‎Automate ASC 842 Compliance

Streamline ASC 842 compliance with Trullion’s AI-powered accounting software

 

lease agreement

ASC 842 Compliance Challenges

With the new lease accounting standard ASC 842 requiring that all leases move on-balance sheet, organizations across all industries are feeling the impact. 

With ASC 842, Accounting Teams are now tasked with collecting incentives and allowances, tracking options and making judgements involving capital lease testing, interest rates, future assumptions around lease performance, and more. 

Dealing with manual data entry, spreadsheets, and PDFs cost Accounting Teams valuable time and puts them at risk for critical errors. Efforts to streamline these processes often create more siloes than before, while regulatory environments are becoming increasingly more challenging. 

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Automation Can Change Your Life: Accelerate Your ASC 842 Compliance With Trullion’s Lease Accounting Software (In 30 Days Or Less!)

Your most precious resource is your time. Trullion automates ASC 842 workflows to ensure compliance, eliminate error and streamline operations in a fraction of the time it would take without Trullion’s game-changing lease accounting software in place. 

Using the latest AI-enhanced technology, the Trullion platform automatically extracts data from source documents such as Excel files and PDFs, simplifies journal entries, and creates a clear audit trail that’s accessible to both your internal team and external auditors.

Developed by a team of experienced CPAs and leading product experts with decades of experience, Trullion unifies the unstructured and structured worlds of business finance by using AI to read and understand leases and sales agreements in any format – and translating them into a live 360° data image of your transactional workflow. Trullion establishes a universal language to allow companies to quantify the value of their business, and empowers Accounting Leaders to trust their financial data. 

With Trullion’s AI-powered lease accounting software you can: 

  • Seamlessly meet ASC 842 compliance requirements 
  • Accelerate your ASC 842 adoption timeline
  • Produce 100% accurate and consolidated reports in minutes
  • Effortlessly trace your audit trail back to the source data
  • Access simple reports and clear financial schedules 

 

Features and Benefits

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AI-Powered Data Entry

Simply and automatically extract key data points directly from PDF contracts and Excel files to generate the necessary ASC 842 reports with just one click journal entries, full disclosure reports, and other business intelligence.

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Intuitive, Easy to Use UI

Navigate seamlessly through our modern, clean, and easy-to-use interface, built for financial leaders.

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Automated Bulk Upload & Modification Detection

Upload any Excel file and the software can detect new, changed and modified leases.

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Streamline ASC 842 Compliance

Automate ASC 842 workflows to generate 100% auditable journal entries and disclosures. Get compliant in 30 days or less.

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ERP Entries & Dynamic Reporting

Leverage our modern user experience to generate ERP-ready journal entries, full disclosure reports, and other business intelligence.

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SOC 1 & SOC 2 Audited 

Backed by SOC reports by Big 4 audit firms and stored in the most secure cloud environment.

ASC 842 Lease Accounting Software Implementation

Implementing ASC 842 accounting software should require minimal time and effort on your part. With Trullion, you can achieve ASC 842 compliance in just 30 days or less, without heavy involvement from your IT department and no costly implementations between ERP systems. Our team of experts will get you on-boarded onto our system in no time, and once you get started, we are available to help with any request or need. 

 

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“The biggest benefit of Trullion is it lets us have all our leases in one centralized place, and analyze them automatically. It’s particularly useful for audits because you can go from financial entries directly to the right place in the original contract”

Senior Accountant, U.S. Energy Company

Elevate Your Accounting Workflows

Starting with Lease Accounting