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

  • In-application chart of account configuration

  • All journal entries for the month in one concise report

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

  • Multiple charts of accounts accommodated

  • 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

  • Rollforward

  • Segment reporting

 

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 they are approved

 

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.

 

Lease Administration  

  • Attach lease agreements, pictures, emails, etc.

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

  • Automatically create organized folders to store exported reports

  • Expiration alerts

 

System Requirements

  • On Premises version: Microsoft Access 

  • Saas (Cloud-based) version: Internet Connection

  • Works with any language supported by Microsoft Office

 
 
 
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GAAP Compliance  (Financial Accounting)

  • 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 implementation guidance

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

  • Proper calculation of the current portion of lease liabilities

 

Management Accounting

  • Budgeting - Future balances, expenses, and cash flows forecasts

  • Lease versus Buy analysis

  • Visual Charts

Multi-Currency

  • Remeasurement from local currencies to functional currencies, and translation to reporting currency.

  • Historic exchange rate maintenance for ROU assets AND amortization

  • Flexible reporting currency for analysis purpose