Financial Systems Lease Accounting

The 12 Enterprise Applications that Track Leasing Data

By | Blog

As you are evaluating, selecting, and implementing lease accounting software, you will need to consider how the new application will interact with the other financial and operational systems in your IT ecosystem. Some interactions are obvious while others are not. Perhaps the most important system to consider is the general ledger. You will want the debits and credits created from your leasing sub ledger to be uploaded into your GL on a monthly basis.

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Transition Accounting

Six Scenarios for Lease Accounting Transition

By | Blog

Most large companies have a portfolio of hundreds, if not thousands, of existing leases that will need to be transitioned to the new standard. The requirements for transitioning this existing portfolio of leases will vary based upon the start and end dates relative to the Date of Initial Application and the Effective Dates for ASC 842. With respect to those two dates, there are six variations of leases that may occur, each of which will have slightly different requirements.

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accounts payable and lease accounting

Accounts Payable and Lease Accounting

By | Blog

Many companies will want to synchronize their accounts payable (AP) applications and their lease accounting system. To perform accurate accounting for your leasing portfolio, you will need to capture precise details of periodic rent payments as well as other fees incurred at the start and end of the lease.

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Lessons learned lease accounting

Lease Accounting Lessons Learned

By | Blog

In a few days we will have reached the midway point between the date FASB published the ASC 842 standard (and the first implementation date. Most companies adopting the new standard have not reached the midway point in their own implementations. However, there are a number of early movers who have made significant progress in the transition, which begs the question – what are the lessons learned so far?

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real estate administration and lease accounting

Real Estate Administration and Lease Accounting

By | Blog, Real Estate

Many companies have an Integrated Workplace Management System or a Real Estate Administration application that serves as the system of record for all property leases. Much of the leasing data needed to perform real estate administration is also needed to perform proper lease accounting. Rather than manually entering data into both systems, the best approach is to establish integration between the Real Estate Administration application and your Lease Accounting system.

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