What's New in Nakisa Real Estate

This section outlines the new features and fixes included in Nakisa Real Estate 2023.R4 (updated as of the February 29th, 2024 release).

Real Estate Management

  • The new conditional indexation feature allows users to set a minimum and/or maximum limit to CPI rate changes when executing CPI Indexation Plans.
  • Users now have the option to view the terms in their rent table per period rather than per expense category.
  • Instead of performing full reconciliation, users now have the option to enter amounts from their invoices directly into the application through the Reconciliation tab without any additional calculations. This summary is for informational purposes only.
  • When indexation occurs between payments in arrears, the payment may be pro-rated depending on the different amount frequencies.
  • When Nakisa Real Estate is operating as an IFRS 16/ASC 842 solution, the lease now syncs with Nakisa Lease Administration when the lease is activated. Additionally, a new button in lease actions has been added to allow users to sync their leases with Nakisa Lease Administration at any time. Note that leases still sync with Nakisa Lease Administration once every 24 hours.
  • For added flexibility, users can now add Free Rent / Reduction terms in their Rent Table.
  • The new "Pro Rata" switch has been added to the Rent Table which provides users the option of automatically calculating their pro-rated amounts and special payments.
  • To help users keep track of balances, Provision accounts have been introduced. The provision account keeps accruing balances on certain dates based on payment amounts, which are then reversed by the actual payment amount on the payment date. If the configuration has been set up in Financial Organization Structure, Nakisa Real Estate is impacted as follows:
    • When adding a lease, users have the option of selecting the "Provisioning" checkbox, as well as setting the Provisioning Frequency to either "Straight-Line" or "Periodic".
    • When adding terms in the Rent Table, if the first or last payment needs to be overridden, there is now a separate First Provisioning Amount and Last Provisioning Amount to modify the first or last provision accrual (without affecting the overall provision amount for the payment period or lease).
    • Users can view their payments and provision accrual in the Provision Expense Spreading view in the scheduled payments module.
    • To post payments and provision accrual, users can use batches to create jobs for Payment and Provision Journal Types.
    • The following changes have been made to Financial Organization Structure to support Provision accounts: 
      • A new Company Financial Setting has been added, called "Provisioning", which allows users to configure Provision accounts under a new Provisioning classification under the main accounting standard.
      • The following Account Determination tables (as well as all relevant accounts in the Relations section) must be configured for the "Provisioning" Lease Classification Type: 
        • Lessee Account Determination
          • The following Account Types have been added to the Relations Account Mapping:
            • Provision Lease
            • Provision Lease Expense
            • Provision Lease Clearing
          • The Vendor General Ledger Determination table has been updated with a new column "General Ledger Payable Account Provisioning" for provision payment postings when Generate Vendor Invoice is selected in the contract.
        • Non Lease Lessee Account Determination
          • For provision non-lease postings, the application uses the Non Lease Accrual Account in the Expense Category Account Mapping table in the Relations section. If it is not configured, the Non Lease Accrual Default Account in the Non Lease Lessee Account Determination table is used.
          • For provision non-lease expenses, the application uses the Non Lease Accrual Expense Account in the Expense Category Account Mapping table in the Relations section.
          • For provision non-lease clearing postings, the application uses the Non Lease Accrual Clearing Account in the Non Lease Lessee Account Determination table.
        • The Vendor General Ledger Determination table has been updated with a new column "General Ledger Payable Account Provisioning" for provision payment postings when Generate Vendor Invoice is selected in the contract.
        • In the Relations section of the Document Type Determination, the "Provisioning" Posting Document Type has been added, and can be configured if required.
        • In the Relations section of the Transaction Type Determination, the "Provisioning" Transaction Type has been added, and can be configured if required.
  • Nakisa Real Estate now allows you to associate areas to your sales data with the new Area Type field in the Sales tab. Additionally, the new columns "Area Type" and "Amount per Area" have been added to the Sales tab in the premises.
  • For added flexibility, users can now create indexation plans for Modification Dates in the past. Additionally, the Reference Date when using CPI Global no longer needs to be earlier or equal to the Modification Date.
  • When creating a Free Rent/Reduction term in the Rent Table, users can now enter negative first and last special payment and provision amounts.

Configuration and Administration

  • In all job creation pop-ups in Nakisa SAP Posting Bot and Financial Organization Structure, users can now search and filter the Profile list to more easily select the required ones.
  • The following updates have been made to secondary cost objects master data tables in Financial Organization Structure:
    • When Profit Center is synced, Financial Organization Structure now creates one Profit Center object per Controlling Area (with the same Display ID).
    • In the Cost Center table, only one Profit Center can be attached per period.

    Note: You must re-sync the Profit Center and Cost Center tables.

  • In Financial Organization Structure, users can now see descriptions of settings in informational tooltips in General Settings, Company Financial Settings, Posting Period Control, and System Financial Settings.
  • In Import/Export Information > Import, the following updates have been made for the ERP Master Data category: 
    • Users now have the ability to map a Partner to a Partner Contact. In the Import job, there is now an option to import "Partner to PartnerContact" data, and the sheet "Partner to PartnerContact" has been added to the Excel template.
    • In the Partner Contact table in Nakisa Master Data, only the Display ID needs to be unique across entries.
    • "Controlling Area Display ID" has been added as a mandatory column in the CostCenter to ProfitCenter sheet.
  • The Audit Log in Financial Organization Structure now only stores up to three months of data. Records that are older than three months are archived, but can be accessed with the new Audit Log export feature.
  • This Nakisa 2023.R4 release now integrates with S/4HANA Edition 2022.

Dashboards and Reports

  • A new Dashboard Overview page has been added to provide a list of all default and custom dashboards.
  • Users can now add existing default charts to their custom dashboards.

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