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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Lease accounting is a massive, cross-functional effort. It involves various stakeholders and systems that impact (and are impacted by) leases. It is not just an accounting problem – and goes…
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,”…
WASHINGTON (October 22, 2024) – CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, announced today that it has reached…
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…
National survey reveals 100% of Finance Executives are concerned with maintaining control over their lease portfolios Woodbridge, NJ – Oct. 22, 2024 — Visual Lease (VL) the premier platform for…
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…
What is the Incremental Borrowing Rate? Among the many different calculations used in lease accounting, the incremental borrowing rate may be one of the most misunderstood. Theincremental borrowing rate (IBR)is…
Lease audit procedures are necessary for an efficient, successful audit. At their core, lease audit procedures ensure your organization has controlled processes in place to support its financial reports. Having...
Read MoreIn 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…
For the past three years, Visual Lease (VL) has hosted its Customer Advisory Board (CAB) Summit to engage directly with our most forward-thinking customers and partners. This year’s event in…
Leases are complex documents that can be challenging to interpret. Critically important details are often buried deep within a lease and can be (literally) hard to find. — Multiply that…
Industry leaders join forces to streamline data management and maintain financial and sustainability reporting controls for real estate and equipment-related datasets Woodbridge, NJ – September 9, 2024 — Visual Lease…
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…
Visual Lease’s latest platform extension continues to gain industry recognition for helping organizations track and report on environmental impact data in accordance with all major frameworks and regulations Woodbridge, NJ…
Woodbridge, N.J. –April 11, 2024 – Visual Lease (VL), the #1 lease optimization software provider, today announced its Q1 results, reporting sustained double-digit annual recurring revenue and customer percentage growth,…
Table of Contents ASC 842 Lease Accounting ASC 842 Summary of Changes How to calculate a lease liability under ASC 842 How to Transition to ASC 842 ASC 842: Financial...
Read MoreIt’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…
Carbon accounting and sustainability management solution recognized for empowering Enterprises with the data and visibility needed to progress toward their ESG goals Woodbridge, N.J. –February 8, 2024 – Visual Lease…
Lease optimization software provider redefines excellence with a single system of record for lease accounting, management and sustainability tracking Woodbridge, N.J. – January 18, 2024 – Visual Lease (VL), the…
Solution provider is recognized for empowering companies to leverage their lease portfolios for strategic financial and operational outcomes Woodbridge, N.J. – Dec. 21, 2023 – Visual Lease (VL), the #1…
Your business already uses Excel for many accounting calculations, including for ASC 840 lease accounting, so it’s understandable that you may want to consider continuing to use it as an…
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…
Survey reveals 84% of enterprise organizations are prioritizing lease management due to lease accounting standards and emerging regulatory requirements around environmental impact reporting Woodbridge, N.J. – Oct. 31, 2023 –…
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…
Table of contents: What are leasehold improvements? Examples of leasehold improvements Are Leasehold Improvements Considered Lease Incentives? How leasehold improvements impact ASC 842 As you navigate the complexities of ASC...
Read MoreLease 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…
Longstanding pioneer in lease management and accounting continues to advance its platform capabilities to address evolving environmental reporting requirements Woodbridge, NJ – October 16, 2023 — Visual Lease (VL), the…
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…
Woodbridge, NJ – September 27, 2023 — Visual Lease (VL), the #1 lease optimization software provider, today announced the winners of its annual Customer Excellence Awards, recognizing organizations that are…
Woodbridge, NJ – September 19, 2023 — Visual Lease (VL), the #1 lease optimization software provider, today announced the company’s newest offering, VL ESG Steward™, has been recognized by the Business…
Getting clear insight into sustainability metrics means understanding your company’s real estate footprint
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…
Company’s proven SaaS solutions are recognized in first analyst report dedicated to full lease portfolio management Woodbridge, NJ – August 29, 2023 — Visual Lease (VL), the #1 lease optimization…
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…
Company invests in its Partner network in preparation for the next stage of growth Woodbridge, NJ – August 8, 2023 — Visual Lease (VL), the #1 lease optimization software provider,…
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…
Dedicated investments in its solutions, services and leadership expand company value Woodbridge, NJ – July 13, 2023— Visual Lease, the #1 lease optimization software provider, today announced its results from…
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…
Company continues to demonstrate its commitment to strategic growth and operational excellence Woodbridge, NJ – July 6, 2023 — Visual Lease, the #1 lease optimization software provider, today announced the…
Carbon accounting, sustainability management and ESG reporting tool receives global recognition on the heels of newly announced international sustainability standards (IFRS S1 and IFRS S2) Woodbridge, NJ – July 5,…
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…
Company’s innovative solutions and customer-centric approach drive accelerated growth Woodbridge, NJ – April 19, 2023 — Visual Lease, the #1 lease optimization software provider, today announced its results from Q1…
The first sustainability-focused lease tracking and reporting software designed to help companies meet their environmental policy goals Woodbridge, N.J. – March 29, 2023 — Visual Lease, the #1 lease optimization…
88% of businesses are planning for physical space needs just one year or less in advance Woodbridge, N.J. – February 22,2023 — Visual Lease, the #1 lease optimization software provider,…
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…
Company achieves its fifth consecutive year of double-digit annual recurring revenue and customer growth Woodbridge, NJ – January 19, 2023 — Visual Lease, the #1 lease optimization software provider,…
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…
Company continues to strengthen senior leadership team and invest in product innovation Woodbridge, NJ – January 9, 2023 — Visual Lease, the #1 lease optimization software provider, today announced its…
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…
On-demand webinar summary How do you maintain confident, ongoing lease accounting compliance as your leases evolve? In our recent webinar, Why Sustained Lease Accounting Compliance Depends on Automation, lease accounting...
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When considering the financial impact of your lease portfolio, there are five questions to keep in mind. Detailed below, answering these questions can help you better understand: Your readiness for…
On-demand webinar summary Your lease portfolio requires consistent upkeep to remain compliant with ASC 842. As your leases change, how will you stay audit-ready? In our recent webinar, How to...
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On-demand webinar summary Without a firm grip on your leases, you will likely have trouble sustaining accurate lease data. This puts your business at risk of misreporting company lease information...
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Organization continues to invest in its leadership team to drive its next stage of growth Woodbridge, N.J. – November 1, 2022 — Visual Lease, the #1 lease optimization software provider,…
Company welcomes Visual Lease customers and partners to two-day event to network, discuss the future of lease accounting and recognize award-winning accounts Woodbridge, NJ – October 28, 2022 — Visual…
Leading technology provider joins forces with top accounting advisors to help companies master their lease administration and accounting software implementation Woodbridge, N.J. – October 27, 2022 — Visual Lease, a…
GASB 87 effective date Deadline for companies Fiscal years beginning after June15, 2021 GASB 87 Summary Issued by the Governmental Accounting Standard’s Board, GASB 87 is the new lease accounting...
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Leading provider of lease accounting, administration and optimization software continues to make strategic investments to elevate its technology, services and team Woodbridge, NJ – October 13, 2022 — Visual Lease,…
It’s been a pivotal year for Visual Lease. Over the past several months, we welcomed Robert Michlewicz as our new CEO, Amie Durr as SVP of Product and continue to...
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On-demand webinar summary Businesses commonly struggle to adapt the new methodologies and technology to achieve lease accounting compliance. In fact, one-third (33%) of private companies are still not fully prepared...
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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…
Alexandra Betesh to amplify the voice of the customer in the company’s solutions, services and strategic partnerships Woodbridge, NJ – October 5, 2022 — Visual Lease, the #1 lease optimization…
On-demand webinar summary Are you confident that you have the resources you need to prepare your business for ASC 842 adoption? It’s important to anticipate and plan on meeting important...
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On-demand webinar summary Lease management is integral to achieve and maintain lease accounting compliance. But that’s not the only opportunity it presents. In fact, 100% of recently surveyed senior finance...
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On-demand webinar summary The latest report from The Visual Lease Data Institute (VLDI) features key findings and insights into market readiness for private companies and government entities. In our recent...
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On-demand webinar summary How do you avoid the risks of improper ASC 842 adoption? Inaccurate lease accounting financials can result in a failed audit, additional fees and fines, so you...
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Organization included on The Inc. 5000 List for third consecutive year, also receiving a 2022 PropTech Breakthrough Award, 2022 SaaS Award and 2022 Stevie Award for Employer of the Year…
New CEO makes first strategic hire to empower organization to further expand its offerings Woodbridge, N.J. – August 8, 2022 — Visual Lease, the #1 lease optimization software provider, today…
On-demand webinar summary Before the new lease accounting standards, many companies lacked visibility into their lease portfolio. This cost many businesses millions of dollars in overpaid rent, missed lease options...
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Founder and current CEO, Marc Betesh, transitions to Executive Chairman as company continues to expand and evolve Woodbridge, NJ – August 1, 2022 — Visual Lease, the #1 lease optimization…
Even though leases typically comprise a major piece of a business’ budget, most companies don’t know how much their leases cost and many are unsure about how to account for…
The new lease accounting standards under ASC 842 are sticky, demanding, and—after multiple delays—most definitely here for all companies, whether public or private when the Financial Accounting Standards Board finally…
The new lease accounting standards under ASC 842 are sticky, demanding, and—after multiple delays—most definitely here for all companies, whether public or private when the Financial Accounting Standards Board finally…
Private companies and government entities continue to face challenges around properly managing and reporting their leases in accordance with the new lease accounting standards Woodbridge, N.J. – July 25, 2022…
The only software provider recognized as a Leader by G2 in Lease Administration and Lease Accounting continues to achieve double-digit annual recurring revenue, customer and employee growth YoY Woodbridge, NJ…
Written by: Robert Michlewicz, President at Visual Lease I was drawn to Visual Lease for several reasons, one of the biggest is how the company is leading the market in…
Have you ever wondered how the public can participate in the development of accounting standards? Do you have opinions you would like to share? Many accounting standards governing bodies, such…
On-demand webinar summary Having accurate, reliable lease data is a necessary part of achieving lease accounting compliance. But beyond lease accounting, having visibility into lease data also supports businesses manage...
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Do you know where all your leases are? If you don’t, chances are you haven’t conducted a lease inventory for your business. Conducting a lease inventory is a standard practice…
Technical accounting expert from leading independent audit, tax and advisory firm will join the VL team to share exclusive insights on lease accounting compliance Woodbridge, NJ – June 14, 2022…
Suppose you’re an accountant who manages leases or a lease administrator working for a state, country or local government. You may even work for a public entity such as a...
Read MoreAs part of my series about the “5 Things You Need To Know To Create a Successful App or SaaS”, I had the pleasure of interviewing Marc Betesh. Marc Betesh…
Professionals on the Move is a round-up of recent staffing announcements and promotions in and around the tax and accounting space. Carrie Summerlin Named FICPA’s New Chief Growth & Innovation…
Fin-tech veteran to oversee strategic business operations at the leading lease accounting and management solution provider Woodbridge, NJ – June 1, 2022 — Visual Lease, the #1 lease optimization software…
How to make an informed decision on your lease accounting solution Investing in a dedicated lease accounting solution is the best way to achieve GASB 87 compliance. The lease accounting...
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On-demand webinar summary Lease accounting is an incredibly time-consuming, complex endeavor that involves a lot of initial preparation, cross-departmental collaboration and ongoing maintenance. So, how can businesses ensure their lease…
On-demand webinar summary Do you know if you are overpaying for your leases? Unfortunately, many businesses are, but are not aware of it until after they begin tracking their lease…
The introduction of lease accounting standards has forever altered how public, private and government entities manage, track and report on their leases. To understand more about the leasing sector and…
The new lease accounting standards have radically changed the way private and public companies record leases on the balance sheet. Naturally, this had a direct impact on lessees, lessors and…
$("#cta_display_btn").attr("href", "https://visuallease.com/gasb-product-tour"); $('#cta_display_row').find('p').text('GASB 20-Minute Product Tour Wednesdays at 1:30PM ET'); On-demand webinar summary The GASB 87 Roundtable Discussion is a webinar series hosted by Visual Lease. Each webinar provides insights...
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On-demand webinar summary According to a recent VLDI survey, 35% of private companies were less than halfway through or had not yet started the process of gathering information needed to…
In response to the ongoing impact of the global pandemic on revenues and business operations, companies are evolving how they prioritize and manage their commercial real estate leases. Many organizations…
Company achieves double-digit YoY annual recurring revenue, customer and employee growth Woodbridge, NJ – April 18, 2022 — Visual Lease, the #1 lease optimization software provider, today announced results from…
Industry leader continues to host virtual events to help companies master lease accounting compliance Woodbridge, NJ – April 12, 2022 —Visual Lease, the #1 lease optimization software provider, announced its…
We’re back in 2022 with a Season 2 bonus episode! After a bunch of attempts to connect at the end of 2021, Marc and Chase finally got together to discuss…
The standard in some ways parallels the ASC 842 leases standard for public and private companies and nonprofits from the Financial Accounting Standards Board and the IFRS 16 leases standard…
The introduction of new lease accounting standards (ASC 842, IFRS 16 and GASB 87) has had a significant impact upon accounting and reporting for U.S. publicly traded and private companies,…
The past two years have shuffled business priorities and workflows, which has left many companies catching up on their transition to the new lease accounting standards (ASC 842, GASB 87,…
What is IFRS 16? IFRS 16 Summary: What is IFRS 16? The International Accounting Standards Board (IASB) published the new IFRS 16 lease accounting standard, which replaces IAS 17. For…
In early 2020, the COVID-19 pandemic redefined how businesses operate. Today, they continue to grapple with the ongoing effects of shutdowns, rent crises, supply chain issues and inflation. Many have…
When discussing commercial real estate, you’ll often hear about build-to-suit (BTS) leases, in which the landowner agrees to construct a property according to the requirements of the lessee, and the lessee…
Table of Contents What is GASB 96? Who does GASB 96 apply to? What is a SBITA under GASB 96? What is an Example of a SBITA? What contracts are...
Read MoreAs lease terms shorten, the value of properties becomes more uncertain. If the pandemic has infused business with any one idea, it’s flexibility. Companies need to be flexible to get…
The Financial Accounting Standards Board (FASB) recently issued an update to ASC 842 that addresses complexities associated with discount rate calculations. In this blog, we share how this update affects private…
Company achieves double-digit YoY annual recurring revenue and customer growth for fourth consecutive year Woodbridge, NJ – January 20, 2022 — Visual Lease, the #1 lease optimization software provider, today…
Lease accounting can easily become an administrative and logistical nightmare for many. Companies tend to underestimate the work involved in preparing documents that comply with FASB and other standards. Proper…
Industry leader to host a series of virtual events, sharing valuable insights to help companies master lease accounting compliance Woodbridge, NJ – January 11, 2022 —Visual Lease, the #1 lease optimization software…
Company continues to prepare for its next phase of growth Woodbridge, NJ – January 6, 2022 — Visual Lease, the #1 lease optimization software provider, today announced that Guy Zerega,…
Chances are you’ve already tangled with the ASC 842/IFRS 16 changes in standards determining how organizations should be accounting for leases on the balance sheet. The effective date for implementing…
Private companies, the largest business demographic in the U.S., have to adopt the FASB’s new lease accounting standard starting this month, but many are still lagging in those efforts.
The ongoing impacts of Covid-19 are greatly changing leasing life cycles and accounting workflows. This pressure, coupled with the new lease accounting standards and looming compliance deadlines, is pushing financial…
What is lease capitalization? Lease capitalization is the act of recording Right-of-Use Assets and related lease obligations on a company’s balance sheet, as required for the lease accounting standard ASC…
Adopting new technology has become the reality of every business, especially in the modern remote work era. Companies that shifted to a work-from-home environment during the pandemic had to train…
New lease accounting standards coupled with the many pressures brought on by the pandemic have changed how organizations prioritize their leases. Companies are currently reevaluating their lease portfolios to ensure…
You’d be forgiven for gaining a case of whiplash moving from 2020 to 2021. Disaster—a seemingly closed economy, crashed supply chains, tight labor availability, and many millions out of work—turned…
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….
In a piece of good news for Manhattan’s battered office market, over 3M SF of office space was leased in November — the first time since before the coronavirus pandemic…
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…
Culture is more than a business buzzword. Discover how you can improve the personality of the company in this interview. Today’s guest is Marc Betesh, CEO and Founder at Visual…
Company sustains consistent double-digit growth over four years Woodbridge, NJ – November 18, 2021 — Visual Lease, the #1 lease optimization software provider, today announced that it ranked No. 264…
Company donates $25,000 to Habitat for Humanity International, The Affordable Housing Alliance and New Jersey Veterans Home at Menlo Park Woodbridge, NJ – November 17, 2021 — Visual Lease,…
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…
The 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…
Green shoots are beginning to emerge for the office market, with many tenants starting to consider long-term leases — though most firms plan to revise workplace arrangements when the pandemic…
More than double the share of commercial real estate tenants are planning to increase rather than decrease their space next year, according to a survey by the Visual Lease Data…
With the lease accounting standard set to take effect for private companies in mid-December, the Financial Accounting Standards Board will be considering a proposal at a meeting Wednesday to postpone…
Since the onset of the Covid-19 pandemic, businesses have evolved their real estate strategies to comply with the many changes that the pandemic forced upon them. To maintain lease accounting…
Majority of surveyed tenants plan to expand their commercial real estate footprint in the New Year Woodbridge, NJ (Nov. 9, 2021) Visual Lease, the #1 lease optimization software provider, today unveiled a survey of 400 senior accounting and finance…
The majority of private companies have yet to implement the new lease accounting standard entirely, even though the effective date is fast approaching. Three-quarters (75%) of privately held companies surveyed this spring…
Leasing a commercial property is a huge step for a business. The right space in the right location can attract ideal customers and take an entrepreneur’s business to the next…
Company continues to strengthen its senior leadership team Woodbridge, NJ – October 26, 2021 — Visual Lease, the #1 lease optimization software provider, today announced that Erinn Tarpey, current Senior…
Partnership will empower organizations to accelerate their ability to comply with new lease accounting standards and maximize the value of their commercial real estate assets Woodbridge, NJ – October 13, 2021 — Visual Lease, the #1 lease optimization software provider, today announced a partnership…
Company now helps more than 800 organizations manage upwards of 500,000 leases Woodbridge, NJ – October 11, 2021 — Visual Lease, the #1 lease optimization software provider, today announced results…
Solution provider to host a series of virtual events, gathering industry experts to share unique insights and opportunities around lease accounting Woodbridge, NJ – Sept. 27, 2021 — Visual Lease,…
Are you truly getting the most value out of your financial technology? We recently surveyed 500 senior and accounting finance professionals and found that 53% of respondents use three to…
Under the FASB ASC 842 standard for lease accounting, organizations face significant changes including both new disclosures and specific requirements for how to report those disclosures. For instance, in the…
Public companies have significantly changed their financial processes in the past year and are not done yet, according to data released last month by Deloitte.
Woodbridge, NJ – August 30, 2021 — Visual Lease, the #1 lease optimization software provider, has been named the winner of a Gold Stevie® Award in the Employer of the…
Last year, the Governmental Accounting Standards Board (GASB) voted to defer the effective date of lease accounting standard GASB 87 to give public sector entities more time to adapt to…
Private companies are facing a deadline on implementing the new lease accounting standard, but recent updates in the rules could make an impact on their financial statements and disclosures.
The financial world has a never-ending list of new standards and practices to adhere to, many of which intersect with the world of corporate real estate.
Organization recognized as one of the fastest-growing private companies in America for the second consecutive year Woodbridge, NJ – August 17, 2021 — Visual Lease, the #1 lease optimization software…
Visual Lease, the #1 lease optimization software provider, today unveiled the results of an in-depth study of 500 senior finance and accounting professionals analyzing where companies are in their efforts…
Visual Lease unveiled the results of an in-depth study of 500 senior finance and accounting professionals analyzing where companies are in their efforts toward achieving compliance with ASC 842. The report…
Package provides robust tech capabilities and all-inclusive implementation and support required to achieve lease accounting compliance with ASC 842 Woodbridge, NJ – August 10, 2021 — Visual Lease, the #1 lease…
While 100% of surveyed companies agree on the business value of complying with the lease accounting standard, most are underconfident and unprepared for the looming deadline Woodbridge, NJ (July 29,…
Company reports key strategic investments and double-digit annual recurring revenue growth year-over-year Woodbridge, NJ – July 20, 2021 — Visual Lease, provider of the #1 lease optimization software, today announced results from…
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,...
Read MoreIn a 2020 IDC survey, 42% of technology decision makers reported that their organizations planned to invest in technology to close the digital transformation gap. We expect that number has…
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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There is power within your lease portfolio. Over the last year, public and private businesses have taken a closer look at their leases – and experienced the downstream benefits of…
Last year, the Financial Accounting Standards Board (FASB) provided private companies with an extra year to adopt lease accounting standard ASC 842. When this was announced, 63.8% of surveyed private company executives…
Real estate leases can serve as key strategic assets for companies, presenting opportunities to improve the execution of a business strategy while also creating operational efficiencies. But leases also present…
This article originally appeared here in Forbes. As a result of Covid-19 and the changing landscape related to leases, private companies have received more time to prepare for and adopt…
The Governmental Accounting Standards Board released updated implementation guidance for its leases standard, which is going into effect soon, along with other accounting standards for state and local governments.
This article originally appeared here in Forbes. In 2020, many companies were forced to make tough decisions regarding their leased commercial spaces. From office closures to consolidations and deferrals, many…
In response to the ongoing effects of Covid-19, businesses across all industries have had to adjust not only their strategies and goals but also their workflow and styles to remain…
For companies that are reporting on a calendar year and have completed their audit, CFOs have recently received or will shortly receive a management letter from their auditors. The management…
Lease accounting (ASC 842, IFRS 16 or GASB 87) is not your average one-and-done disclosure. This whole new approach to accounting requires you to account for lease changes throughout the year with a higher level of scrutiny. A…
It’s been just over a year since the U.S. experienced a series of lockdowns in response to the Covid-19 pandemic. Lessees and lessors have had to quickly adjust their strategies to…
Landlords and tenants are struggling to reconcile 2020 building operating expenses and service charges in an atmosphere of highly irregular occupancy and operational adjustments.
With the ASC 842 deadline for private companies looming, there are several things private organizations can do to set themselves up for success.
Real estate, as an industry, has been more accepting of technology’s benefits to the trade in recent years. A growing number of real estate companies and professionals have embraced tech…
Commercial real estate overhead has never faced more scrutiny. While today’s highly agile workforce brings with it a newfound level of productivity, there are various impacts and considerations felt across…
These are the considerations that financial professionals should keep in mind to ensure they are prepared for changes that may emerge due to COVID-19.
What is Deferred Rent Under ASC 842? In lease accounting, deferred rent happens when the cash rental payment varies from its expense recognized on the financial statements and occurs when the tenant is provided free rent in one...
Read MoreTo survive and thrive in today’s new norm, these same companies now need to evaluate how these decisions will continue to affect the leasing landscape, and what that means for…
Article: Uncover an unlikely profit center: transforming lease compliance into savings opportunities
This past year, organizations across the globe have faced unprecedented challenges as they navigate new business models and virtual work environments. For many, it’s been a race against the clock…
Another day, another breathless survey repeating what we’ve been hearing for the last year: work-from-home is more than just a passing trend, and it just may be here to stay….
Commercial office leases were on the chopping block last year as companies grappled with the impacts of COVID. Of the companies surveyed in a new Visual Lease report, 50% received…
How has COVID-19 impacted the road to compliance and the accounting industry? Visual Lease’s Joe Fitzgerald discusses why FASB has proposed new changes to its lease guidelines and what it…
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…
Visual Lease launches the integrations hub, providing powerful, flexible & open access to lease data
Lease portfolios often account for a massive portion of a company’s risk exposure and overhead. And yet, most businesses lack visibility into their leases to understand their obligations and options – and…
As the accounting profession navigates the challenges brought on by COVID-19, FASB shifted the deadline to grant private companies more breathing room to achieve compliance with its major lease accounting…
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…
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…
Hundreds of private organizations have begun their journey towards lease accounting compliance. Although, many of them underestimate the amount of effort involved with preparation. In particular, assembling a team…
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.
Buying technology for cross-functional teams can be notoriously nightmarish, especially as you dive in and realize you need to expand your scope, shorten your timelines, or overhaul your processes along…
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…
Since the start of the Covid-19 outbreak, commercial tenants have fallen behind on rent payments as cities across the U.S. have been on full or partial lockdown for months on…
