Leasing is a complex business that requires high-quality financial planning and management to ensure business growth and development. Due to its complicated transactions and processes, you will need a solution that assists your calculations and evaluations effectively and efficiently. Meet lease accounting software, a tool to solve your problems. Continue reading below for more.
12+ Lease Accounting Software
8. Sage Intacct
11. Lease Harbor
12. TURBO – Lease
13. MRI Prolease
What is Lease Accounting Software?
Lease accounting software is a technological tool with a complete package of advanced features to boost your accounting operations. Leasing businesses process multiple critical activities which manual processes can’t handle. Lease accounting software allows you to obtain accurate data analytics regarding the finances and payments of your company. With this tool, you need not worry about overlooks and miscalculations as this technology ensures quality accounting and management.
Lease accounting software provides multiple benefits and advantages to your company, unlike manual processes that give unstable and doubtful data and results. You can increase communication, save time, and reduce expenses with leasing accounting software. On top of that, you can be independent of papers prone to misplacements and grueling to organize.
Various technology firms that developed lease accounting software offer distinct and standard features you might find innovative. Leasing revolves around critical financial and compliance factors. That is why it is crucial to research the software’s capabilities and functions to determine whether it is the software that seals the gap of your management. Several comparison websites with software’s pros and cons contents are available online. You can also try free trials and versions to monitor them firsthand. The following are features you might find contributive:
- Amortization Schedule
- Asset Lifecycle Management
- Billing & Invoicing
- Business Dashboard
- Portfolio Management
- Property Management
- Payment Tracking
Top 10 Lease Accounting Software
CCH Tagetik from Wolters Kluwer includes asset lifecycle management, cash management, data visualization, financial reporting, and more helpful features. Wolters Kluwer has annual revenue of $2.1 billion and 18,879 employees.
Crowe is a public accounting, consulting, and technology firm that creates value for clients by combining deep industry and specialized knowledge with cutting-edge technology while maintaining honesty and objectivity. Crowe has annual revenues of $1.3 billion and 8222 employees.
3. Sage Intacct
Sage Intacct includes accounts receivable, receipt management, sales tax management, online payments, and more advanced features. Sage Intacct has annual revenue of $104.1 million and 718 employees.
LeaseAccelerator includes asset management, project accounting, contact management, payment tracking, and more valuable features. LeaseAccelerator has annual revenue of $28.4 million and 159 employees.
LeaseQuery includes accounting integration, amortization schedule, audit management, client portal, and more advanced features. LeaseQuery has annual revenue of $28.3 million and 289 employees.
AMTdirect includes equipment management, fixed asset management, inventory control, work order management, and more valuable features. AMTdirect has annual revenue of $15.9 million and 25 employees.
7. Visual Lease
Visual Lease includes ad hoc reporting, compliance management, portfolio management, task management, and more innovative features. Visual Lease has annual revenue of $12.8 million and 154 employees.
Deloitte Consulting is one of the major consulting firms in Process/BPR, People/HR, Technology (IT, CRM (customer relationship management), ERP (enterprise resource planning), Strategy, and Outsourcing/BPO/ASP. Deloitte has annual revenue of $7.8 million and 54 employees.
9. iLease Pro
iLease Pro includes capitalization reporting, document management, portfolio management, lease origination, and more logical features. iLease Pro has annual revenue of more than $5 million and more than 25 employees.
ZenTreasury includes debt management, financial analysis, general ledger, real-time monitoring, and more contributive features. ZenTreasury has annual revenue of 910 thousand and seven employees.
What is a lease?
A lease is an agreement between two parties to temporarily own a product or service for a specified length of time. Leases involve compliance, rules, policies, and acknowledgment to close the deal. It exists as not all people want to possess a product permanently. In other cases, several individuals can’t afford to buy a house, condominium, car, etc.
Why is accounting important?
Accounting is essential in the business industry. It is an activity that involves multiple valuable assets of your company. Accounting helps a company analyze, manage, compute assets, expenditures, and more. It also assists in compliance management and other critical financial factors to improve decision-making processes. Accounting enables accurate financial record transactions and assessments.
Why is software beneficial?
Software is one of the most necessary items in the professional field nowadays; it is a technology partner that allows companies to enhance productivity, operations, and quality of their operations and productions. It offers automation, file cloud storage, communication tools, and more advanced tools you can trust. The software ensures operational efficiency and customer satisfaction.
Poor lease accounting can amplify the complexities of your business. Aside from that, your clients will fade their trust and search for another firm. That is why high-quality and reliable lease accounting is essential. You can reach this goal with lease accounting software. A technology partner that assists you in managing your clients’ documents, payments, compliance, and more.
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