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New leasing standards call for new ways of ensuring compliance. 

Leases are in the spotlight today as a result of changes in the FASB and IASB lease accounting standards. Accounting departments need to start tracking leases differently to meet the new standards, and many organizations are concerned about their compliance strategy. 

As hundreds or thousands of leases are added to the balance sheet, accounting departments will face new layers of complexity as they struggle to ensure all the necessary details are synchronized.

PowerPlan’s Lease Accounting Suite simplifies the process, by providing complete lifecycle accounting for all capital and operating leases, including equipment, real estate and purchase power agreements. With a central repository that serves as a foundation for reporting on lease inventories, PowerPlan lets your company build a consistent lease management policy.

  • Compliance is ensured through PowerPlan's commitment to continually update the software to meet new regulatory requirements.
  • A central repository for capital and operating leases provides full transparency into lease agreements and recurring payment obligations.
  • Automatic payment approvals ensure correct payment processing.
  • A scalable solution used by many Fortune 500 corporations managing more than $25 billion worth of leased assets.

Lessee Accounting

PowerPlan’s Lessee Accounting module ensures you’re fully compliant with the new FASB and IASB lease accounting standards. It’s compatible with multiple accounting treatments, including GAAP, IFRS, FERC and IASB, and supports bookkeeping, future expense forecasting, investment management, workflow approvals and reporting.

  • Complete asset management tool that functions as a standalone system, or can be integrated with PowerPlan’s industry leading capital asset solutions.
  • Automated processes reduce the risk of audits by eliminating spreadsheets and manual tasks, ensuring accurate billing, reporting and documentation.
  • Single integrated data repository reduces IT costs and provides the transparency you need to make better strategic decisions.
  • Extensive optioning capabilities make it easy to create highly accurate schedules/payments, from the onset of the lease through retirement.
  • Convenient mobile interface lets you approve MLAs, ILRs and payments from any location. 

Lessor Accounting

To comply with new FASB and IASB standards, and their increased emphasis on disclosure reporting, organizations today need a solution that enables complete transparency into lessor portfolios, and improves traceability and recognition of lease receivables.  

PowerPlan’s Lessor Accounting module provides complete lifecycle accounting and invoicing for all lessor agreements, including equipment, real estate and purchase power agreements. It not only serves as a repository for all lessor agreements, but contains enhanced modeling capabilities to generate leases with the most beneficial terms and conditions. The module handles the full range of lease calculations, from simplistic to the most complex, including variable rate and dynamic lease calculations.   

  • Central repository provides full transparency into lease agreements and receivables.
  • Out of the box disclosure reporting satisfies new FASB and IASB standards from both a quantitative and qualitative perspective.
  • Automated processes can integrate invoice creation with billing departments, providing better traceability and recognition of receivables.
  • Rate and term modelling ensures the most beneficial financial terms on the leases in your portfolio.
  • Complete Integration between lessee and lessor solutions simplifies inter-company leasing and subleasing activities.