Lease Accounting

PowerPlan’s Lease Accounting solution helps organizations manage the complete lifecycle of leased assets while ensuring compliance with modern accounting standards. It centralizes lease data, automates calculations, manages amortization and interest schedules, and enhances visibility into financial impacts. This enables accurate reporting, reduced compliance risk, and more efficient asset and financial planning.

Features

• Centralized repository for all lease contracts and associated data
• Automated lease classification and accounting calculations
• Support for multiple standards such as ASC, IFRS, and GASB
• Automated amortization schedules and interest calculations
• Workflow tools for lease approvals, renewals, and modifications
• Integrated reporting for financial statements, disclosures, and audits

Capabilities

• Import, organize, and maintain complete lease portfolios across the organization
• Model financial impacts of new, renewed, or modified leases
• Track lifecycle events such as reassessments, terminations, and buyouts
• Generate compliant journal entries for integration with financial systems
• Maintain audit trails documenting every change and calculation

Benefits

• Improves compliance with evolving lease accounting regulations
• Enhances accuracy of financial reporting through automated, standardized calculations
• Reduces audit risk with complete documentation and transparent data flows
• Strengthens financial planning via clear visibility into lease costs and obligations
• Increases operational efficiency by minimizing manual data handling and errors