The Best Lease Accounting Software of 2021

Our lease accounting software reviews are the result of over 40 hours of research on 80+ lease accounting software companies from across the web. These reviews and our lease accounting software guide help small businesses and startups find the best lease accounting software for their business.

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How We Chose the Best Lease Accounting Software

Lease accounting software tracks income and expenses for property and equipment rental businesses, also known as  lessors, and businesses that lease property or equipment for their own use, aka lessees. It also ensures businesses stay in compliance with domestic and international accounting standards. There are many lease accounting software companies that tout multiple features to help businesses manage the financial and reporting aspects of their leased assets. We evaluated companies based on important features, including amortization schedules, expense management, and integrations.

Amortization Schedule

Amortization is the process of paying off a debt over time by making regularly scheduled lease payments. These payments are amortized for the set term of the lease using the straight-line method. An amortization schedule for calculating total lease charges and tracking lease duration is an essential feature of lease accounting software, so we looked for software that included this feature.

Expense Management

The best lease accounting software has multiple features for managing expenses, including budgeting, forecasting, and expense tracking. Lease accounting software should assist with budgeting and forecasting so that businesses can track their performance, improve financial decision making, and plan for the future. It should also track all types of expenses, including maintenance and repair costs, bank and legal fees, and other operating costs. We focused on companies with robust expense management features in their software.

Integrations

Lease accounting software often integrates with lease management software for an all-in-one solution that helps businesses maintain lease portfolios, documents, tenants/customers, deadlines, and other leasing data. It also usually integrates with core business systems, such as popular enterprise resource planning (ERP) applications, accounting systems, and other tools used with lease accounting software. We recommend software that integrates easily with the most popular business software to create a unified platform with hassle-free lease and transaction management.

The 15 Best Lease Accounting Software Programs of 2021

CompanyPriceFree Trial/DemoMore
AMTdirectCustom quoteFree demoVisit AMTdirect
Bloomberg Tax & Accounting Leased AssetsCustom quoteFree demoVisit Bloomberg Tax & Accounting Leased Assets
CoStar Real Estate ManagerCustom quoteFree demoVisit CoStar Real Estate Manager
Lease HarborBase Fee:
$300/month
NoneVisit Lease Harbor
LeaseAcceleratorCustom quoteFree demoVisit LeaseAccelerator
LeaseCrunchCustom quoteFree trialVisit LeaseCrunch
LeaseQueryCustom quoteFree demoVisit LeaseQuery
MRI Software, LLCCustom quoteFree demoVisit MRI Software
NakisaCustom quoteFree demoVisit Nakisa
Nomos OneCustom quoteFree demoVisit Nomos One
PowerPlan Lease AccountingCustom quoteFree demoVisit PowerPlan Lease Accounting
ProgenCustom quoteFree demoVisit Progen
Real Asset ManagementCustom quoteFree demoVisit Real Asset Management
Visual LeaseCustom quoteFree demoVisit Visual Lease
ZenTreasury LeasingCustom quoteFree demoVisit ZenTreasury Leasing

AMTdirect

AMTdirect
AMTdirect is a cloud-based lease accounting and financial reporting compliance software that helps users manage day-to-day lease accounting and the transition to the new Government Accounting Standards Board (GASB), Financial Accounting Standards Board (FASB), International Accounting Standards Board (IASB), and International Financial Reporting Standards (IFRS) leasing standards. Its comprehensive software solution combines lease accounting and administration and handles all leasing needs for real estate and equipment, plus owned, leased, and subleased assets. Key features include:

  • Processes accounts receivable (A/R), accounts payable (A/P), Consumer Price Index (CPI), allocations, operating expenses, and more
  • Calculates current CPI charges and future increases automatically
  • Calculates IFRS 16 or FASB Accounting Standard Codification (ASC) 842 schedules, percentage rent, and rent tax
  • Creates billings and adjustments and implements approval workflow
  • Automates historical reporting of payables and receivables and tracks delinquencies
  • Creates monthly rental invoices by portfolio, region, or individual locations

AMTdirect integrates with core business systems, including popular accounting and ERP applications, and internally developed systems. This gives businesses a unified platform with centralized analytics and transaction management that increases efficiency and data integrity.

PriceFree Trial/DemoFeatures
Custom quoteFree demo>Deployment: Web-based, cloud, software-as-a-service (SaaS), iPhone, iPad, and Android
>Support options: Business hours and online
>Integrations: Accounting, enterprise resource planning (ERP), and internally developed systems
>More features at AMTdirect

Pros & Cons of AMTdirect Lease Accounting Software
AMTdirect doesn’t offer a free trial, but it does offer a free demo. Its software solution includes key expense management features, such as amortization schedules, billing and invoicing, budgeting and forecasting, expense tracking and payment tracking, and has integration capabilities with ERP, accounting, and internal systems.

ProsCons
>Integrates with ERP and accounting systems>No free trial
>Includes key expense management features

What Customers Are Saying
Customers praise AMTdirect’s ease of use, cloud-based deployment, customization, and customer support. One customer said it, “keeps me organized and informed to make better business decisions for the company. [It] allows me to handle lease negotiations, maintenance, repairs, and provide organization for projects concerning the locations in our portfolio.”

Bloomberg Tax & Accounting Leased Assets

Bloomberg-Tax-Leased-Assets
Bloomberg Tax & Accounting Leased Assets is a cloud-based lease management solution that helps enterprises track and manage all leased asset types, including finance and operating leases. Its SaaS solution enables users to handle complex tax calculations for managing lease liabilities and right-of-use assets. Bloomberg’s software also provides accurate classification, accounting, and reporting for leased assets under the new IFRS 16 and ASC 842 standards. Key features include:

  • Automated lease accounting processes
  • Comprehensive calculations that ensure accuracy
  • Immediately accessible lease details, quantitative disclosures, and amortization schedules
  • Ability to modify or cancel lease arrangement with calculations updated instantly
  • Custom fields to track what’s important and customize reporting needs
  • Access to critical lease dates to stay informed and current
  • Audit trail through tracked changes and complete history of every action taken

Bloomberg Tax Leased Assets streamlines workflows through seamless integrations between multiple leasing systems, ERP, A/P, general ledger, and other internal systems.

PriceFree Trial/DemoFeatures
Custom quoteFree demo>Deployment: Web-based, cloud, and SaaS
>Support options: Business hours and online
>Integrations: Multiple ERP/GL/A/P, leasing, and internal systems
>More features at Bloomberg Tax & Accounting Leased Assets

Pros & Cons of Bloomberg Tax Leased Assets Lease Accounting Software
Bloomberg Tax & Accounting’s leased assets software offers a free demo and integrates with ERP, A/P, general ledger, leasing, and internal systems to reduce errors and streamline workflow. It’s primarily a lease management package, so it’s missing key expense management features, such as billing and invoicing, budgeting, forecasting, and expense tracking.

ProsCons
>Multiple integrations>No public pricing information
>Includes portfolio and asset management>Missing key expense management features

What Customers Are Saying
Customers like the time-saving features of the Bloomberg Tax & Accounting Leased Asset software. “We spend less time pulling reports and entering information and more time analyzing and comparing data,” one user said.

CoStar Real Estate Manager

CoStar-Real-Estate-Manager
CoStar Real Estate Manager is a cloud-based software that combines lease accounting, lease administration, and portfolio and transaction management in one solution. Users can achieve error-free lease accounting while managing and reporting on leased equipment and real estate for compliance with new IFRS 16 and ASC 842 standards. CoStar REM quickly generates comprehensive disclosure reports, including standard, custom, and ad hoc reports. Other key features include:

  • Accounting dashboard with live balance sheet
  • Automatic journal entry posting to general ledger
  • Base rent and payments in any currency
  • Automated gross amounts payable per unit of measure and time
  • Access to billing and invoicing details
  • Expense payments to multiple parties
  • Budgeting and forecasting guidance
  • Automated disclosure with lease audit notes
  • Unlimited users and security controls

CoStar REM supports more than 700 system integrations, integrating with leading ERP, accounting, reconciliation, and other business systems to streamline rent payments, financial reporting, and month-end close.

PriceFree Trial/DemoFeatures
Custom quoteFree demo>Deployment: Web-based, cloud, and SaaS
>Support options: Business hours
>Integrations: Supports 700+ system integrations, including ERP, accounting, general ledger (GL)/A/P/A/R, reconciliation, sales, purchasing, vendor/fleet, and custom systems
>More features at CoStar Real Estate Manager

Pros & Cons of CoStar Real Estate Manager Lease Accounting Software
CoStar REM includes key expense management features for real estate and equipment leases, including amortization schedules, billing and invoicing, budgeting and forecasting, and payment tracking. However, it tracks expense payments but not expenses. Interested individuals can request a free demo, but CoStar doesn’t provide public pricing information for comparisons.

ProsCons
>Includes key expense management features>No public pricing information
>More than 700 integrations>Doesn’t include expense tracking

What Customers Are Saying
CoStar Real Estate Manager customers like that it’s user-friendly, and the reps know their products. One customer said, “By having a system like CoStar, where you can drive business results and meet the new accounting requirements, I think it’s a much easier sell across your business.”

Lease Harbor

Lease Harbor
Lease Harbor is a web-based lease accounting and real property portfolio administration system that handles accounting throughout the life cycle of a lease. It supports all asset types and fiscal calendars as well as complicated lease attributes like prorated starting and/or ending periods, mid-month rent increases, and nonstandard lease intervals. Other features include:

  • Lease accounting, administration, and transaction management functions
  • Bulk data uploads, inputs, and updates
  • Unlimited configurable templates, tasks, and types with unlimited custom fields
  • Subsidiary ledger supporting general ledgers with lease liabilities and right-of-use assets
  • Income statements for front-loaded and straight-line lease classification models
  • Monthly calculation of right-of-use amortization expense
  • Journal entries built to client specifications for easier upload into general ledgers
  • Fully allocated journal entry batching, with file formats compatible with all major general ledger systems

Lease Harbor also offers robust search and reporting capabilities with both summary and detail levels.

PriceFree Trial/DemoFeatures
Base Fee:
$300/month
None>Deployment: Web-based, cloud, and SaaS
>Support options: Business hours and online
>Integrations: Lease Harbor lease administration
>More features at Lease Harbor

Pros & Cons of Lease Harbor Lease Accounting Software
Lease Harbor handles real estate and equipment leases with vital expense management features, including amortization schedules, billing and invoicing, payment tracking, budgeting, forecasting, and expense tracking. It has a low monthly base rate, but there are numerous fees added on, including monthly portfolio, record, and power reporting fees.

ProsCons
>Offers a free demo>Several fees added to monthly base cost
>Low starting rate
>Includes key expense management features

What Customers Are Saying
Customers like Lease Harbor’s ease of use, reporting capabilities, web-based access, and responsive technical support. One user remarked, “Lease Harbor is a reasonably priced software that does everything you need for the new standard. They provide JE [journal entry] and customized reporting!”

LeaseAccelerator

LeaseAccelerator
LeaseAccelerator’s SaaS solution automates lease accounting and simplifies monthly close while enabling users to comply with the latest ASC 842, IFRS 16, and GASB 87 accounting standards. It provides a specialized subledger for all lease types, including real estate and fleet, material handling, information technology (IT), and other equipment leases. LeaseAccelerator’s global lease accounting engine generates an audit-ready monthly close and minimizes audit risk by applying corporate policies and enforcing automated governance.

LeaseAccelerator has a comprehensive library of standard reports. Users get automated reporting throughout the lease life cycle with complete disclosure, cause of change, roll forward, and trial balance reports that provide valuable business insights. Centralized, asset-level data also makes it easier for users to keep up with leasing changes. LeaseAccelerator integrates with ERP systems, including Oracle and SAP so that users can manage lease data seamlessly and accurately. Pricing is based on the number of leases and product options the buyer selects.

PriceFree Trial/DemoFeatures
Custom quoteFree demo>Deployment: Web-based, cloud, and SaaS
>Support options: 24/7 live rep
>Integrations: ERP systems, including Oracle and SAP
>More features at LeaseAccelerator

Pros & Cons of LeaseAccelerator Lease Accounting Software
LeaseAccelerator provides free demos and 24/7 customer support from a live rep. It includes important expense management features, including amortization schedules, budgeting, forecasting, payment tracking, and expense tracking, but it’s missing billing and invoicing. Its annual cost is rather high, likely leaving it out of reach for smaller businesses.

ProsCons
>Includes key expense management features>Doesn’t include billing and invoicing
>Provides 24/7 live rep support

What Customers Are Saying
Customers comment on LeaseAccelerator’s built-in controls and reporting capabilities. One user said, “The biggest benefit is the ability to manage a large, complex and highly fluid lease portfolio across multiple accounting standards. This allows us to … meet the requirements for different regulatory reports using a single set of data.”

LeaseCrunch

LeaseCrunch
LeaseCrunch provides a cloud-based lease accounting software that helps businesses simplify the implementation of the new ASC 842, GASB 87, and IFRS 16 lease accounting standards. The consistent, unified interface is scalable, allowing users to manage their entire client portfolio, whether they have one lease or thousands. The comprehensive software solution also ensures error-free calculations with step-by-step wizards that provide lease terms and classifications.

LeaseCrunch has automated quantitative footnote disclosures and simplified policy election with templates for IFRS, GASB, and FASB to ensure users are in compliance with all lease standard nuances. Out-of-the-box reporting allows users to start immediately, but custom report creation is also available to meet specific needs. It’s optimized for quick data entry, including new lease entry, with a simplistic design and integrated validation checks to provide greater accuracy. LeaseCrunch’s export engine provides customizable exports to update ERP easily and other accounting systems.

PriceFree Trial/DemoFeatures
Custom quoteFree trial>Deployment: Web-based, cloud, and SaaS
>Support options: Business hours and online
>More features at LeaseCrunch

Pros & Cons of LeaseCrunch Lease Accounting Software
LeaseCrunch offers a free demo. Then, after completion, individuals can request a free trial of an unspecified duration. LeaseCrunch doesn’t list any integrations with other core business software, but it does provide customizable exports to update ERP and other accounting systems.

ProsCons
>Offers a free trial>No public pricing information
>Includes amortization schedules>No billing, invoicing, budgeting, or forecasting
>Includes payment and expense tracking

What Customers Are Saying
One LeaseCrunch client said, “The solution operates through a single interface, simplifying one element of a complicated and expensive process, as companies work to implement the new lease accounting standards.”

LeaseQuery

Leasequery
LeaseQuery is a cloud-based lease accounting software that handles any type of lease asset, including real estate, equipment, and vehicles with straight-line monthly journal entries required by generally accepted accounting principles. This software helps businesses smoothly transition to the new FASB ASC 842, GASB 87, and IFRS 16 accounting rules and improves lease accounting for users reporting under FASB, IFRS, and GASB. It provides accurate lease accounting calculations, journal entries, and amortization schedules for lease liability and right-of-use (ROU) assets. Key features include:

  • Alerts for critical dates, renewal deadlines, and document completion
  • Portfolio analysis for the effect of the new accounting standards
  • Centralized database accessible anywhere with an internet connection
  • Search function to pull up contracts quickly
  • Custom reporting studio that provides insight into financial details of leases
  • Specific disclosure reports required by auditors and regulators
  • Secure SaaS platform that reduces the risk of data being compromised
PriceFree Trial/DemoFeatures
Custom quoteFree demo>Deployment: Web-based, cloud, and SaaS
>Support options: Business hours and online
>Integrations: ERP and general ledger software
>More features at LeaseQuery

Pros & Cons of LeaseQuery Lease Accounting Software
LeaseQuery offers free demos to explore its real estate and equipment lease accounting platform, which includes amortization schedules and expense management features like budgeting, forecasting, payment tracking, and expense tracking. However, it doesn’t include billing and invoicing or provide public pricing information for comparisons.

ProsCons
>Includes key expense management features>No public pricing information
>Integrates with ERP and general ledger systems>Doesn’t include billing and invoicing

What Customers Are Saying
LeaseQuery customers frequently comment on its responsive customer service, report customization capabilities, and ease of use. One user said, “The software is very user friendly and has out-of-the-box reports that make ASC 842 compliance a breeze. The tool makes lease management and accounting very simple from beginning to end.”

MRI Software

MRI-Real-Estate-software
MRI Software offers ProLease, a fully integrated lease administration and accounting software for managing real estate and equipment leases. This comprehensive system ensures users stay compliant with FASB ASC 842, IASB IFRS 16, and GASB 87 accounting standards. ProLease saves time with automated, error-free calculations that are integrated with corporate accounting systems to eliminate manual journal creation. It also recalculates and adjusts balance sheets automatically for extended or terminated leases and integrates with corporate ERP for lease payments and receivables. Other features include:

  • Single-source data capture eliminates need for multiple entries
  • Importation of revised lease abstracts ensures accuracy
  • Critical data tracking of lease terms, residual value guarantees, and depreciation schedules
  • Disclosure reports detailing amortization, interest, right-of-use assets, weighted terms, and cash flow
  • Audit trail with amortization, balance sheet calculations, interest, depreciation, opening/closing liability, and more for each lease
  • Scenario modeling to determine impact of new leases on the balance sheet
PriceFree Trial/DemoFeatures
Custom quoteFree demo>Deployment: Web-based, cloud, and SaaS
>Support options: Business hours, Online, and 24/7 live rep
>Integrations: Corporate ERP and accounting systems
>More features at MRI Software

Pros & Cons of MRI Software Lease Accounting Software
ProLease is part of the MRI Software family, so users have access to many other real estate software systems. ProLease includes budgeting, forecasting, payment and expense tracking, and billing and invoicing for real estate and equipment. It also offers a free demo, but it doesn’t disclose public pricing information for comparison.

ProsCons
>Offers 24/7 customer support>No public pricing information
>Integrates with ERP and accounting systems

What Customers Are Saying
ProLease users consistently praise its ease of use, flexible reporting, and high level of customer support. One customer said, “My needs for a RE database include robust, flexible reporting, and additional fields to house internal codes. ProLease more than meets my needs. Customer support is second to none.”

Nakisa

Nakisa
Nakisa lease accounting and administration is a cloud-based solution that leverages data from existing accounting and finance systems. It’s an end-to-end lease accounting, management, and reporting system that centralizes company-wide data and supports IFRS 16 and ASC 842 regulatory compliance. Key features include:

  • Lease management for real estate and equipment
  • Centralized global leasing data
  • Insights into lease liabilities and financial data
  • Performance of initial measurement of ROU assets and lease liabilities
  • Lease modification and asset causality facilitation
  • Quantitative note disclosure preparation
  • Contract management using multilevel contract structure
  • Lease determination and classification standardization

Nakisa lets users collect, visualize, and analyze lease data for actionable insights. Users can also generate custom reports with the dashboard reporting tool, including Generally Accepted Accounting Principles (GAAP)-compliant reports, ad hoc analytics and reports, disclosure reports for all lease types, management reports, activity analysis, and reconciliation reports for audit trails that integrate with all ERP systems.

PriceFree Trial/DemoFeatures
Custom quoteFree demo>Deployment: Web-based, cloud, and SaaS
>Support options: Business hours, online, and 24/7 live rep
>Integrations: All ERP systems
>More features at Nakisa

Pros & Cons of Nakisa Lease Accounting Software
Nakisa includes key features, including amortization schedules, payment tracking, expense tracking, budgeting, forecasting, billing, and invoicing. It offers a free demo and 24/7 live customer support. However, it doesn’t provide public pricing for easy comparisons and only mentions ERP integrations, so it may not integrate with other core business software.

ProsCons
>Offers 24/7 live support>No public pricing information
>Includes amortization schedule>Limited integrations
>Includes all expense management features

What Customers Are Saying
“The software has an easy-to-use interface that new users have quickly grasped … we have been able to easily utilize it to create custom reports,” one user commented. Other customers remark on its scalability, support for compliance initiatives, and ability to bring all lease assets under one umbrella.

Nomos One

Nomos-One
Nomos One is an IFRS 16-compliant lease management and accounting software. Its IFRS 16 module supports all three transition approaches and allows users to select modified approaches on a lease-by-lease basis. The intuitive wizard guides users through the transition process to ensure they don’t overlook any requirements of the current accounting standards. Nomos One calculates lease liability and right-of-use assets. It also lets users save rent increases, discount rates, incentives, and future payments against their portfolios and apply bulk settings across agreements with similar characteristics. Other key features include:

  • Personal dashboard
  • Lease administration
  • IFRS 16 transition, calculations, and reporting
  • Critical date reminders
  • Exports to ERP and financial systems
  • Unlimited document storage, users, upgrades, training, and support

Nomos One generates balance sheets, journals, and depreciation and interest schedules users can export and upload to their general ledger. It also generates reports to compare financial impacts under all transition methods.

PriceFree Trial/DemoFeatures
Custom quoteFree demo>Deployment: Web-based, cloud, and SaaS
>Support options: Business hours and online
>Integrations: ERP and financial systems
>More features at Nomos One

Pros & Cons of Nomos One Lease Accounting Software
Nomos One offers a free demo and handles billing and invoicing for property portfolios. It also integrates with ERP and financial systems to prevent errors. However, it doesn’t include amortization schedules, and it’s missing important expense management features like payment tracking, expense tracking, budgeting, and forecasting.

ProsCons
>Integrates with ERP and financial systems>No public pricing information

What Customers Are Saying
Customers like Nomos One’s onboarding process, centralized system, and professionalism. One customer said, “With Nomos One, we have great visibility and insight across our lease portfolio. The system is highly intuitive and has saved our team significant time, money, and stress.”

PowerPlan Lease Accounting

PowerPlan
PowerPlan’s Lease Accounting Suite is fully compliant with current and proposed lease accounting standards and helps businesses with adoption strategies for the ASC 842 and IFRS 16 standards. It’s also compatible with IFRS, GAAP, FERC, and other accounting treatments. PowerPlan is a modular solution that allows users to optimize leasing and subleasing operations with automatic payment approvals, expense forecasting, and complete lease life cycle accounting. Key features include:

  • Managing all capital and operating leases like real estate and equipment agreements
  • Calculating and maintaining accounting schedules of leased assets throughout the lease terms
  • Improving lease agreement forecasting for balance sheets
  • Accessing full amortization and payment schedules for every leased asset
  • Creating custom reports from ad hoc query wizards or utilizing multiple standard reports
  • Minimizing billing errors through automated payment and invoice reconciliation

PowerPlan provides an integrated data repository and seamless integration with numerous enterprise asset management, ERP, and financial systems.

PriceFree Trial/DemoFeatures
Custom quoteFree demo>Deployment: On-premises and cloud
>Support options: Phone, email, and live
>Integrations: Multiple ERP, enterprise asset management (EAM), financial, budgeting, and work management systems
>More features at PowerPlan Lease Accounting

Pros & Cons of PowerPlan Lease Accounting Lease Accounting Software
PowerPlan includes budgeting, forecasting, billing, and other expense management features. Unlike companies with pricing models based on the number of users or amount of data stored, PowerPlan pricing includes unlimited users and storage. New customers get a free demo, however, the vendor doesn’t provide public pricing information for interested parties to make initial comparisons.

ProsCons
>Includes expense management features>No public pricing information

What Customers Are Saying
PowerPlan customers like how easy it is to transfer data from other systems into its platform and how quickly the data is configured. One user said, “The faster we can generate financial reports, the quicker we can get to analysis and strategic decisions. That’s why we rely on PowerPlan.”

Progen

Progen
Progen is a lease and property management software with a full accounting suite that’s configurable to suit any organizational structure or industry. This suite handles end-to-end lease management and accounting for real estate and non-property leases, such as equipment or fleets. It also includes an integrated IFRS 16 compliance module and full audit trail. Other features include:

  • Embedded business analytics tool for full reporting and journal outputs
  • Integrated A/P, A/R, and GL and property-oriented financials
  • Budgeting and forecasting generation and maintenance
  • Data warehouse with summarized data for faster reporting
  • Event notifications and reminders and report scheduler
  • Supports different business entities and multiple currencies
  • Supports unique lessor/lessee structures and complex subleasing situations

Progen analytics delivers IFRS 16 reports. It also has 100s of standard reports and an ad hoc report writer. Progen integrates with other software, including all major ERP systems, corporate accounting suites, and core business apps.

PriceFree Trial/DemoFeatures
Custom quoteFree demo>Deployment: Web-based, cloud, and SaaS
>Support options: Business hours
>Integrations: ERP systems, corporate accounting suites, and various business apps, including SAP, Oracle, Microsoft Dynamics, Sun, Xero, and others
>More features at Progen

Pros & Cons of Progen Lease Accounting Software
Progen users have access to amortization schedules and important expense management tools, such as billing and invoicing, payment and expense tracking, budgeting, and forecasting. However, customer support only is provided during business hours, and the company is based in Australia, potentially making it difficult for users in the United States to access support.

ProsCons
>Numerous integrations>Support only during business hours
>Includes vital expense management tools>No public pricing information

What Customers Are Saying
One Progen user said, “the ability to store information on each lease” is what they liked best about this lease accounting solution. They also said it “is a useful too[l] for managing a high number of leases.”

Real Asset Management

Real-Asset-Management
Real Asset Management’s lease accounting software provides full leasing details, including descriptions, accrual dates, and lease codes. It enables control of operating and finance leases and complete analysis of all lease obligations and contracts. Real Asset Management also assists with compliance for ASC 842 and IFRS 16 accounting standards. Key features include:

  • Generating a schedule of payments
  • Managing variable payment terms based on fluctuating factors
  • Rescheduling lease payments based on CPI and other listings
  • Accessing short-term and long-term obligations statements
  • Issuing automatic report alerts and email notifications for expiration dates, auto-renewals, and other key events
  • Simplifying month-end and year-end reports
  • Keeping complete audit history and related payments of all leases
  • Reporting and forecasting for detailed repayment and interest analysis

Real Asset Management’s suite of standard reports include commitments and obligations analyses and finance lease schedules. Businesses can also create user-defined reports for any past, present, or future accounting period.

PriceFree Trial/DemoFeatures
Custom quoteFree demo>Deployment: Mac install, Windows install, web-based, cloud, and SaaS
>Support options: Business hours and online
>Integrations: Leading finance and ERP systems
>More features at Real Asset Management

Pros & Cons of Real Asset Management Lease Accounting Software
Unlike many options that are only cloud-based or on-premises solutions, Real Asset Management offers both types of deployment. It also offers a free demo and integrates with leading finance and ERP systems. However, it’s missing some key expense management tools and doesn’t provide public pricing information for comparisons.

ProsCons
>Integrates with ERP and finance systems>No public pricing information
>Multiple deployment options>Missing key expense management features

What Customers Are Saying
Customers like Real Asset Management’s ease of use, reporting capabilities, and responsive customer support. One user said it’s a “wonderful product that is highly versatile and user friendly. I particularly enjoy the ability to create custom reports myself without having to go through IT. Customer service is also usually quick.”

Visual Lease

Visual-Lease
Visual Lease is a lease accounting and management software that helps simplify compliance with ASC 842, IFRS 16, and GASB 87 accounting standards. Its platform supports any size or type of lease portfolio with streamlined implementation and an intuitive user interface. Visual Lease is fully configurable to ensure any size company in any industry can capture and track the data points they need with any type of leases. Its calculation engine automates time-consuming accounting tasks by capturing data points to produce accurate journal entries.

Visual Lease also produces a comprehensive audit trail, with full transparency for highly trackable inputs and updates to every lease. Users can choose from more than 100 standard reports or configure ad hoc reports to view specific data. The software also enables one-time or recurring integrations with leading ERP systems, including A/P, A/R, and general ledger modules, to save time pulling data from several different systems.

PriceFree Trial/DemoFeatures
Custom quoteFree demo>Deployment: Web-based, cloud, and SaaS
>Support options: Business hours, online, and 24/7 live rep
>Integrations: ERP systems
>More features at Visual Lease

Pros & Cons of Visual Lease Lease Accounting Software
Visual Lease offers a free demo and provides 24/7 customer service from live representatives. It includes amortization schedules and key expense management tools, including payment tracking, expense tracking, budgeting, and forecasting. However, it doesn’t include billing and invoicing or disclose public pricing information to make comparisons to like products.

ProsCons
>Offers 24/7 live rep>No public pricing information
>Includes numerous expense management features>Doesn’t include billing and invoicing
>Integrates with ERP systems

What Customers Are Saying
“The lease administration functions are much easier to use and there is a seamless flow into the lease accounting functions,” one customer said. Clients also praise Visual Lease’s report generation capabilities, ease of use, assistance with leasing compliance, and knowledgeable, supportive customer service reps.

ZenTreasury Leasing

ZenTreasury
ZenTreasury is a cloud-based, all-in-one accounting and portfolio solution that helps businesses achieve IFRS 16 compliance. Users can manage all their leases in one place and create all necessary accounting entries. Portfolio management includes all lease and rental agreements, lease liability, and right-of-use assets like real estate and equipment leases. ZenTreasury’s simple dashboard provides all lease details within one view, with alerts for maturing leases delivered directly to email.

As an accounting solution, ZenTreasury lets users compute all changes during lease terms and possible profit and loss effects. Users can also create necessary reports, including lease payments, lease changes, and month-end reports. Reports can be exported to a spreadsheet or sent to an accounting system via an interface. ZenTreasury creates an audit trail with all changes to transactions during their life cycle recorded. Businesses can build tailored solutions to match their needs with its modular and volume-based pricing structure.

PriceFree Trial/DemoFeatures
Custom quoteFree demo>Deployment: Web-based, cloud, and SaaS
>Support options: Business hours and email
>More features at ZenTreasury Leasing

Pros & Cons of ZenTreasury Leasing Lease Accounting Software
ZenTreasury offers a free demo and has the lowest per month pricing of all the companies listed that provided public pricing information. It doesn’t have any listed integrations. ZenTreasury offers phone and email support during business hours, but it’s located in Finland, making it difficult for some customers to connect.

ProsCons
>Does budgeting and forecasting>Missing vital expense management features

What Customers Are Saying
ZenTreasury customers frequently comment on its user-friendly interface, quick implementation, cost-effectiveness, and helpful customer service. One customer said, “We are really satisfied with ZenTreasury’s service. It was very quick to implement, SaaS-based, easy to use, and [its] multicurrency functionality really works.”

What Is Lease Accounting Software?

Lease accounting software helps businesses manage the financial and reporting aspects of their leased assets by keeping track of the income and expenses for property and equipment rentals. The platform automates lease portfolio management, amortization schedules, budgeting, and forecasting. Lease accounting systems track payments made, send invoices and other billing documents, generate journal entries, and create financial reports. Many systems also store lease data, allowing users to keep track of each lease and asset, contact information, lease terms, and renewal deadlines. Additionally, good lease accounting software supports data imports from existing spreadsheets, and software repositories into its own database and setup notifications for critical dates.

Lease accounting solutions also help businesses maintain compliance with domestic and international accounting standards mandated by the ASC, FASB, GASB, IASB,, or IFRS. Staying in compliance requires complex calculations to determine which leases must be included on the company’s balance sheet. The software streamlines these calculations for each standard, ensuring users stay up to date and compliant even when standards change.

Benefits of Lease Accounting Software

The primary benefit of lease accounting software is staying in compliance with current accounting standards. However, the best lease accounting software provides many other benefits beyond the legal aspects. Lease databases provide easier and quicker access to contracts and related documents, allow businesses to tailor their reporting based on individual needs and manage critical lease dates proactively. Some of the other top benefits include:

  • Improving efficiency and productivity
  • Centralizing lease contracts and related documents
  • Reducing costly errors by performing accurate calculations
  • Sending journal entries to the general ledger automatically
  • Improving budgeting and forecasting
  • Saving money and making better financial decisions
  • Improving vendor management and increasing leasing power
  • Receiving alerts for critical dates and lease renewals
  • Creating a full audit trail and making audits more efficient
  • Accessing any lease anytime when using cloud-based systems
  • Enhancing interdepartmental collaboration

Must-have Features of Lease Accounting Software

With accurate and relevant financial data, businesses can verify they’re making a profit and meeting their financial goals. To achieve this, lease accounting software must have a range of expense management features, including budgeting, forecasting, billing and invoicing, expense tracking, and payment tracking. Budgeting and forecasting track business performance so that you can improve your financial decision making and plan ahead as your business grows.

Good lease accounting software tracks all types of expenses, including maintenance and repairs costs, loan payments, bank and legal fees, insurance payments, and other costs. It must also track revenue from security deposits, rental payments, and late fees to calculate earnings after expenses. An amortization schedule is another must-have feature for calculating total lease charges and tracking lease duration.

Integration capabilities are essential features to simplify processes, reduce costs, and ensure accuracy and efficiency. Selecting lease accounting software that integrates with existing core business systems provides an all-in-one solution that eliminates costly errors. Integrations allow accurate calculations made by your lease accounting software to transfer automatically to your ERP applications, accounting systems, and other tools often used with lease accounting systems. Data is uniform across platforms because the same information is being sent back and forth.

The Cost of Lease Accounting Software

The two most common pricing models for lease accounting software are based on how much data is stored in the system or the number of users accessing it. Some software solutions have separate fees for each of these factors. User-based pricing tends to be more expensive than data-based pricing, especially if the software is being installed on the buyer’s server.

On-premises software requires more maintenance and IT department involvement and may eventually need an expensive upgrade. Cloud-based software allows users to access their data from anywhere with an internet connection, which can be beneficial in many situations. Pricing for cloud-based software often is calculated by the amount of data stored, and programs that allow unlimited users usually offer the lowest cost overall. Some software providers charge by the number of leases, not the actual data amount. This is handy for lengthy real estate leases that take up more storage space.

Many of the companies on our list don’t provide public pricing information, making it difficult to compare costs. However, of those that do, monthly plans were the norm with costs ranging between $99 and $500. One company charges a hefty annual rate that smaller businesses will likely have trouble managing.