This month’s Trail Mix was submitted by the Solifi customer support team.
Solifi Portfolio Management – ILS provides flexible capabilities when disposing of inventory. Whether you need to perform complete or partial contracts, ILS provides options.
Based on customer feedback, the following new features have been added to further enhance disposition and inventory processing:
Automatically waive outstanding rental charges during a complete disposition or a complete inventory processing (instead of leaving unpaid rental charges with a balance due). In addition:
- Changed the general ledger entries for the waived rental charges to be included in the Accrual journals instead of the Gain/Loss journals.
- Added the Waive Charges After Disposition/Inventory utility to waive the unpaid rental charges for completely disposed or inventoried contracts that were disposed or inventoried prior to activating this feature. To run the utility, you must add a user-defined program and then add the user-defined program to a user-defined navigation item
Go to
Contract Maintenance > Charges tab (before a complete disposition)
Go to
Contract Maintenance > Charges tab (after a complete disposition)
Allow an asset to move into a pre-inventory status while you wait for the customer to return the asset (before fully inventorying the asset). When you process a pre-inventory, Solifi Portfolio Management clears the net investment general ledger balances, stops income recognition, stops creating charges, and starts recognizing book depreciation for the asset.
If you are interested in any of these tidbits and/or would like assistance implementing them, please contact the Solifi customer service team at https://solifi.atlassian.net/servicedesk/customer/