Facilitate lease term modifications. Ensure accurate accounting treatment for modified leases, supporting compliance with accounting standards and accurate financial reporting.
Talk to an Expert LeaseQuery Lease Accounting is a software module that specializes in lease accounting. It is designed to assist businesses in managing and tracking their lease agreements, ensuring compliance with accounting standards such as ASC 842 and IFRS 16.
The module helps businesses determine whether a lease should be classified as an operating lease or a finance lease based on the criteria specified in accounting standards.
It enables businesses to recognize lease assets and lease liabilities on the balance sheet, ensuring accurate representation of lease obligations.
The module facilitates the calculation of lease liabilities, including the initial measurement of lease assets and liabilities, subsequent measurement, and re-measurement when necessary.
It assists businesses in preparing and generating lease-related financial disclosures, ensuring compliance with disclosure requirements.
The module allows users to record and track lease payments, ensuring accurate and timely payment management.
It provides various financial reports related to leases, including balance sheet impact, income statement impact, and cash flow impact, helping businesses analyze the financial impact of leases.
LeaseQuery Lease Accounting software streamlines lease accounting processes, reducing manual errors and saving time for businesses.
By ensuring compliance with accounting standards such as ASC 842 and IFRS 16, businesses can avoid penalties and maintain accurate financial records.
With lease recognition and measurement functionalities, businesses can accurately represent lease assets and liabilities on their balance sheets, providing a clear picture of their lease obligations.
The module's lease payments tracking feature allows businesses to record and track lease payments, ensuring timely and accurate payment management.
LeaseQuery Lease Accounting assists businesses in preparing and generating lease-related financial disclosures, ensuring compliance with disclosure requirements and providing transparency to stakeholders.
By providing various financial reports related to leases, the software module helps businesses analyze the financial impact of leases, enabling informed decision-making and strategic planning.