FASB New Lease Standard
Is your company ready for the implementation of the FASB new lease standard? Public companies will be responsible for complying with FASB lease accounting rule changes, effective December 15, 2018.
Private companies have a little more planning time, with fiscal year compliance beginning on December 15, 2019. Industry professionals agree that early planning is the key to making sure your efforts comply with federal regulations. Even if you have not yet established your transition team, you can still begin your implementation plan with the help of technological FASB new lease accounting solutions.
At Visual Lease, we know how difficult it can be to not only manage your company’s leased assets, but also to transition to a new information management software. We make the process easy, providing you with a strong data reporting system that eliminates uncertainty about the new FASB rules. Let us show you the Visual Lease difference.
How we support your transition to the FASB new lease standard
Visual Lease offers lease management solution for all company assets — from vehicles to office equipment, from property to technology investments. Our one-stop shop is designed to make reporting quick, easy and effective. Benefits of working with our software through the FASB lease accounting rule changes include:
- Faster, more accurate reporting that uses customized templates to deliver the data that is most important to you
- Real-time reporting within your general ledger or Excel
- Automated journal entries that integrate with virtually all available general ledgers and ERPs
- Assistance from a “transition wizard” to walk you through the specifics of the rule change.
At Visual Lease, we view ourselves as your partner in adopting the FASB new lease standard. Getting our team on board early means that your company will have fewer worries, complaints and errors in reporting moving forward. If you are ready for a simple, user-friendly solution to your lease oversight and management issues, it is time to contact Visual Lease. Click to schedule a demonstration for your team today.