ALMSys® 6.3 Development Information
(From Richard Stephens, Chief Software Developer -- Revised 07/30/2014)
You must be on version 6.2 before going to 6.3. Click here for upgrade instructions.
New Deals
You may now create a lease or loan that has built-in payment skips in the amortization. Allowing a customer to skip payments does not adversely affect credit bureau reporting.
A new user preference has been added that will allow you to specify the default location number when adding new deals.
Loans
Added "Loan Payoff Projection" report to Loan Status screen. This new report will give you a 21-day payoff projection.
Added "Loan Payoff Statement" screen and report. This new screen is used to provide a final statement of a loan payoff to the customer. It will also mark the loan so that no further statements are produced. (Note: This is used AFTER a customer has paid off the loan. It is used to provide a final billing statement for the customer's records.)
The loan interest rate change will now allow interest rate changes back to the last payment made date.
When running loan statements, the final statement (at term) will state, "Call for Payoff" in the total amount due box.
New Reports and Report Revisions
A new report, "Invoice Number Billed Detail," has been added. This is a special report whose purpose is to provide a means of inputting invoice information into an external accounting system.
A new report, "Income & Depreciation by State," has been added. This report was requested by auditors and will convey all principal and interest paid for the date range provided. It will also show depreciation for the date range provided as well.
The "Payment Receipt" will now show both the lessee (borrower) and co-lessee (co-borrower) names.
The "Loan Balance" report has been modified to include the original loan calculation data.
A new report, "Additional Monthly Payments Scheduled Payments," has been added. This report will provide a printed report of the scheduled additional monthly payments (AMP) to be made in the date range.
Reports may now be run without including late fees. This means that all late fees charged and all type "S" payment transactions are ignored.
A new report, "Loan Balance Report (Lease Simulation)," has been added. This will generate a report of all active leases with their balance and payoff information as if they were loans from inception. This is a simulation and will reflect all payments being made as if they were paying on a loan.
A new report, "Payments by Location (Loan simulation for Leases)," has been added. This will provide a printed detail of all lease payments posted in the date range provided. This report will group the customers with the location to which they are assigned. The intent of this report is to show the payments received for a location, regardless of where it was paid. This is a simulation and will reflect all payments being made as if they were paying on a loan.
A new report, "Repossession History," has been added. This report will show all repossessions for the date range provided.
A new report, "Delinquencies: Historical," has been added. This will generate a historical report of delinquencies for the date range provided. It is shown in a month-by-month format and it takes awhile for this report to run. The intent of this report is to help analyze your portfolio's delinquency history and may come in handy when looking for new investment capital.
A new report, "Account Deals Summary," has been added. This will generate a quick report of all of the deals that the current customer on the main screen has. To run this new report, click on the "Deals:" label in the orange box.
Credit Bureau Changes
The credit bureau report was fixed to remember the folder in which the file is saved.
Credit bureau account type "15" is now available for those companies using ALMSys for tracking lines of credit.
Deal Editing Features
A new feature has been added that will allow you to copy depreciation calculation values from a different deal.
A new feature has been added that will allow you to copy leveraged financing calculation values from a different deal.
A new button has been added to the payment post screen that makes the payment posting date equal to the payment made date. This was done to expedite back-dated payments.
Interface Changes
Scotiabank has been added to the ACH (EFT) interface exports. The "1464" layout, as defined by Scotiabank, was implemented. This is for Canadian users only.
Coupon exporting has been added. This is used to export batch requests for payment coupons to an external coupon printing company.
Any ledger interface may be exported to an Excel spreadsheet.