Lease Accounting in the Close

Recording leases each period and proving the balances at the end of it: the entries themselves, the schedules that support them, and the reconciliation that ties both to the general ledger.

8 articles across 3 groups.

Start here Lease Accounting in the Month-End Close Process

Where leases fit in the close calendar, and what has to tie before you sign off.

Post the entries

Operating vs Finance Lease Accounting: Entries ComparedWhat are the key differences between operating and finance lease journal entries under ASC 842? How do the journal entries for operating leases differ …
Prevent Common Lease Journal Entry Errors | iLeaseProWhat are common ASC 842 lease journal entry errors? How can I prevent lease accounting entry mistakes?

Prove the balances

The two schedules an auditor will ask to see reconciled.

ROU Asset Rollforward Schedule: What It Is and How to BuildHow do I build an audit-ready ROU asset rollforward schedule? What are the key components of an ROU asset rollforward schedule?
Lease Liability Reconciliation: Tie the Schedule to the GLWhat is lease liability reconciliation? How do I reconcile lease liabilities to the general ledger?
Tenant Improvement Allowance Accounting for ASC 842How a tenant improvement allowance changes the lease liability, the right-of-use asset and the year-one journal entries under ASC 842, with one …
Rent Abatement and Rent-Free Period Accounting, ASC 842How a rent-free period written into a lease differs from an abatement granted later under ASC 842, with a 5-year, 3-free-month operating lease …
Rent Concession Types and Their ASC 842 TreatmentWhich rent concessions are lease incentives at commencement, which are lease modifications, and what each one does to the right-of-use asset and the …

Run the close

asc 842 close process: complete monthly | iLeaseProWhat is the monthly closing checklist for ASC 842 lease accounting? How do I perform a monthly ASC 842 close process?

Other topicsAudit Compliance Controls Disclosures Financial Reporting Healthcare Implementation Lean Accounting Lease Abstracting Lease Accounting Lease Analysis Lease Management Press Release Product Updates Regulatory Updates

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