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New Accounting Standards Shine a Light on Equipment Leases

AMTdirect's equipment leasing software is easy to use.Equipment leases are traditionally an afterthought - or ignored altogether - when it comes to reporting your company's finances. That's no longer the case. With the new FASB ASC 842 and IASB IFRS 16 lease accounting standards, you now have to take equipment leases out of the footnotes.  The new accounting standards require that every lease longer than 12 months - including equipment leases - be accounted for on the balance sheet. 

 

  •   Perform lease classification tests to determine whether a lease is a Finance or an Operating lease.
  •   Manage all types of leases in one lease software solution, including real estate leases and equipment leases.
  •   Manage mid-term adjustments by restating any capitalization schedule if the lease terms change.
  •    Account for sub-tenant income in your capitalization schedules.
  •     Generate journal entries that are seamlessly uploaded to your accounting system.
  •     Access portfolio data and scheduled monthly reports in real time.
  •    Get access to more than 250 standard reports or create your own custom reports and dashboards.

Everything You Need to Manage Equipment Leases

With a 4-6 month average implementation timeline, smart organizations are prepping for the new accounting laws now. The first step is selecting a lease accounting solution that can handle equipment lease management with built-in FASB 842 and IFRS 16 capabilities. Based on our 21 years of working with clients to implement effective lease administration solutions, we've developed the industry's best combination of software and services for equipment lease administration and accounting compliance.

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Smart

Track all relevant clauses from your equipment leases during their full lifecycle, while proactively managing key dates, lessor obligations, and lessee obligations.

Accessible

Centralize your equipment lease documents so you can manage them easily. See data and run advanced reports to make smart decisions across your entire equipment lease portfolio.

FASB Compliance

Compliance is at the top of our list. And we can handle even the most complex lease accounting scenarios... from multiple FASB schedules per lease, to multiple start and end dates per lease, to mid-term revisions... no problem.

Expert Support

With over 21 years in the industry, our team knows a thing or two about lease accounting. Our team of CPAs, attorneys, paralegals, and lease administrators is the reason we have the best implementation & onboarding experiences in the industry.

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