Name: LeaseCrunch
Author: LeaseCrunch

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### Lease Accounting Standards
Users are particularly impressed with LeaseCrunch's lease accounting standards capabilities, noting its simplicity, affordability, and user-friendly interface for adopting ASC 842. The software streamlines the process of inputting lease data and guides users through the necessary steps to ensure accurate categorization and calculation of adjusting entries. Additionally, the availability of technical support from accountants and CPAs on staff adds to the overall positive user experience.

### Journal Entries and Reporting
Users appreciate LeaseCrunch for streamlining the monthly journal entry process and providing detailed financial statement footnote disclosures. The software's ability to generate accurate journal entries and reports efficiently has been a significant time-saver for many users. However, some reviewers have pointed out specific areas where LeaseCrunch could enhance its functionality, such as the need for additional features like FX journal entries and improved customization options for quarterly reporting. Despite these suggestions for improvement, the overall consensus is that LeaseCrunch's journal entries and reporting features offer valuable support for lease accounting tasks.

### Financial Disclosures and Statements
Users appreciate LeaseCrunch's financial disclosures and statements functionality for its ease of use, detailed reports, and efficient automation of footnote disclosures. However, some users find limitations in tailoring disclosures for quarterly reporting and the absence of monthly Trial Balance reports. Despite these concerns, the overall sentiment leans towards positive, with users acknowledging the software's effectiveness in streamlining lease accounting calculations and facilitating efficient financial reporting processes.

### Implementation and Adoption
Users appreciate LeaseCrunch's user-friendly approach to implementation, finding it efficient and effective. The software's ability to guide users through the complexities of ASC 842 implementation has been highlighted positively. Additionally, the quick implementation time and availability of technical support have been noted as valuable aspects of LeaseCrunch's adoption process.

### Software Integration and Efficiency
Users appreciate LeaseCrunch's user-friendly interface that simplifies the process of inputting lease data without requiring in-depth knowledge of ASC 842. The software's ability to guide users through lease terms input and categorization, as well as its provision of adjusting entries, streamlines the integration process. Additionally, the quick implementation time and availability of technical support contribute to a positive user experience in terms of software integration and efficiency.

LeaseCrunch is a software solution that effectively addresses several business problems faced by users in the field of lease accounting. Users have found that LeaseCrunch simplifies the calculation of lease balances, making it easier for lower-level staff to handle. This streamlines the lease accounting process and eliminates the need for manual systems like Excel, saving time and reducing errors.

One major challenge that users face is implementing the complicated new accounting standard, ASC 842. LeaseCrunch has proven to be an efficient and effective solution for this task, generating computations and providing users with a user-friendly platform to manage lease accounting. This not only ensures compliance with ASC 842 but also significantly reduces the time needed to manage leases, benefiting users with limited experience in this area.

Another key business problem solved by LeaseCrunch is the time-consuming nature of tracking leases. Users have found that LeaseCrunch makes this task much easier and less time-consuming, particularly when managing a fleet of leased vehicles. Additionally, LeaseCrunch assists in determining journal entries, amortization tables, and footnote calculations for operating and finance leases, eliminating the need for manual calculations and reducing errors.

Overall, LeaseCrunch offers a time-efficient and user-friendly solution to streamline lease accounting processes and comply with ASC 842. By simplifying lease calculations, automating journal entries, and providing easy-to-use reporting features, LeaseCrunch enables users to focus on other areas of their work while ensuring accuracy and efficiency in lease management. While some users suggest that the software could benefit from more updates to enhance its value compared to well-designed Excel spreadsheets, it remains a reliable tool for addressing various lease accounting challenges.

User-Friendly Interface: Users have consistently praised LeaseCrunch for its user-friendly interface, with many stating that it is intuitive and easy to navigate. The simplicity of the software allows users to quickly understand and follow the system, making it effortless to use for lease accounting tasks.

Helpful Customer Support: Numerous reviewers have expressed their appreciation for the excellent customer support provided by LeaseCrunch. Users found the availability of LeaseCrunch staff, especially during initial engagement, to be highly valuable. They described the team at LeaseCrunch as fantastic to work with, highlighting their guidance and assistance throughout the process.

Simplifies ASC 842 Implementation: Many users have commended LeaseCrunch for simplifying the implementation of ASC 842, a new lease standard. They noted that working with LeaseCrunch made the transition smoother than anticipated due to the software's ease of use and reliability. Users appreciated how LeaseCrunch guided them through each step of the process while providing helpful information about inputs, disclosures, and functionality.

Inaccurate Journal Entry Frequency: Some users have expressed frustration with LeaseCrunch's journal entry functionality, noting that it only provides monthly figures and lacks the option for annual figures. This limitation has caused some reviewers to feel inconvenienced by the need to perform an additional step in financial reporting.

Limited Customization Options for Reports: Several users have voiced their desire for more customization options when generating reports from LeaseCrunch. These reviewers have found the current level of customization to be lacking, which has hindered their ability to tailor reports according to their specific needs.

Challenges with Transitioning from Demo to Live Environment: A number of users have encountered difficulties when moving from the demo environment to the live environment of LeaseCrunch. Specifically, they have mentioned issues with the clunky bulk import feature, making this transition less seamless than desired.

LeaseCrunch is lease accounting software from the company of the same name headquartered in Milwaukee, and is a cloud-based solution. LeaseCrunch helps organizations implement the new lease accounting standards, ASC 842, GASB 87, GASB 96, and IFRS 16.

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