Overview

Lease Accounting is an integrated solution for your lease accounting requirements as a lessee.

Lessor tasks are not currently addressed in this solution. Lease Accounting is a single point of entry from which you can perform these tasks:

Specify and maintain your leases.
Specify and maintain any assets that are associated with the leases in Asset Accounting.
Create and approve lease payment invoices and interface them to Payables for invoice processing.
Automatically create journal entries in Global Ledger.
Review the status of leases and invoices through invoice inquiry forms and the Drill Around® capability.
Automatically generates Lease Amortization schedules.

You can automate the lease classification specification by running a classification test. You can keep an audit trail of any changes that are created to leases and invoices. You can also generate a disclosure report based on ASC 842 and GASB 87 requirements.