Software Now Mandatory for Lease Accounting

Accountants love electronic spreadsheets – and for good reason. They’re a powerful and versatile personal productivity tool and just about everyone knows how to use them. Spreadsheets are the default software tool for accountants because they enable autonomy (you don’t need to ask IT for anything) and they’re free (so you don’t have to make a business case to authorize buying something). Some accountants humorously (but earnestly) invoke the line “you’ll have to pry this spreadsheet from my cold, dead hands” whenever somebody suggests eliminating them.

There’s no reason to eliminate spreadsheets, but they’re not always the right choice for accountants. It will probably come as a shock to those in the profession but accounting standards have evolved past the point where spreadsheets are a useful tool for managing or supporting finance department processes.

Download to discover:

• Why lease accounting should utilize software instead of spreadsheets
•  How to select the right software to manage leases
• Other challenges to consider when making the switch from manual to software-based accounting