ARGUS Developer v Product Release Notes Document Version 1.02 August 7th, 2014

Transcription

1 ARGUS Developer v Product Release Notes Document Version 1.02 August 7th, 2014 ARGUS Software An Altus Group Company

2 Error! Unknown document property name. Release Notes for ARGUS Developer v August 7th, 2014 Published by: ARGUS Software, Inc Post Oak Boulevard Suite 900 Houston, Texas Telephone (713) Facsimile (713) Information in these release notes is subject to change without notice and represents no commitment on the part of ARGUS Software. These release notes are copyright 2014, ARGUS Software. All rights reserved. These release notes are a confidential and proprietary trade secret of ARGUS Software and its licensors, made available only under a license containing obligations of confidentiality. Information in these release notes is subject to change without notice. "ARGUS Software" is a trademark of ARGUS Software, Inc. All other trademarks and registered trademarks are property of their respective companies. 2 ARGUS Software An Altus Group Company

3 ARGUS Developer v Introduction... 4 Purpose... 4 Scope... 4 Compatible Platforms and Products... 4 System Requirements... 4 Known Issues in v Enhancements Introduced in v Defects Fixed in v Defects Fixed in v Defects Fixed in v ARGUS Software An Altus Group Company 3

4 Purpose Introduction Error! Unknown document property name. The purpose of this document is to communicate enhancements, modifications, known problems and ways to work around them for the release of ARGUS Developer v Scope This document describes the release of ARGUS Developer v Compatible Platforms and Products This product has been verified to install and operate on the following platforms (or with the following products): Desktop Operating Systems Windows XP Windows Vista Windows 7 Windows 8 System Requirements The following represents minimal supported system requirements for use of ARGUS Developer v Client PC Requirements Memory: At least 1 Gb of RAM (2 Gb for Vista/Win 7) Hard Drive: At least 500 megabytes of hard disk space Processor: 1.5 GHz or faster Display: SVGA 1024 x 768 colour monitor Microsoft Excel Export and Import Requirement MS Excel 2007 or higher For the Excel New Analysis Reports MS Excel 2010 or higher Whilst ARGUS endeavours to correct known issues, software is provided "as is" without warranty of any kind, express or implied. In no event shall ARGUS be held liable for any direct, indirect, incidental, special or consequential damages arising out of the use of or inability to use this software. ARGUS recommends that clients check new versions in a test environment before releasing to their users. ARGUS will provide test licenses to all clients under support who wish to upgrade to the new version. 4 ARGUS Software An Altus Group Company

5 The following are known issues in this release. Known Issues in v Item Description Workaround VAT on Revenue collected as part of sales proceeds calculates as positive receipt rather than cost Reserve Account Balance is negative at the end of the cash flow Unable to switch off letting cost on renewal of lease Debt being called when there is sufficient Reserve balance near the end of project Line entry is duplicated in finance cash flow when using Equity / JV finance Profit Warning on Appraisal Summary when Project Funded Interest is present For a New Project, Export to Excel is throwing error message in Windows Structured finance not showing all finance structures in Phase Group Box Where a phase does not have any timescale entered, the program does not automatically allocate a default phase length of 12 months. If there are any costs or revenues entered, this could affect the calculation of interest when looking at the individual phase. The merged phases view is unaffected As this VAT tax is a pass through, and Developer does not currently tie the receipts of tax collections to the eventual tax payments, it is suggested that the amounts be entered as 0.01 as a placeholder Try restricting the distribution of profit from the reserve account until the final project cash requirement None - the option works on both first term and renewal terms None Delete the sources and then re-enter the data Various reasons for this - see other Document None Ensure that only one Structure has All Phases linked to it Enter 12 months duration for the phase either in the Construction or the Sales stages Reserve Account can become over-drawn None EVariantTypeCastError seen in Timescale & Phasing when entering a "-" into the Offset field EVariantTypeCastError seen in Developer s Profit when entering a "-" into Developer s Profit field Ensure a number is entered immediately after - sign Ensure a number is entered immediately after - sign ARGUS Software An Altus Group Company 5

6 54550 EVariantTypeCastError seen in VAT editor when entering a "-" into the Global VAT Rate field EVariantTypeCastError seen in Sensitivity Analysis when entering a "-" into the Step amount field and clicking anywhere else EVariantTypeCastError seen in Sensitivity Analysis when entering a "-" into Manual Fixed Steps field Methodology for calculating how the interest is broken down into Land/Construction/Letting Void/Other needs to reflect current practice In the Cash Custom editor, an Invalid Type Casting error is displayed when adding a New Group with the name left blank If the system date format is changed on your PC, an Access Violation is seen when trying to launch the application List Out of index exception is displayed in the Sales Contract editor when the user performs Move Up following the creation of more than one contract When selecting the Repay Balance functionality on a Timed Repayment Line in the Cash, an outstanding balance still remains. Ensure Error! a number Unknown is entered document immediately property after name. - sign Ensure a number is entered immediately after - sign Ensure a number is entered immediately after - sign None Ensure a name is entered for the New Group Do not change your system date format None Manually enter a value into the Timed Repayment Line to ensure outstanding balance is 0 6 ARGUS Software An Altus Group Company

7 Enhancements Introduced in v [These enhancements will be only available to users on an up to date service plan. Please contact ARGUS Software for more details] Area Description Type Excel Integrated Analytics Enhanced Structured Enhanced Structured Improved the export of ARGUS Developer data into a fully integrated Excel workbook which provides additional reports, dashboards and the building blocks to create custom reports. In addition, one-click update, linked custom reports stay dynamic to changes made in ARGUS Developer Examples of reports, dashboards and data tables: Dashboard and Reports Phase Dashboard Dashboard Executive and Project Overview Dashboards Cash Report Tables Phases Table Financing Structures Table Equity & Debt Sources Table Mortgage Table Sales Units and Capitalized Areas Tables Added the ability to model Loan Contributions on the following basis: Interest only loans reverting to capital and interest repayments on a specified date Shortfalls in mortgage payments picked up by any finance source Added the ability to model Repayments of Capital on the following basis: Delay the repayment of capital and loans using the Earliest Repayment Date per finance source Repay capital and loans in full on a specific date per finance structure Reporting Modelling Modelling ARGUS Software An Altus Group Company 7

8 Enhanced Structured Added the ability to model Mortgages on the Error! following Unknown basis: document property Modelling name. Create multiple mortgages Specify the tenants/properties used to finance the mortgage repayments Select the basis on which each mortgage can be calculated independently of any other Calculate the mortgage based on a target Debt Service Coverage Ratio Calculate the annual income from the sum of Net Operating Income over first 12 months of the mortgage Enhanced Structured Added the ability to model Profit Distributions on the following basis: Distribute profit to a General Partner using the Catch-up method Distribute profit from a General Partner to investors using the Clawback when their preferred return or other hurdle rate has not been met Modelling 8 ARGUS Software An Altus Group Company

9 Defects Fixed in v Item Area Release Description Type Structured In some circumstances, extending the cash flow to the length of the mortgage amortization period generated an error in the Project Cash Reports When viewing the Funding Source Report in any periodic cycle other than monthly, the closing balance is incorrect Sensitivity Analysis Project Summary Cash Structured Project Cash Excel Analysis Report Structured Sensitivity Analysis results are not calculated for Operated Assets when Monthly Rates have % step type parameters applied Geared IRR calculation still includes interest costs though these have been set to be excluded The Total Revenue line is not displayed correctly when switching the Type from Basic (with interest sets being applied to all lines) to Structured The Reserve account is out of balance due to the Promote being calculated incorrectly when there is more than one IRR lookback in the same distribution order Cannot copy and paste from Excel into the Project Cash when formatting characters are present in the copied cells The Excel Analysis report displays a discrepancy in the Profit Analysis when Assumptions>> Include interest and Fees in the IRR calculation is unchecked The Financing tab showed an amount in the Fixed Contribution cell this is now removed Reports Total Sources of Capital and the Total Uses of Capital are not equal on the Sources and Cash report when mortgage fees are excluded Definition When copying and pasting text sentences (not an individual word) from editors, error message is displayed Structured Promote being calculated incorrectly when there is more than one Equity Multiple in the same distribution order Display ARGUS Software An Altus Group Company 9

10 Error! Unknown document property name. Item Area Release Description Type Structured When creating a new Source of Funds, it is not available as a Source of Funds in the Profit Distribution tab 10 ARGUS Software An Altus Group Company

11 Defects Fixed in v Item Area Release Description Type Project Cash Multi-Unit Sales Under Custom Grouping, when creating a New Group without inputting a name an Invalid Type cast error is seen In the Sales Contract editor, a List index out of bounds (-1) occurs when trying to 'Move Up' or 'Move Down' the sales contracts Ribbon Bespoke context tab is displayed on initially opening the application Performance Measures Project Cash On selecting Print/Preview/PDF option from the pop-up menu and an equity source name is left blank, instance expected error is displayed When the Project Cash is grouped by Block & Phase, the Professional Fees section is displayed as Architect Platform When using North American dictionary, the following are displayed incorrectly: Summary instead of Proforma Yield% instead of Cap Rate% Definition Cancelling any additions to one of the Definition editors results in an Access Violation when clicking No to Save Changes Platform Saving a.wcfx file as.wcf file then loading this file, displays an error message Could not load Cash data Project Cash From the Project Cash, cancelling any additions to a pop-up editor results in an Access Violation when clicking No to Save Changes Platform After deleting an Area in the Unit Sales window, an Access Violation occurs when closing the application Platform After making changes in the Area Schedule, on exiting the application, no prompt to Save is seen Definition Entering a - sign in the Offset field of Distribution displays a variant conversion error Structured When a new Structured group is created, a validation error is shown : Mortgage name can t be empty ARGUS Software An Altus Group Company 11

12 Error! Unknown document property name. Item Area Release Description Type Definition In the Additional Revenue editor, a List index out of bounds (-1) occurs when trying to 'Move Up' or 'Move Down' the additional revenue lines Structured In the Mortgages tab, a List index out of bounds (-1) occurs when trying to 'Move Up' or 'Move Down' the mortgages Platform Stream write error occurs when exporting to RTF format using Citrix receiver environment Definition In a definition editor, the Related Item Selection editor displays the incorrect category name Project Cash List Index out of Bounds error is shown in the Project Cash when the Copy Row command is clicked after deleting rows Platform Checker shows a cash flow error when a project created in any version prior to 6.50 is updated by adding new capitalised rent records Definition In Unit Sales editor, an Access Violation occurs when deleting an area record after selecting the sales line item from the Project Cash Checker When a phase which produces an Error on the Checker is deleted, an Access Violation occurs Export Project Cash Timescale & Phasing Cash items in the Project Cash are not in the same order as earlier versions of ARGUS Developer After adding a phase to the Quick Access Tool Bar any subsequent phases added to it will display a List Index out of Bounds error Definition In any Definition editor, when the Relation Type is Rate/Unit and applied against selected phases, an Access Violation Error occurs when one of the phases are deleted Project Cash An unhandled exception occurs when Clear Fixed Interest from current period is selected when focused on the Basic section of the cash flow Definition List index out of bounds occurs when moving a capitalised rent schedule from one phase to another 12 ARGUS Software An Altus Group Company

13 Defects Fixed in v Item Area Release Description Type Summary In the Summary Appraisal/Proforma report, the Acquisition Costs total is not displayed in the Total s column when a Negative Land Allowance is present System Configuration In Folder Locations, unable to select a network location for the System Templates option using the browse button Checker The Checker erroneously states that a Mortgage has been timed after the last period in the Phase Group Project Cash When selecting Cost Codes to assign to rows, it is not possible to delete the selection Unit Sales Once the first unit is sold, the Unsold Unit Fees are not calculated on the remaining unsold units Summary Summary Appraisal/Proforma report not consistent in its display of the currency symbol Summary Summary Appraisal/Proforma report does not have a blank line to separate Sales totals from the Purchaser's Costs/Sales Fees Summary On the Summary/Proforma report, a heading for Additional Revenues/Costs is shown when there are no additional revenues or costs entered Summary On the Summary Appraisal/Proforma report, there is no formatting to identify the Construction Totals Summary On the Summary Appraisal/Proforma report, there is no formatting to identify the Gross and Net Development values Summary On the Summary Appraisal/Proforma report, the subtotal is not shown for Purchaser's Costs deducted from Revenue Reports The figures in the structured finance cash flow and the Net Operating Income report did not match when viewed on an Annual basis Templates Mortgage s Project Cash Cash When value is spread, it does not total 100% when Maintain 100% check box is selected in Distribution The Non-Mortgage Interest row is displayed twice in the : Combined Sources section ARGUS Software An Altus Group Company 13

14 Error! Unknown document property name. Item Area Release Description Type Definition Access Violation error occurs when user is trying to paste a long text string in the Heading field on Fixed Price editor window Timescale & Phasing Access Violation error occurs when user enters negative value in Offset column then moves to another tab Reports In the Net Operating Income report, Rent Additions are duplicated in the Rent Costs section, reducing the total shown for Rent Costs Summary Decimal places are not displayed for the Construction Cost Rate in the Summary Appraisal/Proforma report Project Cash In the Distribution window, the red highlight box on the graph is not synchronised when scrolling across the data grid Reports Project Cash report does not include the deduction for the mortgage principal payments before the Net Cash after Debt Service line Structured Capitalized Rent Cash In the Profit Distribution tab, profit should be equally distributed for both sources of funds when the % Allocation of Funds in order is equal (i.e. 50%/50%) Opening of Stepped Rent Profiles editor appears to be half-initialised and makes the application freeze The Summary By Source view does not calculate the After Tax Equity IRR when a tax rate is entered Definition Costs specified as Rate/Acre in the Additional Related editor are displayed as Rate/pf 2 in the Appraisal/Proforma report Platform Unable to open Argus Developer file - Error Message: A name contained an invalid character Reports Total Construction Estimate row is not displayed on Elemental Cost Summary Report VAT On opening editor, initial focus should be on first field of the grid, not on list box for phases Reports Structured If a Phase Group setup is invalid, the validation fails to run and the setup is saved Validation 14 ARGUS Software An Altus Group Company

15 Item Area Release Description Type Cash Structured Multi-Unit Sales Multi-Unit Sales Sensitivity Analysis Capitalized Rent When the view cycle is set to Annual and the view order is set to Summary of Structures by Source, column totals are missing for Total Repayment and Net Cash (IRR), Closing Balance and Cumulative Net Cash Access Violation error occurs while deleting a finance structure Access Violation error occurs when trying to close the 'Sales Contracts' editor without saving the changes made to the Contracts data area In the Sales Contract editor, a List index out of bounds (-1) occurs when trying to 'Move Up' or 'Move Down' the sales contracts List index out of bounds (9) occurs when switching to 'Analysis Results' tab, when Sensitivity Field 'Time: Phase Duration' on a fixed step basis is selected In the ITZA Definition editor, a List index out of bounds (1) occurs when selecting 'No' to the "Save" confirmation dialog box Definition When cells are locked in Distribution editor for related Professional Fees then when the Construction Cost is changed, the Professional Fees are re-calculated incorrectly Assumptions Sensitivity Analysis Operated Assets In the Interest Sets editor, an Access Violation occurs when adding a new interest rate Access Violation occurs when trying to view the Preview Analysis by deleting the Rates Interest Rates sensitivity field, following the addition of a new interest or growth rate List index out of bounds exception occurs when deleting a revenue/expense if an invalid Rate is entered in the Operating Expenses/Revenue data grid Definition Floating Point division by zero error seen when opening the Distribution editor from the Sales Agent Fees editor where Related Item Selections have not been selected Sensitivity Analysis Menu items & Toolbar buttons are disabled when the user clicks on 'Preview Analysis' or runs the Analysis Results Modelling User Modelling ARGUS Software An Altus Group Company 15

16 Error! Unknown document property name. Item Area Release Description Type Currency Deletion of the Default Currency will cause all related item values to become Project Cash Timescale & Phasing In the Distribution editor, a floating point division by zero error occurs when previewing a Custom Curve Invalid stage start date is saved when the editor is closed Definition In the Fixed Land editor, using backspace instead of delete in the Cost Type field clears the content of the current cell Operated Assets Structured Multi-Unit Sales Sensitivity Analysis Access Violation error occurs when user deletes an operated asset profile (where 'Amount/Unit' value is assigned to the asset profile in Operating Revenue/Expenses screen) Access Violation error occurs when user tries to delete a Phase Group 'Contract Selection' in the 'Sales' tab for both Pre and Post Constr. Completion fields are set to blank instead of None Access Violation seen when exporting Sensitivity Analysis report to Excel Unit Sales "TabVisibleIndex" exception occurs on deleting newly copied areas Platform On closing the data file, a "TcxVisibleTabList.Get Tab" error message occurs Definition Additional Revenue distribution automatically reverts to Phase Start Project A scripting error is displayed when selecting the Map tab Modelling Modelling Exporting Modelling 16 ARGUS Software An Altus Group Company