What's new

• Index Year-over-Year. Index Rate lines for Payment indexes have two new columns, Increase from Previous (%) and Year-over-Year (%). Enter the rate, or either percentage, and the other values are calculated.
• Reference rate now drives the Discount Rate.
  • Updated How to enter Index Rate and Repricing Run guides.
  • Index cards have a new Affects field: Payment or Discount Rate.
  • Leases set to “Reference Rate % + Fixed Interest %” only accept Discount Rate indexes, and “Initial Payment x Index” leases only accept Payment indexes.
  • Picking a reference rate sets Discount Rate Option to the new value Variable Interest Rate based on Reference Rate. The Discount Rate is then the reference rate plus the fixed interest component.
  • The Repricing Run now changes the Discount Rate, within the Total Rate Floor and Ceiling, and recalculates the schedules. It no longer changes the payment amount.
• Reversals reworked.
  • Reverse Transaction on a lease G/L entry now reverses the lease’s whole month, not just one of its transactions, and updates the schedules the same way Reverse G/L Postings does. Helps prevent incorrect reversals from G/L Ledger entries themselves.
  • Reverse G/L Postings shows the standard Reversal Entry preview for open periods.
  • Periods outside the allowed posting dates are offset on the first allowed date. If a date range covers both, you’re asked to confirm, or told to split it when the journal is used.
  • Dates after “Allow Posting To” are refused, with guidance.
  • Fixed Asset entries are cancelled, not offset, while the FA posting date is still allowed.
  • In journal mode you get a message that the reversal lines are waiting in the journal.
  • New Lease Setup switch, Disable custom reversal logic, for support cases.
• Updated SubLease Financial lease handling. Read more here

Improvements

• Post to G/L run locking. Only one Monthly Run (Post to G/L) can run at a time. A second run stops with “The monthly posting run is already in progress, started at …”. Soft4 admin users get an Unblock posting action on Lease Setup to clear a lock left by an interrupted session.
• Impairment on Fixed Asset leases (and onerous-lease losses) now post to the category’s RoU Asset Impairment account instead of RoU Asset on Modification.
• FA additional reporting currency: lease FA entries post at the asset’s own rate (the commencement or migration date rate), which is kept once the asset has entries. Journal batches no longer fail the additional-currency balance check. With “Use Additional Rep. Currency” off in Lease Setup, no rate is asked for.
• FA Posting Date is set the same way on every lease FA posting (based on the period’s Document Date). Reversals no longer fail on a temporary negative book value.
• Liability current/non-current split: once a period’s opening split has been posted, recalculating the lease no longer changes it, so the schedule keeps matching the G/L. Re-running an already posted period no longer posts a reclassification into a closed period.
• Posting Check: the initial-measurement check compares only with activation, migration and transition entries, and ignores reversed entries. This removes false differences on leases with later postings.
• Limited licence updates.
  • Soft4 Users have a License Types: Full User or Limited User. Limited users have read-only access.
  • Only Full users can change license types.
  • New action, Transfer Full License: moves the Full licence from one user to another in one step, and the other user becomes Limited.
  • The last Full user can’t be deleted.
• Lease Agreements (All Com.) shows Fixed Asset No. and the migration balances.

Bugs

• Changes to Lease Setup now apply straight away, without reconnecting the session.
• A Fixed Asset with a blank Depreciation Starting Date can now be linked to a lease.
• “Use Pro-rata for RoU” in Lease Setup now decides both the start and end of depreciation. Before, a pro-rata lease in a company with the setting off started depreciating mid-month and stopped a month early.
• RoU Asset Report (Consolidated): the Company Filter on the request page is now used. If it’s left blank, the Lease Setup Company Filter applies.
• A lease can’t be terminated later than the end of the period after the last one posted.