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New Accounting Standards Shine a Light on Equipment Leases

Equipment leasing softwareEquipment leases have long been an afterthought when it comes to reporting an organization's financial obligations, but that is no longer the case due to new FASB ASC 842 and IASB IFRS 16 lease accounting standards.  The new 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, including real estate and equipment in one unified solution.
  •   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.
  •     Anytime access to portfolio data and scheduled monthly reports.
  •    Get access to more than 250 standard reports or create your own custom reports and dashboards.

Everything You Need to Manage Equipment Leases at Your Fingertips

Smart organizations are preparing for the pending equipment lease accounting mandate now. The first step is to select an equipment lease management platform with built-in FASB 842 and IFRS 16 capabilities and accounting system integration. Based on our 20 years of working with clients to implement effective 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

Use our advanced reporting features to make data decisions across your entire equipment lease portfolio. Centralize and manage all equipment lease related documents.

Financial Reporting Compliant

Eliminate the risk of mistakes due to manual calculation or spreadsheet errors. Use audit trail tracking to ensure correct calculations, even with the most complex scenarios.

Expert Support

Our technology is guided by professionals with decades of lease accounting experience. Our team of CPAs, attorneys, paralegals, and lease administrators is standing by to offer you an exceptional implementation experience.  

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