Account Performance Improvements - Product Advisory

Introduction

We are excited to inform you about an upcoming improvement to our accounting engine that will significantly enhance its performance. With the 24R3 release, this enhancement is expected to boost performance, particularly for leases with multiple assets, during recalculations and portfolio imports.

Key Points

1. Performance improvement:

   • Extensive testing has indicated a performance improvement of greater than 500% for our largest portfolios.

   • Extensive testing has indicated a performance improvement of greater than 500% for our largest portfolios.

     1. FX rates

     2. Day 2 events

     3. Evergreening

     4. MEC events

     5. Post-processing (for future accounting releases)
        

2. Impact timing:

   • The accounting performance improvement is scheduled to be rolled out in release 24R3.

   • Preview environment release date: 10/21/2024

   • Production environment release date: 11/18/2024

   • We strongly recommend reviewing and testing this improvement in your Preview environment once it is available to determine the impact on your portfolio.

3. Who will benefit most:

   • Customers with asset-dense portfolios will experience the highest impact.

   • For schedules with 1,000 or more assets, you will see a dramatic improvement.

   • If your schedules are structured with 10 or fewer assets, the performance increase will be modest.

4. Adjusting entries:

   • Please be prepared for a one-time increase in immaterial adjusting entries during the first open fiscal period at the time of deployment, potentially up to 20% more than your typical monthly volume of journal entries. This is primarily due to penny rounding adjustments. Note: Based on our testing, this will not impact subsequent periods.

     1. No impact code for the Adjusting Entries Analysis Report macro will be available for these entries.

Enhancing your accounting processes can unlock significant benefits, and we are excited to support you every step of the way. Our dedicated team is here to assist with any questions or needs, ensuring a seamless and successful experience.

Deployment Updates

We are targeting our deployment to begin earlier for 24R3, starting at 4:00 p.m. ET. This will primarily affect our US West Coast users. The earlier start should prevent us from flowing deeper into Monday should any issues arise so we can open the environment by 9:00 a.m. ET as planned.