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What's New in Nakisa Real Estate

This section outlines the new features and fixes included in Nakisa Real Estate 2024.R1 .

Real Estate Management

For easier management of leases and contracts, the following changes have been made:
- Leases have been renamed to Contracts.
- For clarity, contracts are now defined as one of two contract types: Head Lease (for terms that are part of the main lease contract) and Other Agreement (for terms that are part of separate contracts not part of the main lease contract).
- Users can now add multiple contracts to a head premises. Note that there can only be one head lease associated to a premises, but there can be multiple other agreements.
You can now use your own custom formulas to calculate percentage rent. This feature is enabled through the Formula Percentage Rent setting in Admin.
You can now calculate taxes for your contracts. Note that this feature is currently only supported for connected systems. Nakisa Real Estate is impacted as follows:
- When adding a premises, you can set the default Tax Jurisdiction to be used for the contract.
- In the Rent Table, you can select which vendors you would like to calculate taxes for, and view tax related information per vendor.
- In the Scheduled Payments module, you can now view an estimate of the tax amount per period and term type before the payment is posted.
You can now track your energy consumption and calculate the subsequent CO2 emissions with the ESG tab in the premises. This feature is enabled through the ESG setting in Admin.
You can now upload historical data as legacy terms through the "Initial Data" Data Import. Legacy terms are visible in the Rent Table, but cannot be edited or deleted.
The new optional Replaced By field has been added to contract conditions to allow users to specify who is responsible for replacing any damages.
Payment details in Scheduled Payments have been updated to include more detailed information for recurring and one time payments.
The following changes have been made to batches:
- The columns "Previous Amount", "Difference", and "Total" have been added to the batch report to allow users to see differences in the amounts previously posted and the payments to be posted.
- The columns "Address" and "Area (Premises GLA)" have been added to the batch report.
- Once a batch is executed, the information in the batch remains the same as it was at the time of execution.
- Batch reports can now be filtered by Status.
You can now modify the Expense Category, Payment Frequency, Amount Frequency, Payment Mode, and payment dates in your payment terms in a contract version.
Location partners have been enhanced as follows:
- You can now create contacts for your partners directly in the application.
- You can associate a contact to multiple partners.
- For organizational purposes, contacts are now associated to a Contact Type.
Nakisa Real Estate now calculates pro-rata amounts for the first provision posting.
When there is an increase in the Amount of a payment term mid-period, the resulting payments now occur on the same Payment Date, instead of on two different dates.

Configuration and Administration

In Financial Organization Structure, in the main menu, the Configuration option has been renamed to System Configuration.
The Consumer Price Index Category table in Financial Organization Structure now allows users to set a CPI rate based on combined rates of existing CPI categories.
The new table Contact Role has been added to Nakisa Master Data to allow you to configure roles for partner contacts.
The Partner table in ERP Master Data now allows you to set a Parent Partner if your partner belongs to a larger supplier group.

General Ledger

To better reflect the capabilities of the product, the Nakisa SAP Posting Bot has been rebranded to Nakisa General Ledger.
In Ledger Transactions, you can now view full transaction details, as well as edit the Document Date, Posting Date, or Reversal Reason for externally failed reversals, or the dates for externally failed termination journals.
The Duplicate Consistency Check tool has been added to identify any issues between the documents in Nakisa General Ledger and in SAP. If there are duplicate SAP documents found, the extra documents can be reversed. If the external document status in Nakisa General Ledger is incorrect in relation to the SAP posting, the inconsistent status can be corrected.
- Default settings for these checks can also be set per SAP system.
- This tool can only be used if TCODEs are configured in SAP to identify NAKISA documents. Refer to the SAP Prerequisites Guide.
Through configuration in Financial Organization Structure, users can now receive email notifications for scheduled jobs and reports.

Dashboards and Reports

You can now create dashboards and reports based on sales data.
The Audit Log 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. You can export up to one year of archived data.