Axxerion lease administration and lease accounting fully supports the new FASB-IASB lease accounting procedures and standards. Although these standards are not required yet, Axxerion can help our clients get ready and transition at any time when they are ready over the next few year. Axxerion can capitalize the Finance and Operating leases and generate the capitalization schedules. The capitalization schedules are posted in Axxerion accounting system or can be sent to the client’s accounting system.
New and upcoming FASB-IASB Lease Accounting
Axxerion development team regularly monitors and researches developments related to lease accounting and FASB-IASB standards. This has helped us to be ready for FASB-IASB lease accounting requirements. Axxerion makes compliance with the FASB-IASB standards very easy. You enter the required information and with a couple of clicks Axxerion does all the rest. Lease capitalization is completed, schedules are generated and lease financial data is posted to the general ledger or alternatively sent to the clients separate accounting system.
Current FASB Lease Accounting
Axxerion complies with the current FASB-IASB guidelines for straighline rent and deferred amounts. Axxerion straightline rent report can be easily generated on a monthly schedule or on demand and be automatically forwarded to the authorized recipients or client’s accounting system. You can recalculate the straightline rent report based on any event such as renewal, TI improvements or other changes.