Lease accounting software effectively manages and minimizes financial risk associated with lease portfolios. It also centralizes the processes and lifecycles of lease portfolios. The software automates the previously manual process of keeping track of journal entries, each lease’s audit trail, and whether a lease is an operating or financing lease. Lease accounting functionality has always existed in some capacity, buried within lease administration or real estate asset management software, but its current form facilitates the compliance of businesses to FASB and IASB regulations. Lease accounting software prepares businesses for critical dates for financial audits and reviews. In addition, lease accounting software can, and usually does, integrate with ERP systems to automate the creation of general ledger journal entries. The software can also integrate with existing POS and accounting systems, as it helps businesses get full visibility of the entire lease portfolio.
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Visual Lease is lease accounting and lease administration software specifically designed to manage your company’s real estate and equipment leases. Loved by users worldwide, Visual Lease embeds decades of deep lease management and financial accounting expertise. It is intuitive, easy to use and integrates with all major ERP systems. Visual Lease gives you complete control over your leases and keeps you compliant with US GAAP (ASC 842) and international IFRS 16 standards. The new lease compliance standards are not “set and forget” – they require that you update your disclosures continuously to accurately reflect the condition of your lease portfolio. Visual Lease helps you manage remeasurements, modifications, hypothetical and retrospective scenarios to ensure that your organization is up to date on its disclosures. Leveraging a platform that has both lease accounting and lease administration helps ensure that from day one, procurement, accounting and real estate teams are aligned and consistent. Implementing one system can also enable fast and easy data migration.
LeaseQuery is CPA-approved lease accounting and management software for lessees. We help accountants and finance professionals eliminate lease accounting errors that will lead to material misstatements. Our accountants, who specialize in lease accounting, will be with you every step of the way towards compliance with the current and new lease accounting standards, while ensuring minimal disruption to your business. LeaseQuery is proud to serve medium to large businesses from privately held organizations to publicly traded companies with over 25,000 leased assets.
InfoSite is a SAAS platform specifically engineered to assist corporate real estate departments in their day-to-day operations and designed to meet and surpass needs, for leased, sub-leased and owned assets.Take control of every aspect of your real estate portfolio - from data entry to dynamic reporting and from lease abstracting to prescriptive analytics, Infosite make it easy. InfoSite is designed with a complete calculation module for the new FASB ASC-842 and IFRS16 Accounting Standard.
LeaseAccelerator offers the market-leading SaaS solution for Enterprise Lease Accounting, enabling compliance with SOX, SEC, and current and new FASB and IFRS standards. Using LeaseAccelerator’s proprietary asset-based Global Lease Accounting Engine, customers can account for all categories of leases including real estate, fleet, IT, material handling, and other equipment at an asset level. On average, LeaseAccelerator’s Lease Sourcing and Management applications generate savings of 17 percent on equipment leasing costs with smarter procurement and end-of-term management.
IBM TRIRIGA delivers an integrated workplace management system to increase the operational, financial and environmental performance of your facilities. Improve facility utilization Provides facility planning, management and flexible space reservation management to ensure the most effective utilization of real estate assets. Maximize capital projects Offers advanced, collaborative project management capabilities that help you identify project risks and benefits to drive on-time, on-budget projects. Reduce energy costs Use analytics and benchmarks to prioritize energy-savings projects and to trigger automation that helps you achieve and exceed energy reduction goals. Reduce facility operations Track budgets, costs and schedules for more efficient facilities maintenance; centralize move requests, management approvals, tracking information and scheduling updates. Optimize lease accounting Streamline lease accounting practices to comply with new standards and analyze the financial impacts: leverage split ledger, out-of-the-box journal entries, calculate NPV, automate accounting tasks.
Nakisa Lease Administration is a holistic lease management, accounting, and reporting solution designed to support regulatory compliance with IFRS 16 and ASC 842. As a comprehensive lease accounting solution, Nakisa Lease Administration allows organizations to centralize global leasing data, gain insight into lease liabilities and commitments, and streamline lease accounting operations.