ASC 842 Lease Accounting
Software Selection Guide
Whether you are looking to replace an underperforming system or move away from manual workbooks, this guide helps you evaluate your lease accounting software options.
Now that the initial transition to ASC 842 has passed, the focus for accounting and finance teams has shifted from getting compliant to staying compliant efficiently. Many organizations have found their initial compliance solutions – spreadsheets, ERP modules, or software – are not sustainable long term to handle modifications, terminations, and the high-stakes demands of a full audit. This guide helps organizations looking for a new solution ensure that the next one works for the long haul.
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What You’ll Learn:
- The New Reality: Understand why ongoing compliance is shaking up finance, including balance sheet inflation and the P&L complexity of preserving a straight-line operating lease expense.
- ASC 842 Systems Audit: Audit your current accounting environment to determine if your setup is up to the job across accuracy, audit assurance, close speed, and version control.
- Compliance Path Evaluation Matrix: Compare spreadsheets, ERP lease modules, and LeaseQuery (by FinQuery) objectively across critical metrics like long-term sustainability, audit defense, and handling complex variations.
- The Business Case for Specialized Tech: Discover why dedicated platforms eliminate operational friction by providing an accountant-first UI, AI-powered data integrity, and true GL integration without the IT overhead.
- Software Evaluation Checklist: Access eight diagnostic questions to stress-test potential vendors on technical needs such as catch-up entry automation, immutable audit trails, and dual-jurisdiction reporting.
- Pain-Free Migration Strategies: Learn how you can switch systems without having to recreate years of historical data.
