About Leasecrunch
LeaseCrunch: The Easiest Lease Accounting Software on the Market
Lease accounting can be a complex and time-consuming process, especially with the new lease standard that has been introduced. CPA firms and clients alike are struggling to keep up with the changes, which is why LeaseCrunch was created. This innovative software is designed to simplify lease accounting and make it easier for everyone involved.
What is LeaseCrunch?
LeaseCrunch is a cloud-based software solution that simplifies lease accounting for CPA firms and their clients. It was developed by CPAs who understand the challenges of lease accounting, particularly with the new standard that requires companies to recognize all leases on their balance sheets.
The software automates many of the tasks associated with lease accounting, such as data entry, calculations, journal entries, and financial statement disclosures. It also provides real-time reporting and analytics so that users can monitor their leases in one place.
Why Choose LeaseCrunch?
There are several reasons why CPA firms should choose LeaseCrunch over other lease accounting solutions:
1. Ease of Use: LeaseCrunch is incredibly easy to use thanks to its intuitive interface and step-by-step guidance. Users don't need any prior experience or training in order to get started.
2. Time-Saving: With automated data entry and calculations, users can save hours of time each month compared to manual methods.
3. Accuracy: The software ensures accuracy by performing all necessary calculations according to GAAP standards.
4. Compliance: By using LeaseCrunch, CPA firms can ensure compliance with ASC 842/IFRS 16 standards without having to worry about errors or omissions.
5. Cost-Effective: Compared to other solutions on the market, LeaseCrunch offers competitive pricing without sacrificing quality or functionality.
How Does it Work?
Using LeaseCrunch is simple:
1. Import your leases into the system using Excel templates or API integration.
2. Verify your data using built-in validation rules.
3. Calculate your right-of-use assets (ROU), liabilities (LOU), interest expense (IE), amortization expense (AE), deferred rent (DR) balances automatically.
4.Generate journal entries for ROU assets/liabilities & Interest/Amortization expenses
5.Create financial statement disclosures including footnote disclosures
Once you have completed these steps you will have accurate financial statements ready for review!
Who Can Benefit from Using Lease Crunch?
Lease Crunch was designed specifically for CPA firms who want an easy-to-use solution for managing their clients' leases under ASC 842/IFRS 16 standards but anyone who needs help managing their leases could benefit from this powerful tool!
Whether you're a small business owner looking for an affordable way to manage your company's leases or a large corporation seeking a comprehensive solution that integrates seamlessly into your existing systems - there's no better choice than leasing crunch!
Conclusion
In conclusion, if you're looking for an easy-to-use yet powerful solution for managing your company's leases under ASC 842/IFRS 16 standards then look no further than leasing crunch! With its intuitive interface automated data entry/calculations & real-time reporting capabilities - this innovative cloud-based software makes it easier than ever before manage even complex portfolios while ensuring compliance every step along way! So why wait? Sign up today start enjoying benefits tomorrow!
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