Lucernex Lease Administration & Accounting
Lease Administration & Accounting Software for Real Estate & Equipment Leases
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.
ADDED VALUE AND EASE
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.
- FASB/IASB compliance.
Meet the new accounting standards with ease using our 842 lease test, verified calculations and straight-line reporting functionality.
- Optimized workflow.
Create workflows with automated notifications customized to work the way you do business, for ease in approvals and checkpoints to manage your business efficiently.
- Capital allocation.
Use “what-if” scenarios to determine the best lease scenario for your business. Calculate “lease vs. buy” scenarios, terms and conditions and other scenarios to determine the best way to allocate capital and grow your business.
KEEP TRACK OF THE DETAILS
- Customizable reporting.
Negotiate favorable terms and options using available data through configurable reports and page views to determine the best strategy for making improvements and optimizing the portfolio.
- Asset-level accounting.
Track and manage thousands of key assets, handle location changes and multiple sub-contracts within one master contract.
- Lease management.
Track the needed details of all leases and contracts, allowing you to handle top-level concerns, such as the management of critical dates, key asset details, master leases, financial obligations and insurance requirements. Lucernex Lease Administration and Accounting also calculates your rent and expense obligations so you never overpay a landlord.
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.
IN ADDITION, WITH LUCERNEX LEASE ADMINISTRATION AND ACCOUNTING, YOU CAN:
- Support your business on a global scale with our multilingual and multi-currency features.
- Gain visibility into your entire real estate and equipment lease portfolio.
- Mitigate risk through automation, processes and workflows.
- Configure the solution with unlimited user-defined fields without the need for IT support.
- Easily integrate into ERP solutions.
- Implement quickly and with ease, using our proven implementation process.
- Receive ongoing support and training for onboarding and solution adoption.