Lease Accounting Software features
Time saving calcuations
Automatic recalculations and associated balance sheet adjustments when leasing events require it, such as extensions and terminations.
Equipment lease management
Track and manage all types of assets, including office and IT equipment and vehicles, with visibility into critical data such as lease terms, depreciation schedules, and residual value guarantees.
New disclosure reports providing details of right-of-use assets, interest, amortization, cash flow and weighted terms.
What if scenarios
Scenario modelling of new leases to aid decision-making when considering the impact of new contracts on the balance sheet.
Enable compliance using lease accounting software to manage your real estate and equipment leases
Our lease accounting software has always operated to enable compliance with core accounting and financial reporting regulations, including ASC 840 and the new FASB ASC 842 and IASB IFRS 16 standards. This means that by using our software, businesses can automate calculations that are otherwise time-consuming, prone to error and difficult to audit in a spreadsheet or separate software approach. Designed as an open information system, the calculated values can be interfaced through to corporate accounting systems to avoid manual journal creation. In addition, fields have been added that capture discount rates, assumed end dates of the lease (taking into account break clauses and extensions, plus comments to satisfy auditors as to why this date has been chosen), incentives, costs and dilapidations.
A single source for all current, newly signed and planned leases, including lease terms, financials and potential changes.
Handle FASB and IASB calculations simultaneously.
Get automatic notifications when critical information changes. Finance can also be notified when a new lease is under negotiation.
Ensure data is captured at source, eliminating the need for multiple entries.
Easily import revised lease abstracts to ensure the accuracy of information.
Model scenarios for full and modified retrospective leases, and see what impact these have on the balance sheet.
Address wider workplace needs, including space management, maintenance and facilities management.
Easily generate lease capitalization and disclosure reports. Run lease classification tests.
Management of landlord incentives, impairments and dilapidation provisions.
API allows easy integration to corporate ERP for lease payment and receivables.
Property & equipment leasing
FASB & IASB compliance for both property portfolio materiality and non-property assets.
FASB & IASB compliance for lease receivables linked to a head-lease payable, whether the subtenant is a third party company or intercompany.
Lease level accounting
Audit trail for each lease of all balance sheet calculations, each displaying amortisation, opening/closing liability, interest, depreciation etc for each period in line with company-specific accounting calendar.
Discount rate management
Definition and management of discount rate strategy - lease by lease, implicit, asset class.
Group Vs Entity Reporting, FASB and IASB dual reporting for organisations requiring to declare the impact on the balance sheet of leases across multiple entities within a global group.
Lease exemptions and classifications
Automated classification of short term leases and small value lease exemptions, along with FASB operational and finance lease classifications.
Compounding on a daily rate or monthly rate in line with a client’s accounting calendar i.e. standard calendar months, retail accounting periods (4-4-5).
Lessee and lessor disclosure reports (FASB & IASB).
FASB and IASB journal entries per period – standard reporting or ability to interface to ERP.
Over 400 lease accounting implementations
Used in 100+ countries
Trusted by more than 1000 property occupiers