Lease Accounting Software For Lessees

calendar iconJanuary 18, 2022
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Solutions Guide to Lease Accounting For Lessees

Let us be your guide forward in implementing the new lease accounting standard

Cherry Bekaert is excited to offer access to a cloud-based, third-party software built to help manage your leases from data entry to journal entries. The software is designed for companies of all sizes to help you create all the deliverables that an auditor will request, saving you time and ensuring an efficient and accurate review by your auditors, whether you have a few leases or a few thousand leases.

Lease Accounting Software For Lessees

Key Features

  • Simplified policy elections – identify policy elections required by the standards in minutes with templates for FASB, GASB, & IFRS, evaluate pre-selections based on experience, and review guidance that walks you through all selections.
  • Tips and hints – provides explanations and guidance throughout to assist in accurate data entry.
  • Wizards to drive integrity – wizards assist users on key variables, including the five classification criteria and subjective decisions about early termination and renewal options.
  • Automated footnote disclosures – automated quantitative disclosures simplify the complex footnote requirements of the new lease standard.
  • Comprehensive reporting – out-of-the-box reporting gets information to you immediately. Create custom reports to meet any specific needs for your company.
  • Generate journal entries – export engine provides customizable and error-free exports, so users can easily update ERP and other accounting systems.

Essential Features

  • Compliance with FASB, GASB, and IFRS
  • Real estate and equipment leases
  • Ability to attach documents
  • Reporting and exporting
  • Error free amortization schedules and journal entries
  • Anywhere and anytime access

Innovative Capabilities

  • Policy election templates for FASB, GASB, and IFRS
  • Tooltips and hints through the application
  • Wizards for classification and lease term
  • Designed for collaboration
  • Automated quantitative footnote disclosures
  • User interface designed for simplicity and speed

Want to Learn More?

Cherry Bekaert’s dedicated team of professionals can help you navigate these changes and assist with your approach to implementing the new standard. Now is the time to plan and adequately prepare for changes that will impact your business.