The easiest and fastest way to comply with FASB 842, GASB 87, and IFRS 16 lease accounting standards
RESTON, Va. – July 29, 2020 – LeaseAccelerator, the leader in the Lease Lifecycle Automation (LLA) software market, announced today the addition of EZLease, an automated lease calculator for rapid, low-cost compliance.
EZLease is the only lease accounting software on the market today that supports the requirements of lessees and lessors for all standards in one fully-integrated application. EZLease reduces the cost of manually generating lease accounting journal entries by automating complicated and labor-intensive calculations and processes. With EZLease, lessees and lessors can manage lease data at the asset, contract or portfolio level with full data validation and over 15 standard reports. The application allows users to upload GL data easily to Sage, Intacct, Infor, Microsoft Dynamics, Quickbooks, Xero, Netsuite, and other accounting applications using a simple export.
“Upon implementing ASC 842 for our 64 leases, we had Excel spreadsheets built for compliance. These spreadsheets initially worked, but as more changes went into the leases, each spreadsheet became more complex and likely to have errors. Within a few days of purchasing EZLease, we were up and running. We can now make changes more easily and be confident that they are reflected correctly in the financials. This was especially valuable for the temporary abatements and lease changes we dealt with during the COVID-19 shutdown,” said Brad Chapman, CFO of Vintage Stock, Inc.
“EZLease already has a large, global user community of satisfied, referencable customers spanning universities, hospitals, government agencies, public, and private companies,” said Michael Keeler, CEO of LeaseAccelerator. “GASB lessees and lessors don’t have to wait on promises of future features, everything they need for compliance is in the product today.”
To assist companies through COVID-19, LeaseAccelerator is offering six months free to new EZLease customers who purchase in 2020. Contact us via: https://ezlease.net/
LeaseAccelerator provides global Lease Lifecycle Automation (LLA) software to improve free cash flow and simplify compliance. Thousands of users rely on our Software-as-a-Service (SaaS) platform to manage and automate 700,000 real estate and equipment leases valued at $200 billion across 5 million assets in 172 countries. The LeaseAccelerator automation platform includes asset-level accounting, reporting and governance; stakeholder performance management; and an integrated competitive leasing marketplace fueled by a global network of more than 500 lessors. Learn more at: https://www.leaseaccelerator.com/.
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