Leasing obligations for real estate and equipment can range from a few million dollars to tens of billions of dollars for each company. It’s critical to the success of your business that leases are accounted for and managed properly.
Lease administration and accounting can feel like a revolving door of paperwork, inaccuracies and evolving standards that require compliance.
All these factors can have a huge, lasting impact on your company’s financials. It’s mission-critical to utilize a lease administration and accounting solution that supports compliance, mitigates risk and provides transparency into your entire lease portfolio for better decision making.
With the new FASB/IASB standards, compliance is becoming much more difficult and is demanding a high level of internal effort for companies seeking compliance. The new standard will require organizations that lease assets to recognize those assets and liabilities of both operating and finance leases with lease terms of more than 12 months on the balance sheet.
The new standards were introduced to provide transparency in helping investors and other financial statement users understand the amount, timing, and uncertainty of cash flows arising from leases, allowing them to better judge a company’s performance. This update to the standard can be an overwhelming challenge for companies seeking compliance.
Designed to meet the needs of both real estate and equipment leases, Lucernex Lease Administration and Accounting is a third-party verified FASB/IASB compliant solution, allowing you to mitigate risk, improve business processes and make decisions that impact the overall health of your business.
In addition, a proven step-by-step implementation process helps to quickly achieve a successful implementation without disrupting your business, ensuring on-time compliance.
The Lucernex Lease Administration and Accounting solution empowers you to achieve compliance, meet your growth strategy, manage capital and provide transparency for better decision making.
Lucernex Lease Administration and Accounting is designed to help manage the most complex real estate and equipment lease scenarios, mitigate risk, achieve compliance and seamlessly integrate into your ERP.