What’s new: SOFT4LEASING Release SL54 is here!
Author Simona Skorupskaite
The following features and functionality have been introduced with the latest Soft4Leasing version SL54:
- The Soft4Leasing solution is now upgraded to the latest Microsoft Dynamics NAV 2017 version.
- Improved invoicing/ billing functions: now include Credit Notes with complete audit trail (new NAV 2017 feature).
- Easier G/L reporting: added account grouping in G/L, more out-of-the-box G/L reports added (new NAV 2017 feature).
- Improved multi-currency functionality: the functionality enables financing in foreign currency, Loan, A/P, A/R ledgers are extended to support independent currencies (Module S4L.CCY).
- Improved structure of contact master data: adds more flexibility in adding addresses, emails, phone numbers and ID documents to the contacts (Modules S4L.ADDR and S4L.CONT).
- Enhanced Securitization module. “Funder Payables” functionality now has daily batch with functions “Get collections” and “Create Funder Payables”. The batch keeps history of payment allocation and splits cash inflows between Servicer (Lessor) and Funder.
- Sample configuration of multiple “Company Codes” demo database has been created in order to facilitate easier setup of securitization functionality. Company code SOFT4 is a lessor (servicer) company, TRUST-A and TRUST-B companies are two securitization funds (financiers). When batch or lease receivables are sold to trust, contract balances in G/L go to a different company dimension (i.e. no longer on Lessor balance sheet, but on Funder balance sheet instead).
- Improved Document emailing. Now the Soft4Leasing system has a more friendly tool for email body text setup (done in Word template, with xml data mapping from Soft4Leasing database). Instant emailing feature has been improved, now configurable on Document Template – the user can define which documents (“Approval Advice”, for example) should be instantly emailed to the customer/ dealer/ broker/ salesperson.
- Flexibility in Origination process: leasing company can start from the Quote or directly from the Application. This enables integration with 3rd party origination software, when sales process is outside Soft4Leasing (i.e. Soft4Leasing system can receive credit application which is already approved).
- Improved audit trail. G/L and sub-ledgers now have more detailed “Source Codes”, indicating transaction origin. This enables more detailed revenue reporting (e.g. regular interest revenue, origination fees, collection fees, early termination fees, penalty interest on overdue). Detailed “Source Codes” help to split payment allocation, for example, customer payment is allocated to regular instalment to be remitted to the funder, but fees paid stay with Servicer of a Lease Contract.