Equipment Leasing

equipment lease management software solutions

Equipment Lease Management in the Age of FASB, IASB & SOX

The world is about to change for organizations that lease a lot of equipment and they need to start preparing now for the impact the leases will likely have on their financial statements.  Equipment leases have long lived in the shadows of the organization’s financial obligations but the recent changes made by the Financial Accounting Standards Board (FASB) board and the International Accounting Standard Board (IASB) will soon bring them into the light. 

The more equipment leases you have and the more you pay for them the more significant the impact will likely be to your balance sheet, your debt ratios and your ability to borrow money.

It is important for your organization to start preparing for the impending equipment lease accounting changes now.  Your first move is to get an equipment lease management system that acts as a single source of the truth.  

Did you know?

Equipment Leasing is included in the Lucernex Enterprise collection.

Key Capabilities

  • Track all relevant clauses from your equipment leases during their full lifecycle
  • Proactively manage your leases, key dates, lessor obligations and lessee obligations
  • Calculate and make complex equipment lease payments to multiple lessors based on the terms of the individual leases
  • Track and communicate any required insurance requirements for your equipment leases
  • Use our FASB Type A or Type B test to determine the financial treatment of your equipment leases
  • Manage end of term or end of life processes to ensure the lowest possible cost for your organization at the end of the lease
  • Comply with SOX regulations by employing our field level auditing functionality
  • Use our document management capability to manage all documents related to your equipment leases electronically
  • Leverage our reporting engine to make better decisions by looking at key information across your entire equipment lease portfolio

gantt chart software

All of our modules are a part of our fully integrated cloud based solution. In addition to being a single source of the truth for all your real estate information, it includes the following key capabilities:

  • Document management
  • Schedule management
  • Budget management
  • Document binders
  • Configurable dashboards
  • Report builder
  • Workflow builder
  • Environment personalization
  • Full internationalization
  • Security & authentication management
  • Mobile access on smartphones & tablets

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