Centralized Lease Accounting for a Decentralized Organization

Made Possible With LeaseAccelerator Lease Accounting Software

Learn how LeaseAccelerator helped a building materials producer overcome their reliance on spreadsheets to adopt the new ASC 842 lease accounting standard.

  • Compliance – The Company complied with ASC 842 on-time. Their auditors have signed off on all of their closes so far. LeaseAccelerator’s advanced reporting features helped them succeed.
  • Management – The Company wanted a centralized repository to replace their spreadsheets so Corporate Accounting could have visibility into all the lease data in one place, and splice the data as needed.
  • Special Circumstances –  The Company was going through several acquisitions and also had a joint venture, creating difficulties in lease accounting. However, LeaseAccelerator’s smooth implementation and onboarding, as well as its ability to handle multiple fiscal years, made these situations much easier to handle.