Are you looking for a more reliable way to account for your leases?
Are you tired of using calculators and spreadsheets to perform the time-consuming and often confusing calculations required to comply with FAS 13/ASC 840 (Accounting for Leases) or IAS 17 (Leases)?
Concerned about whether your current methods will pass Sarbanes-Oxley compliance review?
Do you find it hard to understand the FAS 13 or IAS 17 standard?
Do you want to get ready for the new lease accounting standard (ASC 842/IFRS 16) recently released by the FASB & IASB, which includes capitalizing all existing operating leases?
Then discover the many benefits of using EZLeaseTM, the lease accounting system for lessees or lessors. It eliminates the complexity and confusion associated with generating lease accounting journal entries by hand and requires no prior knowledge of the standards.
Or try it out yourself
Automatic classification and capitalized value/rate computations for every lease; including detailed results of all capital/operating tests
Balance Sheet and Income Statement (P&L) activity by period with ending balances presented by lease and consolidated
Complete footnote disclosures of future rent commitments
Weighted average term and discount rate
Straight-lining of rents for operating leases with scheduled rent increases (when desired)
Additions, early terminations, and normal termination adjustments calculated automatically
Catch-up accounting: A lease that started prior to the current reporting period can be added to the database with a current booking date so that prior reports are unaffected
Revisions affect only future reporting; originally booked information kept for historical reporting
Correction terminations permitted to reverse activity previously booked without affecting closed reporting periods.
Transfer additions and terminations to move leases between divisions mid-life without affecting prior reporting
Any Time Reporting: Allows you to select any time frame for reporting: past, present, or future.
Implicit interest rate calculated if unguaranteed residual entered
Contingent rents (variable lease payments) tracked separately from minimum lease payments; seven different types of contingent rent can be recorded individually
Month to month lease extensions keep lease active after expiration
Notice dates: Automatic reminders of rent changes, lease expirations, and user-defined events
Operating leases can be treated as capital using incremental borrowing rate (for bank indenture reporting) or a specified rate
Consolidations: Reports can be subtotaled and consolidated based on user-defined criteria
Complies with both corporate (FASB/IASB) and governmental (GASB) standards
Complies with the new ASC 842/IFRS 16 rewrite of lease accounting standards
Can be used to comply with International Accounting Standard 17 (IAS 17, Leases; fact sheet available describing alternate reporting required)
Ideal for accounting firms, corporations, and governmental bodies
Formatted screen input or spreadsheet upload of data
On-line, context-sensitive Help
Reporting can be done either on the screen, on a printer, or to a file (spreadsheet, PDF, and other formats)
Input data validated during entry
Comprehensive user documentation, both online and printed, including text explaining all relevant sections of leasing standards and glossary of common leasing terms
Also useful as a financial calculator (present values of multiple payment streams, internal rate of return, etc.)
Telephone/email/remote connection support provided by trained lease accounting specialists
Customization available for specialized reports or automatic interfaces with other systems
EZLease is also available in an edition for lessors. The lessor edition includes essentially the same input and reporting options, but shows output appropriate to income leases. Operating, direct financing, and sales-type leases are supported. (Leveraged leases are not supported.) Amortization of initial direct costs is included, including interest-based amortization for direct financing leases. The price for the lessor version of EZLease is the same as for the lessee version (see below). Purchasers of both the lessee and lessor version receive a 50% discount on the second license. A fully functional trial version is available at https://ezlease.net/download.htm.
70 MB hard disk space for installation
Monitor with at least 1024x768 resolution (or higher)
Designed to account for all types of lessee leases (for lessors: accounts for operating, direct financing, and sales-type leases)
Payment period lengths allowed: One Time, Daily, Weekly, Monthly, Quarterly, Semiannual, Yearly; varying lengths allowed for a single lease
Maximum number of changes in rents (rent steps) per lease: Unlimited
Maximum number of leases per database: Unlimited
Precision of imputed interest rate: 12 digits
Space for descriptive information: Unlimited (more than 30 separate fields; optional selection lists)
Guaranteed & unguaranteed residual values and asset salvage values for maximum flexibility.
Automatic calculation of rents for leases with level principal amortization or rent escalation clauses
Depreciation: Straight-line, Straight line with half-year convention, 150% & 200% declining balance, or no depreciation (other methods available as customizations)
Account numbers can be specified for individual leases or groups of leases, to be output on spreadsheets
Pictures or documents can be attached and displayed/printed
Fund accounting (apportioning leases among multiple fund accounts) available at extra cost
Asset Retirement Obligations (ARO, as required by FAS 143/ASC 410/IAS 37) reporting available at extra cost
SQL Server database installation at extra cost
Report by either FAS 13/IAS 17 or ASC 842/IFRS 16
User-selectable time frame: past, present, or future; up to 999 periods, any length
Fiscal period reporting: Calendar months or 12 or 13 periods (week-based)
Report on one lease, group of leases (based on lease number or any/all of numerous descriptive fields), or all leases; capital only, operating only, or both; totals only or detail by lease
Balance Sheet and Income Statement (P&L) for selected time frames
Complete set of journal entries
Current rent report
Footnote disclosures table (including future rent commitments and weighted average term and discount rate)
Expiring leases listing
Depreciation over economic life, after lease expiration (for leases with ownership transfer or bargain purchase option)
All calculations track fractions of a cent with reports tying to the penny (for example, $100 depreciation over 3 months gives $33.33, $33.34, and $33.33)
Depreciation can be calculated by 30-day month or by day
Reports to screen, printer, or file (including Excel® or XML spreadsheet, PDF, HTML)
Customized reports available upon request.
Ordering Information & Pricing:
EZLease is available in two editions:
Standard Edition: Unlimited number of leases and databases: $5995 for a single-computer license.
Additional seat licenses available for $1500 each.
Options: Asset retirement obligations: $2500 for first license, plus $600 per seat license
SQL Server databases: $3000
. Lite Edition: One database, priced by maximum lease count: 10: $375; 20: $695; 30: $995; 50: $1495, 100: $2995; 200: $4495.
Additional seat licenses approximately 35% of base price (call for details).
(Lite Edition limitations: selecting leases for reporting subgroups only based on the beginning characters of the lease number; report periods can be full months, quarters, years, or 28 or 35 days, not variable lengths, but can start any day. Printed manual extra cost for fewer than 50 lease license.)
Sales tax extra in CT and PA. International orders may have additional taxes and duties; all prices in US dollars.
How to Order:
EZLease can be purchased by check, money order, or credit card (MasterCard, Visa, American Express, or Discover); purchase orders accepted on purchases over $1000. Order online, send us an order form, or call (203) 652-1375. Price includes a comprehensive manual describing both the various lease accounting standards and usage of EZLease (printed manual with 50-lease or greater edition). Free (toll call) technical support, for both program usage and lease accounting assistance, as well as program updates, are provided for one full year after purchase. Ongoing support contracts are available.
EZLease is designed to provide lease accounting for most common lessee or lessor needs. If you have more specialized needs, contact us for a customization quote.
We are Proud to Offer a 100% Risk-Free Guarantee:
Try EZLease for 30 days. If not completely satisfied, uninstall and return the manual for a full refund.
Not only is the EZLease Software Easy and Effective, It's a Proven Solution:
Financial Computer Systems has specialized in lease accounting software for over 40 years.
Hundreds of companies with hundreds of thousands of leases have trusted FCS for their lease accounting needs.
Users of EZLease include:
National and regional retail chains
National and regional restaurant chains
Cable and telecommunications providers
Real estate management firms
Company sizes range from solo CPAs to Fortune 500 corporations,
ranging up to 50,000 leases
References available on request
Try it Free and Experience the Power of EZLease