By LeaseCrunch® on Feb 28, 2019 9:47:14 AM
AccountLease is a strategic alliance between CPA firm Swenson Advisors and Cresa San Diego
MILWAUKEE, February 28, 2019 – LeaseCrunch®, the only lease accounting software made by former CPA firm auditors for CPA firm auditors, today announced that AccountLease will use their software platform to serve clients.
Swenson Advisors LLP and Cresa San Diego launched AccountLease as a comprehensive solution designed to address the new lease accounting standards, which require companies to record substantially all real estate, equipment leases, and leases embedded in service agreements as assets and liabilities on their balance sheets starting as early as 2019 for publicly traded companies.
“We are pleased to be working with AccountLease, helping their clients navigate the new lease accounting reporting requirements,” said Ane Ohm, Co-Founder and CEO of LeaseCrunch®.
Steve Austin, Managing Partner at Swenson Advisors, has been at the forefront of the new lease standard and led one of the first new lease accounting implementations in 2017. “LeaseCrunch® is designed to accommodate the needs of companies with large, complex portfolios, while still being a cost-effective solution for companies with as few as 1-5 leases, who most likely have an office lease material enough requiring full implementation,” said Austin. “AccountLease is implementing LeaseCrunch® at a major health system that has over 4,000 leases in their portfolio and a big reason for that was LeaseCrunch’s ease-of-use. This project joins several Integra International firms, led by KSDT in Miami to provide a comprehensive team of specialists.”
“LeaseCrunch® wants to help CPA firms enhance client relationships by providing essential features and innovative solutions through a simple interface,” said Ohm. “Tools and features that save CPA firms time and money include electronic audit trails, automated quantitative footnote disclosures, leasing wizards for classification and lease term, simplified policy election templates, custom reporting, journal entry exports and amortization schedules. Clients have full control of whether the firm can access their lease portfolio for implementation or audit.”
Named by Accounting Today as one of the top new products of 2019, LeaseCrunch® provides cloud-based lease accounting software for CPA firms, designed to help organizations implement the new lease accounting standards, ASC 842 and IFRS 16. Designed by CPAs, former Big 4 public accounting auditors, software development veterans and a former member of the FASB staff, the application offers an easy-to-use customer interface that delivers “audit in a box” lease accounting services, reducing the time it takes clients to prepare for an audit. LeaseCrunch® allows companies to identify policy elections for the leasing standard through templates for both US GAAP and IFRS. For more information go to: www.LeaseCrunch.com
AccountLease is an alliance of professionals whose expertise is focused on the implementation of the new lease accounting standards under FASB Topic 842 and IFRS 16. This team has been working with public and private companies addressing the accounting requirements for over 100,000 leases since 2016. The accounting, lease analysis, and real estate lease evaluation in coordination with lease accounting software such as LeaseCrunch® provides an effective and efficient end-to-end solution to the recording of operating and finance leases onto balance sheets in compliance with these new standards for a wide variety of commercial and nonprofit organizations.
About Integra International
Integra is a global association of accounting and tax firms who work together to provide audit, tax, and consulting solutions for local and multinationals companies around the globe. Firms such as Swenson Advisors, Cresa Global, and KSDT are examples of the wide range of skills of over 5,000 professionals with a geographic footprint available to meet the needs of middle market and Fortune 100 organizations.
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John Steven Vita Communications