EBOOK:
Lease Accounting & Financial Systems
Ten Enterprise Systems that Track Leasing Data
Leasing Data and Financial Systems – General Ledger, Accounts Payable, Fixed Asset, and Others
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Sources and Targets for Data
Learn which types of lease accounting data can be sourced from which systems. Understand which types of data needs to be published to which applications.
- General Ledger for Debits and Credits for Monthly Close
- Fixed Asset Management for Inventory and Depreciation
- Real Estate Administration for Land, Building, and Property Leases
- IT Asset Management for Laptops, Servers, and Data Center Equipment
- Fleet Management for Corporate Cars, Vans, and Trucks
- Accounts Payable for Invoiced Expenses and Disbursements
Levels of Automation
Understand what approach to use for keeping your systems up to date. Learn the pros and cons of:
- Fully Automated Exchange of Data between Systems via APIs and File Transfer
- Semi-Automated Exchange of Data between Systems via Manual File Transfer
- Manual Entry of Data Into Each System via a Web Interface
The Financial Systems that will Interact with Your Lease Accounting Software
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 subledger to be uploaded into your GL on a monthly basis. The lease accounting data can be consolidated with other journal entries to generate the appropriate financial reports and disclosures.