Sage Intacct Lease Accounting Release Notes
Lease Accounting Release V1.5
Lease Accounting Release V1.4
March 26, 2025 | Product: Sage Intacct Lease Accounting
DESCRIPTION
The V1.4 release includes the following new features and improvements. Application implementation and setup procedures remain unchanged.
RELEASE NOTES
New features:
Support for Custom Fields
Custom fields can now be added to the Lease Accounting objects through Platform Service. They will automatically appear on the required New, Edit and View pages.
Support for User-Defined Dimensions
User-Defined Dimensions can now be associated with the Lease Group object. This will result in User-Defined Dimensions showing up automatically in the Lease Group New, Edit and View screens. Assigned User-Defined Dimensions will populate all transactions generated by Lease Accounting.
Improvements:
Various performance and usability improvements have been made to Lease Accounting:
Drop-down lists of non-Lease Accounting data now populate faster. Should a drop-down contain more than 100 records, it will present itself as a Search.
Background tasks to post AP Bills and GL Journals have been optimized to reduce runtime.
The View Lease screen’s loading steps have been sequenced to improve usability. The lists for Schedules now have the date columns frozen and hide canceled records by default.
Transaction Date management now allows users to set the AP Bill and GL Posting dates of AP Bills generated to the same date as the Payment Schedule.
The GL Exchange Rate Date for Lease Accounting transactions can now be set to the Lease Start Date for all subsequent transactions involving the lease. This is useful where financials are consolidated into other currencies.
GL Journal Descriptions have been shortened for clarity.
A Process and Error log now logs the results of all background tasks, e.g. the posting of month-end GL Journals.
Note: this feature has not been automatically applied to all customers.
KNOWN ISSUES
N/A
APPLIES TO
Apart from the Process and Error log enablement, the entire release was automatically applied to all Lease Accounting customers. The Process and Error log change will be released to customers on an ongoing basis.
PREREQUISITES AND DEPENDENCIES
Sage Intacct Lease Accounting is licensed for your Intacct Company.
ACTIONS
The improvements and bug fixes included in this update are automatically applied to all Lease Accounting customers’ Intacct Companies, so no further action is necessary. New Lease Accounting installations and upgrades must use the setup files available in the Lease Accounting Help Center.
Lease Accounting Release V1.3
September 26, 2024 | Product: Sage Intacct Lease Accounting
DESCRIPTION
The V1.3 release includes the following new features and improvements. Application implementation and setup procedures remain unchanged.
New Features
Multi-Tax for Lease Accounting
The V1.3 release has introduced a new Tax section in the Lease Creation screen and will be visible if the Sage Company is subscribed to the Multi-Tax Module. From this section, a user can now choose the Tax Solution, and include Tax Details on a lease. These taxes will be included in the Lease Payment Schedule and AP Bills generated by the Lease Accounting Module. Additionally, a user will be able to specify if a Tax Detail should be considered when the Lease Accounting module performs the Lease Liability valuation and generates the Lease and RoU Schedules. Along with this new feature, new fields have been added to the Lease screens and Lease schedules. Please refer to the V1.3 user guide for more details on the new fields and steps to use the Tax feature.
Improvements
Export Lease Schedules to CSV
Improvements have been made to the Schedule export functionality of the Lease Accounting Module. A user can now export a detailed or summary view of the lease schedules. To access this, a user can navigate to the Lease Accounting Module > View a Lease > and go to any of the lease schedules. On the top right of the schedules, two new buttons will be available: Export Detail and Export Summary. Both buttons will download a CSV of the selected Schedule within the browser.'
Tooltips and Warning Messaging
Improvements have been made to the tooltips and warning messaging around the module to better assist with the user experience. These tooltips will continue to be maintained and improved as new features are added.
KNOWN ISSUES
N/A
APPLIES TO
The entire release was automatically applied to all Lease Accounting customers.
PREREQUISITES AND DEPENDENCIES
Sage Intacct Lease Accounting is licensed for your Intacct Company.
ACTIONS
The improvements and bug fixes included in this update are automatically applied to all Lease Accounting customers’ Intacct Companies, so no further action is necessary. New Lease Accounting installations and upgrades must use the setup files available in the Lease Accounting Help Center.
Lease Accounting Release V1.2
April 25, 2024 | Product: Sage Intacct Lease Accounting
DESCRIPTION
The V1.2 release includes the following new features and improvements. Application implementation and setup procedures remain unchanged.
New Features
Ability to Enable/Disable Creation of GL Batch When Putting Lease in Service
A new setting, "Suppress GL Journal Creation from Lease functions" was added which allows a user to enable or disable the creation of GL Batches when putting a lease in service. The default setting for this is disabled.
Date Fields and New Reports
The Day, Month, and Year columns have been added to the Lease and Asset Schedules within Lease Accounting. In addition to these new columns, 5 new reports have been added to the lease accounting Module:
Lease Payment Report: This report shows the Lease Payments received for leases.
Depreciation Expense Report: This report shows the Accumulated Depreciation for a specified period and links to the related entries.
Interest Expense Report: This report shows the accrued interest for a period and links to the related entries.
Liability Balance Report: This report provides the liability balance for a given period, as well as any related entries.
RoU Asset Balance: This report provides the RoU Asset balance for a given period, as well as any related entries.
Mass update lease status
A new Mass Update feature has been added to the Generate Payment Schedules, Generate Lease & RoU Schedules, and Put Leases into Service pages. Users can now update the status of multiple leases at the same time. This makes it easier to move multiple leases from Created to In Service, especially during the initial implementation phase.
Improvements
Streamlined provisioning
Provisioning Lease Accounting just got easier with the addition of the Validate Gateway button. When a user selects this button, we run a validation to test the XML Gateway User Credentials and the existence of the Serrera and AJAX sender IDs. This confirms that the XML user has the proper permissions and credentials to run Lease Accounting, which prevents users from receiving any provisioning errors.
Renaming dimensions
If a user renames any of the standard or user-defined dimensions in Sage Intacct, the new names will now be reflected on the Lease Group pages.
Note: This does not apply to the Vendor dimension. If the Vendor dimension is renamed, it will still be called “Vendor” in Lease Accounting.
Add the Scheduled Date Fields
Added the Day, Month, and Year columns to the schedules. This allows for the date fields to be utilized in custom reports.
Mass generate Schedules
Added a "Mass Update" function to Generate Payment Schedules, Generate Lease & RoU Schedules, and Put Leases into Service.
KNOWN ISSUES
N/A
APPLIES TO
The entire release was automatically applied to all Lease Accounting customers.
PREREQUISITES AND DEPENDENCIES
Sage Intacct Lease Accounting is licensed for your Intacct Company.
ACTIONS
The improvements and bug fixes included in this update are automatically applied to all Lease Accounting customers’ Intacct Companies, so no further action is necessary. New Lease Accounting installations and upgrades must use the setup files available in the Lease Accounting Help Center.
Lease Accounting Release V1.1
October 11, 2023 | Product: Sage Intacct Lease Accounting
DESCRIPTION
The V1.1 release includes the following new features and improvements. Application implementation and setup procedures remain unchanged.
New Features
Allow Attachments to be added in the Lease module
Users can now add attachments when creating or editing Leases, Lease Groups, Lease Classes, and RoU Asset Depreciation Methods.
Lease Accounting Audit Log
An audit log has been added to Lease Accounting. The log is located within the Lease Accounting Configuration page.
Estimated Useful Life on Lease Record
A new field has been added to a lease that allows a user to enter an Estimated Useful Life specific to that lease. This field will override the default Useful life from the Lease Class.
Add Payment Frequency “Import” During Lease Creation
When Creating a Lease, allow a Payment Frequency of "Import" as a value. When a Lease with an "Import" Payment Frequency is Saved, the Total Lease Payment Value is not required and is set to 0.00. The Lease is created in the status “Payment Schedules Generated” which allows a user to import Payment Schedules.
Improvements
Allow Save or Import of Lease records with Custom Payment Frequency with no Payment Schedule Entries
When creating or importing Lease records with the intent of importing its Payment Schedules, the process has been improved to allow a user to save Lease records with Custom Payment Frequency and put the lease in Payment Schedules Created status without any related Payment Schedule Entries.
Add the ability to add Lease Classes and Lease Groups from within a Lease
When editing a lease, a user can now add a new Lease Class or Lease Group from the Lease Class and Lease Group drop-down field.
GL Batch record number vs GL Batch transaction number
Update the display value of GL Batch in the list views to be the GL Batch Transaction Number instead of the Record Number.
Ability to Export to CSV from Agile List views
Added the ability to export the Payment, Lease, and RoU Asset Schedules to CSV from the View Lease screen.
KNOWN ISSUES
N/A
APPLIES TO
The entire release was automatically applied to all Lease Accounting customers.
PREREQUISITES AND DEPENDENCIES
Sage Intacct Lease Accounting is licensed for your Intacct Company.
ACTIONS
The improvements and bug fixes included in this update are automatically applied to all Lease Accounting customers’ Intacct Companies, so no further action is necessary. New Lease Accounting installations and upgrades must use the setup files available in the Lease Accounting Help Center.