Product Overview
EZLease is a lease accounting software designed to ensure long-term compliance with various standards such as ASC 842, GASB 87, GASB 96, and IFRS 16. It has the ability to handle both real estate and equipment leases for lessees and lessors. EZLease provides a centralized lease database, automated validation, and push-button accounting and disclosures reporting. Its capability to load and update leases in bulk or individually, along with automated lease data management and reporting processes, makes it a solid choice for businesses looking to streamline their lease accounting operations.Pros
- ASC 842, GASB 87, GASB 96 and IFRS 16 compliant
- Covers equipment and real estate assets
- Customer-first support
- Free for 1-5 leases
Cons
- Reports require verification
- Extending or revising a lease is not intuitive
- Initial learning curve for new users
Target Market
Mid-sized to large enterprises managing 50 to over 1,000 leases, with an employee count ranging from 200 to over 5,000.EZLease helps manage and automate lease accounting and compliance processes. It has the ability to handle bulk uploads and updates, making it efficient for large-scale lease data management. The software also features customizable fields, enabling users to track additional information tailored to their specific needs.
- Centralized Lease Database: Streamlines management by consolidating all lease data in one place.
- Push-Button Reporting: Facilitates quick and accurate generation of accounting and disclosure reports.
- Bulk Uploads/Updates: Allows for efficient large-scale management of lease data.
- Customizable Fields: Enables tracking of specific information relevant to the organization.
- Compliance Support: Comprehensive adherence to ASC 842, GASB 87, GASB 96, and IFRS 16 standards.
EZLease Features
- Flexible reporting dates
- Amortization schedules
- Journal entries
- Early termination gain/loss reporting
- Ability to book leases late or reverse leases without affecting prior reporting periods
- Multiple depreciation methods (straight line, 150%/200% declining balance, and custom methods)
- Reports for single, grouped, or all leases
- Custom reports available
- Lessor and optional asset retirement obligations (ARO) accounting
- Multi-user access
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