By: Joe Fitzgerald, Senior Vice President of Lease Market Strategy Spreadsheet applications are easily the most important and universal accounting tools used today—so much so that you’d never guess the…
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We’re diving into the intricacies of GASB 96, a significant standard that government entities need to adopt, now that following the implementation of GASB 87 has been implemented for some…
When it comes to commercial leases, there are various types and terms that can be confusing for both lessors and lessees. Among these terms are “triple net leases,” “pass-through leases,”…
When discussing financial statements, most people think about the two most common ones: the Income Statement (or Profit and Loss Statement) and the Balance Sheet. These two are fundamental in…
Accretion is a term often used in various industries, including finance, but it can sometimes be misunderstood or oversimplified. In its simplest form, accretion refers to the process of gradually…
Integrated Workplace Management Systems (IWMS) originated as a comprehensive solution for managing corporate real estate and facilities. Since its identification in 2003, IWMS has encompassed four key components: Real Estate…
In today’s fast-paced business landscape, small and mid-sized businesses (SMBs) face numerous challenges in managing their financial operations efficiently. As a business owner, you may be wondering “Do I need…
Managing lease escalation costs is one of the most complex and important responsibilities for corporate real estate executives. These costs, which often represent expense pass-throughs from the landlord to the…
Combining a lease audit service with a lease management system, such as Visual Lease, offers compelling benefits for organizations managing commercial leases. Commercial leases are complex legal documents, each with…
Understanding Accrued Rent & Deferred Rent Rent is one of the largest expenses that companies face, and it’s critical to properly account for it. Under ASC 842, rent is accounted…
In the realm of lease accounting, particularly under the guidelines of ASC 842, understanding what constitutes Initial Direct Costs (IDCs) is crucial. IDCs are expenses that a lessee incurs directly…
Lease subleasing might seem like a niche topic, relevant only to companies deeply entrenched in real estate dealings. However, it impacts more businesses than one might think. Whether you’re a…
Effectively managing accounts payable is crucial for maintaining healthy cash flow. Proper management not only reduces errors and late fees but also contributes to overall business success. Let’s delve into…
In the ever-evolving landscape of Environmental, Social, and Governance (ESG) reporting within real estate management, there has been a pivotal theme: the essential collaboration between real estate owners and occupiers,…
In the continuing exploration of the intersection between Environmental, Social, and Governance (ESG) reporting and the evolving landscape of real estate management, our series on ESG innovation dives deeper into…
In the rapidly evolving landscape of real estate and lease management, the convergence of data standards and environmental, social, and governance (ESG) considerations marks a pivotal era of transformation. We…
Managing a complex lease portfolio across real estate and equipment in global business operations presents significant challenges. Today, we dive into an insightful transformation journey spearheaded by the Director of…
In the ever-changing world of lease accounting, staying informed and compliant with the latest standards and regulations is crucial for all organizations. Zena Thomas, a distinguished Product Owner at Visual…
In the complex world of business, understanding the difference between lease accounting and lease administration is crucial. Although they might seem similar, they each have unique and important roles when…
It’s clear that the journey towards and beyond compliance with lease accounting standards (ASC 842, IFRS 16, & GASB 87) is fraught with challenges and opportunities. The strategic importance of…
Businesses have encountered unique opportunities to transform their lease portfolios from mere contractual obligations into dynamic, strategic assets. This evolution, spurred by effective lease management and the integration of cutting-edge…
As businesses navigate the complexities of the post-pandemic landscape, the question of whether to lease or buy equipment is more pertinent than ever. The global health crisis, followed by economic…
In the complex accounting landscape, fund accounting is a specialized area that demands meticulous attention, especially for non-profits, universities, hospitals, and governmental entities. Fund accounting is essential for these organizations,…
In this blog post, we will provide a comprehensive breakdown of GASB 87 and explain what you need to know. Revisiting the Introduction of GASB 87 The lease accounting standard,…
We’re diving into the intricacies of GASB 96, a significant standard that government entities need to adopt, especially following the implementation of GASB 87. The Essence of GASB 96 GASB…
In our latest blog post, we delve into the findings of our Visual Lease Data Institute (VLDI) research that sheds light on the evolving terrain of lease accounting. About the…
We’re delving into the complex world of lease accounting and its tax implications, particularly in the wake of the COVID-19 pandemic. We’ll share valuable insights into how businesses, especially retailers,…
Adopting the ASC 842 lease accounting standard has been one of the most impactful changes in accounting practices, particularly for private companies gearing up for compliance. Drawing from the experience…
In today’s fast-paced business environment, lease accounting has become an increasingly complex task for organizations. Manual processes and outdated tools like Excel not only pose a high risk of errors…
The management letter from auditors, typically received by CFOs after the annual audit, highlights key financial findings and suggests improvements for internal controls. It also informs about new accounting standards…
Does your business still use Excel for lease accounting? If so, you’re not alone — many other businesses do the same. But there’s a limit to what Excel can do…
Inaccurate lease accounting can lead to a host of problems for an organization, such as wasting time and resources and a failed audit. In the final stages of the auditing…
Using ASC 842 Excel Templates How to Create Customized ASC 842 Excel Templates Best Practices for Data Entry and Formula Setup Best Practices for Document Organization Common Challenges with ASC…
Table of Contents What is a lessee? What is a lessor? Who is the lessor and lessee in a contract? Benefits for a Lessor vs Lessee How to approach accounting…
Table of Contents How to Calculate the Present Value of Lease Payments in Excel Step 1: Organize Data Step 2: Use the PV Function Step 3: Repeat as Needed Cons…
Lease accounting and management have evolved into intricate processes, posing fresh challenges for financial leaders. From grappling with an accountant shortage to seeking enhanced lease flexibility during economic uncertainty and…
Lease management is more complicated than ever before. Tenants and landlords are navigating a lot of hurdles, including organizations’ need for greater flexibility – according to the Visual Lease Data…
California has taken a significant step toward addressing climate change by enacting the ground-breaking California Climate Accountability Package. This legislation not only sets the stage for comprehensive reporting of carbon…
In the world of commercial real estate leasing, Common Area Maintenance (CAM) charges play a pivotal role, impacting both landlords and tenants. CAM rent, often referred to as CAM fees,…
As a landlord, one of the most critical aspects of your rental property business is the lease agreement. A well-crafted lease agreement not only protects your interests but also provides…
Much like their for-profit counterparts, nonprofits must also follow specific financial reporting standards, including Accounting Standards Codification (ASC) 842. This blog post will delve into the essential aspects of ASC…
Leasing arrangements are a common aspect of business operations, allowing companies to secure assets and facilities without the commitment of ownership. However, within the realm of lease accounting, there’s a…
When it comes to managing leases and financial obligations, understanding how to calculate a lease amortization schedule is crucial. This schedule not only helps you keep track of payment timing…
In the realm of business decisions, the choice between leasing vs buying assets has significant financial implications. To help evaluate these options, the concept of “Net Advantage to Leasing” comes…
When it comes to real estate and leasing agreements, terms can sometimes get a bit muddled. One such pair of terms that often find themselves used interchangeably are “lessee” and…
Leasing is a common practice in business, allowing companies to acquire assets without a hefty upfront cost. However, situations arise where a lessee wants to transition from leasing to outright…
If your company is dealing with the complexities of lease accounting, you understand how crucial it is to stay accurate and compliant. Part of this process involves undergoing lease audits,…
The realm of commercial leases encompasses a complex lifecycle that spans far beyond the mere agreement itself. While it’s a subject that often invites surface-level discussions, grasping the full scope…
Navigating the world of lease accounting can sometimes feel like deciphering a complex code. The terms, regulations, and methodologies can leave even the savviest professionals scratching their heads. One such…
Navigating the Transition: Understanding Challenges Faced by Newly Public Companies and Strategies for Success In the dynamic landscape of public offerings, the surge in initial public offerings (IPOs) during 2020…
Visual Lease, LLC (hereinafter “VL,” “we,” “our,” and “us”) appreciates being given an opportunity to comment on the Exposure Drafts published by the International Sustainability Standards Board (hereinafter the “ISSB”)…
Visual Lease, LLC (hereinafter “VL,” “we,” “our,” and “us”) appreciates being given an opportunity to comment on the Exposure Drafts published by the International Sustainability Standards Board (hereinafter the “ISSB”)…
In the world of leasing agreements, there can be some confusion when it comes to the terminology used by attorneys and accountants. One such term is the “lease commencement date.”…
Contract management plays a crucial role in modern business operations, ensuring effective collaboration, risk mitigation, and regulatory compliance. With the growing importance of environmental, social, and governance (ESG) considerations, contract…
VL experts break down the recently announced sustainability reporting standards from the International Sustainability Standards Board (ISSB) The first-ever set of standards recently unveiled by the International Sustainability Standards Board…
Lease incentives play a crucial role in lease agreements, representing payments made by the lessor either to the lessee or on behalf of the lessee. These incentives are an integral…
As businesses increasingly recognize the importance of environmental, social, and governance (ESG) factors, the concept of ESG accounting has gained prominence. This blog post aims to shed light on ESG…
In recent times, the importance of sustainability in financial reporting has gained significant traction. To address this growing need, the newly formed International Sustainability Standards Board (ISSB) has released two…
In the realm of financial management, companies are faced with critical decisions regarding capital budgeting. These decisions involve allocating funds to various investment opportunities. Additionally, companies often seek the assurance…
Lease purchase options provide companies with the opportunity to convert a lease into a fixed asset. These options allow lessees to exercise their right to purchase the leased asset during…
In the realm of financial accounting, fixed asset accounting holds significant importance for companies. It involves the meticulous tracking and management of owned assets, ensuring their existence, location, and allocation…
What is Prepaid Rent? Prepaid rent refers to lease payments made in advance for a future period. It represents an asset on the company’s balance sheet, as the prepayment can…
Leasing an asset with the intention to eventually purchase it is a common practice among businesses. Whether it’s an optional purchase at the end of the lease or a bargain…
Update: On June 26, 2023, The International Sustainability Standards Board (ISSB) announced their first two global sustainability-related disclosure standards in response to widespread demand for better transparency, consistency and reliability…
Finance leases and operating leases are two common types of lease arrangements that businesses encounter. With the introduction of the ASC 842 accounting standard, the classification and treatment of leases…
Off-balance sheet financing refers to financial arrangements that are not reflected on a company’s balance sheet. Historically, operating leases were a prime example of off-balance sheet financing, where lease obligations…
From Compliance to Optimization: Harnessing Lease Controls for Business Success Lease accounting standards implemented over the last few years (ASC 842, IFRS 16, GASB 87) require all organizations, whether they…
Fixed Asset Accounting: Managing Assets and Leasehold Improvements In the realm of financial accounting, fixed asset accounting holds significant importance for companies. It involves the meticulous tracking and management of…
ESG and the Future of Real Estate: How Sustainability is Changing the Industry The real estate industry is undergoing a significant transformation as sustainability becomes a top priority for investors…
Recently, the Financial Accounting Standards Board (FASB) introduced new rules and clarifications regarding the treatment of related party leases under ASC 842. Although these rules apply to all related party…
After the introduction of ASC 842, some private companies have struggled with the requirement to record the vast majority of their leases to the balance sheet. As a result, some…
“Why Lease Management Shouldn’t Be Ignored: The High Cost of Underestimating Your Lease Portfolio and How to Optimize It for Your Business Needs” Many companies are underestimating the total cost…
The ongoing effects of the pandemic, evolving workplace trends and unique economic circumstances have driven businesses to reconsider how and why they enter into new leases. But how exactly are…
This is part II of our Mastering Lease Accounting Compliance series. If you missed part I, you can read it here. Adopting a lease accounting standard can have a significant…
This is part I of our Mastering Lease Accounting Compliance series. If you’re looking for part II, you can read it here. Lease accounting standards such as ASC842 and IFRS16…
In response to lease accounting standards, your business may have already set in place certain lease accounting systems and technology to achieve compliance. But did you know these solutions can…
Today, many organizations lack control over their leases, which increases the risk of making costly errors, such as overpaying or missing a date for termination or renewal. (90% of senior…
Accounting teams are often left scrambling to find lease information needed to wrap up the year and prepare for their audit. As businesses approach year-end, how can they ensure an…
To maintain accurate accounting, many companies must follow generally accepted accounting principles (GAAP or US GAAP), which work on the assumption that almost every type of business asset loses value…
Do your lease footnote disclosures comply with the new lease accounting standards? The footnotes of your financial statements must include certain information from your lease contracts. And with the newly…
The verdict is in: the Financial Accounting Standards Board (FASB) will not issue a third delay to the ASC 842 effective date for private companies, which will take effect Dec. 15, 2021….
The FASB on November 11, 2021, published a narrow amendment to ease lease accounting rules for private companies and nonprofits, enabling lessees to have a moreflexible way to elect a…
Joe FitzgeraldSVP of Lease Market StrategyVisual Lease On November 10, 2021, The Financial Accounting Standards Board (FASB) decided not to issue a third delay to the ASC 842 effective date for private companies. It was widely agreed that after two prior...
Read MoreThe Financial Accounting Standards Board issued an accounting standards update Thursday in an effort to simplify the discount rate guidance for lessees that aren’t public companies, including private companies, nonprofits and employee…
Woodbridge, NJ – July 15, 2021 — Visual Lease, provider of the #1 lease optimization software, has been ranked among the Top 100 Software Companies of 2021 by The Software Report. Visual...
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Provides a proven and fully supported path to achieve lease accounting compliance with GASB 87 in 50 business days or less Woodbridge, NJ – July 12, 2021 — Visual Lease,...
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Woodbridge, NJ – June 29, 2021 — Visual Lease, provider of #1 lease optimization software, has been identified by G2 as a “High Performer” in the Summer 2021 quarter for Lease...
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Woodbridge, NJ – June 22, 2021 — Visual Lease, provider of the #1 lease optimization software, today announced that Guy Zerega has joined the organization as Senior Vice President of Sales, responsible...
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Woodbridge, NJ – June 21, 2021 — Visual Lease, provider of the #1 lease optimization software, has been named a Top Workplace in 2021 by NJ.com. This recognition comes on the heels...
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In-house team regularly shares valuable insights to help companies gain confidence with their compliance to ASC 842 and GASB 87 Woodbridge, NJ – May 10, 2021 —Visual Lease, the #1 lease optimization software, now offers complimentary workshops to help organizations achieve and maintain compliance with the new lease accounting...
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Woodbridge, NJ – May 4, 2021 — Visual Lease, the #1 lease optimization software, has been honored with a Bronze Stevie® Award in the Fastest Growing Company of the Year category in...
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Company continues to make strategic investments to help organizations manage, account for and maximize every asset within their lease portfolio Woodbridge, NJ – April 19, 2021 — Visual Lease, the...
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Research uncovers how the pandemic has impacted landlords and tenants, and trends to expect within the commercial real estate market Woodbridge, NJ – January 25, 2020 —Visual Lease, the #1 lease optimization software, published its lease market trends report, which explores how the leasing industry has changed as a result of COVID-19. In 2020, the...
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Company grows its customer base by 21% and revenue by 22% YoY, emerges as the market’s leading lease optimization software Woodbridge, NJ – January 19, 2020 — Visual Lease, the...
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Woodbridge, NJ – December 17, 2020 — Visual Lease, the leader in lease accounting and management software, today announced the company was named No. 10 on NJBIZ’s list of New...
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The new lease accounting standards include a variety of disclosure reports to give financial auditors visibility into an organization’s leasing activities. Although the standards do not explicitly mention roll-forward…
How to Abstract, Manage and Report on Lease Data When FASB issued its update to the lease accounting standard, the main goal was to increase the transparency and comparability of financial reporting. …
In the current economic environment, businesses are searching for new ways to save cash. However, they often overlook one critical aspect of their business: real estate management. Real estate leasing…
As COVID-19 has wreaked havoc on the CRE industry, many tenants have been forced to make tough decisions when it comes to commercial real estate leases. Marc Betesh, founder and…
The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) intended to improve three areas of the leases guidance.
Following the FASB’s recent decision to extend the deadline for its ASC 842 standard for a second time, privately held companies have an additional 12 months to prepare to comply…
Marc Betesh interviewed with Akiko Morris at The Real Deal around TikTok’s lease and the growing work from home trend.
Marc Betesh quoted throughout the article about Simon Property Group, the biggest mall owner in the country,being in talks with Amazon to turn some of the vacant anchor stores in…
COVID-19 has already impacted the market for leased real estate and companies’ plans for leasing. In fact, 30 percent of 109 respondents to a recent survey conducted by Compliance Week…
A large number of companies have failed to make rent payments on their unoccupied commercial properties as ongoing COVID-19 shelter-in-place orders have shuttered operations.
View the latest article from Monitor Daily which features a guide on this year’s best commercial real estate apps.
Visual Lease released its latest product, 20.2, providing expanded lease accounting and reporting capabilities for global and national companies required to comply with GASB 87 and FASB 842.
The legislation “significantly impacts the validity of existing contracts,” quoted Marc Betesh. “It would completely undermine the real estate industry and the economy. If you can’t rely on the validity…
Visual Lease supports the local town of Woodbridge, NJ with donations to support essential workers during COVID-19.
Restaurants and retailers are seeking rent concessions this spring to ease cash flow as stay-at-home orders slammed their businesses.
While the deadline for FASB lease accounting compliance will likely be pushed back, now is certainly not the time for your clients to press pause on getting a handle on…
