Polaris Business Solutions

AcuLoan 2022 R1 and R2 updates

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With every new release of Acumatica, comes a new release and updates to the integrated services. AcuLoan has a new release for 2022 R2 with several new interface updates, changes to the loan account profiles screen, and other user experience changes. Below is a brief outline of these updates.

As shown in the screenshot below there are several new features to AcuLoan. There is a new button to take users right to the amortization schedules for a loan account. Users now have the ability to prepare loan account statements with the click of a button. Additionally, under preferences, users can see the loan statement cycle linked to a specific loan account.

On the loan account profile screen, there have been several updates to the interface and user experience. On the statements tab, users can see the history of the statements for that specific loan. The statement tab is also a new feature. Along the top of the account profile screen, the amount for the loan that is in arrears is calculated and shows along the top without having to move to another screen. Also, the information from the amortization schedule is along the bottom left hand side of the loan account screen. On the mailing and printing tab, the same information as AR appears for users to see.

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These are just a few of the updates to the AcuLoan system for 2022 R2. There are other, more specific updates to the system that affect some reporting and inquiry requirements. If you think these updates would be beneficial while managing your loan accounts, please contact Polaris Business Solutions at aculoan@polaris-business.com.

What is Velixo

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Sometimes you need excel to do more and to work more seamlessly with your ERP. Velixo might be the integration you never knew you needed. We worked with our in house Velixo champion, Liyi, to get you the breakdown of some questions you might have:

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AcuLoan 2022 R1 Amortization Table Updates

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2022 R1 Feature Updates to Amortization Tables
 

Like Acumatica, AcuLoan has released a new update this year with a new set of features that have upgraded the system. The release of 2022 R1 has made changes to the amortization table. Before the updates to 2022 R1, there were only two ways to calculate using the amortization table. Those were standard and non-standard ways. With the update, see below for examples of how the amortization tables can now to calculated:
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Users of AcuLoan

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AcuLoan is a complete loan management and information software program designed to work fully within the Acumatica platform. The all-in-one loan management tool has several components that make it a great fit for several different types of loans and companies.  [...]

Why use LeaseQuery as an Integration?

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LeaseQuery integrates with several Cloud ERP systems as it is one of the best-certified lease accounting vendors. For Acumatica, the platform creates a smooth transition between the general ledger and the accounting software.

Below are some more benefits of integration of LeaseQuery to a Cloud ERP system:

  • Automate journal entries to the general ledger
  • Automate accounts payable processes for leased assets
  • Maximize a user’s time spent in their ERP, improving user experience and efficiency
  • Eliminate human error by using the integration to post journal entries
  • Push lease accounting data into ERP to ease the lease accounting transition and simplify the long-term management of a business’ leased asset portfolio
  • Streamline workflow to create time for additional projects

If you think your business could benefit from the LeaseQuery Integration, please contact Polaris Business Solutions; infor@polaris-business.com.

Simplify Complex Accounting with LeaseQuery

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LeaseQuery is an industry leading accounting software that is known to simplify the complexities of lease accounting. Thousands of organizations use this software for their lease accounting processes and LeaseQuery has become the number one rated cloud-based, CPA-approved solution. This integration allows users to minimize risk, increase efficiency, and discover critical financial insights across your organization.

See below for some of the major benefits of the LeaseQuery software:

  • Faster month-end and year-end close process
  • SOC Report and AUP Engagement issued by a Big 4 public accounting firm
  • Savings and insights from your lease contracts
  • Critical date reminders
  • Accurate AP reports
  • Central repository with easy document retrieval
  • Journal entries available with one click
  • Consolidated disclosure and compliance reports
  • Audit trail and lease change reporting
  • Role-based access

Loan Management Preferences in AcuLoan

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The AcuLoan system has several different Loan Management Preferences that are set up during the implementation phase. These preferences allow for a more custom system. Users can see numbering settings, write-off parameters, collection information, loan preferences, and taxation of the preferences screen from the AcuLoan dashboard.

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Loan Book Dashboard Overview

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Like Acumatica, AcuLoan has its own dashboard that can be configured to best fit your needs. This dashboard is configured and designed the same as any other dashboard in Acumatica using the design feature along the top right-hand side of the screen (you can see this in the screenshot above). The AcuLoan dashboard is called the Loan Book Overview.

In the photo below, users will see what the Loan Book Overview dashboard looks like and what tiles are and graphs are available to configure.

On the Loan Book Overview Dashboard, there are several configurable tiles. These help users to see an overview of their loans and accounts in AcuLoan. In this specific dashboard view you can see several things:
• Total Book Value
• Advanced Payments Disbursed
• Receipts Payments Received
• Different Trends – deal size and capitalized interest
• Actual vs. Budget – Income
• View of Certain Loans

There are several other items that can be included on a dashboard for AcuLoan. These tiles and graphs have many customization options. The colors can be changed as well as the thresholds which prompt the tile to “alert.” Dashboards in the AcuLoan program from Acumatica are a great way to get an overview of what is happening in the system. These dashboards can be configured one time for multiple users to see.

If you think you could use a dashboard like this for your loan data, please contact Polaris Business Solutions; info@polaris-business.com.

LeaseQuery Makes Your Life Easier

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At Polaris Business Solutions, we strive to work with the best products available for our customers. As part of this initiative, we have entered into a new partnership with a market leader for lease accounting, LeaseQuery. We know that deadlines for the new lease accounting standards are changing quickly! LeaseQuery’s main mission is to simplify lease accounting complexities and break down the accounting process for its users.

Adopting the new rules while staying within certain standards can take a lot of time. Using a lease accounting software designed for managing the lease process can save time and resources.

If you think LeaseQuery is a product your business is interested in, please contact Polaris Business Solutions; info@polaris-business.com

Loan Classes and Reporting Groups | AcuLoan

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AcuLoan has the ability to create loan classes and report groups. These two categories will allow users to organize the loans and assist with reports. Below is a brief overview of both loan classes and reporting groups.

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