Margill Loan Manager Software Update

To get the updates go to the Download Center

This page shows the changes and improvements in the latest software updates.

See what's coming up in version 3.1 in June 2013.

Version 3.0 - Released in February 2013
(Version 3.0.130213.2)

Changes and improvements:

• Database restructured allowing to create a list of borrowers (and co-borrowers), creditors and employers (borrower's employer):

  • Tabs on the main window to quickly view the borrowers, creditors and employers registered in the system;
  • Add borrowers, creditors and employers without the need to create and calculate a loan;
  • A loan may include one or many co-borrowers;
  • A borrower's employer may be added;
  • Ability to create syndicated (participating) loans (multiple creditors for a loan based on a proportion);
  • A creditor may now have several agents.

• Module for sending reports to credit agencies (additional software required for the Metro 2 format)
  
  
  • Many standardized new fields for production of this report.

• Aging report by industry-standard periods such as Current for < 30 days, 30-59 days, etc.
  
  
• Change the interest rates for multiple records at once.
  
  
• Size of the attachments can be adjusted up to 99 MB by the Administrator.
  
  
• Reporting fields now classified and based on themes.
  
  
• New fields:

  • Next Due Payment - Balance (as if paid)
  • Next Due Payment - receivable Principal Balance (as if paid)
    
    

• Option to allow monthly payments at the end of month or on the 28, 29, 30 or 31 of the month.
  
  
• Two new "Unique ID" fields under borrower and creditor, for bridging with a third-party software.
  
  
• Remembers the previous dates entered when producing reports.
  
  
• Optimization of the Undo function and the transaction history.

Version 2.4 - Released November 27, 2012
(Version 2.4.121127.1)

Changes and improvements:

• "Power User" may now create Alerts for all users.
  
  
• In the "Record List (Customized)" report, the fields "Balance Due Interest at Start Date entered" and "Balance Due Principal at Start Date entered" now EXCLUDE any transactions on that Start date entered. Fields renamed to:
  
  
  • Balance Due Interest at 0.00 at Start Date entered (report excluding any transaction on the Start Date entered)
  • Balance Due Principal at 0.00 at Start Date entered (report excluding any transaction on the Start Date entered)
    
    
• In the "Record List (Customized)" report, "Report up to (Date)", the following fields were fixed to include the amounts when the loan's last payment precedes the report End date entered:
  
  
  • Interest Accrued - Year to date
  • Interest Paid - Year to date
  • Principal Paid Year to date

• Various other minor adjustments to previous version.

Version 2.4 - Released May 17, 2012
(Version 2.4.120517.1)

Changes and improvements:

• For the Export accounting transactions to the General ledger module, new option to first select the desired Active records in the Main window (Record Summary) and export only the transactions among these.
  
  
• For accounting, new field added:
  
  
  • "Due Interest between Expected Payments (Period)" that computes the due interest (thus interest that should have been paid) between the previous period's payment and the current payment if the latter is insufficient to pay off the interest due.
    
    
• For accounting, change in reporting for the "Interest Accrued from last Payment "Paid" (for the period)" field. The field takes into account only the accrued interest during the report period all the while reporting the accrued interest even if no payment is made in this period.
  
  
• For the six (6) custom Line statuses "Paid Pmt (X)", new option to enter the amount expected and date at which the payment should have been paid, thus allowing partial, late or partial late payments with these Line statuses.
  
  
• Various other fixes of the previous version 2.4 release.

Version 2.4 - Released February 14, 2012
(Version 2.4.120214.1)

Changes and improvements:

• New module to Export accounting transactions (credits and debits) to the General ledger of various accounting packages:
  
  
  • Intuit QuickBooks Pro (.IIF)
  • Sage Simply Accounting Pro
  • Acomba
  • Excel (.XLS)
  • Text format (.TXT)
  • CSV format (.CSV)
    
    
• In the Main window (Record Summary) optional new field
  
  
  • Total of the Outstanding amount (including interest) at the current date

• Major developments with the Line statuses (in the Results table):
  
  
  • New Line status that may be named as desired (for example, Payment by Visa, Payment by check, Fees Annual, etc.):
    
    
    • Paid payment (2 to 6)
    • Unpaid payments (2 to 6)
    • Fees (4 to 6) Fees Paid (4 to 6)
    • Other (6 to 10)
      
      
  • Existing Line statuses may be renamed:
    
    
    • "Fees" (all)
    • "Fees Paid" (all)
    • "Other" (all)
      
      
  • The display order of all Line statuses can be modified
    
    
  • The Line statuses that are not used in your particular circumstances may be eliminated
    
    
• Three columns added in the Results table:
  
  
  • Interest on Outstanding Balance
  • Balance of Interest on Outstanding Balance
  • Total Outstanding Balance
    

• New fields in Record List (Customized) report, RTF reports (merge), Accounting Export module, and main window:
  
  
  • Interest Accrued from last Payment "Paid" but for the period only
  • Interest on Outstanding Balance (for the period)
  • Outstanding - Total (Variation for the period)
  • Interest Balance on Outstanding Balance (Balance) at Start Date entered
  • Interest Balance on Outstanding Balance (Balance) at End Date entered
  • Outstanding - Total (Balance) at Start Date entered
  • Outstanding - Total (Balance) at End Date entered
    
    
• Sort data with up to three columns in the Main window (Ctrl key).
  
  
• Transfer the "ownership" of Records to a different user directly through the main window (Record Summary window) with the right mouse clic.
  
  
• Corrections to version 2.3:
  
  
  • Standard reports adjusted for additional principal, negative payments, end date transactions and interest included or not in computation
    
    
  • Calculated fields for reports:
    
    
    • Balance Due Principal at Start Date entered
    • Balance of line of last Paid payment (all "Paid" Line statuses)
    • Negative payments
    • Outstanding variation for the period has been inversed (more logical this way)
  
  
• Multiple behind the scenes adjustments.

Version 2.3 - November 11, 2011
(Version 2.3.111111.1)

Changes and improvements since the September 14th version:

• New user privilege level: create and edit Records that are in "Draft" state only.
• New "Notes" section allowing the user to add and view general notes in a Record.
• In the Main window, new field can be configured to provide the "Interest Accrued from the last paid payment to the current date".
• In the Results table, new option to instantly recompute (adjust) the interest rate for a line in order to obtain a known interest amount for that line (or period) only.
• In the Detailed payment schedule report, the following elements can now be excluded from the printed report:
  
  
  • "Start Date" column
  • "Interest Rate" column
  • Header: Data window "Description"
  • Header: Borrower window "Other info"
    
    
• In the Detailed payment schedule report the record numbers now appear in the printed report's footer.
• New fields in Record List (Customized) report, RTF reports (merge)(and main window):
  
  
  • Balance Due Interest at Start Date entered
  • Balance Due Principal at Start Date entered
    
    
• Display of the date and time at which the Record was last updated.
• Main window refresh speed optimized.

Version 2.3 - September 14, 2011
(2.3.110914.2)

Click on the image to see a short video explaining the main changes and improvements (Youtube)

What's new in detail:

• New option allowing to add Principal, Fees (Fees, Fees 1, Fees 2), Insurance, Taxes, Penalties and Invoices without charging interest on these.
  
  
• Scroll menus may be created for the following fields:
  
  
  • Borrower window: Type, State/Prov., Country and the nine (9) custom fields
  • Custom fields (unlimited): All fields
  • Advanced window: Grace period (in days)
    
    
• Most fields available in MLM can now appear in the Main window thus allowing to view and sort with the data contained in these.
  
  
• In the Main window, new field can be configured to provide balance on current date.
  
  
• New fields in Record List (Customized) report, RTF reports (merge)(and main window):
  
  
  • File Number (as a number, not text)
  • Today's date - long format
  • Computation method (Simple, Compound, etc.)
  • Day count
  • Short period computation method
  • Year base (anniversary or civil year) for simple interest computations
  • Balance of line of last Paid payment (all "Paid" Line statuses)
  • Amount of last Paid pmt (all "Paid" Line statuses)
  • Total of Fees 1 + Fees 2 + Fees 3
  • Total of Fees 1 Paid + Fees 2 Paid + Fees 3 Paid
  • Principal Total Principal Total (interest bearing portion)
  • Principal Total (no interest portion)
  • Additional Principal (Line Status = Add. Princ.) (interest bearing portion)
  • Additional Principal (Line Status = Add. Princ.) (no interest portion)
  • Principal Total (for the period)
  • Principal Total (interest bearing portion) (for the period)
  • Principal Total (no interest portion) (for the period)
    
    
• Portfolio analysis: Repayment ratio
  
  
• The 9 Custom fields contained in the "Borrower" window now appear in the Payment Update tool.
  
  
• The Custom fields (unlimited) can now be used in the RTF Report Editor as document merge fields.
  
  
• Line numbering in the Results table.
  
  
• New data merge module allowing the creation of very precise scanned (PDF) custom reports.
  
  
• "File" field entered by the user ("Borrower" window) now appears in active Record's header.
  
  
• In the "Results Table", 100 spaces (characters) now allowed in the "Comment" column.
  
  
• In the "Data" window, unlimited number of spaces in the "Description" box.
  
  
• "Mobile" phone field added for Borrower and Creditor.
  
  
• New Record status: "On hold".
  
  
• "File Number" (as a number not text) added for Borrower (in order to sort by numerical order).
  
  
• The file number or numbers entered by the user will now appear in the record window header.
  
  
• For new installations, option to start each Record's unique identifier at a specific number other than 1 or 100 ("Record no." field).
  
  
• In the Record List (Customized) report, the 9 Custom fields contained in the "Borrower" window have been moved from the "Special" column to the "Borrower" column.
  
  
• Various "behind the scenes" improvements and corrections.
  
  
• Knowledge base added on the Margill website: www.margill.com/knowledge.
  
  
• Updated User Guide.

Version 2.2 - December 3, 2010
(2.2.101203.4)

• System Alerts: General alerts for one or all users.
• Line status Alerts: Alerts based on the Line status conditions.Most useful for due payments.
• Record Alerts: General alerts but specific to each record.
• Record Line-specific Alerts: In the Results table of each record, on each payment line
  
  
• New sub-statuses for Active Records as well as the corresponding Metro 2 code (for credit reporting agencies). Option to show only certain sub categories in the main window. These fields have also been added in the Custom Record List report and in RTF (merge reports)
  
  
  • Current (0)
  • Deferred payment
  • Late payment
  • Late payment 30-59 days (1)
  • Late payment 60-89 days (2)
  • Late payment 90-119 days (3)
  • Late payment 120-149 days (4)
  • Late payment 150-179 days (5)
  • Late payment 180 days or more (6)
  • Collection (G)
  • Foreclosure completed (H)
  • Voluntary surrender (J)
  • Repossession (K)
    

• Option allowing for a grace period for late payments. Thus, even if a payment is late by x days, no extra interest is charged to the borrower. However, the feature is not automated but a new column was created in the Results table in which to insert the true payment date if a grace period is given. See Advanced settings to set the Grace period for each Record.
• Bi-monthly payment frequencies no longer limited to the 1st and 15th of the month.
• Annual interest rate up to 999%.
• New Line status - "Paid Returned Check".
• Option to add the actual Results table (with various data elements) in the RTF (merge) reports.
• Multiple new fields in Record List (Customized) report and RTF reports (merge):

• New columns in the Results table allowing you to determine the outstanding payments balance. The "Outstanding (Balance)" column factors in the payment that should have been paid less the true payment amount as well as the extra payment that compensates the unpaid or partial payments.
• New columns in the Results table:
  
  
  • True Pmt Date (Grace)
  • Outstanding (Balance)
  • Alert to accomplish
  • Alert Days Before - / After +

• New columns in the Invoices and Statements module:
  
  
  • Phone
  • Creditor
  • Expected payment
  • True payment date (Grace)
  • Outstanding (Balance)