Lease Accounting
Software Add-Ons
Extend TURBO-Lease™ with add-ons for
payments, billing, asset tracking and
additional lease servicing capabilities.
Online Billing
Processing
Billing
Tracking
Payable
Interest Loans
OmniFund Online Billing
TURBO-Lease™ integrates with OmniFund for recurring lease payments by bank account or credit card. The integration supports automatically emailed invoices and an online payment portal for customers. As payments are received through OmniFund, they are imported into TURBO-Lease and applied to the appropriate leases.
ACH / EFT / PAP Processing
TURBO-Lease™ supports electronic payment processing by creating bank files for customer payments. For U.S. payments, the module creates NACHA-standard ACH files. For Canadian payments, TURBO-Lease supports 80-byte and 1464-byte EFT / PAP file formats used by most major Canadian banks.
Emailed Billing
The TURBO-Lease™ Emailed Billing add-on allows customer billing documents to be delivered by email as PDF attachments. TURBO-Lease sends traditional billing output to PDF-eXPLODE, which creates the PDF and sends it using your existing email application. This provides an efficient way to email invoices, billing statements and ACH payment notices to customers.
Asset Tracking
The TURBO-Lease™ Asset Tracking add-on provides detailed equipment tracking for multi-asset leases. Track each asset's description, model and serial number, vendor, cost, location, insurance information and UCC filing dates. Asset-specific reports include depreciation, asset location for property tax reporting and UCC expiration dates. When equipment is sold, TURBO-Lease can also calculate and report the resulting gain or loss.
Notes Payable
The TURBO-Lease™ Notes Payable add-on tracks financing provided by funding sources with a fixed term and interest rate. Enter the start date, term, principal and total payable to create a payment schedule, then assign one or more leases to the note. Reports provide note amortization, principal, interest and payable balances, along with the relationship between the note and its associated leases for cash flow comparison.
Simple Interest Loans
The TURBO-Lease™ Simple Interest Loans add-on provides servicing capabilities for simple interest loans. Payments are applied between principal and interest using a 365-day calendar, and the interest rate can be adjusted during the life of the loan. The module includes cash amortization and monthly interest income reports and also provides the ability to assess late charges.
