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planEASe Commercial Real Estate Software > planEASe Software Version History 1982 to the present > Details of Current Version 15

# Details of Current Version 15

## planEASe Software Details of Current Version 15

**Enhancements**

15.00 EnhNew Training CD |
All the movies have been completely remade to be 800 X 600 with captions. Click here to open a PDF of the movie titles and times. |

15.00 EnhPerspective
to your graphs
WatchMovie (2.2MB) |
If you have the Graphics Extension, you may now add by using the new scrollbars you see at the left
(chart or graph) and bottom (graph only) of the graph/chart window.
Vertical Perspective allows you to look down at the top of the graph
from above , or up at the graph from below, by rotating it on an
invisible horizontal axis. Likewise, Horizontal Perspective allows you
to look at the graph from either the left or right side by rotating it
on an invisible vertical axis.Perspective
to your graphsFor all graphs and charts, perspective is automatically turned Off when
first viewing a Chart or Graph. You may turn it On by clicking
the Off Button at the bottom right of the window. Turning it
Off at any time will eliminate all Perspective and return the
Chart or Graph to its appearance before Perspective was applied.You add Perspective by sliding the scrollbars to the desired position when the bottom/right Button says On. After you have added Perspective,
and while it is shown, printing the Graph/Chart will show your
Perspective in the printed graph/chart. Adding Perspective may only be
performed with graphs/charts when the
checkbox has been checked. Likewise, the 3D
display is not compatible with graphs shown in Perspective. Therefore,
#'s is automatically turned on when you turn
the Perspective Button 3DOn, and is
automatically turned off. When you return the Perspective Button to #'s
Off, these controls are returned to their former settings.You may edit and export graphs and charts, as discussed in those sections of the documentation. All settings discussed here, including Perspective, will be shown on exported graphs/charts. |

15.00 EnhNew Dialogs now
Resize
WatchMovie (1.8MB) |
The Market Profiles, Reimbursements, Unit
Sales, and Development Spending Dialogs now resize to slightly less than
the size of planEASe automatically, so if you are looking at planEASe in
a full-screen mode, the dialog will now be just slightly less than full
screen rather than the small size shown in previous versions. New Dialogs
now Resize |

15.00 EnhLease Analysis
function Graphs have been enhancedWatchMovie (1.9MB) |
The
by adding the Reimbursements and Percentage Rent (if and as shown in the
time grid) to the Graphs under the Analysis/Lease Analysis function Graphs have been enhancedLease View. |

15.00 Enhto the Graphs in the Income StatementsAdditions/Overlay
WatchMovie (4.3MB) |
We have added to the Graphs in the
Income Statements. This gives you the capability to add two or more
items within the same graph, and overlay another item within that same
graph. This new capability enables you to structure more than 1,000,000
Additions/Overlay (yes, we mean this) different graphs (not all are
meaningful) just from within the Income Statements function. |

15.00 EnhQuarterly
Reporting and Quarterly Graphs
WatchMovie (3.5MB) |
With version 15, if you own the Monthly Extension, we have added Now, anytime you are
looking at a Monthly or Annual Report, you have the choice to view the
same report on a Quarterly basis. This is true for all Basic, Detail and
Lease Analysis reports, as well as all Income Statements and Annual
Statements. Quarterly Reporting is typically most useful in Unit Sales
analysis, where it has become a standard for appraisal reports.
Quarterly Graphs are almost as simple. In Basic and Detail Analysis, you
can change Time Modes even while viewing a (monthly or annual) graph by
pulling down the new Quarterly
Reporting and Quarterly Graphs.Period menu (see below) and choosing
Quarterly. In Lease Analysis and Income/Annual Statements, you must
return to the report, change the time mode to Quarterly there
(with the new Period menu) and click on the Graph button to see
the Quarterly graph. |

15.00 Enh
INSTANTLY switch from (Monthly,
Quarterly, and Yearly) |
Before version 15, you had to return to the Assumption Edit Screen to change between
Monthly and Yearly modes. With version 15, if you own the Monthly
Extension, you now have a menu item named Period in Basic
Analysis, Detail Analysis, Lease Analysis, Income Statements, and Annual
Statements. The Period Menu item gives you the choice of three
views (Monthly, Quarterly, and Yearly), and
the report you are viewing changes to the chosen time mode . These views are available in all planEASe
models RUI, RUM, RSA, RPI, RPM, RPR, RPF. If you are in Quarterly or
Monthly Mode, the
INSTANTLYPeriod menu also allows you to add Yearly
Totals instantly (this choice has been re-located from the
File/Preferences Dialog in earlier versions). |

15.00 Enh
We now
always use Monthly Cash
Flows for IRR's and NPV'sWatchMovie (2.3MB) |
In planEASe prior to version 15
the time mode (Monthly/Yearly) not only reflected what type of cash
flows would show in the report, but also what the timing would be in the
IRR's and NPV's. Time value of money returns like IRR really depend on
two factors: We now
always use Monthly Cash
Flows for IRR's and NPV's.how much cash flow occurs, and when that
cash flow takes place. A calculator (and the normal IRR in Excel) uses
an End of Year time line, meaning the only time Cash Flows occur is on
Dec. 31^{st}. Prior to version 15, planEASe used a process
called the mid-year convention to move the Cash Flow to the middle of
the year. This works remarkably well to get close to the more accurate
monthly IRR if the cash flows are not too irregular. It is also much
faster than a monthly IRR, which was very important with slower
computers. Use of two different methods of timing for the IRR's, etc. has gotten to be more and more of a problem with the additions of Development, Reimbursements and Market Profiles, which much more accurately depict the irregular cash flows of real estate. In some cases (particularly development projects), there is a significant difference between the more accurate monthly IRR and the mid-year convention IRR. Therefore, in planEASe versions 15 and forward, all IRR, NPV and other time value of money measures are calculated on a monthly (mid-month, specifically) basis. So no matter which Period
view you are looking at, all the IRR's, etc. will be the same. There is
a slight slowdown in the visible calculation time, but with today's fast
computers you will not notice a difference. |

15.00 Enh
Measure
Terminology Updated |
. Since 1982, when the first copy of
planEASe was sold, financial language has evolved. planEASe has been
updated every year since 1982, and this year we have decided to update a
couple of the language labels associated with time value of money
returns. Specifically, we have eliminated the term FMRR in favor of MIRR,
in response to Microsoft Excel and other sources within the financial
literature using the term Modified Internal Rate of Return (MIRR) rather
than Financial Management Rate of Return (FMRR). The two measures are
and always have been the same.
We are also eliminating the
current Accumulation of Wealth (AoW) measure in favor of Capital
Accumulation (CpA), in response to the CCIM Institute changing the term
in their courses. We put this measure in for CCIM in the first place. Measure
Terminology Updated |

15.00 EnhplanEASe Utilities/Cash Flow Analysis
IRR Verification with XIRR |
You can verify the time value of the money measures in planEASe, the IRR
and the NPV, against the XIRR and the XNPV in Microsoft Excel. Microsoft
Excel has two different IRR measures, the IRR and the XIRR, that it will
calculate. The IRR is a time value of money measure. The Microsoft Excel IRR is an "End of Year" IRR. This "End of Year" IRR checks for money collected once at the end of each year. This process does not look at real years but places the values in equal periods and the periods are equal to 365 days. The Microsoft Excel XIRR is an "End of Day" IRR. According to Microsoft Excel: "Microsoft Excel stores dates as sequential serial numbers so they can be used in calculations. By default, January 1, 1900 is serial number 1, and January 1, 2008 is serial number 39448 because it is 39,448 days after January 1, 1900." Since this process counts the actual calendar days, most of the years are 365 days long, but the leap years are 366 days long. Importantly, the Microsoft Excel XIRR checks for cash flows at the end of each day. Microsoft Excel Help explains the difference between XIRR and IRR functions: "XIRR Returns the internal rate of return for a schedule of cash flows that is not necessarily periodic. To calculate the internal rate of return for a series of periodic cash flows, use the IRR function." Since almost every commercial real estate analysis has non-periodic, or irregular, cash flows it is logical to use a process that counts the cash flows at the end of each day such as that used by the Microsoft XIRR. The planEASe Utilities Cash Flow Analysis uses the exact same process as the XIRR and XNPV. You can export the cash flows that create any IRR or NPV in the planEASe Utilities Cash Flow Analysis into Microsoft Excel and verify the planEASe IRR and NPV measures. The movies below show how to do the verification. |

**Bug Fixes**

15.00 Bug | In Basic/Print/Save
as Web Page, if you saved Print All Pages, the resulting
file read into Internet Explorer and Microsoft FrontPage correctly.
However, other Microsoft products such as Word and Excel only read the
first page correctly, ignoring the other pages. Interesting, that ... I
guess we must test an interface with each and every Microsoft product,
since they obviously read the same file differently!!!!! Our thanks to
John Daniel, CCIM for his report, and particularly to Bill Gates for the
added challenge. Introduced in Version 8 and fixed in version 15. |