LeaseTeam Product Functionality -- Po

By: Leaseteam  09-12-2011
Keywords: management software, portfolio management, General Ledger

Portfolio Management

The Portfolio Management area of LeaseTeam's

back-end system provides equipment finance companies with a flexible, feature-rich accounting and asset management software solution. This successful, unique design was developed to effectively manage the unique complexities that arise from various types of contracts, such as loans, TRAC leases and true leases.

The system is highly configurable,

allowing it to work as well for asset-based equipment lenders as it does for small-ticket leasing companies.

Here are just a few of the areas this software application handles with ease:

In today’s competitive environment, more and more equipment finance companies are providing their customers with loans as well as leases. To become more diversified and profitable, successful finance companies need to be able to offer both — and to be more efficient, they need a single software solution that can accurately handle both leases and loans. If you’re still processing loans using conditional sales lease accounting, it’s time for you to consider a better way: LeaseTeam’s Loan Management tool.

LeaseTeam’s variable rate tool increases the variety of contracts lenders can provide to their customers by giving them the ability to tie those contracts to an indexed rate such as LIBOR. Simply update the index rate on the contract, and the software automatically uses the new rate to calculate a new payment amount that will amortize the remaining balance over the remaining payments.

This application allows users to easily keep track of the many details of the equipment, including depreciation and taxes.

The Equipment Template tool allows users ease of equipment entry through the use of standard codes for specific types of equipment, as well as a simple process for equipment entry.

After entering the contract information in the front-end system, you can quickly upload it to the back-end, then book the business, which creates a journal entry and starts the portfolio management process.

The portfolio management application allows you to capitalize IDC (initial direct

costs -- for example, broker fees). The capitalized IDC is then amortized over the life of the contract using either a straight line or implicit rate methodology.

Contract Amortization

Upon booking a contract, an amortization schedule is created which will be the basis for future earnings. From that point forward, earnings are recognized on a month-by-month basis.

Gain flexibility with the contract rewrite function by changing any of the economic characteristics of a contract. All general ledger entries are made and the amortization schedule is "rewritten" on the effective date of the rewrite. In this way, mid-stream contract changes can be entered and accounted for without having to worry about distorting earnings recognized to date.

LeaseTeam’s system allows you to easily create a renewal schedule that begins invoicing when the contracts have reached maturity. This allows the lender to continue billing the full amount of the regular payments indefinitely. The payments made beyond contract maturity can be set up to be recognized as income or serve to reduce a residual position.

Contract Letters

Our letter functionality allows you to create and customize letters in Microsoft Word via a convenient database toolbar. Letters can be printed or sent by e-mail as a Word attachment, and customized letters can be saved as templates for reuse.

Contract Payoff

A contract payoff is simply a worksheet which allows the lender to determine how much to sell equipment for in case of a request for early payoff. The user can set up a formula to use in order to calculate the desired return on the payoff. If the borrower agrees to the payoff quote, the software can also handle the equipment sale.

Keywords: Equipment Finance, General Ledger, Loan Management, management software, portfolio management,

Other products and services from Leaseteam


Portfolio Servicing

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. LeaseTeam's system also allows you to combine secondary charges, such as insurance or maintenance, in with primary charges for invoice presentation purposes.


Booking Preparation

LeaseTeam’s Front-End Automation Resource Manager software development kit is an integration tool which facilitates automation of the entire data transfer process. UCC filing is, of course, extremely important because it represents public notification that equipment owned by the lender is in use by the borrower.


Contract and Portfolio Finance

Find out how LeaseTeam can help your company streamline processes, reduce costs and improve performance during a product demo by one of our highly trained regional sales managers. That's why we make sure the lines of communication are always open between LeaseTeam and our customers. If you have a question about a LeaseTeam product or service. At LeaseTeam, our clients are our bottom line.


LeaseTeam, Inc. Services

Now you may wish to consider whether you would prefer to use the software at your site, or on demand, through application hosting. To use LeaseTeam software to handle your company's equipment leasing functions. Each way has its own unique advantages and benefits.


Document Management

With Documentum ApplicationXtender, you quickly access information from a universal desktop interface, enabling greater control over business documents, enhancing the quality of decisions, increasing customer service levels and improving employee productivity.


LeaseTeam Solutions

Such as feature-rich software that seamlessly handles the entire lifecycle of your lease and loan transactions. At LeaseTeam, we provide your people with powerful tools that increase productivity across your enterprise. LeaseTeam’s solutions give equipment finance companies of all sizes a distinct competitive edge.