The LeaseWave® lease accounting software system allows users to maintain different receivable types for each lease. The primary income accrued from lease payments can be blended with other types of user-defined, non-lease income. To facilitate meaningful analysis, non-lease income is amortized both independently and in conjunction with primary income. IDC and Residual Income schedules are also calculated automatically. The LeaseWave® lease accounting software system allows for maintenance of multiple IDC buckets (six is standard, but can also be expanded as needed). Furthermore, IDC calculations can be driven by user-defined formulas (such as business-rules driven commission rates that need to be treated as IDC).
The LeaseWave® lease accounting software system complements its income amortization schedules with yield rates calculated to the 0.0000th degree of accuracy. A separate yield rate is calculated for each one of the different receivable types, including non-lease income.
A special mention must be made here for non-lease income amortization. Non-lease income arises primarily from non-finance activities such as service charges and maintenance fees. The LeaseWave® leasing system is flexible enough to allow for non-lease income to be updated during or after lease entry. An independent profitability / yield analysis can be conducted immediately thereafter.
Any type of report (including graphical) can be obtained to track and view desired information; using the leasing system’s seamless integration with Crystal Reports, users can build any type of report required, if not already available with the system.