MRI Software Home | Lease Accounting Software Comprehensive lease accounting software for real estate and equipment A fully integrated solution for the new FASB ASC 842, IASB IFRS 16 and GASB 87 standards. GET THE BROCHURE REQUEST DEMO Guarantee accurate exchange of information between property and finance Collaborate effectively on all lease accounting data Manage equipment leases and stay compliant with FASB ASC 842/IASB IFRS 16/GASB 87 guidelines Enable compliance using lease accounting software to manage your real estate and equipment leases Our lease accounting software has always operated to enable compliance with core accounting and financial reporting regulations, including ASC 840 and the new FASB ASC 842, IASB IFRS 16 and GASB 87 standards. This means that by using our software, businesses can automate calculations that are otherwise time-consuming, prone to error and difficult to audit in a spreadsheet or separate software approach. Designed as an open information system, the calculated values can be interfaced through to corporate accounting systems to avoid manual journal creation. In addition, fields have been added that capture discount rates, assumed end dates of the lease (taking into account break clauses and extensions, plus comments to satisfy auditors as to why this date has been chosen), incentives, costs and dilapidations. Lease Accounting Software features Time saving calculations Automatic recalculations and associated balance sheet adjustments when leasing events require it, such as extensions and terminations. Equipment lease management Track and manage all types of assets, including office and IT equipment and vehicles, with visibility into critical data such as lease terms, depreciation schedules, and residual value guarantees. Comprehensive reporting New disclosure reports providing details of right-of-use assets, interest, amortization, cash flow and weighted terms. What if scenarios Scenario modelling of new leases to aid decision-making when considering the impact of new contracts on the balance sheet. Learn more about compliance with FASB ASC 842 LEARN MORE Advantages A single source for all current, newly signed and planned leases, including lease terms, financials and potential changes. Handle FASB and IASB calculations simultaneously. Get automatic notifications when critical information changes. Finance can also be notified when a new lease is under negotiation. Ensure data is captured at source, eliminating the need for multiple entries. Easily import revised lease abstracts to ensure the accuracy of information. Model scenarios for full and modified retrospective leases, and see what impact these have on the balance sheet. Address wider workplace needs, including space management, maintenance and facilities management. Easily generate lease capitalization and disclosure reports. Run lease classification tests. Management of landlord incentives, impairments and dilapidation provisions. API allows easy integration to corporate ERP for lease payment and receivables. Property & equipment leasing ASC 842, IFRS 16 & GASB 87 compliance for both property portfolio materiality and non-property assets. Lessor accounting ASC 842, IFRS 16 & GASB 87 compliance for lease receivables linked to a head-lease payable, whether the subtenant is a third party company or intercompany. Lease level accounting Audit trail for each lease of all balance sheet calculations, each displaying amortisation, opening/closing liability, interest, depreciation etc for each period in line with company-specific accounting calendar. Discount rate management Definition and management of discount rate strategy - lease by lease, implicit, asset class. Dual reporting Group Vs Entity Reporting, ASC 842 and IFRS 16 dual reporting for organizations requiring to declare the impact on the balance sheet of leases across multiple entities within a global group. Lease exemptions and classifications Automated classification of short term leases and small value lease exemptions, along with FASB operational and finance lease classifications. Accounting periods Compounding on a daily rate or monthly rate in line with a client’s accounting calendar i.e. standard calendar months, 13 weeks, retail and manufacturing accounting periods (4-4-5). Disclosure reports Lessee and lessor disclosure reports (ASC 842, IFRS 16 & GASB 87). Journal postings ASC 842, IFRS 16 and GASB 87 journal entries per period – standard reporting or ability to interface to ERP. Manage your leases with confidence Whether you want to stay up-to-date with current compliance standards, understand the costs associated with managing your workspace, or partner with a services team to outsource time-consuming lease administration tasks, MRI can assist you with lease administration, lease accounting, compliance, and abstraction. DOWNLOAD Resources Case Studies IFRS 16 in retail – transition enabled by purpose-built lease accounting software Read the Case Study On-Demand Webinar Lease Accounting for Private Companies – Preparing for a Successful Transition Watch the Webinar On-Demand Webinar MRI ProLease – leveraging your real estate solution for ongoing lease accounting requirements Watch the Webinar Ebook Lease Concessions Related to the Effects of the COVID-19 Pandemic: A Guide for... View the Ebook Key Facts 400+ OVER 400 LEASE ACCOUNTING SOFTWARE IMPLEMENTATIONS 100+ USED IN 100+ COUNTRIES 1000+ TRUSTED BY MORE THAN 1000 PROPERTY OCCUPIERS How we can help Lease Abstraction An AI-powered lease abstraction solution for property owners, operators, occupiers and investors. Extract data from leases and store it in a smart, centralised repository. Learn more Lease Management Manage complex leases and terms for commercial properties. Gain complete control, and generate the data-driven information you need to make optimal use of the real estate you occupy. Learn more Stay Updated News | January 27, 2021 MRI Software Acquires AMTdirect, a Provider of Lease and Facilities Management Solutions Read the Article Blog | September 9, 2021 A balancing act: how technology continues to help businesses keep IFRS 16 compliant Read the Post Blog | July 8, 2021 Key accounting factors to consider when making lease modifications Read the Post Blog | February 11, 2021 Lease administration: The key to uncovering hidden costs in your leases Read the Post LET'S CONNECT Fill in the form to learn more about our software solutions for workplace management, lease administration and lease accounting. REQUEST INFORMATION BOOK A DEMO First Name Last Name Company Job Title Email address Telephone Country Tell us about your requirements Terms of use By clicking submit, you agree to our terms and conditions and consent to being contacted by MRI Software about our products or services. You can opt-out at any time. Please see our privacy policy for more information about how MRI Software handles your personal information. SUBMIT Find out more If you would like to find out more about our Lease Accounting software, please fill in the form above. RELEVANT LINKSBlogGASB vs FASB: The key differences between new...ASC 842 software: Enabling compliance with new... PRODUCTS Financials Suite Commercial Suite Residential Suite Investment Suite Corporate Real Estate Facilities Management Reporting & Analytics SOLUTIONS Affordable Housing Condo HOA Office & Industrial Retail Construction & Development Public Housing Public REITs Private Equity Pension Funds Multifamily SERVICES myMRI Client Support COMPANY Contact Careers Job Openings RESOURCES Blog News Webinars Events MRI Training GLOBAL HEADQUARTERS 28925 Fountain Parkway Solon, OH 44139 United States Sales 1 800 321 8770 Facebook Twitter YouTube LinkedIn US: 1 800 321 8770CANADA: 1 800 321 8770UK: +44 (0)20 3861 7100SOUTH AFRICA: +27 21 686 3145 AUSTRALIA: +61 2 8915 5000SINGAPORE: +65 6622 5764 Privacy Policy (Americas, Asia, Australasia) Privacy Shield Policy Terms of Use Sitemap Cookies Don’t Sell My Personal Info © 2021 MRI Software LLC – All Rights Reserved. MRI Software LLC is a registered ISO of Wells Fargo Bank, N.A., Concord, CA.