About Lease Accounting

Sage Intacct Lease Accounting enables a seamless transition to the ASC 842 and IFRS 16 lease accounting standards. Lease Accounting streamlines and automates processes to ensure compliance, improve accuracy, and achieve better insight into lease obligations.

What is Lease Accounting?

Lease Accounting is an application that allows lessees to manage their financial and operating leases to comply with the latest US GAAP or IFRS standards.

The latest accounting standards require businesses to raise opposing lease liabilities and right-of-use assets on their balance sheets. Liability unwinding and asset amortization requires complex computations and careful change management over time. This easily becomes cumbersome when maintained in spreadsheets.

How it works

Sage Intacct Lease Accounting simplifies the lease accounting process by allowing users to capture the lease master data, after which daily payment, lease liability and right-of-use asset depreciation schedules are generated based on the selected accounting treatment for each lease. These schedules automatically generate the initial measurement entries and subsequent periodic entries in the General Ledger.

Over time, modifications and remeasurements are managed through a change lease process that keeps the calculated schedules updated to reflect any required changes.

How to subscribe

Lease Accounting is an additional subscription. To subscribe, contact your Sage Intacct account manager.

Learn more

To learn more about Lease Accounting, go to the Lease Accounting Help Center.