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Portfolio Servicing
LeaseTeam products provide users with the tools they need to service their portfolio. Whether you need to change contract terms, apply cash, or generate invoices, your employees will have the tools at their disposal to efficiently service all of your portfolios.
Available functionality includes:
Standard Invoicing
Our Standard Invoicing functionality lets you automatically set up invoice schedules for interim billings, discounted rents, renewals and other regularly recurring billings. This gives the user maximum control over how billing items are accounted for, including the general ledger posting accounts, cash or accrual accounting and the transaction taxability for sales/use tax.
The Usage Based Invoicing tool automates invoicing when the charge is based on any type of measurable usage. Examples include cost per copy, cost per procedure and cost per unit produced. Click here to learn more...
LeaseTeam's system also allows you to combine secondary charges, such as insurance or maintenance, in with primary charges for invoice presentation purposes. While the customer sees two charges combined, your general ledger account will show two separate transactions.
Customers with multiple schedules can receive a combined statement with all deals; one with each deal invoiced separately; or one with their different deals combined on the same invoice based on the borrower P.O. number.
Our portfolio management software provides a wide variety of invoice and statement formats. Invoices typically show one charge and do not contain any prior balance information, while statements include a prior balance and also shows any other charges during the time frame specified for the customer.
Miscellaneous Invoicing
When you have one-time billings to process, such as application fees, document fees, NSF fees, etc., our miscellaneous invoicing functionality will handle that processing with ease. The miscellaneous invoicing feature also allows you to combine two charges together if you wish, as described above.
Interim Processing
Interim billings can be automatically calculated and invoiced through the system's Invoice Generate functionality. You enter basic information into the interim schedule (much of the required information is defaulted in for you), and the interim amount is automatically calculated. Click here to learn more...
Step & Skip Payments
LeaseTeam's portfolio management software allows users to easily initiate Step and/or Skip Payments. A step payment allows the customer to pay higher amounts at the beginning of the contract period and lower payments later, or vice versa. A skip payment lets a client choose to skip certain payments altogether in order to tailor payments to their customers' cash flow. Seasonal businesses sometimes prefer skip or add step payments. Offering step and skip payments to your customers is one more way you provide flexibility and customer service, and with LeaseTeam's system it's easy to do.
Collections Management
Our Collections Management tool, CollectionsPlus, will allow your collectors to call borrowers just once, regardless of how many contracts are delinquent. It will also give the user access to all the necessary records and track actions taken so that you can recognize which accounts need urgent attention. Click here to learn more...
Payment History Exports
LeaseTeam's portfolio management software provides a means to export your payment history data to share with different reporting agencies.
Click here to learn more about PayNet
Click here to learn more about D&B
Automated Insurance Billing
Premier Lease and Loan Services (PLLS) and American Lease Insurance (ALI) provide a service to lenders to automatically place insurance when borrowers do not provide proper proof of insurance.
Click here to learn more about PLLS
Click here to learn more about ALI
Automated Property Tax Billing
PTMS will completely automate the filing, assessment review, tax payment and record keeping of your property tax compliance process. This will allow you to reduce your cost of tax compliance while minimizing your property taxes.
Click here to learn more...
Payment Processing
LeaseTeam's system lets you easily post cash against open invoices using automated approaches such as balance forward or transaction type prioritization. Cash receipts are entered through a batch process, so multiple checks can be entered at the same time -- a great time saver! You can also save the batch and return to it later, to post, delete or revise. Each batch is user-specific, so multiple users can each work within their own batch. LeaseTeam offers these other tools to help you manage payments:
Automated Clearing House (ACH) is a network which exchanges funds and information among businesses and financial institutions electronically. Click here to learn more...
Delinquency Processing
Delinquency Processing allows you to assess delinquent charges and print delinquent notices to be sent to customers. To do so, you create delinquency codes that control how late fees should be assessed on items that are or were past due.
Invoice Write-Offs and Credit Memos
Invoice Write-Offs and Credit Memos are both means of crediting open invoices. Invoice Write-Offs allows you to write off an invoice to a bad debt expense account, closing down an open invoice. During contract termination, you have the additional functionality of being able to convert an open accrual basis invoice to cash basis, which is then left open for future action. Credit Memos allows you to reverse a transaction. This will reverse all or part of the invoice, open or paid, and create reversing ledger entries if necessary.