We are very happy to welcome Ingles Markets, a fellow North Carolina company, to the AMTdirect community.  

Many organizations are getting serious about selecting a lease management technology platform that can support the new FASB and IASB lease accounting mandates. If you are like most people, you probably don't choose a lease accounting solution every day, so we thought it would be helpful to offer some of the most important things to keep in mind when considering your options.

We suggest asking any vendor you consider whether they are actively implementing clients under the new standards today. Many vendors are claiming that they have a solution, but what they really mean is that they will have a solution by the deadline date. Ask each solution provider to tell you about their customers who are actively engaged in implementation and insist on a demonstration.

The CFO of one of our large retail clients that is currently in the process of making the transition to the new FASB lease accounting standard remarked the other day, “We can’t afford to get this even 1% wrong.” He’s 100% correct. Earlier this year, Cornerstone Research revealed that securities class-action lawsuits related to accounting allegations like GAAP violations and weak internal controls increased 33 percent in 2016 over the year before.

The study called Accounting Class Action Filings and Statements – 2016 Review and Analysis found that an unprecedented number of mergers and acquisitions was a big contributor to the rise in lawsuits, with many cases alleging problems in reconciling non-GAAP to GAAP measures.

AMTdirect is delighted to welcome PetVet to our family of customers. Together, we will streamline lease and location administration, reduce risk, and lower occupancy costs. 

AMTdirect is very happy to welcome Party City to our customer community. They've chosen the most trusted name in leasing software and accounting compliance. 

Most people don’t evaluate lease accounting software every day. In fact, many people who have never thought much about lease accounting technology are being compelled by the new FASB and IFRS mandates to start looking for a solution that can get them to compliance on time. To help, we’ve compiled a list of the most important questions to ask any vendor you consider. You can find one with all the right answers.

1- Has the solution been validated by CPA’s and financial reporting experts?

As one major retail client of ours said, “I can’t afford to get this even 1% wrong.” While the screens that you see in a lease accounting solution aren’t terribly complex (at least they shouldn’t be) the calculations that happen behind the scenes are extremely complicated. That’s why you want to insist on a solution with vetted calculations. Better yet, if the system is recommended by some of the big accounting firms.