ASC 842 represents a significant shift in lease accounting standards and many technology solutions can ease the transition and help organizations remain compliant. Platforms are rapidly adapting to keep up with new requirements, but implementation can be complex, and not all solutions align with the needs of all organizations and industries.
The digitally savvy accounting consultants at RSM understand the technical complexities of the accounting standard and can help advise, select, and implement technical resources to help you achieve compliance.
Visual Lease is an industry-leading, comprehensive lease accounting software platform that helps companies like yours maintain lease data and achieve compliance with lease accounting standards not only for ASC 842, but IFRS 16, GASB 87 and GASB 96 as well.
A fast and reliable path to lease accounting compliance, Visual Lease software simplifies even the most complex leases and automates financial reporting through:
An intuitive user interface that makes it easy to navigate and access key lease financials, calculations, and reports.
Flexible configurations that capture, support, and track any record or data point associated with leased assets.
Automated calculations that help you spend less time generating financial calculations and reports.
Lease transparency that lets you examine leases, updates, schedules, and more in real-time.
Visual Lease also allows for powerful integrations, giving you the flexibility of integrating your lease data to third-party applications including enterprise resource planning applications (ERPs), accounts payable, accounts receivable, general ledger, and more.
RSM professionals can help guide you and your staff through every step of the process and provide ongoing training and support. We understand having a reliable software implementation is crucial to lease accounting compliance and your success.