The LeaseCrunch™ team is pleased to announce the following updates:
- Cost Center Enhancement. You can now assign multiple cost centers to an expense general ledger account.
- Where is it? When adding or editing a lease, cost centers are now on the GL Accounts tab.
- How does it work? I’m glad you asked. Visit our resources page to view our 1-minute explanation video.
- What about my existing cost centers? If you already assigned a cost center for a lease, that cost center is now on the GL Accounts page for that lease. You can now edit a lease and allocate an expense item across up to nine additional cost centers.
- Audit Trail. For any changes going forward, you will be able to see who edited what data fields and when for each lease.
- Where is it? When viewing or editing a lease, click on Audit Trail in the upper right-hand corner of the screen.
- How does it work? Once again, I’m glad you asked. Visit our resources page to view our 1-minute explanation video.
- Anything else? You can also export the full audit trail for a lease to an Excel spreadsheet for further analysis.
- Bulk Import Template Updated. If you are adding new transition leases to LeaseCrunch™, please be certain to use the latest template now available on the first step of the Bulk Import process.
- Footnote for ASC 842. There are several items in the GAAP footnote disclosure that LeaseCrunch™ does not calculate: short-term lease expense, sublease income, and sale-leaseback gains/losses. For your convenience, these line items remain on the footnote with the clarification that they are purposefully left blank.
We look forward to sharing further enhancements soon.