What does simpLEASE Do?

  • Guides the user through user-friendly wizards, asking questions to assist with the appropriate treatment of each lease.
  • Generates amortization schedules for finance and operating leases, in accordance with Lease Accounting Standard Update 2016-02.
  • Interfaces with accounting systems to automate the process of posting requisite journal entries.
  • Interfaces with fixed asset software to automate the process of creating the right-of-use assets (ROU).
  • Includes services to assist with transitioning existing finance and operating leases to the new solution.
  • Helps efficiently manage and inventory finance and operating leases, both new and existing.
  • Automate the process of inputting the key terms of lease agreements.
  • Easily determine if your contract is a lease that needs to be capitalized.
  • Determine whether it is a finance (capital) lease versus an operating lease.
  • Calculate present and future values of the asset/liability, generating the necessary amortization schedules.
  • Generate standard reports, such as lease listing, amortization schedules, roll-forward of liability balance and future payment schedules for operating leases.
  • Manage ongoing lease details, such as changes to existing lease terms, lease terminations, etc.

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