Spacebase

Spacebase is a lease accounting and lease management solution designed to streamline lease processes for real estate, workplace, accounting, finance, legal, and operations teams. According to the vendor, the software is user-friendly and customizable, making it easy to implement and integrate with existing accounting and AP applications. Spacebase is aimed at businesses of all sizes and provides modern lease accounting features based on the ASC 842 standard.

Key Features

Modern Lease Accounting: According to the vendor, Spacebase offers lease accounting capabilities that are built around how teams work. The software is customizable and user-friendly, aiming to facilitate implementation and usage. It is also based on the ASC 842 standard.

Lease Classification: According to the vendor, Spacebase allows users to classify leases as operating, finance, or short-term leases. The software provides a guided checklist for lease classification, aiming to ensure accuracy and compliance.

Journal Entries and Reports: Spacebase enables users to export journal entries, amortization schedules, and disclosure requirements. The software also offers tracking and reporting of lease data that is unique to each business, aiming to provide valuable insights.

Lease Measurement: According to the vendor, Spacebase enables users to measure the initial and current ROU (Right of Use) asset and lease liability throughout the lease term. The software allows businesses to set a discount rate and track lease payments, incentives, and lease components.

Integrations: Spacebase offers integration with existing accounting and AP applications, including popular software like NetSuite, Workday, and Oracle, aiming to enhance efficiency and data accuracy.

Controls and Workflow: Spacebase provides a review and approval workflow for appropriate controls. According to the vendor, the software ensures data security through measures like SOC reports, third-party pen tests, and a robust security program.

Modern Lease Management: Spacebase is designed in collaboration with real estate and workplace teams to track and manage critical dates and option notice periods. The vendor states that email notifications help ensure important dates are not missed.

Manage Lease Expenses: Spacebase allows businesses to manage rent and variable expenses effectively. The software integrates with existing AP software and enables tracking of headcount and utilization, aiming to provide a comprehensive view of lease expenses.

Custom Reports and Exports: Spacebase provides the flexibility to build custom reports and exports, aiming to empower teams to access specific data for analysis and decision-making. Data can be easily exported as CSV files.

Headcount and Utilization: Spacebase enables businesses to track headcount and utilization, aiming to provide valuable insights for lease management. The software also offers integration with HCIM systems for enhanced data accuracy and efficiency.