Property management software news, views and industry trends
What is Capital Lease Accounting?
Capital lease accounting, also known as finance lease accounting, refers to the method by which long-term lease agreements are recorded on the balance sheet. This approach requires the lessee to recognize both the asset and the corresponding lease li…
How to effectively implement the new lease accounting standards
The new lease accounting standards—ASC 842 lease accounting for U.S. GAAP and IFRS 16 for international reporting—are a significant change for companies, lessors, and investors alike. Staying compliant while ensuring your financial reporting is accur…
What is a triple net lease (NNN)?
A triple net lease (NNN) is one of the most popular types of commercial real estate leases in the U.S. It’s especially common for retail spaces, restaurants, and other franchise businesses. With a triple net lease, tenants are responsible for more th…
Top 4 challenges of Excel-based lease accounting
Including Microsoft Excel in your lease accounting workflow may seem like the simplest or most practical way to manage simple accounting tasks. And it would be – if the business landscape never changed. While Excel can be a great starting point, it c…
How leasing software mitigates the challenges healthcare organizations face
Healthcare organizations face numerous challenges, ranging from managing their resources efficiently to ensuring regulatory compliance and providing the best possible care to patients. One of healthcare organizations’ most significant challenge…
More data, more problems: The need for collaboration across real estate teams
Every action that takes place in and around a building has the potential to create data – and lots of it. Information comes from leases, work orders, energy usage alarms, sensors, and more. The people that set foot on your property generate data poin…
What is Lease Accounting?
Effective from December 15, 2018 for private sector organizations, and more recently in the public sector from December 15, 2021, ASC 842 is the new standard for lease accounting issued by the Financial Accounting Standards Board (FASB). Meanwhile, G…
A guide to lease audits
For companies handling a large number of leases that are either very complex or have high churn, lease audits are a necessary but resource-intensive process. Whether a company acts as a landlord, a tenant, or both, it can be challenging to stay on …