Simplify Complex Accounting with LeaseQuery
LeaseQuery is an industry leading accounting software that is known to simplify the complexities of lease accounting. Thousands of organizations use this software for their lease accounting processes and LeaseQuery has become the number one rated cloud-based, CPA-approved solution. This integration allows users to minimize risk, increase efficiency, and discover critical financial insights across your organization.
See below for some of the major benefits of the LeaseQuery software:
- Faster month-end and year-end close process
- SOC Report and AUP Engagement issued by a Big 4 public accounting firm
- Savings and insights from your lease contracts
- Critical date reminders
- Accurate AP reports
- Central repository with easy document retrieval
- Journal entries available with one click
- Consolidated disclosure and compliance reports
- Audit trail and lease change reporting
- Role-based access
Loan Management Preferences in AcuLoan
The AcuLoan system has several different Loan Management Preferences that are set up during the implementation phase. These preferences allow for a more custom system. Users can see numbering settings, write-off parameters, collection information, loan preferences, and taxation of the preferences screen from the AcuLoan dashboard.
Loan Book Dashboard Overview
Like Acumatica, AcuLoan has its own dashboard that can be configured to best fit your needs. This dashboard is configured and designed the same as any other dashboard in Acumatica using the design feature along the top right-hand side of the screen (you can see this in the screenshot above). The AcuLoan dashboard is called the Loan Book Overview.
In the photo below, users will see what the Loan Book Overview dashboard looks like and what tiles are and graphs are available to configure.
On the Loan Book Overview Dashboard, there are several configurable tiles. These help users to see an overview of their loans and accounts in AcuLoan. In this specific dashboard view you can see several things:
• Total Book Value
• Advanced Payments Disbursed
• Receipts Payments Received
• Different Trends – deal size and capitalized interest
• Actual vs. Budget – Income
• View of Certain Loans
There are several other items that can be included on a dashboard for AcuLoan. These tiles and graphs have many customization options. The colors can be changed as well as the thresholds which prompt the tile to “alert.” Dashboards in the AcuLoan program from Acumatica are a great way to get an overview of what is happening in the system. These dashboards can be configured one time for multiple users to see.
If you think you could use a dashboard like this for your loan data, please contact Polaris Business Solutions; info@polaris-business.com.
Endless Acumatica
Acumatica is so much more than just an ERP. There is so much that goes into it and so much that you can utilize. When we talk about Acumatica, we aren’t just talking about the CRM or any other part of the software, we are talking about Acumatica’s business as a whole. Acumatica really values customers and spends a large amount of time putting in the effort to make sure that each customer gets what they need and how they need it.
LeaseQuery Makes Your Life Easier
At Polaris Business Solutions, we strive to work with the best products available for our customers. As part of this initiative, we have entered into a new partnership with a market leader for lease accounting, LeaseQuery. We know that deadlines for the new lease accounting standards are changing quickly! LeaseQuery’s main mission is to simplify lease accounting complexities and break down the accounting process for its users.
Adopting the new rules while staying within certain standards can take a lot of time. Using a lease accounting software designed for managing the lease process can save time and resources.
If you think LeaseQuery is a product your business is interested in, please contact Polaris Business Solutions; info@polaris-business.com
Loan Classes and Reporting Groups | AcuLoan
AcuLoan has the ability to create loan classes and report groups. These two categories will allow users to organize the loans and assist with reports. Below is a brief overview of both loan classes and reporting groups.
Acumatica 2022 R1 New Feature: Improvements to Project Quoting
In the new release of Acumatica 2022 R1, the system has enhanced the project quoting functionality. The steps to create a project quote have been minimized and users now have the availability to create quotes for multiple related customers. The Projects Quotes (PM304500) screen has been enhanced for a better experience.
What is Lease Accounting Software? | LeaseQuery
Lease accounting is the process by which businesses record the financial impact of agreements to rent or finance the rights to use specific assets, also known as leasing. The reporting standards for lease accounting are maintained by the Financial Accounting Standards Board (FASB) in the United States, the International Accounting Standards Board (IASB) internationally, and the Governmental Accounting Standards Board (GASB) for state and local entities in the United States.
New Feature for Finance Improvements to Recognition of AP Documents
In the latest release of Acumatica 2022 R1, there have been several updates to the recognition of AP documents including resubmitting, searching for a vendor, and mass processing.
Acumatica 2022 R1 Feature Review: Pro Forma Invoices
Acumatica 2022 R1 has been released and there are several new features to highlight for each edition of the project. To continue with the projects/construction edition, there are a few changes to note about the Pro Forma Invoices Form (PM307000). See the below screenshot and notes with information regarding the changes.
On this form, there are several new columns that have been added. Each of these columns are pulling data in from the Related Revenue Budget Line of the project on the Revenue Budget tab of the Projects Form (PM301000).
· Revised Budget Quantity: revised budget quantity of the line
· Actual Quantity: actual quantity of the line
· Previously Invoiced Quantity: the running total of the Quantity to Invoice column on this tab
· Quantity to Invoice: billing quantity
· UOM: Unit of measure for the project
· Unit Price: Unit price
· Progress Billing Base: Basis of project billing
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