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FASB 842 Compliance

LeaseNet now has integrated FASB 842 compliant calculations for Type B – Operating Leases, and can produce your Right Of Use, Liability, and other schedules under the new lease accounting rules. You can try the calculator at the new ContractNet.IO website. The free calculator allows anyone to produce and download the schedules for one lease at a time. Integrated with LeaseNet, the module gives companies the ability to:

  • Synchronize your recurring and non-recurring payment data and lease options with the module
  • Model the balance sheet impact of the new rules across your portfolio
  • Manage renewal and cancellation attestations
  • Layer amendments and restatements of capital schedules for full audit capability
  • Set specific account codes for capitalization and considerations such as capital deductions, impairments, and direct costs
  • Report across your financial data and explore scenarios for transition

Visit ContractNet.IO, our new website for testing new tools and connections, and have fun.

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Upgraded Contract Financials

For complex contract accounting, we’ve brought together tools that contract and lease administrators need to automate multiple payment, billing, and booking scenarios for complex contracts like retail leases and rack space including:

Payments

  • Index-based variable escalations
  • Revenue Sharing between and across agreements
  • Straightlining and Capitalization of leased assets
  • Overage Rent, Percentage Rent, and Formula-based variable recurring payments
  • Currency Support for Multi-National holdings
  • New approval process tools
  • British Quarter frequencies
  • and More…