![]() ![]() ![]() This allows you to keep tabs on lease terms, renewal deadlines, and lessee contact and payment information. Many lease accounting solutions can also store lease data. Having an up-to-date solution will keep you compliant even as the standards change over time. Lease accounting software streamlines these calculations, ensuring you’re reporting in compliance with each standard. Staying in line with the new FASB and IASB standards requires complex calculations to determine which leases need to be included on the balance sheet. These solutions are most commonly used by real estate professionals and equipment rental companies that need to ensure their financial records comply with FASB and IASB standards. The accounting system will track payments made, send invoices, and create financial reports. Lease accounting software keeps track of the income and expenses primarily involved in equipment and property rental businesses. ![]()
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