The new lease accounting standards are creating an unexpected burden for many companies. Now, up to 100 data fields may need to be collected per lease. Plus, the new standards require lease data to be tracked at the asset level. Tracking lease data at this level, and then completing the accounting required by the new standards, will be difficult to accomplish using spreadsheets alone. Many companies will find that they need to implement lease accounting software in order to achieve compliance and stay in compliance with the new lease accounting standards.
We have compiled a list of lease accounting software vendors to help you find the right fit for your company.