24R2.1 Release Notes
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Import and User Interface Improvements
Balance Adjustments Guardrails
Net Book Value (NBV) Protection
A Balance Adjustment will be blocked from import if any combination of Account Description, Adjustment Type, Amount, and Effective Date causes a negative NBV.
Error Message: [##Schedule Number##]: This Balance Adjustment results in a negative Net Book Value and is not allowed.
A Balance Adjustment will trigger an import warning if any combination of the adjustment values might potentially cause a negative NBV.
Warning: [##Schedule Number##]: This Balance Adjustment may result in a negative Net Book Value, and the account should be reviewed immediately.
Deal Status Behavior
Evergreen – A Balance Adjustment will be allowed for import if the deal is in Evergreen; however, a warning will appear to remind users to review the accounting after import.
Warning: [Schedule Number] is in Evergreen status. Review resulting accounting to be sure it reflects desired behavior.
Note: This warning is because a deal can be in evergreen and either be off the balance sheet or remain on the balance sheet.
As we work through the enhancements to Balance Adjustment, we will introduce additional guardrails when necessary. Please review the updated Balance Adjustment Import and User Interface guide.
Lessor Reference Number
Corrected an issue where the deal-level Lessor Reference Number found in the UI on the Enter Schedule Details and Deal Summary Details workspaces and in the PIW Schedule tab was not carrying over to the modified deal. This data point will flow from the original deal to the subsequent modifications.
Reference Number
We created the ability to import the asset-level Reference Number found under the Operational Attributes section in the Asset Management workspace. This enhancement allows users to import Reference Numbers using three methods:
Asset Management Update (AMU): The AMU now has a new "Reference Number" column for import.
Asset Bundle Export: The "Ref. #" column in the Asset Bundle export can now be utilized to import reference numbers.
API UpdateAssets: The <ReferenceNumber> tag in the UpdateAssets API enables easy import of Reference Numbers.
Asset Management Operational Attributes
This release also addressed an issue in which crucial asset information, specifically the Asset Tag or Reference Number, was not transferred during modifications.
New Currency
XCG, the Caribbean Guilder, is now available for lease transactions.
Note: The ANG (Netherlands Antillean Guilder) currency will remain available until early 2025 when it will be retired.
Asset Management Search
In this release, users will find enhanced search capabilities by adding two new drop-down fields: Lease Genre and Product Category.
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Lease Genre: This field offers three selectable options:
Blank: Searches for both Equipment and Real Estate.
Equipment: Specifically searches for equipment assets.
Real Estate: Specifically searches for real estate assets.
Product Category: This field provides a drop-down list of all available options configured for your portfolio.
Real Estate Leases with Impairment-Type Events
Resolved issues with impairment-type events for leases synchronized from Real Estate Manager to Lease Accounting Manager.
Issues Corrected:
Rollback and re-recording of impairment-type events.
Recording impairment-type events after a payment adjustment.
Functional Currency Changes
We implemented a guardrail to prevent changes to a company's functional currency when leases are booked to that company. This guardrail ensures data integrity and consistency in financial reporting. Please refer to the User Guide—Changing Functional Currency to determine how to proceed.
Note: Depending on your browser settings, the link to the guide will either take you to the guide or initiate a download of the document.
Automatic Return or Buyout with Parent-Child or Non-Valued Assets
Resolved an issue where the automatic return or buyout functionality incorrectly terminated only valued parent assets during nightly maintenance, leaving non-valued child assets unaffected. With this resolution, the system now correctly records and executes automatic events, ensuring all associated assets, parent and child, are terminated as intended during nightly maintenance.
Similarly, when the last valued asset on a lease is terminated, all remaining non-valued assets are also terminated, regardless of a parent-child relationship, maintaining consistency in asset management.
Improved Print-Screen Experience
We fixed a problem with the PDF print format of pages like Deal History and Deal Summary. This fix is useful, especially for printing pages for audit support. Everything should look neat and organized when you print, just like on the screen.
How to Verify:
Navigate to the History tile in Deal History, then press Ctrl-P on your keyboard. Choose "Print to PDF" to see that the formatting looks better now.
Note: Not all pages within LeaseAccelerator are created for optimal printing to PDF. Some workspaces may not be as clean as Deal History and Deal Summary.
Welcome Email
Applied changes to the Welcome Email template, changing Entity in the singular to Entities plural to accommodate a list of accesses and removed the unnecessary server location code from the subject line.
Delete this text and replace it with your own content.
Reporting Improvements
Enhancements for the ‘v2’ Accounting Reports
Affected reports include:
Portfolio Trial Balance v2
Schedule Balance Trend v2
Schedule Trial Balance v2
Schedule Account Activity Trend v2
Portfolio Trial Balance v2 Report – Country Parameter
Corrected the Country parameter on the Portfolio Trial Balance v2 report to recognize the drop-down menu selection.
Schedule Account Activity v2 Report – Report Name
Tweaked the spacing on the text export of the Schedule Account Activity v2 report to include the full report name in the top left corner.
Informational Response
The four v2 accounting reports now return an informational response when the selected parameters do not produce data. Previously, the output included a few column headers with a date of 12/31/1969. The reports listed below will now show "No results match the requested parameters" in both the UI and exported file when no result set is present.
Dynamic Scheduling Options
The dynamic scheduling options currently offered in the original versions of accounting reports are now available in the four v2 accounting reports. This allows users to schedule a report a single time with the ‘Start/End Dates’ shifting based on a combination of the system date the report is generated and the chosen parameter selection.
A new parameter labeled "Period" is now included when clicking into the scheduling menu. Options include Prior/Current Quarter, Prior/Current Month, and the four quarters. All options relate to the configured fiscal calendar. No annual options are included to prevent multiple portfolio-level reports from attempting to generate concurrently – especially near month-end.
Examples of how the Period parameter shifts the ‘Start/End Dates’:
(assuming standard Gregorian fiscal calendar):
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Weekly (Tuesday) selected along with Period = Prior Month:
05/21/2024 and 05/28/2024 reports will move both the Start and End Dates to 04/30/2024
06/04/2024 report will move both the Start and End Dates to 05/31/2024
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Repeat three (3) days after the end of every fiscal month along with Period = Current Quarter:
05/03/2024 and 06/03/2024 reports will move Start Date to 04/30/2024 and the End Date to 6/30/2024
07/03/2024 report will move Start Date to 7/31/2024 and End Date to 9/30/2024
With the Q1 through Q4 selections, the Start/End Dates will shift to the EOM dates for the first/last month of each fiscal quarter within the same fiscal year in which the report is generated.
Note that the Schedule Trial Balance v2 report only has one date parameter. Quarter ‘Period’ selections on this report will use the last month-end date of the specified quarter.
When using the new ‘Period’ parameter, the ‘Run As At’ parameter should be left blank for scheduling.
Other Reporting Updates
Emailing Reports
Resolved an issue with the Email button not sending reports when reports were processed quickly.
Improved Handling of Scheduled Reports During Nightly Maintenance
If nightly maintenance runs past midnight, including evergreening, any scheduled reports set to run on that night will be queued up beforehand. Although they will be marked with that night's date, the processing will occur once maintenance is completed, maintaining the AsAt date of the specified date for the report(s).
Upcoming Report Retirements
Please remember that we plan to retire the original four versions of the reports below, with the 24R3 release currently targeted for November 2024.
Reports targeted for retirement with 24R3 (targeted Nov 2024):
Portfolio: Trial Balance Report
Schedule: Trial Balance By Account for a Single Month Only
Schedule: Account Activity Trend
Schedule: Account Balance Trend
Additional reminder regarding GL reconciliation methods:
“LedgerEntrySubId” and “LedgerEntryId” are being discontinued as methods of GL reconciliation with the 24R3 release targeted for November 2024. Clients using these values for GL reconciliation should work with their Client Success Manager or Client Support to switch to one of the options listed above.