Visual Lease 16.2 - Enhanced Accounting

FASB/IASB MODULE ENHANCEMENTS

We have further enhanced our FASB/IASB capabilities to help our clients better model their lease portfolio and ensure accurate financial reporting.  Enhancements include:

 

  • The ability to dynamically change between Finance and Operating calculations on the fly.
  • Updated column layout for enhanced readability.
  • Enhanced help screen to fully explain each calculation in the FASB/IASB schedule.
  • Updated FASB/IASB reports.

 

ALLOCATIONS and G/L ENTRIES

We have improved how Visual Lease accommodates complex General Ledger scenarios in terms of both Allocations and directly making G/L adjustments, we have added the following new features:

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  • Using our new Allocation Groups, you can now charge individual expenses to specific business units as well as allocate those expenses according to how those business units occupy the premises.
  • Allocation Groups keep a full history of how expenses have been charged.
  • Financial entries can now have offsetting mirror entries to cover double-entry accounting requirements.

 

LEASE ENHANCEMENTS

In our continued response to customer requests, we have made a number of enhancements to our standard lease screens, including:

  • The State field is no longer required.
  • The Property ID on the Lease General screen is now a link to the referenced Lease ID.
  • The length of the Site Number and Building Number fields have been increased. 
  • You can now customize or hide every field in the Lease General – Dates section.
  • The Add Alerts page has been redesigned for improved performance and usability.
  • We have allowed for more flexibility on the Date Type used for Financial and Clause alerts.
  • The Export Grid function on both the Lease Documents and Project Documents pages now outputs Created by and Date and Last Modified by and Date.

 

OTHER ENHANCEMENTS

  • Ad Hoc reports will now allow private reports to be deleted by their owners even if the owner is not an Administrator.
  • The Import function now includes more of the Lease Information - Lease General fields.