simpLEASE Capabilities

Lease Accounting Software Built by Accountants for Accountants


 

simpLEASE Capabilities

  • Automate the process of inputting the key terms of lease agreements.
  • Calculate present and future values of the asset/liability, generating the necessary amortization schedules.
  • Determine whether it is a finance (capital) lease versus an operating lease.
  • Easily determine if your contract is a lease that needs to be capitalized.
  • Generate standard reports, such as lease listing, amortization schedules, roll-forward of liability balance and future payment schedules for operating leases.
  • Generates amortization schedules for finance and operating leases, in accordance with Lease Accounting Standard Update 2016-02.
  • Guides the user through user-friendly wizards, asking questions to assist with the appropriate treatment of each lease.
  • Helps efficiently manage and inventory finance and operating leases, both new and existing.
  • Includes services to assist with transitioning existing finance and operating leases to the new solution.
  • Interfaces with accounting systems to automate the process of posting requisite journal entries.
  • Interfaces with fixed asset software to automate the process of creating the right-of-use assets (ROU).
  • Manage ongoing lease details, such as changes to existing lease terms, lease terminations, etc.

simpLEASE Resources

 

 

About simpLEASE

Nearly every company or organization utilizes lease contracts as part of its day-to-day operations. (ASC) 842 will dramatically alter how companies identify leases on their annual financial statements. For some organizations, this will mean analyzing hundreds – even thousands – of individual lease contacts – a time-consuming and laborious process.

simpLEASE is a software program that provides easy-to-understand guidance to analyze each individual lease. The program was developed in conjunction with the accountants at Schneider Downs, one of the nation’s 60 largest public accounting firms. Schneider Downs has been tracking and anticipating the changes to lease accounting standards for years, and has worked extensively to understand the specifics and intricacies of the standards. Thus, simpLEASE is not only easy to use, but also serves as an extremely insightful and intuitive tool to provide accurate analysis for all lease computations.

READY TO GET STARTED?

CONTACT US FOR MORE INFORMATION

case studies

 
Let’s discuss preventing ransomware attacks on your company. Email me directly <a href='mailto:twarren@schneiderdowns.com?cc=contactSD@schneiderdowns.com'>here</a>.
big problem:
Let’s discuss preventing ransomware attacks on your company. Email me directly here.
big thinking:
Company impacted by ransomware.
 
Let’s discuss opportunities to reduce your company’s tax burden. Email me directly <a href='mailto:dmorally@schneiderdowns.com?cc=contactSD@schneiderdowns.com'>here</a>.
big problem:
Let’s discuss opportunities to reduce your company’s tax burden. Email me directly here.
big thinking:
Inefficient tax credit realization.

our thoughts on

What’s the Difference Between SOC 1 and SOC 2 Reports?

Learn about the differences and similarities between SOC 1 and SOC 2 reports.

read more >

Thinking About Selling Your Business? Here Is Your Checklist to Get Prepared

Review the checklist to ensure you maximize the overall results if you are thinking about selling your business.

read more >

Ransomware Attack Shuts Down Major U.S. Pipeline Operator

Learn about the Colonial Pipeline cyber-attack, one of the largest ransomware attacks in American infrastructure history.

read more >

The American Families Plan – Proposed $1.8 Trillion Spending and Tax Plan

Learn more about the American Families Plan, a $1.8 trillion spending proposal envisioned to further boost the economy proposed to congress on April 28, 2021.

read more >

Introduction to The American Jobs Plan and The Made in America Tax Plan

Learn more about the newly proposed American Jobs Plan, a $2.3 trillion infrastructure spending plan for the next decade announced during a presentation in Pittsburgh.

read more >

contact us

Map of Pittsburgh Office
Pittsburgh

One PPG Place, Suite 1700
Pittsburgh, PA 15222

[email protected]
p: 412.261.3644     f: 412.261.4876

Map of Columbus Office
Columbus

65 East State Street, Suite 2000
Columbus, OH 43215

[email protected]
p: 614.621.4060     f: 614.621.4062

Map of DC Office
Washington, D.C.

1660 International Drive
McLean, VA 22102

[email protected]
p: 571.380.9003