Asset Management
LeaseWave is a true asset-based leasing system. A dedicated module handles the entire asset life-cycle including build, purchase, on and off-lease management, maintenance and remarketing. The module adapts to each business model’s specific needs: fields and table-driven information (such as year/make/model and components) can be added or removed as needed. Other attributes such as unlimited meters (cost-per-image), odometers (miles, hours), preventative maintenance schedules, and locations can be associated with each asset. Assets can be inter-related in “parent-child” and “family/group” relationships for ease of operations. In short, unlike other leasing software, asset management in LeaseWave is adapted to exactly mimic reality – no matter how simple or complex this may be.
Download vendor invoices electronically into leasing system to automatically create assets
Clone individual or groups of assets from existing assets
Change unique information such as serial numbers through speed-friendly data entry
Build assets progressively through staggered progress / installment payments
Assign an unlimited number of addresses against each asset in leasing system
Tax address will drive sales/use tax
Other addresses like registration, titling, etc. will drive related modules
Define tables to drive year, make, model information or integrate with standard database
Track each line item on an invoice individually for payment
Categorize assets into user-defined types, with additional defaults driven by type
Add user-defined fields (UDF) to track additional information
UDFs have all the power and functionality as standard fields
UDFs can be used as filters for reporting
User defined reports can include UDFs
Exclude fields that are not relevant so that they don’t appear on screens within the leasing system
Define any number of statuses and sub statuses that an asset can be in
Use leasing system business rules to drive automatic status, sub-status selection
Record a comprehensive asset snapshot on each status/sub-status change
Track location history with full detail within the leasing system, each time asset changes location
Automatically ensure that taxable locations are valid jurisdictions
Associate each location change with an effective date
Effective dates can be prospective or retroactive
All sales / property tax ramifications are automatically handled
Allow customers to request location changes online through lessee portal
Relate assets in parent–child/children relationships for operational efficiencies
Break up relationships as needed (as during partial terminations)
Group assets (independent of parent/child relationships) for operational efficiencies
Clone entire groups / families of assets
Use business rules around the formation and break up of families / groups
Define a quantity against an asset if it represents more than one, and split when needed
Leverage capabilities as an asset-based leasing system to track equipment lifecycle independent of underlying lease(s)
Maintain assets in inventory and lease, re-lease and remarket them as needed
Refurbish, mark-up/down assets in inventory prior to re-leasing or remarketing
Unlike in other leasing software, define start/end dates for depreciation on off-lease assets