ASC 842 Complete Guide (2026): Implementation, Examples, and Software

1. Introduction: Why ASC 842 Still Challenges Accounting Teams in 2026

If you are a Controller, CFO, or Accounting Manager, you already know that ASC 842 is not just a standard to understand—it is a standard to implement correctly, maintain continuously, and defend in an audit.

Years after the effective dates passed, organizations still struggle with the same operational issues: incomplete lease populations, inconsistent discount rates, manual spreadsheet errors that compound every quarter, and audit findings that trigger restatements. The standard itself has not changed much. The challenge is execution.

This guide is not another textbook summary of ASC 842. It is a practical, implementation-focused resource built from real-world experience helping mid-market companies achieve and maintain compliance. You will find:

• A step-by-step implementation checklist you can hand to your team today
• Real journal entry examples for operating leases, finance leases, and modifications
• The most common audit mistakes and how to prevent them
• An honest comparison of Excel vs. lease accounting software
• Industry-specific considerations for healthcare, construction, and mid-market companies

Use the Table of Contents on the left to jump to the section you need most.

2. Who Must Comply with ASC 842

Effective Dates:

Understanding ASC 842 is no longer optional—it is a compliance requirement that affects your balance sheet, financial ratios, loan covenants, and overall financial reporting. For a comprehensive overview, see our Things to Know About ASC 842 Lease Accounting Standard.

3. Key Requirements and Changes from ASC 840

The transition from ASC 840 to ASC 842 introduced fundamental changes that impact how organizations account for leases. Understanding these differences is crucial for successful implementation and ongoing compliance.

Balance Sheet Recognition Requirement

The most significant change under ASC 842 is the requirement for lessees to recognize substantially all leases on the balance sheet. This includes leases previously classified as operating leases under ASC 840, which were historically kept off-balance sheet.

Right-of-Use (ROU) Asset: Represents the lessee’s right to use the underlying asset during the lease term.

Lease Liability: Represents the lessee’s obligation to make lease payments, measured at the present value of future lease payments.

New Definition of a Lease

ASC 842 provides a more detailed definition of what constitutes a lease. A contract contains a lease if it conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Control requires:

1. The right to obtain substantially all economic benefits from use of the asset
2. The right to direct the use of the asset

This expanded definition has significant implications for identifying embedded leases within service contracts.

ASC 840 vs ASC 842: Key Differences

For companies transitioning from the old standard, our Transitioning from ASC 840 to ASC 842 guide provides step-by-step implementation support. To understand the balance sheet impact, review our resource on Balance Sheet Changes Under ASC 842.

4. Lease Classification: Finance vs Operating

Proper lease classification is critical under ASC 842, as it determines how lease expense is recognized on the income statement and how the lease impacts financial metrics. Both finance and operating leases now appear on the balance sheet, but their accounting treatment differs significantly.

The Five Classification Tests

A lease is classified as a finance lease if it meets any one of the following five criteria. If none are met, the lease is classified as an operating lease.

Impact on Financial Statements

Classification Decision Tree

Does the lease transfer ownership by end of term?
├─ YES → Finance Lease
└─ NO → Continue

Does the lessee have a purchase option they're reasonably certain to exercise?
├─ YES → Finance Lease
└─ NO → Continue

Is the lease term ≥75% of asset's economic life?
├─ YES → Finance Lease
└─ NO → Continue

Is the PV of lease payments ≥90% of asset's fair value?
├─ YES → Finance Lease
└─ NO → Continue

Is the asset specialized with no alternative use to lessor?
├─ YES → Finance Lease
└─ NO → Operating Lease

For a comprehensive deep-dive into classification methodology, review our Guide to ASC 842 Lease Classification. To understand the broader implications of different lease types, see our resource on Understanding Lease Classifications.

5. Initial Measurement and Recognition

Accurate initial measurement of lease assets and liabilities is the foundation of ASC 842 compliance. Understanding the components and calculation methodology is essential for proper financial reporting.

Calculating the Lease Liability

The lease liability is measured at the present value of lease payments not yet paid, discounted using either:

1. The rate implicit in the lease (if readily determinable), or
2. The lessee’s incremental borrowing rate (IBR)

What Is Included and Excluded in Lease Payments:

Calculating the Right-of-Use (ROU) Asset

Formula:

ROU Asset = Lease Liability
          + Prepaid Lease Payments
          + Initial Direct Costs
          - Lease Incentives Received

Determining the Discount Rate

The discount rate is one of the most challenging aspects of ASC 842 implementation.

Factors to Consider in IBR Determination:

For most lessees, the rate implicit in the lease is impractical to determine, making the IBR the most commonly used discount rate. Our ASC 842 Relevant Borrowing Rate guide explains when to use each rate. For detailed methodologies, see our resource on Approaches to Determine Incremental Borrowing Rate. Vehicle leases have unique considerations covered in our IBR for Vehicle Leases guide.

6. ASC 842 Journal Entry Examples

Proper journal entry recording is essential for ASC 842 compliance. The entries differ significantly between finance and operating leases, particularly in how expenses are recognized on the income statement.

The following examples use a consistent scenario so you can compare side-by-side:

Scenario: 5-year office lease, annual payments of $50,000 paid at the beginning of each year, IBR = 5%, initial direct costs = $2,000, no lease incentives.

Operating Lease Journal Entries

Step 1: Calculate Present Value of Lease Payments

PV = $50,000 x PV annuity due factor (5 years, 5%)
PV = $50,000 x 4.5460
PV = $227,300

Step 2: Calculate Initial ROU Asset

ROU Asset = $227,300 (lease liability)
          + $2,000 (initial direct costs)
          - $0 (no incentives)
ROU Asset = $229,300

Step 3: Initial Recognition Entry (Day 1)

DR  ROU Asset - Operating          $229,300
    CR  Lease Liability                        $227,300
    CR  Cash (initial direct costs)              $2,000

Step 4: Monthly Subsequent Entry (Month 1)

Total lease payments over 5 years = $250,000. Straight-line annual expense = $50,000. Monthly straight-line expense = $4,167.

DR  Lease Expense                  $4,167
    CR  Lease Liability                          $2,865
    CR  ROU Asset                                $1,302

Key Point: For operating leases, the total expense each period equals the straight-line lease expense. The ROU asset amortization acts as a “plug” to achieve this result.

Finance Lease Journal Entries

Initial Recognition (identical to operating lease):

DR  ROU Asset - Finance            $229,300
    CR  Finance Lease Liability                $227,300
    CR  Cash (initial direct costs)              $2,000

Month 1 Subsequent Entries (two separate expenses):

Interest Expense = $227,300 x (5% / 12) = $947
Amortization     = $229,300 / 60 months  = $3,822

DR  Interest Expense               $947
DR  Amortization Expense           $3,822
    CR  Lease Liability                            $947
    CR  ROU Asset                                $3,822

When Payment is Made:

DR  Lease Liability                $4,167
    CR  Cash                                     $4,167

Key Point: Finance leases recognize two separate expenses (interest + amortization), creating a front-loaded expense pattern with higher total expense in early periods.

Lease Modification Journal Entry

Scenario: After Year 3, the operating lease above is extended by 3 additional years at $52,000/year. The new IBR at the modification date is 6%.

Step 1: Determine remaining liability before modification
Step 2: Calculate new lease liability (5 years x $52,000, discounted at 6%)
Step 3: Record the adjustment

DR  ROU Asset                     $XX,XXX
    CR  Lease Liability                        $XX,XXX
    (Difference between new and old liability)

Step 4: Reassess classification (operating vs. finance)
Step 5: Apply new straight-line expense going forward

Audit Tip: Always document why the modification occurred, the new discount rate used, and whether classification changed. Auditors will request this narrative.

Amortization Schedule Examples

Operating Lease Schedule (First 4 Months):

Finance Lease Schedule (First 4 Months):

See how this works in practice. iLeasePro generates these amortization schedules automatically and exports journal entries directly to your ERP. View a sample amortization schedule.

For comprehensive guidance on journal entries, see our Guide to ASC 842 Journal Entries. For understanding how deferred rent from ASC 840 transitions to ASC 842, review our Deferred Rent Explained resource.

7. Lease Modifications and Remeasurements

Lease terms rarely remain static throughout their duration. Understanding how to account for changes—whether they constitute modifications or trigger remeasurements—is crucial for maintaining compliance.

What Constitutes a Lease Modification?

A lease modification is a change to the terms and conditions of a contract that results in a change in the scope of, or consideration for, a lease. This includes:

• Adding or terminating the right to use one or more underlying assets
• Extending or shortening the contractual lease term
• Changes to lease payments not originally included in the lease terms

Modification vs. Remeasurement

Lease Modification: A change to the lease contract that requires remeasurement and potentially reclassification.

Remeasurement (without modification): A change in circumstances that triggers reassessment of lease liability using updated assumptions, without contract modification. Examples include:

• Change in lease term due to exercise of an option (when originally not included)
• Change in amounts expected to be paid under residual value guarantee
• Change in assessment of purchase option exercise
• Resolution of contingent events that affect variable payments

Accounting for Modifications

Operating Lease Modifications:

1. Remeasure the lease liability using the updated discount rate
2. Adjust the ROU asset by the change in lease liability
3. Prospectively apply the straight-line expense pattern

Finance Lease Modifications:

• If modification grants additional right of use: Treat as a new lease separate from the original
• If modification does not grant additional right of use:
  • Remeasure the lease liability
  • Adjust the ROU asset accordingly
  • Reassess lease classification (could become operating lease)

Modification Scenarios Requiring Attention

• Rent concessions (e.g., negotiated deferrals or abatements)
• Early terminations
• Space reductions or expansions
• Rent increases/decreases
• Exercise of renewal options

Audit Tip: Lease modifications are one of the most common sources of ASC 842 audit findings. Build a process that routes every lease amendment through your accounting team before execution.

For comprehensive guidance on handling modifications and remeasurements, see our detailed resource on Lease Modifications and Remeasurements. For understanding remeasurement triggers specifically, review our guide on ASC 842 Remeasurement Triggers.

8. ASC 842 Disclosure Requirements

ASC 842 significantly expanded the disclosure requirements compared to ASC 840. Lessees must provide both qualitative and quantitative information that enables financial statement users to assess the amount, timing, and uncertainty of cash flows arising from leases.

Quantitative Disclosures

1. Lease Cost Breakdown

• Finance lease cost: Amortization of ROU assets + Interest on lease liabilities
• Operating lease cost
• Short-term lease cost
• Variable lease cost
• Sublease income

2. Maturity Analysis

Undiscounted cash flows on an annual basis for each of the first five years and a total for the remaining years:

Year 1: $50,000
Year 2: $50,000
Year 3: $50,000
Year 4: $50,000
Year 5: $50,000
Thereafter: $100,000
Total undiscounted cash flows: $350,000
Less: Imputed interest: ($52,700)
Present value of lease liabilities: $297,300

3. Weighted Average Metrics

• Weighted average remaining lease term (in years) for operating and finance leases
• Weighted average discount rate for operating and finance leases

4. Supplemental Cash Flow Information

• Cash paid for operating leases (operating cash flows)
• Cash paid for finance leases: interest (operating) and principal (financing)
• ROU assets obtained in exchange for new lease liabilities (non-cash)

Qualitative Disclosures

• General description of leasing arrangements (asset types, terms, options)
• Variable lease payment arrangements and key variables
• Options to extend or terminate and how they are reflected in lease term
• Practical expedients elected

Disclosure Checklist

• Lease cost breakdown by component
• Maturity analysis of lease liabilities (undiscounted)
• Weighted average remaining lease term
• Weighted average discount rate
• Supplemental cash flow information
• General description of leasing arrangements
• Variable payment arrangements
• Options and significant judgments
• Practical expedients elected
• Related party lease transactions

For comprehensive disclosure templates, see our ASC 842 Disclosure Guidelines. To understand how lease disclosures fit into overall financial reporting, review our Financial Reporting Overview and Income Statement Impact resources.

9. ASC 842 Implementation Checklist

Whether you are implementing ASC 842 for the first time or remediating a prior implementation, this checklist reflects the process that accounting teams actually follow in practice.

Phase 1: Lease Identification and Scoping

• Inventory all contracts across departments — Leases are often scattered across real estate, IT, operations, and individual business units. Do not rely on a single person’s knowledge
• Identify embedded leases — Review service contracts, IT hosting agreements, and logistics contracts for arrangements that convey the right to control an identified asset. See our Embedded Leases Guide and try the free lease analyzer to evaluate your agreements
• Determine lease vs. service — Apply the ASC 842 definition: does the contract convey the right to control an identified asset?
• Classify short-term leases — Leases with a term of 12 months or less (with no purchase option reasonably certain of exercise) can be excluded from balance sheet recognition. See Short-Term Leases
• Elect practical expedients — Decide which expedients your organization will elect and document the rationale. See Practical Expedients

Phase 2: Data Collection and Abstraction

• Collect all lease documents — Original agreements, amendments, side letters, rent schedules, renewal notices
• Abstract key data points for each lease:
  • Commencement date and lease term
  • Payment amounts, frequency, and escalation schedule
  • Renewal and termination options (and likelihood of exercise)
  • Lease incentives received
  • Initial direct costs
  • Purchase options
  • Residual value guarantees
• Validate data accuracy — Cross-reference abstracted data against source documents before loading into your system

For best practices on data abstraction, see our guide on The Lease Data an Abstract Should Include and Lease Abstraction.

Phase 3: Discount Rate Selection

• Determine if the rate implicit in the lease is readily determinable (it usually is not)
• Calculate the incremental borrowing rate (IBR) for each lease or portfolio of similar leases
• Document your IBR methodology — Auditors will ask for this. Include the base rate source, adjustments for term, collateral, and credit standing
• Consider the risk-free rate election (available to private companies)

See our Approaches to Determine Incremental Borrowing Rate for detailed methodology.

Phase 4: Calculations and Journal Entries

• Calculate lease liability (present value of future lease payments)
• Calculate ROU asset (lease liability + prepaid payments + initial direct costs - incentives)
• Classify each lease as operating or finance using the five-criteria test
• Generate amortization schedules for each lease
• Record initial journal entries
• Reconcile to general ledger

Phase 5: Disclosure Preparation

• Prepare maturity analysis of undiscounted lease liabilities
• Calculate weighted average metrics (remaining term, discount rate)
• Draft qualitative disclosures (lease descriptions, significant judgments, expedients elected)
• Prepare supplemental cash flow disclosures

See ASC 842 Disclosure Guidelines for templates.

Phase 6: Ongoing Compliance

• Establish a process for new leases — Every new contract must be evaluated for lease components
• Track modifications and remeasurements — Route all amendments through accounting
• Monitor critical dates — Renewal deadlines, termination notice periods, escalation dates
• Perform monthly close procedures — Generate journal entries, update schedules, reconcile
• Conduct quarterly portfolio reviews — Catch missed leases, validate assumptions

For ongoing compliance workflows, see our guides on Tracking Lease Details After ASC 842 and ASC 842 Close Process Checklist.

10. Common ASC 842 Mistakes That Trigger Audit Findings

After years of ASC 842 being in effect, auditors have developed clear focus areas. These are the mistakes we see most frequently—and how to prevent them.

Mistake 1: Incorrect ROU Asset Calculation

What goes wrong: Teams forget to include initial direct costs, fail to subtract lease incentives, or double-count prepaid payments. The result is an ROU asset that does not tie to the lease liability on Day 1.

How to prevent it: Use the formula consistently: Lease Liability + Prepaid Payments + Initial Direct Costs - Incentives. Reconcile the ROU asset to the lease liability at commencement for every lease.

Mistake 2: Missing Embedded Leases

What goes wrong: IT service contracts with dedicated servers, logistics contracts with dedicated vehicles, and co-location agreements are common sources of embedded leases that never make it into the lease population.

How to prevent it: Conduct an annual contract review across IT, operations, facilities, and procurement. Apply the three-part embedded lease test: Is there an identified asset? Does the customer obtain substantially all economic benefits? Does the customer direct use? Use our free lease analyzer to evaluate contracts, and see our detailed guide on Identifying Embedded Leases.

Mistake 3: Wrong Discount Rate

What goes wrong: Organizations use a single “corporate borrowing rate” for all leases regardless of term, collateral, or currency. Or they never update the IBR for new leases even as market rates change.

How to prevent it: The IBR should be lease-specific (or portfolio-specific for similar leases). Document the rate, the methodology, and the date it was determined. Update for new leases and modifications based on current market conditions.

Audit Tip: Auditors often test IBR reasonableness by comparing your rate to observable market data. If your rate is significantly below market, expect questions.

Mistake 4: Lease Modification Errors

What goes wrong: Teams record modifications as new leases instead of remeasurements, use the original discount rate instead of the current rate, or fail to reassess classification after a modification.

How to prevent it: Follow the modification decision tree: Does the modification grant an additional right of use that was not part of the original lease? If yes, it may be a separate lease. If no, remeasure the existing lease using the current IBR. Always reassess classification. See Lease Modifications and Remeasurements.

Mistake 5: Incomplete Lease Population

What goes wrong: Leases managed by departments outside of accounting (IT, facilities, operations, individual business units) are never reported to the accounting team.

How to prevent it: Centralize lease management. Establish a policy that all new contracts must be reviewed by accounting for lease components before execution. Conduct at least one annual lease inventory sweep.

Mistake 6: Inadequate Documentation

What goes wrong: Judgments about lease term (will the renewal option be exercised?), discount rate methodology, and classification rationale are not documented. When auditors ask, the team cannot explain why decisions were made.

How to prevent it: For every lease, document: classification rationale, discount rate and methodology, lease term determination (including option assessment), and any practical expedients applied. See our ASC 842 Management Assertions guide.

For a comprehensive audit preparation resource, review our guides on Passing ASC 842 Audits, ASC 842 Audit Readiness Checklist, and ASC 842 Pre-Audit Self-Assessment.

11. Excel vs. Lease Accounting Software: An Honest Comparison

Many organizations started their ASC 842 journey in Excel. For a handful of simple leases, spreadsheets can work. But as portfolios grow and auditors dig deeper, the limitations become costly.

Side-by-Side Comparison

When Excel Is Still Acceptable

• You have fewer than 5 simple, fixed-payment operating leases
• No modifications are expected during the lease term
• Your auditor is comfortable with your spreadsheet controls
• You have a dedicated person maintaining the workbook

When You Should Move to Software

• Your portfolio exceeds 10-15 leases
• You have lease modifications, remeasurements, or variable payments
• Month-end close takes more than a few hours for lease accounting
• Your auditor has flagged spreadsheet risk or issued findings
• You are spending significant audit fees on lease-related testing

The Hidden Cost of Spreadsheets

The direct cost of lease accounting software is visible. The cost of spreadsheet errors is not—until audit season.

Common hidden costs include:

• Audit surcharges for increased substantive testing on spreadsheet-based lease schedules
• Restatement costs when formula errors are discovered after financial statements are issued
• Opportunity cost of senior accountants spending days on manual calculations instead of analysis
• Staff turnover risk when the one person who built the spreadsheet leaves

Ready to see the difference? Try entering a lease in iLeasePro and compare the experience to your current process.

For a deeper dive into why spreadsheets create risk, see our article on Why You Should Not Use Spreadsheets to Manage Your Leases.

12. Industry-Specific ASC 842 Considerations

While ASC 842 applies uniformly, certain industries face unique challenges that require tailored approaches.

Healthcare

Healthcare organizations often manage a complex mix of lease types:

• Medical equipment leases with maintenance components that must be separated (or combined using the practical expedient)
• Real estate across multiple clinical locations with frequent expansions, contractions, and relocations
• Embedded leases in radiology, lab, and imaging contracts where dedicated equipment is provided as part of a service agreement — the lease analyzer can help identify these
• Short lease terms with frequent renewals that require ongoing assessment of whether renewal is “reasonably certain”

Practical tip: Healthcare entities should pay special attention to the non-lease component separation decision. Electing the practical expedient to combine lease and non-lease components simplifies accounting but increases the lease liability on the balance sheet.

Construction and Real Estate

Construction and real estate companies face ASC 842 challenges specific to their operating model:

• Heavy equipment leases with seasonal or project-based terms that may qualify for short-term exclusion
• Land and building leases that often meet finance lease criteria due to long terms relative to economic life
• Related-party leases common in construction (owner leases property to their operating company) that require separate disclosure
• Variable rent tied to revenue or production that creates complexity in measurement and disclosure

For construction-specific guidance, see our guide on Navigating ASC 842 for the Construction Industry.

Mid-Market Companies

Mid-market organizations (typically private companies with 20-500 leases) face a specific set of challenges:

• Limited accounting staff means ASC 842 compliance competes with other close responsibilities
• No dedicated lease accounting team, so knowledge is concentrated in one or two people
• Private company practical expedients (risk-free rate, combined disclosures) can simplify compliance but require careful election decisions
• Growing lease portfolios from expansion, acquisitions, or new locations can quickly outpace spreadsheet-based processes

Practical tip: Mid-market companies benefit most from lease accounting software that offers rapid implementation, unlimited users, and does not require dedicated IT support. The goal is to get ASC 842 off the critical path of your monthly close.

13. Ongoing Compliance Challenges and Solutions

ASC 842 compliance is not a one-time project. These are the operational challenges that persist after initial implementation.

Challenge 1: Data Collection and Lease Population Completeness

The Problem: Leases are scattered across departments, stored in various formats, or embedded within service contracts.

Common Gaps:

• Equipment leases managed by IT or operations
• Vehicle leases managed by individual business units
• Real estate leases for satellite offices or storage facilities
• Copier, printer, and office equipment leases

Solutions:

• Conduct a comprehensive lease inventory across all departments at least annually
• Review vendor contracts for embedded lease arrangements
• Implement centralized lease management processes
• Use lease accounting software with document management capabilities

Challenge 2: Determining the Incremental Borrowing Rate

The Problem: Most lessees cannot determine the rate implicit in the lease, requiring them to calculate their IBR. This is especially challenging for private companies without credit ratings and organizations with diverse portfolios.

Best Practices:

• Start with a base borrowing rate (e.g., recent loan rate, credit-adjusted risk-free rate)
• Adjust for lease-specific factors (term, collateral, economic environment)
• Document your methodology thoroughly for audit purposes
• Consider using a portfolio approach for similar leases
• Update IBR for new leases based on current market conditions

For detailed IBR guidance, see Changes in ASC 842: Is the Use of IBR Enough? and Would a Specific IBR Be Better?.

Challenge 3: Practical Expedient Selection

Available Practical Expedients:

Package of Three (Transition):

• No reassessment of whether expired/existing contracts contain leases
• No reassessment of lease classification
• No reassessment of initial direct costs

Hindsight: Use hindsight in determining lease term and impairment

Short-Term Lease Exemption: Exclude leases of 12 months or less from balance sheet recognition

Non-Lease Component Separation: Elect not to separate lease and non-lease components (by asset class)

Private Company Options: Use risk-free rate instead of IBR as discount rate

For detailed guidance, see Short-Term Leases, Practical Expedients, and Modified Retrospective Approach.

Challenge 4: Audit Preparedness

Auditors scrutinize lease accounting more closely than ever. Common audit findings include:

• Incomplete lease populations
• Inappropriate discount rates
• Incorrect classification
• Missing or inadequate disclosures
• Lack of supporting documentation

Audit Preparation Best Practices:

• Maintain complete lease files with all amendments
• Document all significant judgments (lease term, discount rate, classification)
• Reconcile lease liability to general ledger monthly
• Prepare disclosure reports in advance
• Implement strong internal controls over lease processes

For audit preparation resources, see Passing ASC 842 Audits, Navigating Lease Audits, and ASC 842 Substantive Testing.

14. Simplify ASC 842 with Lease Intelligence

While ASC 842 compliance is achievable manually for very small lease portfolios, the complexity, ongoing requirements, and audit risk make specialized lease accounting software essential for most organizations.

How Lease Accounting Software Helps

Automated Calculations

• Lease liability present value calculations using effective interest method
• ROU asset initial and subsequent measurement
• Amortization schedule generation for all leases
• Automatic recalculation for modifications and remeasurements

Pre-Built Journal Entries

• Automatically generated monthly journal entries
• Separate entries for operating vs. finance leases
• Direct export to ERP systems (QuickBooks, Sage Intacct, NetSuite, Acumatica, and more)

Disclosure Report Generation

• 50+ standard reports covering all required ASC 842 disclosures
• Maturity analysis tables, weighted average calculations, and lease cost breakdowns

Modification and Remeasurement Tracking

• Guided workflows for recording lease changes
• Automatic recalculation of impacted schedules
• Full audit trail of every change

Critical Date Management

• Automated alerts for renewal options, termination deadlines, and escalation dates
• Payment due date tracking

iLeasePro: The Lease Intelligence Platform

iLeasePro is purpose-built to transform lease accounting from a compliance burden into a strategic advantage.

SOC 1 Type 2 Certified — Institutional-grade security and controls for your financial data

Rapid Implementation — Go live in less than one week with guided onboarding

Unlimited Users — No per-user fees; give access to your entire accounting team

Comprehensive Reporting — 50+ pre-built reports covering all ASC 842 requirements

Expert Support — Dedicated support team with lease accounting expertise

Lease Abstraction Services — Professional lease data extraction and migration services available

For a detailed look at iLeasePro’s capabilities, explore our Features Overview. To understand pricing options, visit our Pricing Page. For implementation details, review our Implementation Process.