Best Lease Accounting Software

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:

  • Generate journal entries and accurately calculate lease data
  • Classify lease types
  • Set up notifications for critical dates
  • Support the importing of data from existing repositories and spreadsheets into the tool’s database
  • Store and track data about each lease, journal entry, and asset
  • Ensure compliance of leases with new lease accounting standards
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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
    (10)4.7 out of 5
    Optimized for quick response
    Optimized for quick response

    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.

    The ProLease Lease Administration module can manage your leased, owned and subleased properties in one integrated system.

    Harbor Flex is a provider of software services that address the needs of corporate real estate departments and their service providers.

    LeaseWave is an end to end browser-based lease and loan management system designed to support the entire lifecycle of leases, loans and assets.

    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.

    Tango's Lease Administration software is fully integrated with the entire location lifecycle, quick to implement and easy to use.

    Accruent Portfolio Center is a lease administration software that helps administrators maintain control and make informed decisions about their leases.

    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.

    RAMs lease accounting software provides better visibility of lease exposure and improves lease management while assisting in compliance with the new FASB and IASB regulations taking effect in 2019.

    Software designed to help CPA firms and their clients manage their leases from data entry to journal entry.

    Fast, simple, automated accounting for your leases. Compliant with IFRS16 / AASB16 and ASC 842.

    Lucernex Lease Accounting is a solution designed help manage the most complex lease scenarios, streamline classifications and seamlessly process payments.

    MarketEdge is a tool that helps commercial real estate brokers analyze lease offers and create branded collateral for their properties. MarketEdge features financial analyses, persuasive marketing, and private deal rooms.

    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.

    Netgain's Netlease Management Tool is here to help your business operationalize these requirements embedded into the NetSuite platform.

    Your complete lease management, lease accounting and contract management solution.

    PowerPlan Lease Accounting is a solution provides complete lifecycle accounting for leases and ensures compliance with new standards.

    All-in-one accounting & portfolio solution. Get IFRS 16 compliant. Reduce period-end close