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.
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.
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.