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We are happy to announce that our latest major release of Nakisa Lease Administration “2022.R2” is now available to our clients globally starting Dec 15, 2022. In this release, we focused more on feedbacks received from our Fortune 500 clients to provide them with tools and functionalities that can ease their month-end activities by performing more tasks in bulk or automating some of their lease accounting operations. Here is what you need to know regarding the Nakisa Lease Administration 2022.R2 release:

Mass Casualty

This was a highly requested feature by a lot of our clients who would like to perform such a task in bulk due to major changes in their leases. As an example, such mass change requirements were something that occurred during covid 19 period.

Activation group-level operation to perform a Casualty Event in mass via Batch Management functionality. The users have the flexibility to perform mass casualty for multiple activation groups as follows:

  1. With a default casualty amount that the system can generate and execute for each accounting standard present (or)
  2. Choose to input a casualty amount that is applicable for various contracts by exporting the excel, modifying the values, and importing the excel back into the system with the data relevant for each contract going through the casualty

Note: This feature is available for master and power users only. Please consult the latest user/admin guide for more information or talk to your IT team.

Nakisa Lease Administration 2021.R2: Carryover Impairment Reserve Balances and Additional Business Process Automations
New Create Batch menu with Mass Casualty & Mass Contract Change options

Mass Contract Change

For Active Contracts, Change CPI Type from “None to Local/Global” or vice versa in bulk via Batch Management functionality. The users can now do the following like in the manual process:

  1. For CPI Local set the base index value
  2. For CPI Global, choose the reference date and the index value based on the company code
  3. Change the CPI type from Local/Global to None, if the contracts will not be going through the indexation process

We are also working on bringing other action types to the Mass Contract Change in the later versions of the NLA solution.

Note: This feature is available for master and power users only. Please consult the latest user/admin guide for more information.

Nakisa Lease Administration 2021.R2: Carryover Impairment Reserve Balances and Additional Business Process Automations
New Create Batch menu with Mass Contract Change & Mass Casualty options

Period Lock on Effective/Activation Date:

Prevent events from taking place in the future with a manager setting to minimize potential risks of user-mistakes.

  1. Choose the number of calendar months to be open for activation & events
  2. The calendar months would be restricted per the setting for the following fields:
    1. Activation Date field at inception
    2. Effective date field while sending an event to assessment, wherein the effective date and payments dates can be different for the events
    3. Payment date field for events wherein the payment date and effective date are the same
Nakisa Lease Administration 2021.R2: Carryover Impairment Reserve Balances and Additional Business Process Automations
Manager setting for “Period Lock on Effective/Activation Date”
Nakisa Lease Administration 2021.R2: Carryover Impairment Reserve Balances and Additional Business Process Automations
Activation date field only shows open months
Nakisa Lease Administration 2021.R2: Carryover Impairment Reserve Balances and Additional Business Process Automations
Effective date field only shows open months

Bulk Create/Delete IBR or Indexation:

This feature is useful for global companies that leverage the same IBR or indexations values across many company codes, however creating them one at a time is not efficient. We now enable our users to create such items at a higher entity level through a new item under the Manager Page menu.

Bulk Create IBR/Indexation:

  1. Choose to attach at Lease Area or Business Unit level, which would consequently include all company Codes within the level chosen
  2. The tool would auto-create the entries for the chosen filters in the master data config table for IBR or indexation

Bulk Delete IBR/Indexation:

  1. Delete in bulk any erroneously created IBR
  2. Delete in bulk any erroneously created indexation entries that has not been used in the contracts
  3. Inputting the ID in the form and running the job would auto-delete the IBR or indexation entries from the master data config table

Note: This feature is available for users who have access to Manager page of NLA. Please consult your IT team for more information on such access.

Nakisa Lease Administration 2021.R2: Carryover Impairment Reserve Balances and Additional Business Process Automations
New item under Manager page to perform all bulk create/delete activities
Nakisa Lease Administration 2021.R2: Carryover Impairment Reserve Balances and Additional Business Process Automations
Bulk Create IBR page
Nakisa Lease Administration 2021.R2: Carryover Impairment Reserve Balances and Additional Business Process Automations
Bulk Create Indexation page
Nakisa Lease Administration 2021.R2: Carryover Impairment Reserve Balances and Additional Business Process Automations
Bulk delete IBR/Indexation
Nakisa Lease Administration 2021.R2: Carryover Impairment Reserve Balances and Additional Business Process Automations
IBR or Indexation table in Master Data config

Download Master Data filters:

Download Master Data page that can be available via the admin setting which allows downloading a set of tables at a time, we have introduced a new set of filters to the following tables:

  1. Cost Center
  2. Profit Center
  3. IBR
  4. Indexation

You can also filter and download the entries for the above master data config tables only for a subset of data such as:

  1. Lease Area
  2. Business Unit
  3. Company code
  4. A valid From & To range that could fetch entries that are valid on the chosen date
Nakisa Lease Administration 2021.R2: Carryover Impairment Reserve Balances and Additional Business Process Automations
New Download Master Data page

Note: Please reach out to your dedicated Nakisa Account Manager or our support team to request enabling this functionality.

Please visit our Nakisa Customer portal to access the release notes for this version.

To learn more about any of the above new features, keep an eye on our Nakisa Youtube page for more training videos.

Please reach out to your dedicated Nakisa Account Manager if you would like to discover the features of the latest NLA version and how it can help your organization specifically or to request a tailor-made training for your organization.

Learn more about Nakisa Lease Administration and request a demo.

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