Automate arduous tasks that come with complying with the new lease accounting standards ASC 842 and IFRS 16. With Cradle’s lease accounting software, standardize your lease financial reporting process across your entire organization not only drastically reduces the opportunity for manual error but also streamlines your financial reporting.
Cradle Accounting Features
- Lease Accounting: Cradle can handle any lease permutation. It has been engineered to handle edge case lease accounting scenarios.
- Ease of Use: If a user cannot use the software, all the features become redundant. Cradle’s intuitive user interface ensures lease accounting has never been easier.
- All financial reports and disclosures: Cradle produces all financial reports, which can be run for any date range. Furthermore, Cradle has the required disclosure reports set out by the lease accounting standard.
- Consolidated Accounting: Cradle replicates the principles of consolidation accounting. Manage leases by each subsidiary. At month-end, have the flexibility to run reports at the agreement, subsidiary, or consolidated level.
- Search: Find your leases from various inputs (e.g., commencement date or custom fields).
- Modification Accounting: Add a modification, and Cradle does the accounting in compliance with the applicable standard. Also, Cradle logs all modifications ensuring every user has visibility over the changes to the lease portfolio.
- Foreign exchange: Upload the foreign exchange rates, and Cradle handles the rest. Cradle will automatically convert leases in foreign currencies back to the subsidiary’s functional currency. Cradle can also handle any conversions from the functional currencies of a subsidiary to the reporting currency of the parent entity.
- Export: Conveniently export all your calculations in a .csv file for offline formatted to meet your ERP general ledger environment.
- Custom Fields: Capture any data related to your lease portfolio. Have the ability to run reports on this data and export.
- Reminders: Set up email reminders to ensure no key lease events are missed.
- Secure Access: Multiple users can safely access from anywhere around the world, restricted to the permission levels you dictate.
- Calculation methodology: Calculate net present value with extreme accuracy. Choose your present value calculation methodology to match either the standard setters or Excel.
Cradle Accounting Pricing
The cost of Cradle Accounting starts at $99/10 lease limit/month. The software is priced per leases managed. There is a free trial available. There is no free version available.