LEASE-Lease Accounting Software
A strategic approach to leasing can reduce expenses and save your business money. LEASE is a tool for tracking all important information related to leases from the lessee's point of view for both capital and operating leases.
Supported Technologies
OS/400
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Pricing
Server
3500 to 8500
info@gbasys.com
800-422-3267
Additional Product Information
The Lease Accounting Management System – LEASE tracks all important information related to leases. Any type of property (real property, machinery and equipment, automobile fleets, etc.) may be tracked. Both capital and operating leases are accommodated.
•FASB13 compliance testing is automatically done by the system. Capitalized amount is calculated for capital leases.
•Number of payments, payment amount and whether executory costs are included are all user-defined.
•Varying payment schedules for a lease are easily accommodated by the system.
•Numerous categories of executory costs (insurance, maintenance, taxes and other) can be maintained for each lease. One-time executory costs are also accommodated.
•General ledger accounts may be tracked for each capital lease (property, interest expense, current, non-current obligations).
Features
Audit Trail
•An optional audit trail of all changes to the lease agreement file may be maintained.
•Before and after images are retained by user profile and workstation ID.
Inquiry
•Inquiry is available by ten unique selection criteria: Lease Number, Lessor, Review Date, Description, Inception Date, All five user-defined Control Levels.
General Ledger Interface
•General Ledger Interface is available. Book the appropriate entries for asset cost, current and non-current obligation, interest expense, and executory cost expense.
•Operating lease payments can be accommodated through the interface.
Fixed Asset Interface
•Whenever a lease is determined to be capital, the lease number, capitalized amount, in-service date and useful life are written to a temporary allocation file to be transferred to the GBA Fixed Assets Management System.
•Numerous fields are automatically transferred from LEASE to FAMS (company, division, control levels, description, etc.).
•One lease may represent a single asset or multiple assets.
Report Highlights
•Detail Lease Listing
•Detail Amortization Schedule
•Lease Payment Report
•Lease Disclosure Report
•Report Writer