Two Spreadsheet based 842 Solutions to support your Lease Accounting Journey
The Basic 842Lease.com Excel Spreadsheet and the powerful VBA based 842WARE for Lessees©
The Basic 842Lease.com spreadsheet is designed to be very simple and user friendly. It can be used as a standalone ASC 842 Lease solution, or in conjunction with Leasing software. This may be useful for practitioners to test and document the results from their accounting systems since the software systems are new and not well tested in a production environment. This solution will suffice for entities with around a dozen or less leases or a CPA firm validating client provided lease calculations.
The user merely answers the lease and lease type determination questions derived straight from the ASC 842 language. Then the spreadsheet proposes a lease type. The user then enters the lease payments on the input screen. The spreadsheet then calculates and builds all the relevant journal entries by period for operating or financing leases depending on the final lease type. This spreadsheet can easily be customized so it is a great starting point for the basic ASC 842 lease calculations.
The one-time cost for Basic 842Lease.com spreadsheet is $399.00. Please click Buy Now to purchase and a link will be delivered to you automatically for download.
For our active forum members, they can purchase the Excel Solution for $199.00 after five quality discussion posts. Join Now
You can use a spreadsheet solution for large lease populations and get the required disclosure reporting!
The powerful VBA based 842WARE for Lessees©
For the more complex entities, those with a lease population of up 250 and requiring disclosure reporting, the powerful VBA based 842WARE for Lessees© will be the solution of choice. This solution is very comparable to off-the-shelf lease software at a fraction of the cost.
842ware for Lessees© is a software package designed specifically for compliance with the requirements of Accounting Standards Codification 842 “Leases” with all the accompanying nuances such as practical expedients and exhaustive disclosure reporting.
The software is implemented as an Excel macro and it therefore has a simple interface that is familiar to accounting and finance professionals. The lease accounting calculations, forms, and reports are run by several thousand lines of Visual Basic for Applications (“VBA”) code that runs more-or-less continuously in the application. This code is invisible to the user, but the output of the calculations is stored in the application in a way that is accessible through easy-to-use reports and Pivot Tables.
842ware for Lessees© is an affordable and easy-to-use program to help you comply with the new leasing standard. Use of the software is provided under an annual subscription model of $499/year. The software license is tied to an individual PC and is designed to run on current versions of Microsoft Excel for Windows.
Click Subscribe to Order this powerful ASC 842 Leasing Solution