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Lx Contracts: Lease Accounting Software for Full Compliance

Maintain compliance with financial reporting standards. Accruent Lucernex lease software helps organizations manage complex real estate and equipment lease scenarios.

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Maintain FASB/IASB Compliance

Easily maintain compliance with ASC 842, IFRS 16, and GASB 87 using Lucernex's verified solution

Simplify Lease Management

Gain visibility into your entire lease porfolio to easily identify underperforming assets, stay on top of expirations, and make informed decisions

Improve Forecasting Capabilities

Use reporting analytics to forecast, budget, and allocate funds effectively

Integrate With Other Crucial Systems

Connect Lucernex to your ERP, BI tools, CMMS, or FM systems for centralized insights

What makes Lx Contracts stand out?

Ensure team efficiency through workflows, processes and approvals.

Audit logs

Lucernex provides audit logs that assist organizations leveraging the solution to achieve SOX compliance. It is also SOC 1 and SOC 2 compliant.

Audit-ready monthly close

Features like automated reporting, cause of change reports, and comprehensive data integrations simplify the monthly close process.

Reporting capabilities

Lx Contracts’ comprehensive and configurable reporting and analytics can help you effectively improve cost analysis, set KPIs and boost operations.

Centralized data

Lx Contracts ensures your company’s data is accurate so you can easily calculate obligations while gaining a broader understanding of your real estate capabilities.

Alerts and notifications

Create alerts to remember important dates – such as when it’s time to renew a lease – or let employees know if a document is ready for review.

Configurable Integrations

Accruent continuously enhances Lx Suite based on feedback and market trends. This means Lx Contracts will offer the functionality you need down the line.

Lease management communication tools

Our contract lease system contains tools that can help you streamline processes and proactively resolve errors before they become significant concerns.

Role-based access controls

With Lx Contracts lease accounting software, you can set permissions and approvals based on employee role or other criteria.

Comprehensive ongoing support

The Accruent global support team offers free superclass training, a proven certification training curriculum and a strong user network.

Frequently Asked Questions (FAQs)

Why do I need lease accounting software?

Lease accounting software helps streamline the entire real estate and equipment lease process. It ensures you stay compliant with complex regulations like ASC 842, IFRS 16, and GASB 87.  

Accruent’s Lx Contracts simplifies lease portfolio management and improves forecasting accuracy. It also integrates with essential systems, offering analytics and tools for more effective lease administration and strategic planning.

What lease accounting standards are supported by this software?

Compliance standards are maintained with IFRS 16, ASC 842, and GASB 87. These three standards have been effective since 2019, with the common goal of improving transparency and providing better accuracy of a company’s financial position and performance level.

Accruent’s lease accounting software helps organizations implement these standards and maintain adherence.

How much does lease accounting software cost?

The cost of lease accounting software can vary widely, often based on factors such as the scale of your lease portfolio, the complexity of your needs, and the specific features you require. Many providers offer tiered pricing models to accommodate businesses of varied sizes and budgets

Contact Accruent to find an option that works best for you.

What should I look for in leasing software?

Leasing software should streamline your existing business objectives. This is why it is important to assess your requirements and determine whether the software can meet those needs.

Does your leasing software integrate with existing systems? Integration capabilities can play a pivotal role in determining a platform’s viability for your organization.

Finally, is the software designed to support business expansion? Accruent’s Lucernex lease software helps businesses scale faster by reducing errors and improving the efficiency of processes.

 

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