Margill Loan Manager – Release notes

Version 4.4 – Released October 31, 2018
(Version 4.4.181031.1)

What’s new:

  • In printed Results table, new Line statuses “Interest charged” taken out of the “Other increases” section (totals at end of page) and Column fees added.

Version 4.4 – Released October 25, 2018
(Version 4.4.181025.1)

What’s new:

  • Blocking of historical transaction changes by the Administrator of all Results tables for Active, Closed and Archived Records as of a chosen date
  • Document merge module:
    • For the DOCX report, a single file may now be created for the batch of records as opposed to a separate file for each
    • When individual DOCX, RTF or PDF files are saved, choice of different identifiers in the file name (as opposed to the single option using the MLM ID)
  • Interest Adjustment Date can now be added at the start of a loan (usually for short periods between the Origination date and the First payment date in a mortgage)
  • Main (Record Summary) window:
    • User may change the column heading names
  • New Line status:
    • Due Pmt – Unpaid (for Due payments that the user knows will not be paid before their due date)
  • New reporting fields:
    • Balance Due Interest (at Current Date)
    • New document merge Results tables (numbers 8 and 9)
  • Twice monthly payments can not be set to desired, less usual, frequencies (2nd and 22nd day of the month, 5th and 24 day of the month, etc.)
  • For EFT transmissions (Intrix and Perceptech), number of days to add to the “True Pmt Date (EFT/Grace)” (as well as Saturday and Sunday payments) now remembered. Nevertheless, the user must Submit the request at each EFT transmission.
  • Step payments percentage increase or decrease automatically calculated to yield a balance = 0 or other amount (when lines are added at the end of a Results table).
  • Lines in a Results table can now be assigned a special color (right mouse click)
  • Loan import via Excel sheet:
    • A Co-borrower and a Guarantor can now be added
    • Column fees can now be 0.00 for some loans
    • Other adjustments offering more import flexibility
  • Copy of the payment amount to one of the extra information columns (with shortcut)
  • Reset Expected Pmt to 0.00 for all “Add. Pmt” Line statuses (with shortcut)

Version 4.4 – Released June 13, 2018
(Version 4.4.180613.1)

What’s new:

  • Day count:
    • The 30/360 Day count method used so far was temporarily taken out of version 4.4 (replaced by 30U/360) and added back in this version 4.4
    • 30U/360 Day count method added. This method adds a condition for February 28/29 end of month payments. See Calculation methods > Day count
  • EFT (US and Canada) payment selection window sorting now allowed with Borrower name and other columns
  • EFT (Canada) module improved to reduce possibility of human error and operations tracking mechanism added

Version 4.4 – (Version 4.4.180320.1)

March 20, 2018 (Beta released February 21, 2018)

What’s new:

  • Electronic Funds transfer (EFT):
    • ACH payments for the United States with our partner Intrix
    • With Perceptech (Canada), import and update rejected payments (changes Paid payments to Unpaid payments along with the automatic fees if required)
    • Automatically change the “Paid pmt” type based on the “Due Pmt” type (3 choices)
    • New field which indicates if EFT is enabled or not (Yes / No) (“EFT enabled” under “General”). Useful in the Main window allowing you to see which Records have not been submitted as EFT
    • New field to identify the Perceptech account number
    • To reduce the risk that upcoming EFT payments will be forgotten, Margill no longer allows users to submit EFT transactions if the option “Access to your own Files” is checked
  • Major evolution in the Document Merge tool:
    • New sophisticated text editor to create Word documents (DOCX)(Beta mode for now)
    • New Invoices and statements module to include data for multiple periods in one statement/invoice:
      • Current (or upcoming payments) reporting period
      • Previous reporting period
      • Year-to-date to start of current reporting period
      • Start of loan to start of current reporting period
  • New Line statuses:
    • “Paid interest”.  Allows interest to be paid in advance without the need for there to be an interest balance.
      • “Balance Due Interest” can now become negative (minimim 0.00 in previous versions)
    • “Interest Charged” and “Interest Charged (2)”, which can be renamed. Allows the user to add interest without needing to increase the interest rate
    • 10 new Payment-type lines (Paid Pmt 11x to 20x). These payments do not include their “Unpaid” counterparts and only include, for the reports, the amounts per se. The reporting fields that subdivide Interest, Principal, Column fees and APR Fees financed portions are not included.
  • The MLM Administrator may now define Mandatory fields so they must be filled by the user before saving the Record, the Borrower, the Creditor and/or the Employer. Custom fields are also included
  • Alerts module:
    • Automatic emails to notify Borrowers, Co-Borrowers and / or other e-mail addresses (blind carbon copy, BCC) that a payment is due, late, unpaid, etc. (Line status-type Alerts)
    • Data merge templates (subject and body message) for these automatic emails
  • Post payment tool via Excel:
    • New option that allows updating Due pmts via an Excel sheet simply with one of the Record’s unique identifiers and the precise payment Date and Amount
  • Creditor participation:
    • Return (in percentage) given to each creditor in a loan.  Can then be used in Mathematical Equations to report Creditor’s monthly interest revenue share.
  • New reporting fields:
    • Principal amount converted to words (“115” becomes “one hundred fifteen”). To be used in the templates for the Document merge (Letters, Invoices and Statements).
    • Last Paid payment (all Paid Line statuses)(in period) – Expected Pmt Amount
    • Last Paid payment (all Paid Line statuses)(in period) – True Pmt Date (Grace)
    • Last Paid/Unpaid payment (only Paid and Unpaid Line statuses)(in period) – Expected Pmt Amount
    • Last Paid/Unpaid payment (only Paid and Unpaid Line statuses)(in period) – True Pmt Date (Grace)
  • Changes in the accounting Principal
    • “Paid Principal” can now be greater than the Principal balance
    • “Balance Due Principal” can now become negative (minimum 0.00 in previous versions)
  • Accounting (GL report). New optional notes that accompany the transactions:
    • Record, Borrower and Creditor Unique ID 1 and 2
    • Record Type
  • Find Unmanaged Records (those that remain as “Due Pmt” on the current date or x days before) directly in the Main window
  • Overnight tasks using Windows “Task Schedule” to compute the new balances in the Main window and to generate Alerts – this saves considerable time when MLM is first run in the morning.
  • Creditor First and Last names in Record window header (optional)
  • New print interface offering more options
  • Direct scan from the Attached documents module (Record and Borrower) – scan your documents at the touch of the button
  • Handy Calculator now added in the Results table window

Version 4.3 – Released October 6, 2017
(Version 4.3.170201.4)

What’s new:

  • New and highly specialized field allowing you to obtain the amount of capitalized interest: Line status Other 3 (Mathematical Principal column (for period) + 1 day) (see more in Reporting Fields – Principal section)
  • Fixed the report fields “Interest accrued since last payment (paid or unpaid)”
  • Fixed the report fields “Balance Column Fees (1 to 3) at end date”. Problem when there were no transactions in the reporting period
  • Changed the term “Balance” to “For period” for the fields that report the “unpaid portions” of the expected payment amount. These various fields (merge codes 704, 791 to 799, 800, 818, 828) do not show the balances at the end of report period date but rather a periodic total, not a cumulative total.

Version 4.3 – Released May 18, 2017
(Version 4.3.170201.3)

What’s new:

  • Posting payments through an Excel sheet (with unique line identifier) now allows for grace date.
  • Issue with Results table column, user preferences fixed.
  • Right mouse click menu in Results table modified.

Version 4.3 – Released February 21, 2017
(Version 4.3.170201.2)

What’s new:

  • Read-only user can now be given permission (by Administrator) to post payments with any of these tools:
    • Post payment module – Post payment tool
    • Post payment module – Existing (Due) payment update through a spreadsheet
    • Post payment module – New payment import through a spreadsheet

Version 4.3 – Released February 1, 2017
(Version 4.3.170201.1)

What’s new:

  • New calculation method that can be used automatically: simple interest capitalized.
  • In the Main window, display filters now allow you to choose multiple data elements and multiple fields to display desired Records (example: display Active and Draft Records).
  • Interest rate now computed to six (6) decimal places and displayed with 0 to 6 decimals.
  • Nine (9) new columns (Custom Columns) that may be named as desired in the Results Table, allowing the entry of Monetary, Numerical, or Text data.  This is useful for Escrow (insurance and property taxes) by allowing creditors to specify when they pay the insurance company and/or the city (Escrow Report).
    • 18 new fields for various reports:
      • Total amount entered in the Columns (by period) – Money and Numerical (6 fields)
      • Total amount entered in the Columns from the Origination Date to the Report end date – Monetary and Numerical (6 fields)
      • Total amount entered in the Column Fees (1, 2, or 3) (Accrued) from the Origination Date to the Report end date (3 fields)
      • Total of amounts entered in the Column Fees (1, 2, or 3) (Paid) from the Origination Date to the Report end date (3 fields)
    • In the Transaction Report, transactions resulting from these new Columns
  • Irregular Payments may be entered in a window before the Results Table is produced.
  • Record List (Customized) report can now be divided by Year, Quarter and Month.
  • Record Alerts may now be created in the Alerts display module (under Tools).
  • Alerts module: if multiple email addresses are included under the Borrower, email now sent to all of these (carbon copy)
  • Automatic Column Fees are now available for the Line Statuses “Paid Pmt 2” to “Paid Pmt 10.”
  • Automatic Column Fees may now be configured to generate an amount of 0,00 (for example, tax or insurance invoiced that becomes 0,00 if payment is unpaid).
  • For pre-authorized payments (EFT) with Perceptech (Canada), older unpaid payments (less than 173 days) may be submitted.
  • Unique Line ID for each line in a Results Table (available in the Transactions report and in the Accounting entries report).
  • In the new payments report via Excel sheet, new options:
    • Import one of multiple transaction types (Due payment, Paid payment, Additional Principal, Information (Payment = 0,00), etc.) in one operation
    • Additional data imported in the Payment schedule columns:
      • Line Comment, Check number, Grace date, Custom columns (3 text type columns)
      • Import of fixed principal payments without first needing to refund all accrued and outstanding interest
  • Payment update tool via an Excel sheet and Unique Line ID
  • New reporting fields:
    • “Payment Method” (entered in the Record’s “Data” tab)
    • Balance at 0:00 at report Start Date (excluding any transaction on that day and Principal (Original))
    • Balance computational at 0:00 at report Start Date (excluding any transaction on that day and Principal (Original))
    • Balance Due Principal at 0:00 at report Start Date (excluding any transaction on that day and Principal (Original))
    • APR – Balance Due Fees Financed at 0:00 at report Start Date (excluding any transaction on that day).
    • Active EFT Account Number for the Record.
  • 78 fields for the PAID principal, Interest, APR Fees Financed, and Column Fees (3 types) according to “Payment” type Line statuses now included in the Mathematical Equations.
  • Global changes to the database (batch changes) — new added fields for the Borrower.
  • In the pre-authorized payments (EFT) submission window, new Column containing the Line status (Due Pmt, Due Payment 1 or 2 – renamed).
  • Printing the Results table:
    • When the Origination date is before the current date, the interest rate displayed will be that at the Origination date, not 0.00%
    • New option allows to print the lines contained in the Results table without including the accrued interest when annual or quarterly totals are requested
  • In the Record window header:
    • Choice of data to be displayed in the window header among: Borrower First and Last names, Borrower Company, File number, etc.
    • Display by Record Unique ID (1 and 2)
  • Sort by Record Color in the Main window (with the Record Color field)
  • Record import via an Excel sheet:
    • “Fixed principal” method now allowed
    • “Payments set to 0.00” now allowed
  • Post payment tool:
    • Font size can now be increased with 
  • In the Data window, the “New Record” link renamed to “Modify/New Record”.

Version 4.2 – Released June 27, 2016
(Version 4.2.160627.1)

Changes and improvements:

  • Great increase in system speed.
  • Column Fees can now be added automatically taking into account special criteria (Unpaid payment, Late payment, etc.). The Margill Administrator can create his/her own rules (fee amount or percentage).
  • Major improvements in the Post-payment tool:
    • Change “Due Pmt” not only to Paid or Unpaid but also to Late or Partial or both with the option to add Column Fees and make other changes
    • Easily update Records by displaying not only “Due Pmts” but all payment types (Paid, Unpaid, etc.). Most useful when multiple payments were posted as paid but had bounced afterwards.
    • Display only those payments that the user wishes to update as opposed to system default. This can be done manually or though an Excel sheet.
    • Record Unique Identifier 1 and 2 as well as the Electronic Funds Transfer (EFT) Account Number now displayed in the payments table.
    • Special color assigned to a Record via this window
  • Bulk Import of payments (Due Pmt, Paid Pmt, Additional principal, etc.) via an Excel sheet in an existing Record.
  • New tool to perform global changes in the database (batches changes). The following fields can now be modified without having to open each Record or Borrower individually:
    • Record:
      • Record Status and Sub-status
        • For example, it is now possible to change 136 Record statuses from Draft to Active
      • Record Type
      • Record Owner (was already available)
      • Activation of Automatic Column Fees
      • 9 custom fields for a Record
      • Currency
      • File Number, File Number (Numerical), Record Date, Accounting ID, Unique Record IDs 1 and 2
      • Credit Limit for a Record
      • 9 Custom fields
      • Unlimited Custom fields
    • Borrowers:
      • Borrower Owner (was already available)
      • Unique ID 1 and 2
      • 9 Custom fields
      • Unlimited Custom fields
      • Many more coming in future versions
  • New Lines statuses: “Due Pmt (2)” and “Due Pmt (3)” (that can be renamed). For example, “Due Pmt – Cash”
  • New reporting fields:
    • 78 new fields for the PAID Principal, Interest, APR Fees Financed and Column Fees (3 types) according to “Payment” type Line statuses:
      • Paid Pmt
      • Paid Pmt 2 to 10 (as renamed)(54 fields!)
      • Paid Pmt Returned Check
      • Add. Pmt
      • Partial Pmt, Partial Late Pmt, Late Pmt
    • 205 new fields to identify up to 9 Co-Borrowers and 9 Guarantors
    • Balance Due Principal (at Current Date)
    • APR – Balance Fees Financed (at Current Date)
    • Record Creation Date
    • Other 3 (Principal)(Line status)(for period)
    • Template 6 for the Results table (detailed lines) (Document merge)
  • Maximum credit by Borrower (for Active Records only) based on one of these four criteria:​
    • Total original Principal
    • Total original Principal and all Additional Principal Line statuses
    • True Balance (Principal, Interest, Fees, etc.) at the current date
    • Balance of the Principal and the Fees Financed (APR) at the current date
  • New option to add a Guarantor to a Loan
  • Record Notes are now accessible and can be changed from the Alerts display module
  • Conditional Alerts can now be applied to future Active Records (in order to create particular data entry rules)
  • Executive Summary report – option to exclude empty fields from the report
  • New special payment method, ”Simple Interest” (and no longer only Simple Interest Capitalized), for specific payment lines (usually for Short periods)
  • Correction of some totals and balances in reports when special special short methods are used in a payment schedule (mix of simple interest capitalized and other lines compound interest payments)
  • Management of the zip/postal code and telephone number format import for the borrowers (via Excel)
  • Option allowing special Records to be highlighted by color in the Main MLM window
  • Improved email connection settings for sending batch emails
  • Records become ”Read-only” when the Payment Update tool is used.
  • Display issues fixed when Windows display (size of text, apps, and other items) is at 125%, 150%, etc.

Version 4.1 (.7 update) – Released March 3, 2016
(Version 4.1.150525.7)

What’s new:

  • Four new fields that factor in the “True Pmt Date” (Grace/EFT)” as the date of transaction for the Record List (Customized) and Document merge reports:
    • Interest Paid (for period)(using Grace/EFT Date)
    • Principal Paid (for period)(using Grace/EFT Date)
    • Interest Paid – Year-to-date (from January 1 to report End Date)(using Grace/EFT Date)
    • Principal Paid – Year-to-date (from January 1 to report End Date)(using Grace/EFT Date)
  • The ”Expected Pmt” column amount can now be changed for Line statuses ”Other 1 to 10”

Version 4.1 (.6 update) – Released November 6, 2015
(Version 4.1.150525.6)

Corrections :

  • In the Accounting report (export to General Ledger) correction of the following variables to factor in the “True Pmt Date (Grace/EFT)” when a payment is made. Previously, even if a date was entered in the “True Pmt Date (Grace/EFT)” column, the Payment Date was used:
    • Interest Paid (for period)
    • Principal Paid (for period)
    • APR – Fees Financed Paid (for period)(for all APR Fees Financed)
    • The five (5) individually segmented “Paid Fees Financed (APR)”
  • In the Accounting report (export to General Ledger):
    • Correction of the three (3) “Paid Column Fees” variables. Now report the “Payment Date” or the “True Pmt Date (Grace/EFT)” as opposed to report end date.
    • Various adjustments to the report.
    • Warning no longer shows when the Grace date precedes the payment date.
    • Warnings not related to the report’s time period no longer show.
Version 4.1 (.5 update) – Released September 21, 2015
(Version 4.1.150525.5)

Changes and improvements:

    • Participation percentage of each of the Borrowers and Co-borrowers
    • New option to tag a Borrower as a “bad payer” (or other) in order for a warning to be given to the user if this person or entity is selected as a Borrower or as a Co-borrower in a loan. The warning message may be adapted for each Borrower. For example: “Do not lend to this person.”
Version 4.1 (.3 update) – Released July 31, 2015
(Version 4.1.150525.3)

Changes and improvements:

    • Import of multiple Records at once (regular payment schedule portion) from an Excel sheet (support is required from the Margill team – fees are involved)
    • Detailed report (Results table) now with the option to include interest and transactions of the report end date
    • New templates of the Results table in the document merge report
    • New fields:
      • Computational Balance of the last Transaction (in period)
      • Computational Balance of the last Paid/Unpaid payment (only Paid and Unpaid Line statuses)(in period)
      • True Balance of the last Transaction (in period)
  • Various fixes to version 4.1
Version 4.1(.1 update) – Released May 26, 2015
(Version 4.1.150526.1)

Changes and improvements:

    • New report: Custom Executive Dashboard including amounts and number of Records by categories, averages and pie chart
    • New report: Custom Transactions report by Line status, data from Results table columns (payment amount, accrued interest, paid interest, fees, comment, check number, etc.) and option to include hundreds of other fields
    • New module to manage returned Checks (NSF)
      • New data columns in the Results table:
        • Check number
        • Date of returned check
        • Date at which the NSF check was compensated
    • Search now possible for most of the columns of the Post payment tool
    • New fields:
      • Interest rate at the report end date
      • Interest rate at the current date
      • Proportion, as a percentage, of each the Fees Financed (APR) in relation to the total of all Fees Financed (APR)
      • Paid Financed Fees (1 to 5) (APR)(based on the proportion of each to the total of the paid Financed Fees (APR)
      • Number of days of delinquency
    • Options via Tools > Users allowing the Margill Administrator to prohibit certain users from deleting Records, Borrowers, Creditors or Employers
    • Multi-creditor module:
      • For loans with multiple Creditors, possibility of extracting Creditor data according to the name of these creditors (as opposed to their position in the Creditor loan table – Creditor 1, 2, 3)
      • Extraction of the following data:
        • Company name
        • Name and First Name (if Creditor is an individual)
        • Participation in percentage
        • Participation in currency
        • Possibility of using Mathematical Equations to extract hundreds of other data elements.
    • Search tool for loans from the Main window now allows a search using multiple criteria. For example, First Name AND Family Name (or multiple other criteria) can be used as opposed to a search with only one field at a time in version 4.0.
    • Significant increase in the refresh time of Records in the Main window (Record Summary) with the new “Fast Search Mode” (Tools > Settings > User Settings > Record Summary window). Particularly useful for the larger databases (over 1000 loans)
    • In the printed Detailed Schedule will be displayed in the heading, the nominal and effective interest rates in effect, either at the date at which the report is produced or at the end date of the report (if the loan is terminated at the current date or if the report is produced up to this date). In the previous versions, the rate was that originally entered in the Data window.
    • Tool that extracts all the files Attached to the loans (Tools > Various)
    • In the Main window and in the Results table, new icons in order to enlarge or reduce the size of the text (previously done by the “Ctrl Arrow up or down” shortcut)
    • Correction of the refund sequence of Fees Financed (APR) for a particular scenario
    • Adjustments to the credit reporting module
    • Change in the APR calculation method when the balance is positive
    • Files can now be attached directly in to a Record using the “Attach” button
  • Unique identifiers for the Employer

Version 4.0 – Released December 12, 2014
(Version 4.0.141212.1)

Four most important improvements:

1. Fees by column (a host of new powerful possibilities).
2. Documents merge now creating PDF documents that can be sent in bulk by email.
3. APR module completely redone with new powerful fee options (for easy add-on interest calculations).
4. Search tool that displays, in the Main window, the desired records based on various search criteria.

Changes and improvements:

  • Fees module which allows the user to add fees, insurance or taxes in column format as opposed to lines in the Results table. These fees (or other) can then be isolated more easily from an accounting perspective. Up to three (3) types of fees can be added as column fees. Corresponding fields for the reports.
  • Significant improvement of APR calculations (Annual Percentage Rate).
    • Possibility of including financed, prepaid or  subsequently paid fees in the loan.
    • New columns in the Payment Schedule:
      • Paid fees (when financed fees added in the APR tab).
      • APR financed fees balance.
    • Corresponding fields for the reports.
  • For the Document Merge tool (Letters, Contracts, Invoices and Statements):
    • Export and print in PDF format (direct PDF or though Word 2007 and up to obtain a more sophisticated visual).
    • In one operation, it is now possible to:
      • save as PDF or RTF
      • print
      • send the document(s) in batch by e-mail
      • attach the document(s) to the Record
    • For the Dates fields, new date format options (short, medium or long format) are now available.
    • New Results tables that can be integrated to the merged document:
      • Summary format (2 columns with payment amount and date)
      • Schedule from the loan’s Origination date to report end date (even if the report start start date is after the Origination date)
      • Schedule that includes PAID (as opposed to accrued) interest, principal, fees financed (APR) and the 3 Column Fees, as well as the Principal balance
  • In the Main window, search tool that displays the desired records based on various search criteria related to the Borrower, Creditor or Record.
  • In the the accounting report (export to General Ledger), a new tab displays the total of Debits and Credits by account.
  • For Draft users, option that allows these users to enter Notes and to Attach files to all records as opposed to only Draft records.
  • Change of certain terms in the software for better differentiation between interest and principal Accrued/Mathematical vs Paid.
    • ”Interest” becomes ”Accrued Interest”
    • ”Principal” becomes ”Mathematical Principal”
  • In the Results table, the columns whose data may be changed are now indicated with an asterisk: *.
  • Option in the Settings allowing the “Expected Pmt” to be changed to another amount when the Line status is ‘Due Pmt”.
  • In the Electronic Funds Transfer (EFT) module, new option allowing the user to change the “Expected Payment” amount for easy Outstanding amount calculation.
  • New option which allows the user to enter a payment of 0,00 instead of the automatic calculation.
  • For Mathematical Equations, many current date fields now included.
  • In the Record list (Customized) report, fields calculated on current date were added.
  • New features for Interest-only and Fixed principal calculations using Compound interest (these options were already available for Simple interest):
    • Automatic calculation of the required payment amount to pay any accrued interest and column fees first (new default method)
    • Other options for:
      • Payment of line’s current interest and column fees (previous default method)
      • Payment of a defined amount of the principal before paying the interest and column fees (not conventional method)
  • New fields in the Record List (Customized) report, Document Merge tool and in the Accounting Entries report, that can be displayed in the Main window:
    • Payments frequency that includes the frequency when payments are made every X days. Exemple : Weekly,  Twice weekly, etc.
    • Data relating to Co-Borrowers 1, 2 and 3
    • Multiple fields relating to APR and US Truth in Lending Act
    • Original principal reported only if origination date is within the reporting dates
    • Original principal plus APR Fees Financed reported only if origination date is within the reporting dates
    • Attached files (Number) for the Record and the Borrower
    • Attached files (Size) for the Record and the Borrower
  • For the United States, Electronic funds transfers (ACH) with Wells Fargo Bank (NACHA file).
  • Displays column totals in the Results table.
  • Numerical sorting (as oppose to text) in the Main MLM window of the text fields that only contain only numerals.
  • Option to add a corporate logo on the Main MLM window.
  • Improvement of the interest adjustment for the last line of a Results table (Balance = x).
  • As of version 4.0 of Margill Loan Manager, the “Computational Balance” of the last line of the Results Table will always display the balance used to compute the interest, and not, as in earlier versions for simple interest calculations, the true balance. Non-interest bearing principal, fees or others had been excluded in earlier versions and continue to be in versions 4.0 and beyond.
  • Interruption of the majority of calculations and reports by pressing Ctrl + C keys.
  • Multiple other adjustments and fixes to earlier versions.

Version 3.2 – Released February 20, 2014
(Version 3.2.140212.2)

Changes and improvements:

  • For reporting, ability for users to create their own Mathematical Equations with all of MLM’s numerical (as well as monetary and percentage) fields. For example, adding or subtracting several fields to give a total.
  • Conditional Alerts. Alerts based on mathematical conditions that are fulfilled over time. For example, a user could create an alert that would advise him when the total of the principal + interest becomes greater than the amount entered in the Maximum Credit field.
  • Ability to view upcoming Alerts as opposed to only present and historical alerts.
  • RTF Merge Fields can be inserted in abbreviated format making it easier to create documents (eg &&CAPinit&AddPrinc&& becomes |23|)
  • Location (Path) of system data (database and others) may now be located in a folder other than the Margill Loan Manager installation folder.
  • Location of the backup copy defined by the Administrator.
  • In the Post payment tool, new column to enter the “Expected payment” amount.
  • New fields:
    • Maximum Credit (Amount)
    • Interest to be paid at the next Due Pmt (as if Paid)(entire loan)
    • Principal to be paid at the next Due Pmt (as if Paid) (entire loan)
    • Outstanding – Interest portion at Report End Date
    • Outstanding – Principal portion at Report End Date
    • Computational Balance at report End Date
    • Computational Balance at 0:00 at report Start Date (excluding any transaction on that day)
  • For each reporting field (more than 350), descriptive text now included in the software (previously available in the User Guide only).
  • The borrower, creditor and employer import tool by batch (from an Excel sheet) allows the user to save an Import Format in order to reimport data at any time without the need to reconfigure the import tool.
  • Tool to find specific Line statuses (for example, find all records with the “Not set” Line status and fix this).
  • Major User Guide update to version 3.2.
  • Calculator added in the Results table.
  • Various adjustments to version 3.1.
  • Updated Licence Agreement.

Version 3.1 – Released on November 19, 2013
(Version 3.1.131119.5)

Changes and improvements:

  • Electronic Funds Transfer: Module to automatically perform regular and direct bank account debits (ACH, Pre-authorized payments) or credit card debits (in collaboration with partners in the United States and Canada). Please note: The US EFT module has been delayed after our EFT partner was acquired and the new entity could not honor the contract.
  • Option in a payment schedule to insert Fees, Insurance or Tax lines automatically based on the balance of the previous line (as a percentage) or as a fixed amount. The Fees (or other) based on a percentage of the balance, are automatically recalculated as the balance changes.
  • The Post Payment tool now allows to post Unpaid payments (thus payment = 0.00) and to post payments to any of the ten (10) custom payment types.
  • The Post Payment tool now allows to find all “Due Pmt” between two specific dates.
  • All Borrower, Employer and Creditor fields are now displayed in the table listing each (main MLM window under File). Sorting is thus possible (by clicking on header) based on criteria other than name, first name and company.
  • Basic data may be extracted (in reports) for the Co-Borrowers (Borrowers 2 and 3).
  • Borrower, Creditor and Employer data may be imported in batch from a spreadsheet (Excel format) to Margill Loan Manager.
  • Quick Print for Invoices/Statements/Contracts (RTF document merge) and for some Custom reports (directly with the “Print” button in the Record window).
  • Five (5) new “Additional Principal” Line statuses that may be named as desired.
  • Three (3) new “Paid Pmt” Line statuses that may be named as desired (so a total of 10 Paid-type Line statuses).
  • Shortcut allowing to change the majority of Line statuses to Due Pmt.
  • Option to attach a PDF Results table in a Record with one click and to send this payment schedule by email.
  • For document merges (RTF format) it is now possible to specify the margins, paper orientation and page numbering.
  • Add up to three (3) additional Record Display filters for the Main window (Record Summary). Choose among the Record’s Unlimited custom fields (Table format).
  • Unlimited (table format) custom fields default values are now automatically entered in the loan, borrower or creditor (no need to specifically check to enter the default values).
  • Field name harmonization
  • New fields in Record List (Customized) report, RTF reports (merges), Accounting Export module, and that can be displayed in the main window:
    • Loan – Number of Days
    • Loan Origination Date + 12 months
    • Additional Principal (multiple new Line statuses)
    • Record Unique ID 1 and 2
    • Creditor Unique ID 1 and 2
    • Borrower Unique ID 1 and 2
    • Co-Borrower 1 and 2 data (identification data)
    • Creditor 2 and 3 data (identification data and participation)
    • Interest paid since last Paid or Unpaid payment (multiple new fields and options)
    • Last payment (various options: date, balance, amount, etc.)
    • Balance of line for the last Paid or Unpaid payment (whole loan or period chosen)
  • Improved unlimited Custom fields (Table format). Text and text scroll menus can now take up to 1000 characters (before maximum 100). Carriage returns (paragraphs) are now also possible.
  • Log (History) of changes can now be seen for multiple records at a time and for the selected dates. New fields added in the log.
  • Two optional rights for a Read-only user: write and delete Notes and add and delete Attached Documents .
  • Notes and Attachments for Borrowers.
  • List of Record associated to Borrowers and Creditors.
  • Special calculation method for short periods (or other), “Simple interest capitalized” over 366 days.
  • Only a user with Administrator rights may delete or copy more than one record at a time in the main Margill window.
  • When producing reports, in order to avoid missing records, the number of records selected and displayed in the Main window is provided and compared to the total number of records that can be accessed by this user and the total records in the system.
  • The default Windows currency’s 3 to 5 letter Abbreviation can now be set.
  • Two new “Unique ID” fields under the loan itself, for bridging with a third-party software.
  • Transfer of multiple Borrowers, Employers or Creditors from one user to another in one operation (right mouse click, Administrator only).
  • Abnormal software shutdown by a user no longer needs to be reset by the Administrator for login.

Version 3.0 – Released 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)

  • Major new Alert module that includes four (4) types of alerts:
    • 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):
  • Grace period (days)

———-

  • Sub-status (for Active Records)
  • Sub-status (for Active Records) – Metro 2 code

———-

  • Paid Pmt (Line status = Paid Pmt)
  • Paid Late Pmt (Line status =
  • Paid Late Pmt) Partial Pmt (Line status = Partial Pmt)
  • Partial Late Pmt (Line status = Partial Late Pmt)
  • Add. Pmt (Line status = Add. Pmt)
  • Returned Checks Paid (Line status = Paid Pmt Returned Check )
  • Balance Total Unpaid portions (Unpaid, Partial, Returned checks)

———-

  • Outstanding (balance) Start Date entered
  • Outstanding (balance) End Date entered
  • Outstanding Paid (for the period)

———-

  • Principal paid Year to date

———-

  • Detailed lines (for the period)(RTF report only)
  • 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)
  • Maximum file size attached to a record now up to 2 Meg (was 1 Meg in version 2.1).
  • Backup of the software and the database now in Tools.
  • Shortcut summaries with F2.
  • Link to check Internet connection (Tools, Settings)
  • Menu button changes and optimization.
  • Various other fixes and process optimization.

    Version 2.1 – April 12, 2010
    (2.1.100412.1)

    • Improved Line status navigation (simplified constraints)
    • Various adjustments of version 2.0 which was a major update

    Version 2.0 – February 9, 2010
    (2.0.100209.1)

    • New custom data fields (unlimited number) that may be included in Record List (Customized) report.
    • Multiple currencies within the same portfolio.
    • In Record List Customized, conversion of various currencies based on exchange rate to selected base currency or to any other.
    • Unique log on by the same user name.
    • Record access blocked to one user. Other users in read-only.
    • Multiple new Line statuses:
    • Fees paid
    • Fees 2
    • Fees 2 paid
    • Fees 3
    • Fees 3 paid
    • Invoice paid
    • Penalty
    • Penalty paid
    • Insurance
    • Insurance paid
    • Taxes
    • Taxes Paid
    • Investment
    • Investment withdrawal
    • Deposit
    • Other 4
    • Other 5
    • Adjustment
    • Information
    • Not set
    • New data integrity constraints (takes into account Line status and the amounts indicated for these payments as well as logical parameters).
    • For accounting: actual paid interest, due interest, refunded principal, due principal (if Line status = Paid pmt, Partial pmt or Late pmt, Add. pmt) can now be obtained easily.
    • Over 10 new columns in the Result table offering additional information (for example: balance prior to payment, interest paid, principal paid, scheduled payment date, different balances, etc.).
    • Column identifying the minimum payment to be paid.
    • Optional adjustment on Payment as opposed to preset Fixed principal amount or interest portion for an Interest-only payment. Multiple new refunding options particularly fro SImple interest calculations.
    • Automatically calculated fixed principal refund amount to yield balance = 0.00 or X.
    • Multiple (over 40) new data elements in Record List (Customized) report and RTF reports (merge):
    • Current date

    ———-

    • Amortization period less 1 payment
    • Amortization period less 2 payments
    • Interest rate (nominal end effective) quoted on a monthly basis

    ———-

    • First Payment Amount (> 0.00)
    • First Payment Date (Pmt > 0.00)
    • Last Payment Amount (> 0.00)
    • Last Payment Date (Pmt > 0.00)

    ———-

    • Currency – Symbol
    • Currency – Abbreviation

    ———-

    • Fees Paid (Line Status = Fees Paid)
    • Fees 2 (Line Status = Fees 2)
    • Fees 2 Paid (Line Status = Fees 2 Paid)
    • Fees 3 (Line Status = Fees 3)
    • Fees 3 Paid (Line Status = Fees 3 Paid)
    • Adjustment (Line Status = Adjustment)
    • Invoices Paid (Line Status = Invoice Paid)
    • Insurance (Line Status = Insurance)
    • Insurance Paid (Line Status = Insurance Paid)
    • Tax (Line Status = Tax)
    • Tax Paid (Line Status = Tax Paid)
    • Penalty (Line Status = Penalty)
    • Penalty Paid (Line Status = Penalty Paid)
    • Investment (Line Status = Investment)
    • Investment Withdrawal (Line Status = Investment Withdrawal)
    • Other 4 (Line Status Other 4)
    • Other 5 (Line Status Other 5)

    ———-

    • Princ. (original) + Add. Princ. (Line Status) up to End Date entered
    • Accrued interest from last Payment
    • Date of last Pmt tagged as “Paid” (Line status = Paid Pmt, Paid Late Pmt, Partial Pmt, Partial Paid Pmt or Add. Pmt)
    • Accrued interest – Year to date Paid interest – Year to date
    • Minimum Payments (Total for the period)
    • Next Due Minimum Payment
    ———-
    • Paid Interest (for the period) Paid
    • Principal (for the period)
    • Balance Due Principal
    • Balance Due Interest
    • Balance all other

    ———-

    • Doubtful Accounts (%)
    • Doubtful Accounts (Date from Record)
    • Doubtful Accounts (Balance from Record date)
    • Doubtful Accounts (Balance from Report date)
    • Bad Debt (Date) Bad Debt (Balance)
    ———-
    • APR – Total Principal + Total Cost (Interest + Fees)
    • Comment may be added for each payment line directly in the Payment update tool.
    • Record Attachment notification (paper clip image).
    • In Record List (Customized) report, multiple CSV “pure” date formats and export to Excel with or without currency.
    • Telephone number now in the Loan Summary window (main window) in order to sort by phone number
    • Major database optimization for larger loan portfolios (1000-5000 Records)
    • Borrower first and last names and company name in Record window header (for easier identification).
    • One less step when saving and replacing a Record.
    • Multiple other “behind the scenes” improvements and adjustments.

    Version 1.4 – March 16, 2009
    (1.4.090316.1)

    Version 1.4 includes mutiple new components the main ones being : custom reports, reports between two dates, invoice and statement module, new custom fields and read-only user

    Changes and improvements since version 1.3:

    • Nine (9) new customizable fields in Borrower (fields may be text, monetary, percentage, numerical or date)
    • Document management – attach documents to a specific Record
    • Read-only user
    • Record access limited to own records if desired
    • Data integrity tool that checks to see if line status is appropriate for a positive, negative or 0.00 payment
    • Forced “Additional Principal” line status to be negative
    • Custom invoices and statements (including tax reports – IRS 1098 for example)
    • Reports:
      • Reports for a user-defined period (monthly, quarterly, yearly, etc.) using start and end dates
      • User-created custom Record lists that may be saved to Excel, CSV or TXT formats and then exported to third party software (accounting, pre authorized payment system, etc.)
      • For detailed reports, system number now on each page for quick identification
      • For invoices and statements and other data merges (RTF Editor) option to save as one RTF file, one RTF file with x number of records per page or multiple files (including system numbering)
    • Balance = 0.00 not checked unless specifically checked by user
    • Alt-2 shortcut to select, in the payments schedule, one line out of every two lines (to have payments only every second month for example)
    • In the main MLM window (Record Summary window) and in the payments schedule, Alt- shortcut to increase font size and Alt- to reduce the size.
    • Change of name from Actuarial Method to Effective Rate Method
    • Multiple changes and adjustments from version 1.3

    Version 1.3 – March 20, 2008
    (1.3.080320.1)

    • Payment update tool
    • Various adjustments from verison 1.1

    Version 1.1 – May 25, 2007
    (1.1.070525.1)

    • Release of the Margill Loan Manager

Release notes not available before 2007