For this Trail Mix installment, we are sharing a number of knowledge tidbits for users of Solifi’s Lease and Loan Portfolio Management Software (formerly InfoLease).

  • The software allows users to add an asset to a contract mid-stream by using the Asset Split functionality and creating a $0 asset. With this newly added feature, you can perform an asset split on an asset that already has an equipment cost of $0. This enables you to “add” an asset to a contract and then modify/restructure the $0 asset with the asset information/cost. This restructures all flows through the change journals.
  • Users can change the Lease Type of a contract via the Assumption process, creating all the necessary journal entries associated with the Lease Type change.
  • To place funds into Unapplied Suspense while entering an override payment, select Overpay and then, within Overpay, select Unapplied Suspense.
  • Within the software, you can now designate the type of payments users can enter/process (Standard/Override/Correcting Payments/Returns).
  • Standard Lockbox now tracks the lockbox filename on the payment transactions/batches/deposits. There is also new functionality to display the lockbox file name on the Payment Summary tab to identify what batches are associated with the lockbox file.
  • To track outside information, you can add User-Defined Tables within the software program. One example: create a User-Defined Table to track the source and/or currency of Lockbox files (files coming from a different bank, portal or process) or to track data/tables you may use with other applications.
  • You can now create user-defined fields within the software tables to track additional information such as email address for personnel or insurance agents.
  • Instead of seeing “P_####” display in the Hold file, users can view the name of the report by activating a System Parameter.
  • The software now zeros out rental associated with a full disposition.

If you are interested in any of these tidbits and/or would like assistance implementing them, please contact us!

 
Written by

Tamarack

Tamarack Technology, Inc. is a leading provider of independent software, operational, and technology services supporting the equipment finance industry for more than 20 years.

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