ASC 842 PWC Lease Accounting
Is your company fully complying with ASC 842 lease accounting requirements? These regulations require that all lessees include a lease liability and right-of-use asset on their balance sheet for all lease agreements longer than one year.
The PWC lease accounting change is momentous because it is part of the first general overhaul of leases since the FAS 13 was released in the 1970s. Understandably, many companies are taking extra time to understand how the new methods of expense recognition and accounting reporting could affect their organizations.
If your team is still not using a centralized lease management and accounting system, these changes could be just the catalyst you need to move to a system like Visual Lease. Our company offers PWC lease administration software that makes data access and analysis simple, quick and effective. Let us help you ease the transition with our high-quality, easy-to-use lease management software.
What Visual Lease can mean for your ASC 842 lease accounting program
At Visual Lease, we work to customize an implementation approach that matches your company’s current state. Whether you are currently using paper documents, Excel tools, or another lease management system, we make it easy to organize and migrate your data to our state-of-the-art management platform.
Our PWC lease accounting software can provide you with assistance in:
- Calculating journal entries in accordance with the new standards
- Generating real-time reporting through a general ledger or Excel export system
- Generating required reports under the ASC 842 guidance
- Automatically classifying your leases based on a capital lease test
- And more!
With more than 350 global clients using our sophisticated ASC 842 lease accounting system, Visual Lease is proud to be the industry leader in lease management software. If you are still struggling with an adoption plan for the new regulations, let our team help. Visual Lease representatives are available right now to help you schedule a product demonstration. Learn more through a free demo.