How to Implement the New Lease Accounting Standard For Companies

 

Lease Accounting Software That Simplifies Compliance

Get Started

 

Group 109

Group 154-3
Mask Group 25

Automate The Difficult Parts of Lease Accounting

With LeaseCrunch, you don’t need to be an expert in ASC 842, IFRS 16 or GASB 87/96 compliance. Our simple, easy-to-use solution allows you to address the biggest challenges in the new lease standard while automating the required deliverables. Our software is comprehensive and cost-effective, even for companies with just a single lease.

Mitigate the Risks of Spreadsheets

Although spreadsheets have worked in the past, they are not a solution for how to implement the new lease accounting standard. Spreadsheets introduce risks to the accuracy of your financial statement inputs, especially when leases are revised for modifications or re-measurements.

However, when LeaseCrunch does the calculating and heavy lifting, you receive spreadsheets pre-populated with accurate journal entries, amortization schedules, and footnote disclosures. Footnote disclosures are substantial in the new lease standard and LeaseCrunch provides the quantitative calculations.

Read More About The Risk of Spreadsheets Group 179

 

Group 151-1
Mask Group 26

Complete Audits Fast

Donʼt let the difficulties in how to implement the new lease accounting standard add hours to audits. LeaseCrunch creates all the deliverables that auditors request, saving time and ensuring an efficient and accurate review by the CPA firm.

In addition to footnote disclosures, leasing wizards, policy templates, users can export key lease data, such as dates and payment schedules, facilitating an easy review and comparison to lease contracts stored in LeaseCrunch. With extensive reporting capabilities, you have access to the information you need.

Amortization schedules from multiple leases can be aggregated into a single schedule with subtotals by fiscal year for simple P&L checks.

Group 184

Fast Implementation

Get started quickly with a streamlined, straightforward interface and in-app help links, wizards, and definitions that assist users in getting started with how to implement the new lease accounting standard.

 

 

Asset 22

Easy to Use

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

 

 

Asset 8

Accuracy and Compliance

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

Asset 13

Export into Spreadsheets

While compliance with lease standards is difficult in Excel, our export engine provides spreadsheets so you can easily update ERP systems.

Still Wondering How to Implement the New Lease Accounting Standard, Or Want to Try Our Software for Yourself?

More Resources