The most proven lease accounting software for ASC 842 and IFRS 16 compliance.
Trusted and recommended by more leading accounting firms and service providers than any other lease accounting software to manage and report on real estate, equipment and other leased assets for compliance with the new FASB and IASB standards.
Risk-free, error-free lease accounting
No on 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.
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
Intuitive software, automated reporting, in-house implementation services and support
Supports all types of real estate, equipment and other leased assets for ASC 842 and IFRS 16 guidance
Cloud-based, low-cost deployment, unlimited system users, no expensive upgrades
CPA tested, industry-leading solution, track record of FASB and IASB compliance, 99% customer renewal rate
Enterprise security with annual SSAE 18 SOC 1 and SOC 2 audits, data encryption, backed by a stable public company
Effective controls and procedures for financial reporting meet Sarbanes-Oxley requirements
Data Consolidation for Lease Accounting Compliance highlights the benefits of centralized lease data, how to approach a consolidation project and more. Find more lease accounting whitepapers in our resources section.
“With CoStar, you can drive business results and meet the new lease accounting requirements. It’s clearly the best all-around choice.”
Matt Waters, CPA
Former Lease Accounting Manager with the Nation’s Largest Home Improvement Retailer