Healthcare Lease Accounting Software Solution

FASB ASC 842 and IFRS 16 compliance made simple

Healthcare Lease Accounting Software Solution

FASB ASC 842 and IFRS 16 compliance made simple

Why Healthcare Companies Should be Concerned

In healthcare, leases can range from beds to equipment – and the risk of non-compliance is high.

Find out what you need to do with this step-by-step guidance.

Why Healthcare Companies Should be Concerned

In healthcare, leases can range from beds to equipment – and the risk of non-compliance is high.

Find out what you need to do with this step-by-step guidance.

We Ensure You Comply Fully with FASB ASC 842 & IFRS 16

What You Need to Know About FASB ASC 842 and IFRS 16

Showing the full extent of your lease obligations is essential to complying with the new standards. Instead of recording your leases in the footnotes of your financial statements, they need to go on your balance sheet as a liability.
Showing the full extent of your lease obligations is essential to complying with the new standards. Instead of recording your leases in the footnotes of your financial statements, they need to go on your balance sheet as a liability.
You may need to capitalize leases that were previously classified as operating leases. And your service, maintenance, and outsourcing contracts may contain embedded leases that you need to record.
You need to choose the right solutions – in terms of expertise and software – to prevent errors.
You need to choose the right solutions – in terms of expertise and software – to prevent errors.

Ask the Right Questions

FASB ASC 842 and IFRS 16 obligate you to scrutinize all your leases to ensure you address them properly. That process starts with asking the right questions.

Are your equipment leases based on usage? Have you included the base rate as your fixed consideration?
Do you operate clinics in drug stores? Have you examined that contract to determine if it contains an embedded lease?
Does your facility lease include parking spaces allotted only for your business? If so, have you allocated for those as part of your lease accounting?
 

LeaseQuery helps you answer these questions.

Choose the Right Solution for Compliance

Manageable lease accounting with LeaseQuery

No matter how complex the nuances of your leases are, LeaseQuery enables you to account for and manage them with ease.  

 

  • Expert advisement: Rely on our lease accountants for support every step of the way.
  • At a glance: See critical dates, journal entries, tasks, and reports quickly.
  • Reports and disclosures: Get the documentation required by regulators and auditors in just a few clicks.
  • Data security: Enjoy peace of mind that your data is safe – we adhere to industry standard encryption protocols and our SOC testing is being performed by a Big Four firm.
  • Integrations: Connect and integrate our software with your ERP or general ledger software.

LeaseQuery Ensures You Comply—
in January 2019 and Beyond

LeaseQuery offers you the functionality, flexibility, and expertise that enables you to adequately account for all your leases under FASB 842. From the moment you start implementation, you’ll be supported by accountants who specialize in lease accounting.

Our Clients Explain Our Lease Accounting Solutions Best

"It took a time-sucking, life-sucking process and turned it into the click of a button"

Trista — Controller at National Healthcare Organization

"LeaseQuery is years ahead of our external auditors in terms of lease knowledge and financial reporting, saving our company time, money, and resources."

Sarah M. - Tupelo Honey Hospitality Corporation

"We are able to instantly pull up all of the details on any given lease with only a couple of clicks. "

Missy W. - Scotland Wright Associates

 

"The time and productivity savings cannot even be put into words for a team with such stretched bandwidth like ours."

Trista L. – PT Solutions

 

"This is a breath of fresh air for an occupation that’s usually treated with bored stares, long sighs and slow blinks...I was actually liking lease accounting for the first time in eight years."

Anna K. – Publicly Traded Insurance Company

 

Talk to One of Our Expert Lease Accountants Today.

Unlike other software vendors, we aren't former real estate professionals trying to learn accounting on your dime. We're accountants just like you.

Sign up for a demo today and let us prove it.