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Lease Accounting with LeaseAccelerator
Software to streamline the lease accounting process
The new ASC 842, IFRS 16 and GASB 87 lease standards have required companies to focus on their leasing portfolio not only from an accounting perspective but also from a business process perspective. Faced with a current decentralized process, companies are reevaluating how they manage leases from sourcing, procurement, change events, lease modifications and abstraction, to administration, receipts and payments, and reporting.
Companies recognize simply relying on spreadsheets and current resources will not be sufficient to manage lease events and accurately account for financial obligations. They are now finding that they can also better manage their lease portfolios and generate free cash flow while still ensuring long-term sustainable compliance.
LeaseAccelerator streamlines the leasing process by enabling:
- Automatic lease accounting classification
- Automation processes for lease modifications, including complex lease changes
- Incremental borrowing rates by lessee, geographic region and terms
- Translation of local to functional to reporting currency for reporting purposes
- Calendar structure (4-4-5, Gregorian, etc.)
- One-click month-end close
- Integrations with various ERP systems
- A centralized repository for lease documentation
- Lease-versus-buy analysis
In addition, LeaseAccelerator’s real estate and equipment administration functions include invoice processing, sublease management, automation of RFPs, regulation of buyouts, renewals, returns and notification of critical dates.
Download the ASC 842 Selection Guide
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