Category Archives: iLeasePro

Updates, discussions, events, news about the iLeasePro SaaS Lease Management and Accounting Solution

Risks of Using Spreadsheets to Comply with the ASC 842 Lease Accounting Standard

The FASB ASC 842 Lease Accounting Standard for lease accounting is now in effect for both public and non-public companies.  This standard will be required of many business entities throughout the United States. The accounting change makes lease management and accounting much more complex. The ASC 842 accounting model requires more sophisticated financial calculations and… Read More »

iLeaseXpress Receives Honerable Mention in the 2022 Accounting Today Top Accounting Products

iLeaseXpress has received Honorable Mention in the Lease Accounting Tools category in the 2022 Top Accounting Products of Accounting Today. Additional information can be found on the Accounting Today website. “We are very proud and honored to receive this award from Account Today”, stated John Meedzan, Managing Partner of iLease Management LLC. “We want to… Read More »

Transitioning Clients to the FASB ASC842 Lease Accounting Standard: A Guide for Advisory Firms

iLease Management LLC (“iLease”) has been providing insightful research and recommended approaches into the proposed lease accounting changes since 2011. We do provide a brief overview and update of the proposed lease accounting changes in this document, but you will find that this whitepaper is different than others that we have authored. In this whitepaper… Read More »

The New Lease Accounting Standards and Technology Requirements

Earlier this week, I participated on a webinar on the new lease accounting standards. The webinar was given by one of the major accounting firms and was specifically directed at how the new lease standards will impact lessees. One of the polling questions asked of participants during the course of the webinar was whether, in… Read More »

Sage Intacct and iLeasePro Announce Major Integration Enhancement

iLease Management LLC (“iLease”), developer of iLeasePro, an enterprise cloud-based Lease Management and Accounting solution, has announced a major step forward in its strategic partnership and integration with Sage Intacct, a leader in cloud-based financial management and accounting software. iLease has released the capability to take advantage of Sage Intacct’s dimension feature to seamlessly track… Read More »

New Transition Option for Lease Standard

Earlier this month, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) which would provide an additional transition option when adopting the new lease accounting standard. Under the proposed ASU, organizations would have the option to use the effective date as the date of adoption instead of at the earliest comparative… Read More »

Governmental Accounting Standards – Leases

In June 2017, the Governmental Accounting Standards Board (“GASB”) issued Statement No. 87 – Leases which establishes new accounting standards to be applied to all lease transactions for state and local governments. The Standard is effective for fiscal periods beginning after December 15, 2019 with earlier application encouraged. The governmental standard follows most of the… Read More »