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

 
                                    Company impacted by ransomware.
big problem:
Company impacted by ransomware.
big thinking:
Restore system on-site and avoid six-figure ransom.
 
                                    Inefficient tax credit realization.
big problem:
Inefficient tax credit realization.
big thinking:
Identified a $900,000 tax credit, nearly twice as much as prior years.

our thoughts on

October is Cybersecurity Awareness Month!

Kickoff Cybersecurity Awareness Month with new cybersecurity resources from Schneider Downs.

read more >

President Biden Announces Student Debt Relief Plan

Learn more about President Biden's Student Debt Relief plan announced on Wednesday, August 24, 2022 and related questions and answers.

read more >

Inflation Reduction Act – Tax Provisions Included in Proposed Legislation

Better understand the tax provisions included under the proposed Inflation Reduction Act of 2022.

read more >

United States Deals with Baby Formula Shortage

Read how the Baby Formula Shortage is a reminder to consistently evaluate supply chain risk to your organization, and to have a plan in place to mitigate risk.

read more >

Staying Secure During Vacation Season

Stay cyber safe during vacation season with these tips from the Schneider Downs cybersecurity team.

read more >

contact us