Visual Lease for Lease Accounting

Changes to financial reporting standards, specifically ASC 842 in the US and IFRS 16 internationally, have created a need for specialized software to help manage financial reporting associated with leases. Visual Lease provides you with all of the relevant calculations of right-of-use assets, interest expense, liability and other elements under FASB and IASB guidance, and then maps them to your organization’s financial accounting systems.  Visual Lease also provides you a cross-functional system, with full lease administration functionality to help manage your lease portfolio on a day-to-day basis.

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Built-In Lease Administration

The new lease compliance standards are not “set and forget” – they require that you update your disclosures continuously to accurately reflect the condition of your lease portfolio.  Visual Lease helps you manage remeasurements, modifications, hypothetical and retrospective scenarios to ensure that your organization is up to date on its disclosures.

Leveraging a platform that has both lease accounting and lease administration helps ensure that from day one, procurement, accounting and real estate teams are aligned and consistent.  Implementing one system can also enable fast and easy data migration.

Unique Vizualizations™ Reporting

Choose from more than 100 standard reports – including ASC 842 and IFRS 16 disclosures – or drill-down with Vizualizations™, our easy-to-use ad-hoc report builder. Vizualizations™ are fully configurable and can report on every field in Visual Lease.  You can build a report to fit any reporting scenario.

Lease Accounting Journal Entries

The new lease accounting standards are shifting the way companies report on their lease portfolios. Under ASC 842 and IFRS 16, organizations are required to record assets and liabilities on the balance sheet for almost every leased asset.  For US GAAP, each lease must be classified as an Operating or Finance lease to determine the correct lease accounting treatment

Lease Reporting

With Visual Lease disclosure reporting, your lease data is quickly and easily organized and summarized, and supported by corresponding journal entries.  Reports also provide a complete breakdown of lease data over time with robust reporting tools. Easily drag any data point into a report to create ad hoc analyses and BI dashboards.

Lease Accounting Solutions For Every Portfolio

Track any type of asset – from real estate to equipment.  Automatically classify Finance and Operating leases with our built-in test.

Real Estate

Real estate leases can include hundreds of legal, operational and financial data points, all of which can be tracked in Visual Lease.

Equipment

Track IT equipment, machinery, fleet vehicles, aircraft, land, medical devices, vineyards and other unique assets.

Finance

Provides guidance in calculating the correct useful life and amortization of leased assets.

Operating

Aids in the creation of asset and liability balances and calculates straight-line rent expense.

Experienced, Streamlined Implementation

We provide you with a tailored approach throughout every step of implementation to ensure a seamless adoption of our software. Right from the start, your specific goals are identified within a project plan, and we work closely with you in configuring the platform to reflect your unique processes and needs.

General Ledger, ERP and Accounts Payable Integrations

Visual Lease has extensive lease accounting functionality, which allows it to serve as a subledger to your general ledger for lease transactions. In addition, Visual Lease allows for the creation of one-time and recurring journal entries that can be transmitted to your organization’s ERP system.

Industry-Specific Solutions

Some industries, such as the retail industry, have variable rents that are driven by sales or other factors.  With Visual Lease, you can create custom formulas to automatically take incorporate sales and other data to calculate the variable rents.  Visual Lease is industry-agnostic and has the tools to accommodate virtually any unique lease structure.