Lease Ledger

Lease Ledger, developed by Lease Ledger Inc, is an automated sub ledger and reporting tool designed to simplify lease accounting. According to the vendor, the software is suitable for companies of all sizes, from small businesses to large enterprises. Professionals in the fields of accounting, financial management, lease administration, real estate, and retail can benefit from using Lease Ledger to streamline their lease accounting processes.

Key Features

Lease Amortization Schedules: According to the vendor, Lease Ledger automatically generates detailed lease amortization schedules based on uploaded lease data from Excel. These schedules provide a breakdown of lease payments, interest expense, and principal reduction over time.

ROU Asset & Lease Liability Sub Ledgers: The software creates sub ledgers for both the Right-of-Use (ROU) assets and lease liabilities, allowing users to track balances and changes over time for reconciliation and validation purposes.

Journal Entry and Support: Lease Ledger generates accurate journal entries with debits and credits based on lease data and accounting rules. According to the vendor, users can review, export to Excel, or directly book these journal entries in the general ledger.

Roll Forward Reports: Users can access roll forward reports that display changes in lease balances from one period to another, including additions, modifications, impairments, and terminations. According to the vendor, these reports aid in forecasting and historical tracking.

Forecasts using Roll Forwards into future periods: By utilizing the roll forward reports, Lease Ledger enables users to forecast lease balances into future periods, facilitating financial planning and decision-making related to leases.

Disclosures: The software automates the preparation of various lease disclosure reports required by accounting standards, such as five-year lease maturities, contractual obligations tables, weighted average term and discount rates, and range of maturities.

Lease Modifications and Impairments: Users can record lease modifications and impairments, and Lease Ledger accurately reflects these changes in the lease amortization schedule, helping manage the accounting complexities associated with such adjustments.

Import Leases from Excel: Lease Ledger offers a quick and easy way to import lease data directly from an Excel template. According to the vendor, the software automatically scans for inconsistencies and highlights them for review.

Export Journal Entries to Excel: Users can export journal entries and their supporting details to Excel, providing flexibility in analyzing and manipulating the data for reporting or integration with other systems.

Disclosure Reports Made Easy: Lease Ledger automates the preparation of lease disclosure reports, allowing users to easily view or export supporting details. According to the vendor, this streamlines the disclosure process and saves time on manual preparation.