<img alt="" src="https://secure.hall3hook.com/198371.png" style="display:none;">
Group 138@2x

Automated Lease Accounting Software

LeaseCrunch Simplifies The New Lease Standards.

Find Out How

Simplify the New Lease Standard

LeaseCrunch is an easy-to-use solution that addresses the biggest challenges of the new lease standard while automating the required deliverables. The software is compliant with ASC 842, IFRS 16, GASB 87 and GASB 96 and cost-effective even for a single lease.


Remarkably easy to use

With LeaseCrunch’s step-by-step wizards, worry-free calculations and automated quantitative footnote disclosures, rest easy that you comply with the tricky nuances of the new lease standard. The interface allows simultaneous client and CPA firm access for collaboration on implementation and ongoing lease accounting support.

Automated quantitative footnote disclosures

Automated quantitative footnote disclosures

The footnote disclosures are substantial in the new lease standard. LeaseCrunch helps auditors by providing them with many of the quantitative disclosures (FASB, GASB and IFRS) needed to complete the footnote, reducing the time to develop the footnote. Examples include finance lease expense (amortization and interest), operating lease expense, weighted-average remaining lease term, weighted-average discount rate and maturity analysis.

Leasing wizards for classification and lease term

Leasing wizards for classification and lease term

Software wizards assist users when entering lease information. Wizards walk users through each step to evaluate the five criteria of lease classification as well as determining term length by capturing the subjective decisions about early termination and renewal options. Wizards can be configured to be required as part of the data entry workflow or as an optional feature available to users as a reference only when needed. The data collected by the wizards can be exported for the auditors' review.

Simplified lease accounting policy election templates

Simplified policy election templates

LeaseCrunch reduces the time it takes to make policy elections down to minutes with lease accounting policy templates for FASB, GASB and IFRS. A completed lease policy will facilitate a faster review by the auditors providing confidence in an accurate and complete implementation of the new lease standard.

The comprehensive policy template is designed to save users time and help kick-off implementation as a ready-made audit deliverable. Features include:

  • References to cited sections of the standard
  • Policy snippets
  • Simple checkboxes for required elections
  • Preselected elections based on expedience
  • Guidance on the advantages and disadvantages of policy elections to help clients through selections
Lease accounting software

Helpful tooltips and hints

Data entry errors can slow down the auditing process increasing the time it takes to complete an audit. To boost data accuracy, LeaseCrunch includes helpful tooltips throughout the application. Each tooltip includes professionally written summary and considerations for the relevant part of the standard. Plus each tooltip includes a reference to the original and authoritative section of the standard for further information.

Screen Shot 2022-02-08 at 3.56.11 PM-2

"The software makes it easy to input all your lease data without having to understand all the ins and outs of ASC 842. The tool guides you through all the steps of taking the terms of your lease and getting them properly input and categorized. They also calculate the adjusting entry that you'll need to convert from your current process to ASC 842. When researching different solutions, LeaseCrunch stood out because the workflow was simple and easy to follow, the implementation time was much faster (one company said it could take up to six months to gather all our lease info), and they offer a Help document to assist on the technical side. They also have several accountants and CPAs on staff to answer questions and help with unique situations. Overall, very happy with the product."

What You Expect from Your Lease Accounting Software

Fast-Implementation

Fast implementation

Get started quickly with a streamlined, straightforward interface and in-app help links, wizards and definitions to assist with getting started

Easy-To-Use

 
Easy to use

Easily generate journal entries, quantitative footnote disclosures, a full amortization schedule and more with the push of a button

 
Accurate-and-Compliant-1
Accuracy and compliance

Integrated validation checks improve data input accuracy and ensure compliance with relevant standards and requirements

 

Export-Into-Spreadsheets

Export into spreadsheets

While compliance with lease standards is difficult in Excel, our export engine provides spreadsheets to easily update ERP systems