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.
To qualify for inclusion in the Lease Accounting category, a product must:
CoStar Real Estate Manager harnesses real estate and lease data in order to make smarter decisions and enable teams to work together more efficiently with our platform of cloud-based software, professional services and industry-leading market information.
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.
LeaseQuery is your easy button for lease accounting. They provide effortless, hassle-free lease accounting software. LeaseQuery was founded by accountants in 2011 to help businesses understand the financial impact of their lease portfolio by providing journal entries, amortization tables, forecast reports, and account balances with a click of a button. LeaseQuery was the first software solution to be fully compliant with the new lease accounting rules and help companies seamlessly transition to the new FASB standard by leveraging their expert lease accountants and their innovative software solutions. Their clients choose LeaseQuery because they provide more than just software. They ensure client success by partnering with them during the scoping, design, and implementation of their solutions to make sure their expectations are exceeded. By working with several diverse organizations, LeaseQuery has developed best practices that drastically reduce the time to implement solutions and start providing immediate value. LeaseQuery is proud to serve medium to large businesses from privately held organizations to publicly traded companies with over 25,000 leased assets.
Nakisa provides lease management, accounting, and reporting solutions designed to support regulatory compliance with the new lease accounting standards (IFRS 16 and ASC 842). Comprehensive lease accounting solutions help organizations manage global lease portfolios, gain strategic insights into financial data, and streamline lease accounting operations.