Netgain and RSM Provide Lease Accounting Fixed Asset Solutions
Netgain, an advanced accounting application developer, is announcing an arrangement with RSM – the leading provider of audit, tax and consulting services focused on the middle market. The arrangement allows RSM clients to leverage NetLease, a robust lease accounting solution, and NetAsset, an advanced fixed asset management tool.
NetLease was built to address the new lease accounting standards ASC 842, IFRS 16, and GASB 87. It supports each phase of the lease accounting lifecycle including lease transition, lease initiation, lease modification and early termination. It also provides full visibility into right of use asset and lease liability calculations, tracks non-GL leases, automates the creation of monthly transactions, and accounts for foreign currency leases.
NetAsset is a tool for managing and accounting for fixed assets. It handles all aspects of asset management including capital build-up, in-service placement, depreciation & adjustments, asset maintenance, physical tracking, and reporting. NetAsset capabilities include intercompany asset transfers & eliminations, asset build-ups, splits, revaluations & disposals, and bulk processing. NetAsset includes advanced reporting like fixed asset rollforward and fixed asset waterfall reports.
“Netgain was formed by a team of CPAs and accounting professionals,” said Dan Beil with RSM US LLP. “The professionals’ insights are apparent in both NetLease and NetAsset. We’re particularly excited for our clients to leverage NetLease as they take on ASC 842, IFRS 16 and GASB 87 lease accounting requirements. With NetLease, the adoption of the new standards will be much easier.”
“We are very excited to announce our close relationship with RSM,” said Adam Riches, Partner at Netgain Solutions. “This relationship is critical to the success of our clients, and RSM clients in adopting these new complex standards. With NetLease, they will have a system they can rely on.”
Netgain is an application developer focused on creating solutions that address complex finance and accounting challenges. Netgain products are focused on simplifying, standardizing, and automating solutions with a focus on controls and auditability.