EZLease - The Lease Accounting Solution for Lessees and Lessors

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.

 





 

 FULLY COMPLIES WITH ALL LEASE ACCOUNTING STANDARDSDesigned to account for every type of lessee transaction (lessee: the user of a leased asset, who pays rent)

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
 EASY TO USE Requires no expert knowledge of standards; manual describes how to handle various leasing situations

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
 Lessor Edition

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.
 System RequirementsWindows® XP, Vista, 7, 8, or 10 (Desktop)

70 MB hard disk space for installation

Monitor with at least 1024x768 resolution (or higher)
 
Browse Below to Learn More about EZLease Software Specifications:

Lease Data: 

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

Reporting: 

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

Amortization schedules

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).

(The Lite Edition does not include account numbers, and allows 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

  Construction companies

  State governments

  Manufacturers

  Hospitals

  Banks

  CPAs

 

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