LeasePlus™ is a usage based system that gives you the ability to expand your business without being restricted by a platform or the technology. LeasePlus' unique design of asset management, lease and loan accounting, portfolio servicing and report generation is flexible enough to service the needs of equipment financiers of all types and sizes.
Here is a glimpse of the benefits LeasePlus offers:
LeasePlus affords you the flexibility to meet all your
customer’s financing needs. In addition to offering leases and loans, LeasePlus also offers a wide range of financing options including: variable rate, same as cash, floor planning and line-of-credit structures. The benefit this affords is the ability to expand your business without any platform or technology restrictions or dependencies.
LeasePlus also provides tools that help meet your customer’s cash flow needs. These tools allow you to be creative with your payment structures offering the ability to set step, skip and seasonal payment streams.
LeasePlus will allow you to handle amortization in a number of ways. Whether you select Actual Daily Balance, Fixed, or Fixed with Adjustment, LeasePlus will build your earnings amortization.
LeasePlus also offers flexible interest calculation methods for calculating daily interest including: 30/360, actual/360 and actual/365.
LeasePlus also gives your business the tools needed to expand your funding options including: warehouse lines, termlines, securitization and venture.
In addition, the system provides your company with a platform that promotes the operational vigor, efficient servicing and timely reporting required to attract and maintain your funding source relationships.
LeasePlus' statement and invoice presentment allows you to accommodate the varying needs of your customers payment processing requirements.
LeasePlus can initiate and process ACH and PAPs to improve the speed of cash flow and identify potential delinquency.
LeasePlus also has a rules-based cash application tools that can be applied to any manual or lock-box check, allowing you to predetermine the rules for applying cash when it comes in.
LeasePlus offers a robust collections and customer service dashboard that provides accurate and timely information, enabling your collections team to take action on the accounts that need immediate attention.
LeasePlus has a rules-based engine that can automatically assign accounts to collectors. The system allows you to set escalation processes and prioritize and manage tasks.
LeasePlus also offers ACH and PAP payment options in addition to wire transfers and check by phone.
LeasePlus will also produce comprehensive historical documentation and correspondence on any collection activities.
LeasePlus simplifies contract booking with entry templates, interim rent and interest calculations, and FASB 13 testing.
LeasePlus also handles mid-term changes, regardless of if it is a term extension or a partial buyout, with minimal effort and disruption while keeping a comprehensive view of the contract history.
LeasePlus' asset-based structure allows for easily processing partial adjustments to a contract, and the system structure automatically records the appropriate journal entries and re-amortization of the remaining contract term for any contract adjustments made throughout the life of a contract.
End-of-term processing such as notification, renewals, residual recovery, end-of-term purchases and the return of the assets are all also completed with ease.
LeasePlus provides you with a system you can rely on to
comply with sales and property tax authorities.
LeasePlus accurately processes and bills sales tax through the use of automatic rate updates, exemption tracking, asset level jurisdiction assignment and exception management.
The system will also manage the property tax process from calculation assessments through to the collection of property taxes. It also offers sales tax reporting simplifying the sales tax return processing.
Another benefit of LeasePlus is the improved efficiency in the billing process as a result of the bulk billing feature; bulk billing eliminates the need to manually create individual invoices.
LeasePlus also provides the ability to:
LeasePlus automatically creates appropriate journal entries for the processing of your lease / loan contracts. It also allows you to account for your portfolio based upon an unlimited number of divisions and/or finance companies, and your account structure is configurable with up to six segments.