By LeaseCrunch® on Oct 26, 2022 11:04:13 AM
This article originally appeared in MKE StartUp News
To understand the runaway success of Milwaukee-based LeaseCrunch, you have to know a little bit about accounting.
Most businesses are required to follow Generally Accepted Accounting Principles. Commonly known as GAAP, these standards are put forth by the Financial Accounting Standards Board (FASB). Recently, the FASB changed the lease accounting standard, so all leases must now appear on company balance sheets. This change requires complicated calculations and will add countless hours to the workload of accounting departments across the nation.
In response to this change, LeaseCrunch was created. Launched in 2016, the SaaS (Software as a Service) company created an intuitive, scalable solution so accounting firms can easily collaborate with their clients to meet these new requirements.