Lease accounting software recommended more than any other.
Our lease accounting software with integrated CoStar data 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 and IFRS 16 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 Systems Fail
See why systems fail to meet organizational expectations for compliance with FASB ASC 842 lease accounting. Watch now.
Lease Accounting Software from CoStar
Achieve risk-free, error-free lease accounting
No one offers a more proven, more rigorously tested software solution for ASC 842 and IFRS 16.
Integrate with leading business systems
CoStar seamlessly works with the best ERP and accounting systems to streamline financial reporting, rent payments and more.
Generate disclosure reports in clicks, 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
- Classification Testing
- Manual Disclosure reporting
- Equipment Tracking
- Policy Elections
- GL Accounts and Cost Centers support
- Journal Entry Approvals
- Tracking data points for accounting calculations
What CoStar Does Better
- Lease Administration to Lease Accounting Workflow
- No dual entry/migration needed with 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
- Advanced remeasurement functionality with workflow alerts and automated journal entries
- Retrospective true-up functionality
- APY daily rate calculations
- Support for custom fiscal calendars, including 4-4-5 and 13 period
- Security model controls access by role, portfolio, and company code
- Superior standard, ad hoc and custom reporting
- Discount Rate Automation
- Comprehensive, disclosure reports with audit notes
- Roll Forward Reporting
- Bulk workflow approvals
- Bulk remeasurement capabilities
- Lease audit capability
- Abstract rent as lump-sum amounts or as rate-per-unit
- Auto-calculations and generation of gross amounts payable based on amounts entered per unit of measure and time
- Base rent in any currency
- Expense payments to multiple parties
- Mapping to multiple accounting systems, GL codes and accounts
- Payments made and received in multiple currencies for the same lease
- Expense payment tracking, including check number, amount and date for proof of payment
- Rent details
- Upcoming and planned rent increases
- Invoice details
- Rent review dates
- Budget and forecast guidance
- Accrual building option (pre-payments)
- Subleases are systematically associated with head leases and are charged to internal or external subtenants
- Accounts receivable lease functionality, including invoicing
- Percent rent calculation and processing on a monthly, quarterly and annual basis with natural and multi-tiered breakpoints, floors, payment caps, exclusions and deductions
- 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 and other indexes, including caps, floors, lifetime caps, adjustment periods (annual and multi-year), adjustment start date
- Integrated reminders that automatically send emails when adjustments should be performed
- Automatically calculate charge adjustments and update charges according to edit rules
What makes the best software for ASC 842 and IFRS 16 compliance?
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.