Automate calculations and tasks that are time-consuming, prone to error and difficult to audit.
Proactively tackle language, currency and other complexities to produce accurate financial information with ease.
Achieve company-wide visibility of lease data and collaboration on a single platform to drive up performance and productivity.
Is the stress of ASC 842 compliance getting out of control?
ASC 842 compliance looks simple until you factor in multiple leases, international lease portfolios and lease data constantly changing. Different levels of familiarity with the accounting standard can add to the complexity. Which of the following challenges recur every year?
- Don’t know where the data is located
- Decentralized processes – data is housed in various locations and systems
- Lease agreements aren’t electronic
- Cleansing of existing and collected data
- High volume of data fields
- Multiple currencies
- Constantly changing data
Take back control of your end of year accounting
Centralize data, automate calculations and simplify lease management workflows with MRI's ASC 842 software
AI powered data capture and centralization
AI powered data capture and structuring to manage the complexities of lease portfolios across different sectors, currencies and languages.
Automated calculations and reporting
Real time calculations and re-calculations based on updates to a single data source and providing a permanent audit history.
Lease lifecycle management
Share data, get alerts and perform all the necessary lease accounting functions with simplified workflows and better collaboration.
Freedom from inconsistency, manual processes and missed events
How the software will help
Automatic recalculations and associated balance sheet adjustments when required.
Manage landlord incentives
Manage landlord incentives, impairments and dilapidations.
See new disclosure reports
New disclosure reports providing details of right of use assets, interest, amortisation, cash flow and weighted terms.
Get notification alerts when critical information changes.
Scenario modeling of lease terms to limit the impact of new leases on the balance sheet.
Integrate with ERP
API available to interface ASC 842 journals and lease payments to your corporate ERP.
Create asset class matrix
Create an asset class matrix and define discount rates by asset type.
Group assets to one lease
Multiple assets grouped to a single lease contract when required.
Set materiality thresholds with the ability to exclude low value leases.
Manage decision-making process for break clauses and extensions.
Achieve compliance for lease receivables linked to a head-lease payable, whether the subtenant is a third party company or intercompany.
Perform classification tests
Perform lease classification tests to determine Finance vs Operating leases
years of industry experience
ASC 842 compliance without the drama
We get how complex ASC 842 lease accounting can be. With multiple leases and a range of currencies and languages it can turn into a predictable year-end drama.
We’ve been creating lease accounting software for 30 years so when ASC 842 arrived we knew we could give our clients the power to take it all in their stride.
Our comprehensive ASC 842 software solution performs every accounting function in one place. Every scenario, however nuanced, can be handled with ease and efficiency.
What’s more the software can be integrated with your ERP so you can achieve complete compliance without an end of year drama.
3 steps to take control of your ASC 842 compliance
1. Book a free no obligation demo
2. Implement MRI's lease accounting software
3. Achieve full compliance with ease
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