With the first GASB 87 effective date behind us and GASB 96 ahead of us, we’re walking in a GASB wonderland. Just like holiday shopping, it can be stressful to hunt down the perfect GASB resources for your organization. The accounting experts at LeaseQuery have created a list of essential GASB gifts that keep on giving even after compliance.

GASB Government Accounting Overview

To find the perfect GASB gift for your organization, you need to have a grasp of the basics. This article provides a general overview of GASB, including the organizations that report under the standard and the new standards of which to be aware. While you may receive more exciting things to read under your tree, skimming this will help you understand the standards on which to concentrate.

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GASB 87 Lease Accounting Software

If you haven’t managed to find the perfect GASB 87 software solution for your organization, don’t worry! Plenty of time is still available to get LeaseQuery’s GASB 87 accounting software to help ensure compliance and a smooth audit process. This secure, cloud-based solution keeps track of critical dates, making all of your days merry and bright.

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LeaseQuery for GASB 96

Is a software solution for GASB 96 on your wishlist? We have that, too. LeaseQuery for GASB 96 handles the complex capitalization criteria and subsequent accounting for all of your subscription-based IT arrangements as well. It also helps beyond compliance as organizations create future budgets.

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GASB 87 Adoption Kit

Regardless of where your organization is on its adoption journey, LeaseQuery’s GASB 87 Adoption Kit will guide you through the transition process, like Rudolph guiding Santa’s sleigh. The kit is full of resources to help you navigate your first audit under the new standards, as well as set up post-transition technology.

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GASB 87 Transition Checklist

Santa makes his list and checks it twice, and organizations adapting to the new standards should do the same. The GASB 87 Checklist is a great guide for your GASB journey. The shift to GASB 87 comes with a lot of considerations, and it’s easy to miss a step if you aren’t careful. Use this list to assist your transition.

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GASB 87 Lessor Accounting Example with Journal Entries

Assembling your kid’s present without instructions may lead to high frustration levels. Similarly, transitioning to GASB without any guides or examples is a good path to non-compliance. This article provides examples of GASB 87 lessor accounting so you and your organization know exactly what to do.

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GASB 87: Two Examples of How to Transition for Lessees

For lessees, transitioning to GASB 87 doesn’t have to be a Nightmare Before Christmas. This article will walk you through two examples of how to transition, so you can be sure you took all of the right steps for continued compliance.

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Summary

The holiday season is upon us, and the new year calls for new solutions. Once you find the perfect GASB “gift” for your organization, you can start using it in 2022. LeaseQuery is here to help you as you continue on your journey to compliance for GASB 87 and GASB 96. Request a demo to learn more about our software solutions.

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