Visual Lease for Lease Accountants
Centralized lease management, compliance, and reporting for ASC 842 and IFRS 16.
Deep Context
Visual Lease is a cloud-based lease accounting and management solution.
Executive Summary
Visual Lease centralizes lease data, automates critical accounting processes, ensures compliance with ASC 842 and IFRS 16, and provides robust reporting capabilities for lease accountants. It streamlines workflows, reduces errors, and enhances visibility into lease portfolios.
Perfect For
- Lease accountants
- Accounting managers
- Controllers
- CFOs
- Auditors
Not Recommended For
- Individuals managing a small number of residential leases
- Companies with very basic lease tracking needs
- Businesses unwilling to adopt cloud-based solutions
The AI Differentiation:
AI-Powered Lease Abstraction
Visual Lease uses AI to automatically extract key data points from lease documents, reducing manual data entry and improving accuracy. Machine learning algorithms continuously improve extraction efficiency.
Enterprise-Grade Features
ASC 842 & IFRS 16 Compliance
Automates calculations, reporting, and disclosures required for lease accounting standards.
Centralized Lease Repository
Provides a single source of truth for all lease-related documents and data, improving data governance.
Automated Lease Accounting
Streamlines journal entry creation, amortization schedules, and balance sheet reconciliations.
Customizable Reporting & Analytics
Generates comprehensive reports on lease liabilities, expenses, and key lease terms for informed decision-making.
Workflow Automation
Automates lease approval workflows, notifications, and critical date reminders.
Pricing & Logistics
Professional Integrity
Core Strengths
- Comprehensive compliance features
- Strong reporting capabilities
- User-friendly interface
- Robust AI-powered lease abstraction
Known Constraints
- Can be expensive for smaller organizations
- Implementation can be complex
- Requires user training for optimal utilization
Industry Alternatives
LeaseQuery
Offers similar lease accounting functionality with a focus on ease of use.
CoStar Real Estate Manager
Provides broader real estate management features in addition to lease accounting.
Trullion
Another cloud-based lease accounting platform that automates ASC 842 and IFRS 16 compliance.
Expert Verdict
Recommended for organizations seeking a comprehensive solution for lease accounting compliance and management.