LeaseComplete

Lease accounting, loan accounting, asset management, maintenance/service tracking, and collection tracking software system.

LeaseComplete© is a comprehensive lease accounting and asset management solution that is widely recognized as the premier custom solution for both equipment and vehicle lease portfolios. Our value-added approach to system design provides features that allow you to add services for your customers that both garner repeat business and provide additional revenue sources for your company. In the sections that follow we have highlighted some only some of the features available in the System. For more information, please visit our website where you can take a virtual tour of the System and schedule your own private web-based demonstration. www.dominionls.com

LeaseComplete supports a variety of lease and loan types, including:

- Direct Finance
- Conditional Sale
- Operating / True Lease
- Interim Funding
- Leverage
- Brokered / Indirect
- Balloon Notes
- Amortized Term Loans
- Interest-only Loans
- Principal-plus Loans

Facilities, commitments, and credit lines allow users to establish lending limits and/or group debt for a customer based on lines of business. If borrowing limits are established, the system will enforce the edits at the time of lease booking. Revolving credit line support allows repayment to free room under the borrowing cap for new lease/loan activity.

A full range of invoice schedules including daily, weekly, bi-weekly, semi-monthly, monthly, quarterly, semi-annual, and annual are provided. The System also supports seasonal payments, skips, and step/tier payment structures, as well as variable rates with custom spreads, ceilings, floors, and payment change schedules.

A complete financial history is maintained for all leases – even re-booked deals where the same lease number is used. For all financial activity, a secure, one-step reversal processing is supported thereby simplifying the process of NSF and other payment reversal issues. A complete audit trail (footprint) is maintained throughout the System which includes a user ID and timestamp record of all changes.

Full support for master lease agreements with many lease-level defaults allows individual leases to be booked with minimal input. A single customer can have an unlimited number of master lease agreements. Each master lease may have an unlimited number of lease contracts booked under it. Further, each lease may have an unlimited number of assets booked under it. This structure allows even the most complicated deals to be supported by the LeaseComplete System. For less complicated deals, the optional master lease can simply be eliminated from the setup to create a simple customer, lease, asset deal structure.

LeaseComplete offers full support for interim lease accounting, including simple interest accruals, period payments, and capitalization of amounts at closing. Multiple draws can be tracked against an interim lease, each draw carrying different interest rates and distinct interest accruals. This allows payoff of a single draw to be tracked separately if necessary. The accrued interest may be billed periodically or held until closing, at which time it can be paid or capitalized. A system wizard guides you through the entire process of converting an interim lease to an active lease or loan, or paying off the interim lease completely and thereby ending the financing at this point.

One of the most difficult jobs is "unwinding" a lease at termination, due in large part to the number of decisions that have to be made. Does the lease carry unpaid late fees? How many miscellaneous fees are remaining unpaid? Do we have placed insurance? What about preventive maintenance or other add-ons? Over-mileage fees? Termination, purchase, and disposition fees? The list goes on and on. LeaseComplete simplifies the process by bringing together all due amounts on a single screen and allowing the entry of a single entry to clear them all.

The System supports all types of terminations, including: taxable and non-taxable purchase, turn-in, insurance settlement, repossession, and charge-off. A System Wizard guides you through the decisions to ensure an accurate termination is quoted. All due amounts are summarized on a single screen, with a breakdown of the calculations, charges, and current balances shown on subsequent pages. Termination fees can be computed based on the type of termination and whether it is an early or full-term termination. Late fees, termination fees, or other charges may be waived immediately, with all waivers tracked for reporting purposes. The System automatically applies deposits toward the payoff balance, or the user can choose to hold the deposit for a future rebate. (Example, if the Asset is returned sight-unseen, the deposit may be held until a reconditioning estimate can be prepared.) The System can even track and bill deficiency balances for any amounts left unpaid after the termination is posted.

All termination quotes are logged and include a record of all decisions made which affect the quoted amount (including fees waived, deposits held, and the actual lease balances at the time the quote was issued), the date/time stamp the quote was given, and the User ID of the operator who created the quote. All of this provides an excellent reference point for future inquiries and research.

LeaseComplete boasts integrated inventory management and preventive maintenance components, making it the ideal solution for tracking, maintaining, and remarketing your equipment inventory.

The System has features that allow it to track all types of assets in various stages of life, including both owned inventory as well as third-party inventory, such as vendor or other supply chain stock. Additionally the System is capable of tracking third-party owned assets for the purposes of service and preventive maintenance tracking, thus opening up new revenue streams to the lessor outside of pure asset finance.

The creation of specifications for commonly booked assets not only avoids unnecessary/duplicate data entry at the time of lease booking, but is part of a wider initiative in the system to eliminate entry errors. Hand-in-hand with this is the ability to assign multiple assets to a single location, with changes to that single location address automatically flowing to all assets assigned to that location. Therefore, terminals, warehouses, or satellite offices can be tracked for your customers in a centralized manner within the System, thereby eliminating the likelihood that a single asset location change will be missed.

Asset-level gain/loss is computed and stored cumulatively over the life of an asset, thus providing an accurate picture of your position at any given time – even over periods of re-leasing, write-downs, and asset modifications. A complete history of the asset is maintained over the course of its life, including previous owners, locations, and lease contracts. Asset usage is tracked by owner and overuse fees charged automatically as required.

The System also computes book, tax (GDS), and alternative minimum tax (ADS) depreciation for qualifying assets. All standard depreciation methods are supported – straight-line, MACRS, ACRS, declining-balance, sum of years digits, etc. In addition, user-defined depreciation schedules may be created as necessary for custom/specialized accounting needs.

Property taxes can be tracked at the asset level (where renditions are filed) yet billed and paid at the lease or customer level – as a group – as required. The System also supports a PTMS interface for property tax processing.

A custom AR feature at the Asset level allows the lessor to invoice the customer for the purchase of an asset prior to lease termination. Multiple investors can be invoiced at once, with the sum of the invoices being the total buyout of the lease contract. When the payment is received it can be held on deposit until the lease terminates normally, or applied immediately toward the early termination of the lease. The AR can also include sales tax, property tax, and pass-thru amounts.

For titled assets, custom scripts can be created to automatically create work queues of pending title expirations and monitor the process of collecting new title/registration information. For non-titled assets, similar work queues can be created for tracking UCC filings and expirations/renewals, including filing dates, numbers, and locations. The System can also queue and track insurance follow-ups, maintenance schedules, and any other asset-related work lists required by your leasing operation.

Offering a maintenance or asset service product to your customers provides a service for both of you – your customer is able to service the leased asset with less hassle and fixed costs, and you have a better maintained asset at the end of the lease term. Also, the ability to collect the service fee on each maintenance contract or service generates additional revenue for your company.

The System tracks an unlimited number of maintenance plans per asset, each plan capable of tracking an unlimited number of services over the plan life. On each plan, the service deposit balance is tracked separate from the service fee (income). Sales tax can be added if the plan payment itself is taxable. If the asset is leased, the total is invoiced to the customer along with their lease payment; if the asset is not leased, the service plan payment can be invoiced on any schedule desired. Service schedules on each asset allow service reminders to be sent for upcoming or overdue services. The system also allows a pass-thru type maintenance plan where services are paid by the customer as they are recorded.

Each service is tracked in the system with both estimated and actual invoice amounts stored. The servicing vendor and payee vendor (which can be different) are also tracked for reporting and remittance purposes. When estimates are posted, the charge is recorded as “pending” against the plan record to provide the service manager a more accurate picture of funds available and upcoming service expenses. Established overdraw limits and rules allow for handling of excess services on a plan by plan basis.

LeaseComplete allows the tracking of multiple insurance policies per lease or asset, thereby allowing for split, supplemental, or placed coverage. A complete insurance agent database allows consolidated mailings and reporting of verification requests and expirations. Custom scripts allow electronic notification of upcoming insurance expirations. These work queues provide complete electronic tracking of expiring insurance, including the ability to isolate expired insurance and to prioritize work based on days until expiration, lease balance, and past history of the customer.

In addition to tracking insurance, LeaseComplete also supports Creditor Placed Insurance (CPI). Placed insurance may be billed upfront or over time, invoiced on a separate billing schedule, accrue interest on the unpaid premium balance, allow for full or partial rebates, and include the unpaid premium and interest on the comprehensive lease termination quote screen. CPI can also be used as an additional revenue stream for the lessor by offering the insurance as a value-added service to your customers. In this manner you are not only protecting your asset investment, but you are also generating additional revenue and providing a convenient service for your customers.

The days of collecting from past due reports, using Outlook or Act! to track lessees, and recording notes on a spreadsheet are gone forever! LeaseComplete provides a full collection tracking component which integrates seamlessly (you'll be amazed!) with the core accounting system. So whether you are a seasoned collections professional or a newbie, you will benefit immediately from this superior collecting tool.

The System supports an unlimited number of user-defined collection queues out of which an unlimited number of collectors may work. The collection criteria for each queue is completely script driven and user-defined, allowing you to select leases for collection based on any criteria you may require – not simply days past due. Flexible prioritization of queued tasks allows you to separately prioritize "repeat offenders" independently of the general collection pool if you so desire.

We realize that waiting for a delinquency to occur may be too late. That’s why the System allows a proactive approach by tracking a customer's legal status or flagging higher risk customers for quicker queuing and collection. These customers may be placed in separate collection queues for “special handling” by relationship managers based on criteria such as length of relationship with your company or outstanding balance.

Once in the collection queue, you may easily track all customer correspondence including promises made, kept, broken, and outstanding. One-click viewing of this information is provided from within the collection queue itself. The collection queue also provides one-click access to the lease, customer, and assets records. This prevents delays in looking up alternate phone numbers, payment history, etc.

Regardless of how often a lease is queued for collection, the collection history remains with that lease as long as it is kept on the System. This allows you to analyze customer patterns and tailor your collection approach accordingly.

Accounting for lease receivables is only a part of the job. One must also carefully track the payables - most notably those to investors, funding banks or other participants - in order to accurately determine the profitability of your lease portfolio. LeaseComplete's Note Payable module does just that!

The System is capable of storing an unlimited number of investors, funding sources, or participants, including statement address, physical location, and contact information for each. Under each investor, an unlimited number of notes payable may be established. The payables can be tracked at the detail lease or asset level, or at a more global level by funder note number (for larger credit lines, for instance).

Payables can be tracked as simple interest loans or capital leases, with various expensing and payment options for each. The loans may be fully amortized, balloon notes (for matched funding), interest-only or principal-only instruments, or principal-plus notes (to match the principal payout to the asset depreciation). The payables can be coded to automatically generate a payment to the investor on a predetermined schedule, thereby ensuring the note stays on amortization. These payments can either be interfaced via an accounts payable system or reported on existing system reports by investor with line items for each lease/asset affected.

The LeaseComplete Sales and Payment Quote module provides you with just the right tools to both track and close new business quickly. You can track an unlimited number of sales prospects by salesperson/officer, status, priority, and many other user-defined values. Access to name, address, and contact information for repeat customers is automatic, as well as the ability to enter the same information for that one-time deal. Easily transition a sales prospect from one representative to another - whether the shift is temporary due to absence or a permanent reassignment. Unlimited ticklers and comments provide tracking for all information in one central location. All changes made to a prospect record or the quotes given the prospect are automatically date/time and operator stamped for easy recall.

Quotes are logged side-by-side for easy comparison when working with your customer. You may target a specific payment amount for a customer via the convenient "target" option provided on the screen. The target payment is achieved by varying your choice of parameters on the payment quote, including rate, residual, and/or term.

When it is time to book the deal as a new lease, all data is automatically ported to the Lease Booking Screen with a single push of a button. The lease which is booked is linked to the Quote, and vice versa, for ease in reporting and commission tracking.

LeaseComplete supports an embedded Crystal Reports reporting engine which provides a powerful reporting interface. There are over 150 standard reports, including trial balances, past dues, tax, income, statements, and letters. Each report has multiple filter and sorting combinations to allow further customization at the time of report request. All reports are generated in real-time. You may preview reports online, send them directly to the printer of your choice, or email them to your customers and/or colleagues.

Reports can be exported to dozens of common file types including:

- Adobe Portable Document Format (PDF)
- Microsoft Word (DOC)
- Microsoft Excel (XLS)
- HTML and XML
- Rich Text Format (RTF)
- Many others

Report administration is done within the LeaseComplete System itself, via a control panel that allows quick changes to data filters, sorting options, and default values - even for the standard system reports! All standard reports are delivered "open source" and can be easily cloned to create new, custom reports for your leasing operation. The System documentation contains step-by-step instructions for report customization. Once created, your custom report can be added directly to the System, integrating with the standard reports seamlessly.

LeaseComplete provides full support for document and photographic imaging as well as external attachments of all kinds. For example, by attaching a lease agreement or asset photograph directly to the appropriate record in LeaseComplete, you can simplify record keeping and eliminate the need to pull paper files for reference.

Imaging in LeaseComplete allows you to attached to any record in the database nearly any type of external file, document, image, or photograph which has been scanned or otherwise stored electronically. This list includes:

- Photographic images such as jpeg, bmp, gif, tiff, etc.
- Microsoft Office documents such as doc, xls, ppt, mdb, etc.
- Adobe files such as pdf, eps, etc.
- Text files such as rft, txt, cvs, etc.
- Video files such as avi, wmv, mpa, mpg, mp2, mov, etc.
- Audio files such as mp3, wma, wav, midi, etc.
- Web-based file such as html, htm, xms, chm, etc.
- Compressed files such as zip, rar, etc.
- Many others.

These images or files may be attached to any record in the System based upon user-defined criteria. Once an image is attached to a record, it is viewable from the associated display screen. Field-level security can be added to each image field to deny access to sensitive documents as necessary.

Some uses for imaging include:

- Photographic images, such as a picture of the equipment, may be linked directly to the Asset record and viewable from the Asset Display Screen.

- Lease documentation, such as lease agreements, schedules, and attachments thereto, may be imaged as photographic or Adobe Portable Document Format (PDF) files. The documents can then be attached directly to the master lease or lease contract records and viewed from the corresponding display screen.

- Spreadsheets or MS Word documents can be attached directly to comments/notes as a point of reference to later readers of the notes.

Because image data types can be added as user-defined fields, the potential use of imaging is limitless.

LeaseComplete is a Windows-based solution that provides one of the easiest to use interfaces you’ve ever experienced! All menus are presented intuitively via a convenient desktop navigation bar, rather than being buried behind lengthy pull-down menus. While you may open multiple windows of the same type at the same time, a simple task bar (similar to the Windows task bar) and one-click navigation menu allow you to easily toggle between open windows. This allows you to field a question from a colleague or customer without losing your place or having to re-enter your work.

One of the more powerful customization tools the System offers is a complete Screen Painter, which allows end users to customize screens via a simple click-and-drag user interface. Customizations include adding/removing pages from screens, relocating fields, renaming fields, adding custom edits, preventing input, hiding fields, altering field-level help, etc. You may even create drop-down lists, lookups, and/or default values for any field in the system. Many of our customers utilize the flexibility afforded them here to eliminate data entry errors by establish defaults for common fields, limiting other fields to custom drop-down values, and removing unnecessary fields altogether. The result is a streamlined input screen that mirrors your forms, terminology, and workflow, thereby reducing costs in retraining and day-to-day operations.

Another customization that makes LeaseComplete unique is its ability to provide an unlimited number of user-defined fields. Fields can be added to virtually any screen, and are added with the correct data type (ex: dates, currency, etc.) and integrated into the screen seamlessly. Because the user-defined fields are added to the database, they are also available for use on any standard or custom report throughout the System.

Locating data is also made easy via the use of unlimited data searches which provide you the flexibility to search on any field on any screen without restriction. In fact, you can combine a combination of fields to narrow your search results thereby creating your own, unique results lists. Imagine being able to search your inventory by year, make, model, color, and features via a single point-and-click screen. Additionally, once you’ve located your results list, you may either act on the records one at a time within LeaseComplete, or easily export your search results to common desktop software such as Microsoft Excel, Access, or Word for publishing. (This feature has evolved into a terrific add-hoc reporting tool for our existing customers, allowing them to produce a quick report in a matter of seconds!)

The System’s extensive use of “wizards” guide you step-by-step through otherwise complicated tasks such as lease booking, termination quotes, like-kind exchanges, asset turn-in/buyout, assumptions, extensions, discounting, etc.

Integration is a key component separating "software applications" from "enterprise business systems". LeaseComplete approaches system integration as it does every other aspect of your business, completely! The System supports consistent interfaces that do not break with every upgrade, functions that operate in background without user intervention, and the flexibility to not only allow change but to expect it.

Interfaces to industry standard applications include:

- General Ledger
- Automated Clearing House (ACH)
- Sales Tax (ex: Vertex, Taxware, web-downloads, etc.)
- Property Tax (ex: PTMS)
- Accounts Payable
- Lockbox
- Data Warehouse
- Many others

All interfaces are script driven to allow for easy customization without breaking the base upgrade path or requiring cumbersome retro-fit projects. These scripts allow the flexibility to change an interface with a minute's notice and the security to prevent it from happening inadvertently.

LeaseComplete packs a powerful feature-set behind a solid wall of security, which is both flexible and easy to manage.

Field level security limits access to select fields while leaving other fields available on the screen for the user to view and/or edit. This feature allows you to lock and/or hide sensitive data from select user groups. Screen level security provides screen-by-screen security for display, change, addition, and deletion of data within the System. Report level security limits access to select reports, while restricting report exports for other users are necessary.

Security is administered via user-defined security groups, each group representing a functional security profile. Rules allow you to specify password characteristics, expiration, and lockout procedures to conform to auditors standards. Full password encryption is used throughout the system and the user's password is never stored during the session, making it virtually impossible to intercept. A complete audit trail of security changes is maintained for historical and reference purposes.

Dominion issues quarterly Service Packs to its customers which include both corrections and new system features. These Service Packs – which average between 25 to 30 additions per release – are provided to all active customers as a part of basic maintenance.

LeaseComplete © runs on Windows-based operating systems and networks, including Windows 2003 Server, Windows 2000 Server, Windows 2000 Professional, and Windows XP. The System utilizes a Microsoft SQL Server database, providing a robust, open data management solution, which is more cost effective to install and maintain than many alternatives. An integrated Crystal Reports reporting engine with embedded viewer and report export features provide ample power for all of your reporting needs. An integrated scripting engine featuring full VBScript support provides the ability to customize processing without the unwanted overhead of a proprietary script set or language. Full support is provided for both Citrix and Microsoft Terminal Server environments thus allowing a wide area distribution from a single application server with virtually no client footprint.

Dominion Leasing Software is a leading provider of Web-enabled software and services to the equipment finance and retail leasing industries. Dominion's software and services are used by a diverse group of clients including banks, credit unions, trucking companies, automobile dealerships, specialty vendors, and other independent lessors.

"LeaseComplete has proven to be a solid and reliable product to handle all aspects of managing and servicing our growing equipment lease portfolio. It has already weathered several challenges including a very aggressive conversion schedule. The support and continued additions to the system are provided by a company, Dominion Leasing Software, who insures quality service by proven professionals in software development and industry knowledge. Based on my experience their support has been second to none in both turn around of issues and attention to our expanding needs. LeaseComplete will compare favorably with any product, especially when you consider cost, features, and their superior support."

Harry Kaplun
President
Frost Leasing Corporation
Frost National Bank
San Antonio, TX

"LeaseComplete was selected because of Dominion’s proven track record in the leasing industry, impressive customer satisfaction ratings, and clear technology vision. Additionally, we wanted a solutions provider that shared our values, commitment to service, and interest in developing a long-term partnership. Dominion’s responsiveness to our needs far exceeded our expectations. The cooperation and positive interaction between the two project teams were instrumental to the success of the implementation. Dominion’s ability to understand our needs and translate them into the final product was also critical to the project’s success. We now have a system in place that can assist us with managing our growth and addressing future system needs.”

Robert Tynan
Vice President, Finance
LeasePlan USA
Subsidiary of LeasePlan Corp. N.V.
Atlanta, GA

Dominion Leasing Software
P. O. Box 550
Powhatan, VA 23139
Contact: David Hill
Phone: 1-804-403-3710 x715
Fax: 1-804-403-3710

Email: sales@dominionls.com