With this new release, controllers have a more complete view of their leasing portfolios while reducing audit risk and time to close.
RESTON, Va. (PRWEB) November 17, 2020
LeaseAccelerator, the leader in the Lease Lifecycle Automation (LLA) software market, announced today several enhancements to its LLA platform that simplify and accelerate audit readiness. This upgrade provides corporate controllers with a more holistic view of their portfolio and greater insights about specific transactions, removing cost, risk, and time from closes and audits:
- Roll Forward Report (RFR): This essential close process report identifies changes between opening and closing balances with drill down capabilities to review change events in the period. Commencing with the opening balance for lease accounting related ledger accounts, the balances are rolled forward by type of activity for activity during the period. The RFR can be run for a specific currency or all currencies, a specific deal or all deals, in addition to entities, cost-centers, business units and lessees.
- Deal Analysis Report (DAR): This report re-performs accounting calculations for each lease, at the lease inception date or upon a later inflection date, in the native currency of the lease. Instead of manually recomputing lease accounting calculations, customers can use this report to prove out the software-generated calculations. The DAR makes audits easier by exposing embedded formulas and tying the recomputed amounts back to the core system-generated balances.
- Lease accounting improvements: Expanded support for balance adjustments, remeasurements and impairments, including a new Adjusting Entries Analysis Report that simplifies understanding of the out-of-period adjustments, required by any subledger with an authentic close.
“The objective of Lease Lifecycle Automation is to eliminate all manual tasks in the leasing process. This release is a major step in that journey,” said Michael Keeler, CEO at LeaseAccelerator. “We worked closely with multiple customer focus groups to ensure we designed and built exactly what our customers want.”
For more information on the LeaseAccelerator platform, please visit: https://explore.leaseaccelerator.com/products/leaseaccelerator/.
LeaseAccelerator provides global Lease Lifecycle Automation (LLA) software to improve free cash flow and simplify compliance. Thousands of users rely on our Software-as-a-Service (SaaS) platform to manage and automate 700,000 real estate and equipment leases valued at $200 billion across 5 million assets in 172 countries. The LeaseAccelerator automation platform includes asset-level accounting, reporting and governance; stakeholder performance management; and an integrated competitive leasing marketplace fueled by a global network of more than 500 lessors. Learn more at: http://www.leaseaccelerator.com/.