planEASe Software Version 15 - 2006
Major new items are: add Perspective to your graphs, Quarterly Reporting, Quarterly Graphs, always use Monthly Cash Flows for IRR's and NPV's.
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Fixed |
Class |
Description |
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15.00 |
Enh |
If you have the Graphics Extension, you may now add Perspective
to your graphs 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.
For 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 3D
checkbox has been checked. Likewise, the #'s display is not compatible with graphs shown
in Perspective. Therefore, 3D
is automatically turned on when you turn the Perspective Button On, and
#'s is automatically
turned off. When you return the Perspective Button to 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.
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15.00 |
Enh |
New Dialogs now Resize 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. |
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15.00 |
Enh |
The Analysis/Lease Analysis
function Graphs have been enhanced
by adding the Reimbursements and Percentage Rent (if and as shown in the time grid)
to the Graphs under the Lease View. |
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15.00 |
Enh |
We have added Additions/Overlay
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 (yes, we mean this)
different graphs (not all are meaningful) just from within the Income Statements
function. |
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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. |
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15.00 |
Enh |
With version 15, if you own the Monthly
Extension, we have added Quarterly Reporting and Quarterly Graphs. 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 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. |
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15.00 |
Enh |
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 INSTANTLY. These views are available in all
planEASe models RUI, RUM, RSA, RPI, RPM, RPR, RPF. If you are in Quarterly or Monthly
Mode, the Period menu also allows you to add Yearly Totals instantly
(this choice has been re-located from the File/Preferences Dialog in earlier
versions). |
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15.00 |
Bug |
Version 14 included Closing Costs in the
adjusted denominators of the new Adjusted Ratios (Adj. Capitalization Rate and Adj
Cash on Cash both before and afer tax) as well as the Accounting ROR before and
after tax, thereby understating them slightly. Introduced in version 14 and fixed
in version 15. |
|
15.00 |
Bug |
Several Users reported situations where the
Adjusted Cash on Cash measures were erroneously reported as "N/A" or used erroneous
denominators. Introduced in version 14 and fixed in version 15. |
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15.00 |
Enh |
We now always use Monthly Cash Flows for IRR's and NPV's. 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: 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. 31st. 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.
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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.
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15.00 |
Enh |
In order to remind you that you are working
in Fiscal Year Mode, whenever the Fiscal Year Starts on field in the Assumption
Set Specifications Dialog has been set to something other than the Default Jan 1,
the year number in the report headings are now preceded by a "fy", as in fy2003.
Also, in accordance with standard notation, when denoting a fiscal year, the year
number shown is now the year of the last month in the fiscal year. |
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15.00 |
Bug |
In Annual Statements, the Operating Expenses
Charts did not display a legend. Introduced in version 11.00 and fixed in version
15. Not reported. |
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15.00 |
Enh |
In Edit/Transfer Pages, in addition
to not allowing transfer of Unit Sales and Development Spending Pages, you are not
allowed to delete them. |
|
15.00 |
Bug |
In Annual Statements, if reimbursements were
shown separately, and if they were specified to be shown in detail, the Gross Income
and Vacancy amounts double counted the reimbursements, though Effective Income and
all amounts below Effective Income were correct. Introduced in version 14.00 and
fixed in version 15. Not reported. |
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15.00 |
Bug |
In Tenant/Owner Rep (Price Of Property set
to 1 or 2), One-Time Revenues at Acquisition (Revenue Start Date=0) were not taxed.
Not Reported. |
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15.00 |
Enh |
In Utilities/Cash Flow Analysis
we have changed the IRR and NPV formulas to us a 365 day year (rather than the previous
365.25 day year accounting for leap years). This change allows us to match the calculations
for the XIRR and XNPV functions in Microsoft Excel.
The method of using End of Year timing for
the time value of money used by calculators and the IRR and NPV formulas in Excel
can very misleading and incorrect in regards to real estate. Years ago, Microsoft
Excel added the XIRR and XNPV processes to take account of cash flows that are not
necessarily periodic. planEASe has been using a process to take account of these
not necessarily periodic cash flows since 1982 the Monthly Extension was released
in 1987.
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15.00 |
Enh |
In Utilities/Cash Flow Analysis
we have added a choice to convert imported cash flows to End of Year when (and only
when) the Acquisition Date is 1 January and the Holding Period is an integer number
of years.
There are times when you will need to compare
the cash flows and calculations in planEASe to homemade spreadsheets that have not
used the XIRR and XNPV functions, but rather have used the IRR and NPV functions.
This option allows you to check the calculations in such spreadsheets.
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15.01 |
Bug |
If edited, Reports/RentRoll Charts
were denominated in dollars rather than square feet. Not reported. Introduced in
version 15 and fixed in 15.01. |
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15.01 |
Enh |
The Edit Graph Dialog has been enhanced to
show the new graph Overlay Data as well as the new Additions in the Income Statements.
Additionally, many minor errors in the new Overlay and Additions graphs have been
fixed. |
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15.01 |
Bug
Enh
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If you attempted to graph an item when the
Holding Period was set to 1 year and the first year was a full 12 months, you would
get a trapped Error 13 (type mismatch) in Graph Preparation. As a result of the
fix, you now will be able to produce one-year graphs and get better X-Axis Titles
in all graphs. Thanks to Bill Allen, CCIM for the report. Introduced in version
15 and fixed in 15.01. |
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15.01 |
Bug |
If you had a first year of exactly 12 months,
the Income Statement did not produce the Sale Proceeds Section of the Income Statement
for the first year, whereas it did in earlier versions. Shorter first years continue
to not produce Sale Proceeds, since the minimum Holding Period is, and has been,
1 year. Thanks again to Bill Allen, CCIM for the report. Introduced in version 15
and fixed in 15.01. |
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15.01 |
Bug |
If you are using the Fiscal Year capability,
some combinations of Acquisition Date and Fiscal Year Starts values resulted in
the Fiscal Year Number being one year too big. .... In an unprecedented trifecta,
thanks again to Bill Allen, CCIM for the report. Introduced in version 15 and fixed
in 15.01. Attaboy, Bill!!! |
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15.01 |
Bug |
If you were using Market Profiles, the Source
of Gross Income Chart in Reports/Annual Statements lacked a legend. Not
Reported. Introduced in version 12 and fixed in 15.01. |
|
15.01 |
Bug |
In the Development Spending Dialog, if you
specified the Permanent Loan Prepayment Penalty to be a % of the Loan Balance, it
was converted to a dollar value when converted to the Assumption Set. Introduced
in version 11 and fixed in 15.01. Thanks to Mark Larsen, CCIM for the report. |
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15.01 |
Bug |
In Utilities/Cash Flow Analysis,
the new Import Cash Flows .../Convert to Year- End Cash Flows option rounded
the Monthly Cash Flows before converting them to Year-End rather than adding them
first, then rounding, resulting in an occasional 2 to 6 dollar error. Introduced
in version 15 and fixed in 15.01.
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15.01 |
Bug |
Construction Draw Interest was inadvertently
subtracted from the Investment Base for the Adjusted Cash on Cash Before and After
Tax in the Income Statement. Thanks to Allen McDonald, CCIM for the report. Introduced
in version 15 and fixed in 15.01. |
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15.01 |
Bug |
In Utilities/Exchange Recap, the
screen would scroll when editing the Buyer Column of a 3 party exchange. Introduced
in version 15 and fixed in 15.01. Discovered during the Baltimore MiniCamp. |
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15.01 |
Bug |
In Lease Analysis Lease View or
Tenant and/or Owner Rep Assumption Sets, if you clicked on the PV View Button, an
Error 9 occurred. Introduced in version 15 and fixed in 15.01. Thanks to Paul Antonuccio
for the report. |
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15.01 |
Bug |
In both Sensitivity and Risk Analysis, if
your graph was presented in 3D and you requested another analysis by pressing the
Another button, the graph of the resulting analysis was converted to 2D.
Introduced in version 15 and fixed in 15.01. Not Reported. |
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15.01 |
Bug |
In some few Assumption Sets, use of the Reimbursements
Dialog would cause a trapped Error 9 to occur during Computations. Introduced in
version 15 and fixed in 15.01. Thanks to Robert Rourke for the report. |
|
15.01 |
Bug |
In both the Development Spending and Unit
Sales Dialogs, if you requested the Cost Summary or Bill of Materials reports immediately
on entering the dialog, the column widths were wrong. Subsequent requests were sized
correctly. Introduced in version 15 and fixed in 15.01. Thanks to Bill Harwell,
CCIM for the report. |
Major new items are: add Perspective to your graphs, Quarterly Reporting, Quarterly Graphs, always use Monthly Cash Flows for IRR's and NPV's.
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