The rapid path to FASB/IFRS lease accounting compliance trusted by the experts
Visual Lease’s cloud-based lease accounting software is the turnkey solution used by over 300 organizations worldwide, including Fortune 500 companies and rapid-growth startups.
- Day one: meet your deadline for compliance with the new FASB and IFRS lease accounting standards.
- Day two: make better decisions with next-gen forecasting and analytics.
- Certified by all major global accounting firms.
- Suitable for a variety of industries, including financial services, energy, retail, health care, manufacturing/logistics, technology & more.
- Flexible to manage your unique lease accounting needs, such as variable/percentage rent, lessor/sublease accounting, re-measurement, sale-leaseback and more.
- Backed by advanced security and world-class professional services.
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FASB Lease Accounting Module
Visual Lease is the fastest and easiest path to compliance with the new FASB lease accounting standard (FASB ASC 842), while maintaining compliance with the current standard (FASB ASC 840).
- Quickly import data from existing repositories and spreadsheets with our data migration engine.
- Partner with our lease experts to abstract lease data points from source documents.
- Easily classify leases with our automated lease test.
- Perform accurate calculations for a variety of lease types.
- Integrate with more than 50 GL/AP platforms to create accurate automated journal entries.
- Generate required disclosure reports.
IFRS Lease Accounting Module
Visual Lease is the enterprise solution for global companies facing the need to comply with the new IFRS lease accounting standard (IFRS 16).
- Quickly and easily migrate data from multiple sources, such as regional repositories, lease administration databases, IWMS systems and Excel spreadsheets.
- Store and report on data in multiple languages and currencies.
- Trust your lease data abstraction to our lease experts who understand the terms and complexity, especially for real estate leases.
- Classify capital/finance and operating leases with our lease test.
- Perform all required calculations for any lease scenario and send automated journal entries to your GL/AP/ERP platform.
- Create required disclosures and easily generate real-time Excel reports.
Seamless integration with GL/AP systems
Visual Lease integrates with Oracle, SAP, PeopleSoft, Power Plan, Workday, NetSuite, JD Edwards & 50+ more platforms to automate GL journal entries and create cash transactions in your AP/AR system. We can also interact with multiple GL systems across different regions or business units.
Fast and easy data migration
Whether you need to move to FASB ASC 842 or IASB IFRS 16 (or both), Visual Lease’s data migration engine streamlines the process of importing data from spreadsheets and existing databases. Our expert lease data abstraction team will also extract the relevant data points from your lease documents.
Automated journal entries
Calculate and send real-time journal entries to your general ledger as required to comply with the new lease accounting standards. At the same time, create journal entries compliant with the current standards for the transition period.
Lease expense management
Automate AP operations to streamline processing of cash payables and expenses. Never miss payments and never pay the wrong amount. Track payments in all global currencies. Allocate costs across regions or business units, or even among different budget centers with multiple-GL support. Generate financial reports for compliance with FASB ASC 842, IASB IFRS 16 and other requirements.
Fast and flexible lease reports including disclosures
The Visual Lease reporting module generates the required disclosure reports under FASB & IASB guidance. You also get a flexible drill-down reporting and business intelligence tool that helps you discover new value in your leased portfolio with forecasting and analytics.
Accurate lease accounting for percentage rent
For retailers, integrate Visual Lease with your POS and accounting systems to correctly calculate percentage (turnover) rent payments. Pro-actively manage not only the lease accounting calculations and journal entries, but also track financials, critical dates, transactions and projects associated with each location.