Operating Lease Accounting Standard
Businesses will be forced to make monumental changes in their operational lease accounting practices, and Visual Lease provides a solution to help keep them in compliance with the latest operating lease accounting standard.
No longer will operating leases be kept off the balance sheet — the latest update to FASB accounting standards will dictate that any lease with greater than 12-month terms will be required to make it on the balance sheet.
With our operating lease solutions, you can record interest and amortization of assets separately from base rent payments or use a straight-line method. Regardless of which option your accounting department selects, Visual Lease handles all of the calculations and keeps your business in compliance with the latest standards — it’s easy and efficient for your operation.
Automate your operating lease accounting for all types of assets
With our operating lease software, you are able to utilize FASB- and IFRS-compliant accounting modules that can handle lease accounting for items that range from property and equipment to vehicles.
Many businesses opt for operating leases above capital leases. With operating leases, there is no transfer of ownership or bargain purchase option, amongst a wide range of other key differences. Visual Lease provides operating lease accounting standard-compliant software to aid the businesses that leverage these types of leases within their operations.
Access and work with lease data in a streamlined fashion
With our operating lease solutions, you can import lease data thanks to Visual Lease’s supreme integration capabilities. From calculating monthly and annual expenses to determining the present value of assets and much more — Visual Lease is a powerful tool that provides any and all insightful data on your operational leases.
Learn more about how Visual Lease keeps you in compliance with the latest operating lease accounting standard. Consult with our team or take Visual Lease on