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Accounting

  • Journal entries for the entire life cycles of leases: commencement, interim, modification and termination

  • Interest rate implicit in the lease calculation

  • Amortization table generation

  • Lease classification test at the commencement as well as at the modification/reassessment

  • All journal entries for the month in one concise report

  • Journal entries export to Excel in a single-column format

  • Accommodate multiple charts of accounts

  • Journal entries in local currencies

  • Journal entries in functional currencies with calculated exchange gain/loss

  • Lease Impairment

  • Mid-lease reassessments

 

Financial Reporting / Disclosure               

  • “Footnote-ready” summary reports

  • “Audit-ready” detail reports

  • Maturity Analysis report as of any period, and reconciliation with lease liabilities.

  • Weighted average remaining lease term and discount rate report

  • Segment reporting. Divisional / subsidiary reporting.

  • Filter and sort reports by virtually all fields

 

Navigation

  • Quick search by keyword

  • Intuitive input with GAAP tips

  • Integrated data validation 

  • Satellite map or birds eye's view from Google or Bing.

  • Filter and sort reports by virtually all fields

 

Internal Control

  • Audit trail of individuals making changes

  • Segregation of Duties

  • Exclude any leases from journal entries and reporting until they are approved

  • Lockdown lease records once are approved (this function is disabled in the lease demo version for easier presentation)

 

Teamwork

  • Works in a shared network drive environment. Multiple team members can work on the same project.

  • Works in cloud (e.g. Office 365) environment. Multiple team members can work on the same project.

  • Works across computers in an unconnected environment by sharing files via email

  • Export data, reports to Excel, PDF, etc…

  • Email reports right from within the software

 

Organization  

  • Attach lease agreements, pictures, emails, etc.

  • Multi-layer organization: segments (divisions, subsidiaries) and branches

  • Automatically create organized folders to store exported reports

 

System Requirement

  • Microsoft Access 

  • Support any language supported by Microsoft Office

 
 
 

GAAP Compliance  

  • FASB ASC 842, IASB IFRS 16, or dual-standard tools

  • GASB 87

  • Lessee accounting and lessor accounting

  • New standard adoption transitional accounting and reporting

  • Reports modeled after authoritative literature implementation guidance

  • Proper calculation of cash flow disclosure by lease classification by segment

  • Proper calculation of the current portion of lease liabilities

 

Analysis

  • Future commitments and cash flows forecasts

  • Lease vs Buy analysis

  • Visual Charts

 

Multi-Currency

  • Functional currency proper translation from local currencies, and to reporting currency.

  • Historic exchange rate maintenance for ROU assets AND amortization

  • Flexible reporting currency for analysis purpose