Lease accounting software recommended more than any other.
Lease accounting software from CoStar is trusted and recommended by more leading accounting firms and service providers to manage and report on real estate and equipment for compliance with new ASC 842 guidance.
Webinar: Lease Accounting Fallout from COVID-19
Lease concessions, discount rates and other critical ASC 842 topics affected by the coronavirus. Watch now.
Video: 5 Reasons Lease Accounting Software Fails
See why systems fail to meet organizational expectations for compliance with FASB ASC 842 lease accounting. Watch now.
Watch: 3 Minute Lease Accounting Software Overview
Lease Accounting Software from CoStar
Risk-free, error-free lease accounting
No one offers a more rigorously tested and SSAE audited system.
Simplify month end close
Integrations with CoStar and GL, AP and other systems to streamline financials.
Reports in one click, not days
Superior standard, ad hoc and custom reports save staff hours of time formatting critical information.
Lease Accounting Software Comparison
Most Providers Offer
- Accounting calculations for ASC 842 and IFRS 16
- Finance verses operating classification testing
- Disclosure reporting
- Tracking data points for accounting calculations
What CoStar Does Better
- Lease Administration to Lease Accounting Workflow
- No dual entry/migration using CoStar Lease Administration
- Automatic journal entry posting to GL
- Functional Currency calculations
- Flexible GL account configuration
- Accounting schedule export
- Accounting dashboard with live balance sheet impact
- Retrospective true-up functionality
- Advance re-measurements
- APY daily rate calculations
- Support for custom fiscal calendars: 4-4-5, 13 period, etc.
- Security model controls access by roles, portfolio, etc.
- Superior standard, ad hoc and custom
- Lease audit capability
- Abstract rent as lump sum amounts or as rate per square foot per month and annually
- Auto-calculate and generate gross amounts payable based on amounts entered per unit of measure and time
- Define base rent in any currency
- Define expenses to multiple parties
- Map to multiple accounting systems, GL codes and accounts
- Make and receive payments in multiple currencies for the same lease
- Capture check numbers and payment information including check amount, date and associate with system charge
- Rent details
- Upcoming and planned rent increases
- Invoice details
- Rent review dates
- Budget and forecast guidance
- Accrual building option (pre-payments)
- Define sublease relationships and pass through expenses from payable lease to either 3rd party or business unit subtenants
- Accounts receivable lease functionality including invoicing
- Automated percent rent calculation and processing including: auto-generate natural breakpoints, multi-tiered breakpoints, monthly, quarterly and annual breakpoints, lease level calculation detail, exclusions and deductions, CAPs on exclusions and decisions, greater of base rent or percent rent, minimum and maximum (floor and cap) on percent rent payments due
- Create journal entries to be processed to GL
- Create tax charges for states and areas
- Store and manage multiple indexes (i.e. CPI-U, non-urban consumers, LIBOR etc.) on which charge adjustments are based
- Abstract lease information such that automatic calculations can be performed (i.e. tie a rent charge to an index)
- Abstract adjustment calculation rules related to CPI or other indexes, including: caps, floors, lifetime caps, adjustment periods (annual and multi-year), adjustment start date
- Integrated reminder system that automatically schedules and sends emails when adjustments should be performed
- Automatically calculate charge adjustments and update the charge according to established edit rules
What makes the best lease accounting software?
Whether it’s standard or ad hoc, advance financials and other complex reporting needs, CoStar has you covered.
CoStar has delivered and supports 700+ system integrations.
Integrated CoStar Research
Access CoStar’s #1 commercial real estate data from our lease accounting application to help with fair market valuations.