Lease Accounting Software for GASB 87
GASB 87 compliance is easier than you might think – thanks to Trullion’s AI-powered automated lease accounting software
Just thinking about GASB 87 compliance can leave you with a headache. Find out how lease accounting software can make implementing GASB 87 seamless and hassle-free, not to mention adding many other benefits. Forget the GASB 87-related headaches, errors and compliance risk – and enjoy a seamless, automated solution.
The Challenges of GASB 87 Compliance
New lease accounting standard
GASB 87, the new lease accounting standard issued by the Government Accounting Standards Board (GASB), brings sweeping changes to how public entities account for leases, and affects multiple organizations; from state and local governments to public employee retirement systems, public utilities, many healthcare providers, and colleges. Ensuring compliance is a challenge that grows with each additional lease you have in place.
Relooking at your reports
From office leases to equipment – and even contracts you were unaware had a lease element within them – GASB 87 means completely relooking at how you calculate, account for and report on leases. This now includes recognizing lease assets and liabilities on the balance sheet.
Manual work increases the risk
Manually dealing with leases has not only become inefficient, it also exponentially increases the risk of error and non-compliance, not to mention using up the precious time of you and your team.
In 30 Days Or Less!
Ready To Experience Seamless Automation? Accelerate Your GASB 87 Compliance With Trullion’s Lease Accounting Software
Automates GASB 87 workflows
Your most precious resource is your time. Trullion automates GASB 87 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.
Automatically extract data
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.
AI that reads and understands agreements
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 GASB 87 compliance requirements
- Accelerate your GASB 87 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
From experience, when we tried to do the kind of manual Excel calculations in the beginning, documenting all of that, without Trullion we would have spent at least twice as much time. And then we would have had to prepare such a consolidated disclosure report that we are able to get from Trullion. I’m not sure how many weeks that would have taken us…I would say that it’s at least twice as fast with Trullion”
How HMD Global Accelerated IFRS 16 Compliance with Trullion
Features and Benefits
AI-Powered Data Entry
Simply and automatically extract key data points directly from PDF contracts and Excel files to generate the necessary GASB 87-compliant reports with just one click.
Intuitive, Easy to Use UI
Navigate seamlessly through Trullion’s modern, clean, and easy-to-use interface, built specifically for financial leaders.
Automated Bulk Upload & Modification Detection
Upload any Excel file and the software can detect new, changed and modified leases.
Streamline GASB 87 Compliance
Automate GASB 87 workflows to generate 100% auditable journal entries and disclosures. Get fully compliant in 30 days or less.
ERP Entries & Dynamic Reporting
Leverage Trullion’s modern user experience to generate ERP-ready journal entries, full disclosure reports, and other business intelligence.
SOC 1 & SOC 2 Audited
Backed by SOC reports by Big 4 audit firms and stored in the most secure cloud environment.
Implementing Lease Accounting Software For GASB 87
Implementing GASB 87 accounting software should require minimal time and effort on your part.
With Trullion, you can achieve GASB 87 compliance in just 30 days or less, without heavy involvement from your IT department and no costly integrations between ERP systems.
Trullion’s team of experts will get you onboarded in no time, and once you get started, the Trullion support team is available to help with any request or need.
