization option of the Portfolio [U0212] update. The "Take Income on 'PRN' Payoff of Suspended Simple Interest Lease (Y/N)", will allow the user to choose if suspended income will or will not be taken for simple interest leases using the 'PRN' payoff method.
Payoff Customization:Take Income on 'OPR/INV' Payoff of Suspended LeasesTwo new field options have been added to the Payoff Customization option of the Portfolio [U0212] update. The 'Take Income on 'OPR' Payoff of Suspended Operating Lease (Y/N)' and the 'Take Income on 'INV' Termination of Suspended Operating Lease (Y/N)', will allow the user to take suspended income or not from operating leases with OPR or INV methods.
Note: 'OPR' is not a valid LeasePak termination method for operating type leases.
Prorate Income, IDC and Book Depreciation for Calendar MonthLeasePak will now prorate xOSL and xAPR accrual methods with an SLxx Book Depreciation method; when the new switch in the Miscellaneous Customizations option of the Portfolio [U0212] update is set to 'Y'. Finance and operating income, IDC/IDR and book depreciation will be prorated based on the number of days the lease and/or asset has been active on a specific month. This enhancement will work in conjunction with the following Miscellaneous Customizations Portfolio settings:
- Accrual Deferral Days field set to '0"
- Change Depreciation at Term (Y/N) set N.
Reduction in Notebook Disk Usage
The Client, Asset and Application/Lease Notebook tables have been modified to reduce the disk space consumed. There is no visual or functional change; only the Notebook records have been modified to store the data in the Notebook entry field.
Server Date/Time
All calls to non-MSI time functions have been modified to call MSI standard programs.
Social Security Number Field Expansion
The Social Security/Business ID field has been expanded to store up to 20 characters for clients with state locations outside of the United States. The Social Security/Business ID field has been modified in the following updates: Vendor [U0201], Lessee [U0203], Customer [U0205], Investor [U0216], Guarantor [U0217], Broker [U0219], and Lender [U0220].
Additionally, the following updates have been modified to allow the user to view all 20 characters of the Social Security/Business ID field: Alternate Lease/Customer Summary screens, Application Inquiry [R0502] report and the Lease Inquiry [R0905] report.
Suspense Balance Warning for Payoff/Termination [U0103] and Payoff Quote [U0213]
LeasePak now displays a warning message notifying the user that a Suspense Balance amount exists on a lease/asset when processing a Payoff/ Termination [U0103] and/or a Payoff Quote [U0213]. This new enhancement does not apply to Suspense items added or changed via the G/L Adjustment [U0121] update and does not support batch processes.
Unrecognized Operating Income on Trial Balance Report [R0901]
The Unrecognized Operating Income amount is now displayed on the Trial Balance Operating Report [R0901]. The field information, is retrieved from the Lease (RLS) table and will be populated in the Trial Balance Operating report C [R0901C].
Attach External Files to Lease Summary
A new screen that is accessible through the Lease Summary and Alternate Lease Summary screens in the Collections [U1101] and Customer Service [U1601] updates will allow the user to attach external files. When the screen is selected the following options will be displayed: Add, Edit, Delete and Invoke. Attachments can be added by entering the filename including the drive and path of an existing file as well as the optional description. All attachment information will be saved on a new table. External files attached to leases must be maintained in a common drive that is shared and accessible to users.
Contract State
The Contract State field has been added to the Lessee [U0203] update, this new informational only field appears on the Credit tab of the lessee update and will work in conjunction with the Collection and Recovery Queue Assignments within LeasePak. Additionally, this new field will also work with the DAVOX download file generation.
The following is a summary of enhancements to LeasePak UX introduced in Release 4.5a. Additional information on Release 4.5a may be found in the LeasePak UX Release 4.5a System Administration Guide and LeasePak UX 4.5a Release Notes, also distributed by MSI.
Alternate Forecasting Report
A new switch "Alternate Forecasting Report R0112 (Y/N)" has been added to the Miscellaneous Customization option of the Custom General [U0712] update to allow the user to choose an Alternate Forecasting [R0112] report. This report will vary from the Forecasting [R0112] report based on calculations for Tax Gain, Taxable Income, Cash Receipts, and Leveraged Leases.
Asset Percentage Calculation Method
The Asset Percentage Calc Method field in the Miscellaneous Customization option of the Custom General [U0712] update has been modified to allow the user to choosea new option, "C" for tracking the asset percentage at the Portfolio level.
Additionally, when the "C" option is selected, LeasePak will display the "Asset Percentage Calc Method (A/P)" on the Miscellaneous Customization option of the Portfolio [U0212] update.Base Rate [U0705] Default Date Range
The Default Date range for Base Rates [U0705] has been increased to 35 days. This allows any pre-accrual and invoicing that occurs prior to the actual month end to be included based on "Today's Date". The date range may be modified.
Bonus Depreciation-MACRS (Maintenance Release)
123 new bonus, Federal Tax and AMT depreciation methods have been added to LeasePak based on the Job Creation and Workers Assistance Act of 2002.
Device & Printer Customization
The LeasePak Device and Printer Customization option in the Custom General [U0712] update now allows the user to enter up to 80 printer/job queues.
Client Email Address
LeasePak now allows an Email Address to be entered for all clients. The following updates have been modified to include this new field option: Vendor [U0201] , Lessee [U0203], Customer [U0205], Investor [U0216], Guarantor [U0217], Broker [U0219], and Lender [U0220]. The new field is located in address tab of all the updates.
Expand G/L Interface Data File (Maintenance Release)
The amount fields for the G/L Interface data file now displays 15 bytes. The following fields have been expanded: DSGL.CR_S, DSGL.DR_S, DSGL.MTD_CR_S, DSGL.MTD_DR_S, DSGL.BAL_S
RTX Clean-up for lease/util
The Historical Payment/RTX Clean-Up module [U0451] is now interactive via the lease/util program: Historical RTX Clean up 220. This module continues to delete all transactions processed before the last End of Month. Additionally, it transfers all lease payment transaction information to the Historical Transaction (RHT) file.
Storing Payoff/Termination Data
The Payoff/Termination [U0103] and Payoff Quote [U0213] updates have been modified to create and/or append to a centrally located scratch file for invoice generation. The scratch file will contain information on the Base Payoff Quote and will be dated and appended to-by all users of the system.
Verify Sum of Payments
The Book Lease [U0101] and Applications [U0801] updates now display two new fields: "Sum of Payments" and "Calc. Total Payments". These new fields work in conjunction with the new switch in the Miscellaneous Customization [U0212] screen "Verify Sum of Payments (Y/N)", allowing LeasePak to verify that the Total Amount entered in the Payment Schedule and the Sum of Payments are equal. LeasePak will display an error message and will not allow the lease to be booked when the totals are not equal.
Credit Dial-up: 24 Month Payment History (Maintenance Release)
The Credit Dial-up module now allows the ability to automatically recalculate an accounts payment history for the last twenty-four months via the Sequential Update [U0411] update in End of Period. In order for the account to be recalculated, the Due Date must match the schedule End of Period date and the "Days After Due Day" field in the Miscellaneous Customization option of the Custom General [U0712] update must be populated.
New Transaction Methods for Cash Control [U0126]
Two new options "Property Tax" and "Sales Use Tax" have been added to the Transaction Override field in Cash Control [U0126]. Depending on the option selected, these new fields will apply the payment to the Property Tax or Sales Use Tax for all invoices, from oldest invoice first. The remaining amount will be applied to the oldest invoice first according to the Payment Hierarchy in the Assessment Customization option of the Portfolio [U0212] update.
Batch Payoff
The Batch Payoff module allows LeasePak to automatically post lease Payoffs for leases with RAX* type accrual methods. A new update, Batch Payoff [U0129] has been added to allow the user to process the Batch Payoffs based on the Miscellaneous Customization options set in the Portfolio update [UI0212].
Behavioral Scoring
Four new fields have been added to the Lease Additional Fields (RLSB) table in order to support Behavioral Scoring. Additionally, the Alternate Lease Summary screen and the DAVOX Download File will contain these fields in order to view the newly populated fields. A new bit flag will be set in the Collections Work Schedule to exclude accounts based on the Behavioral Score. Additionally, these new fields will be populated in the Book Lease [U0101] and Master Financial [U0202] updates.
Communication Tracking API
The Communication Tracking API module provides automatic delivery of contract-specific information to be available to any Visual Basic LeasePak companion program. All LeasePak Tracking modules will invoke the API in order to transfer contract data via a COM object.
Leveraged Leaseing
LeasePak now supports Leveraged Leases. This module allows the user to book leases, create invoices, accrue income and record depreciation based on the information from an import file. The file containing all of the financial information will be generated by a pricing system and uploaded into LeasePak.
Prorate Income, IDC and Book Depreciation for Calendar Month
LeasePak will now prorate IDC/IDR and Operating Book Depreciation method when the new switch in the Miscellaneous Customizations option of the Portfolio [U0212] update is set to 'Y'. Finance and operating income, IDC/IDR and book depreciation will be prorated based on the number of days the lease and/or asset has been active on a specific month. This enhancement will work in conjunction with the following Miscellaneous Customizations Portfolio settings:
- Accrual Deferral Days field set to '0"
- Change Depreciation at Term (Y/N) set N.
The following is a summary of enhancements to LeasePak UX introduced in Release 4.6a. Additional information on Release 4.6a may be found in the LeasePak UX Release 4.6a System Administration Guide and LeasePak UX 4.6a Release Notes, also distributed by MSI.
A new field has been added to the Security [U0706] update: "Auto Refresh Notebook Work Schedule". This switch will allow the option of not auto refreshing the Notebook Work Schedule once viewing/editing is complete. LeasePak's default behavior automatically refreshes the Notebook once user closes the note, this new option allows the cursor to default back to the most recently opened note in the work schedule, allowing for easier access to the note if any corrections need to be made.
Customize LeasePak Codes
Hardcoded "functional" LeasePak codes are now customizable through the Custom Code [U0722] update. This enhancement allows for previously hardcoded Code Descriptions, such as Activity Status, Accrual Method and Payoff Method to be renamed. Previous versions of LeasePak only allowed "informational" codes, such as, Asset Status, Lease Source, and Remit Type to be customized.
IDC/IDR Amortization
The IDC Accounting Method field in the New Lease Customization option of the Portfolio [U0212] update, displays a new option, AMR2. This accounting method works with *IF* and *PX* type accrual methods. This new calculation allows LeasePak to amortize IDC/IDR according to FASB13 rules.
LeasePak F1 Help Option
A new LeasePak configuration field has been added to the LeasePak Setup option, "Reference Guide Location". This new configuration setting will allow the user to enter the Reference Guide Location from the (users) network. Once the location has been configured, the user can select the Help [F1] button from any update or report within LeasePak. The default browser (Microsoft® IE is recommended) will launch the LeasePak Reference Guide and open the file for the current active window. This function allows access to the first and second level of all LeasePak updates and reports.
Microsoft® Outlook® Look & Feel
LeasePak's visual appearance can now be changed to display all input fields in a 3D view, creating a shadow effect. Additionally, updates containing tabs, such as Vendor [U0201], Applications [U0801], Tracking Setups, etc., will display a column on the left side containing shortcuts to each tab within the update.
Month to Month Lease Extension
LeasePak now has the ability to extend leases on a month-to-month basis without reducing the residual. All payments can be processed via the Income Account when the RES extension method is used for Lease Extension [U0108], on a cash basis. Additionally, the Lease Summary screen displays a new tab "Original Info", which will display the original lease information prior to the Lease Extension.
Multi-Entry G/L Adjustments
The General Ledger Adjustment [U0121] update has been modified to allow the user to enter more than one balanced debit and credit entry. The screen changes allow the user to verify that all debits and credits entered equal the total amount in dollars.
New Book Gain/Loss Reconciliation Report R0115
A new report has been added to LeasePak to reflect the actual G/L Gain/Loss entries, Book/Gain Loss Reconciliation [R0115]. The new report is arranged by PCRO and will display detailed transaction information. New tables added to LeasePak will update the report whenever there is a change in the Gain/Loss and Allowance to Bad Debt accounts. This report will work in conjunction with the Payoff/Termination [U0103], Sale of Asset in Inventory [U0103] and G/L Adjustment [U0121] updates.
Non-Pyramiding Late Charge Methods
Non-Pyramiding late charges can be assessed or not; based on charges applied to the previous months invoice. A new flag in the RLS table, "Previous Late Charge (Y/N)", will allow assessments to be charged on delinquent invoices when the flag is set to "Y", this flag is automatically set during End of Periods processes. Additionally, a new field,"Minimum Payment Amount" has been added to Book Lease [U0101], Applications [U0801] and the Master Financial [U0202] updates; the field is accessible for leases with non-pyramiding supported Late Charge Method/Codes.
NPV Payoff Quote for OPR Leases
The Payoff Quote [U0213] update has been modified to allow the user to select the NPV-Net Present Value method for OPER type leases. The NPV Payoff Quote calculates the Base Payoff Value by using the Book Salvage Value of the asset instead of the Residual value. This new option works at the lease level and is for Payoff Quotes only.
Payoff/Termination Effective Date Greater than Accrued to Date on IBLs
LeasePak now allows the ability to process Batch and Interactive lease Payoff/Terminations beyond the accrued to date for IBL's. This enhancement will work in conjunction with the IBL Behavior switch set to "A" in the Custom General [U0712] update and the Capitalized Interest switch set to 'N' in the Applications [U0801] and Book Lease [U0101] updates. Additionally, when the Batch Payoff [U0129] module is purchased and Payoffs are processed, the Batch Payoff Report [U0427] will display the exceptions and audits for the End of Period processes.
Post Unbilled Income to Gain/Loss
A new switch "Post Unbilled Operating Income (Y/N)" has been added to the Payoff Customization option of the Portfolio [U0212] update to allow the user to post Unbilled Operating Income to the Gain or Loss accounts instead of the Operating Lease Income account. This new option works in conjunction with the Payoff and Termination [U0103] update and is for operating leases with AOSL/ROSL type accrual methods.
System Date Warning Message for Asset Dispostion
LeasePak now displays a warning message notifying the user that the Current Year (system date) does not match the Asset Disposition Date in the Payoff [U0103] update. This message will be displayed for both asset and lease payoffs.
Tax Rate History on Location Listing R0915
The Location Listing [R0915] report has been modified to display the Sales/Use Tax rate change history. The new fields will display the current rate and effective date as well as all the previous effective dates and all previous rates entered.
User Defined State Codes
Users now have the ability to define and enter State Codes into the RST table. New country codes have been added for the United States, Canada, Mexico, Argentina, Austrailia and Other, in the CNTRY CODE category in Custom Codes [U0722]. The Vertex interface [U0437] requires unique state codes to be entered in addition to special functions that must be performed prior to running Vertex.
Cash Control & Batch Payoff: Copy/Paste Functions
LeasePak now allows the ability to copy/paste information from a Microsoft spreadsheet to the grid controls in the Cash Control [U0126] and Batch Payoff [U0129] updates. Currently, these are the only two updates and grid controls that will allow the copy/paste functionality. It is up to the users discretion on how to copy/paste the information into the grid. MS functions include some of the following options: <Ctrl> +C, <Ctrl> + Insert, or Edit/Copy from the menu tool bar.
DAVOX: Multiprocess DAVOX Download File GenerationThe Collections Module Customization [U1121] update has been modified with a new field "DAVOX Multi-process Count". This new field will allow the user to manually enter the numeric value ranging from 1-20. Additionally, the lease/util 221 option has been modified to allow the user to enter the total number of DAVOX processes to be run. These new options will allow DAVOX to reduce the length of processing time.
Modify Miscellaneous Charges on Alternate Lease SummaryThe Miscellaneous Charges field on the Alternate Lease Summary screen has been modified to include all outstanding assessment charges regardless of the due date. Tax and/or Late Charge assessments will not be included in the total.
Off Lease Billing & Collections WS: Off Lease Billing Invoices Displayed on the R0601The Delinquency [R0601] report has been modified to allow the user to view all delinquent invoice types including Off Lease Billing invoices that are attached to leases with NPxx and/or assets with a USLD type status. Additionally, the delinquency buckets will be updated to incorporate Off Lease Billing invoices that are tied to P,Q and I type leases. The Collection Work Schedule will display all delinquent invoices for both on-lease and off-lease leases including paid off and terminated leases.
Off Lease Billing: Cycle Invoicing for OLB Invoices
A new switch has been added to the Miscellaneous Customization option of the Custom General [U0712] update; "OLB INV on Lease Due Date (Y/N)". This new field will allow the user the option to process Off Lease Billing invoices, either P or Q, through Cycle Invoices on the original lease accrual date and consecutive months following-until the lease is paid off.
PAP/ACH Bank File: Generate PAP/ACH file on Next Business Day
LeasePak can now generate PAP/ACH information on the next business day for payment due dates that fall on a weekend or holiday, as defined in the Weekend Holiday [U0720] update. This new functionality will work in conjunction with the Bank File After Due Date (Y/N) field in the PAP/ACH Control File option of the Portfolio [U0212] update.
Table Driven Depreciation Module
A new menu option, Depreciation [U0730], has been added to LeasePak. This new module allows users to add, modify or delete depreciation values within LeasePak. The user may enter additional lives coverage in whole years and/or delete unwanted lives coverage for formula and table driven depreciation methods, such as ADR Straight Line, ADR Double Declining Balance, ADR Sum of the Years' Digits and Modified Accelerated Cost Recovery System (MACRS) for both the Half-Year Convention and Mid-Quarter Convention.
Note: Proration of Yxxx and Zxxx Straight Line Monthy Depreciation methods are not supported with this ehnancement.
2001 JULE Fund Collection
The 2001 JULE Fund enhancement collection includes the features below. In order to receive any of these features, the entire 2001 JULE Fund module must be purchased. Please contact your Product Support Business Analyst for more information on participating in the JULE Fund or on purchasing this collection.
Auto Assess NSF Fee
A new field, "Automatic NSF Fee Assessment Code" has been added to the Miscellaneous Customization option of the Portfolio [U0212] update. This new option will allow LeasePak to automatically assess an insufficient fund fee when a Payment or Payoff Reversal has been processed. This option work in conjunction with the Cash Control module and the ADM Fee-NSF field in the Lease Form [U0721] update.
Historical Rate Change Tracking
LeasePak now has the ability to track all Sales Tax rate changes at the Location [U0701] level. A new historical table RHO has been added to store all the historical rate changes.
Multiple Asset Maintenance Update U0230
A new update Multiple Asset Maintenance [U0230] has been added to LeasePak. This new update allows the user to update information for multiple-asset leases. Once a lease number is entered, LeasePak will display all assets that are tied to the lease. The user will have the option to select 'All' or specific assets. The fields that may be updated for the assets are the following: Address, Use Tax Code, Property Tax (Y/N), Tax Type, Allow Property Tax (Y/N) Property Tax Basis and Title Filings.
Multiple Asset Tax Waiver
A new option has been added to the Assessment [U0105] update, Multi Asset Tax Waiver, allowing the user to waive Sales/Use Tax and Property Tax for leases with multiple assets. The user may select 'All' to waive the tax on all the assets tied to the lease, or they may select specific assets tied to the lease. This new option works in conjunction with the Off Lease Billing Module and the 2001 JULE Fund module.
OPER Extension on Cash Basis
A new field has been added to Lease Extension [U0108] "Income Cash/ Accrual (C/A)". This field will allow the user to select Cash basis for operating type lease extensions therefore allowing the Book Depreciation accrual to continue during the extension period. This new option also applies to Auto Lease Extension [U0430].
Payment Labels for Off Lease Invoices
The Accounts Receivable Balancing [R0404] report has been modified to display "Type Other" and "Other" columns to list off lease accounts that have a P or Q type invoice status from a Payoff/Termination [U0103]. This new feature works in conjunction with the Off Lease Billing module and the 2001 JULE Fund module.
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2001 by McCue Systems Incorporated.
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The information contained in this document is the property of McCue Systems, Inc. Use of the information contained herein is restricted. Conditions of use are subject to change without notice. McCue Systems, Inc. assumes no liability for any inaccuracy that may appear in this document; the contents of this document do not constitute a promise or warranty. The software described in this document is furnished under license and may be used or copied only in accordance with the terms of said license. Unauthorized use, alteration, or reproduction of this document without the written consent of McCue Systems, Inc. is prohibited.
