Are you ready for the new FASB lease accounting changes in ASC 842?
The new FASB lease accounting standard (ASC 842) requires major changes to the way you track and report on leases. Whether your lease data is in spreadsheets, paper documents or even in an existing system, Visual Lease is the end-to-end solution that can help you centralize your data and get compliance-ready fast. We’ll also be there to support you through the transition and simplify your process on Day 2.
Visual Lease is endorsed by the big 4 and more
- Visual Lease is certified by all major global accounting firms.
- Our cloud-based solution is installed at over 300 clients worldwide, including Fortune 500 companies.
- Grant Thornton has named Visual Lease as the preferred solution for their clients. Our system integrates directly with their LeaseX data repository.
Accurate FASB lease accounting calculations, reporting and journal entries
- FASB lease accounting module calculates journal entries under current and new standards (FASB ASC 840 & ASC 842).
- Generate real-time reporting within your general ledger or using Excel.
- Automate journal entries to your general ledger(s) or ERP, including Oracle, SAP, PeopleSoft, Power Plan, Workday, NetSuite, JD Edwards & 50+ more.
- Generate required disclosure reports under FASB ASC 842 guidance.
A complete solution for all types of leases
- Visual Lease tracks and reports on all types of leases, including real estate, vehicles, technology and office equipment, and other assets.
- Our expertise in real estate means we handle the added complexities associated with property leases that others miss.
- Our automatic capital lease test makes it simple to classify your leases.
Expert lease abstraction services
- Partner with our lease data experts to abstract your PDF leases into relevant data points.
- Choose a rapid FASB-focused abstraction or extract all lease data points quickly and efficiently.
- AI-supported lease abstraction is available to speed large projects.
Streamlined data migration
- Companies expect collecting and importing FASB lease accounting data to be a major challenge. Our data migration engine simplifies and speeds the process.
- Ask us about FASB ASC 842 Excel templates that help you collect and organize your company’s data.
- Our Transition Wizard walks you through the process of moving from FASB lease accounting for ASC 840 to ASC 842.