ASC 842, IFRS 16, GASB 87, and FRS 102 compliance, automated from the contract up. Trullion reads your lease contracts, helps you account for every modification, and produces journal entries and disclosure reports that trace back to the source document.
Upload your PDF or Excel lease contracts with a single click.
Trullion uses OCR to extract key lease data from source documents, including names, dates, payment terms, and other relevant contract details.
Trace each step with audit logs that verify and track changes all the way back to the contract, for internal and external stakeholders.
Account for lease modifications in real time and at scale, without any added work for your team.
Generate 100% auditable journal entries and disclosure reports. Your source data is always just a click away.
Lease accounting software calculates and records leases under standards like ASC 842, IFRS 16, GASB 87, and FRS 102. It builds lease schedules, generates journal entries, and produces the required disclosures.
Spreadsheets worked when most leases stayed off the balance sheet. Under ASC 842 and IFRS 16, each lease needs a present value calculation, and every modification or termination triggers a remeasurement. At scale, doing that by hand invites errors that auditors find.
It differs from lease administration software, which tracks operational details like critical dates and renewal notices for real estate teams. Lease accounting software handles the accounting itself for finance and audit teams. Trullion extracts data from contracts with AI and ties every calculation back to the source document.
Lease accounting software that keeps up with the latest standards
ASC 842 is the US GAAP lease standard. Trullion applies your judgments to calculate lease schedules and produces the journal entries and disclosures ASC 842 requires, with every figure traceable to the contract. Read the ASC 842 summary
IFRS 16 is the international lease standard. Multinational companies often report under both IFRS 16 and ASC 842, which means two sets of calculations for the same lease. Trullion supports both standards, so teams can manage dual reporting from a single contract record. Read the complete guide to IFRS 16
GASB 87 is the lease standard for US state and local governments and other public-sector entities. Trullion supports GASB 87, so public-sector finance teams can extract lease data from contracts, calculate schedules, and produce journal entries and disclosures with a clear audit trail. Read the GASB 87 guide
FRS 102 is the main financial reporting standard under UK GAAP. Trullion supports FRS 102 alongside ASC 842 and IFRS 16. Read the FRS 102 guide
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Deliver accurate financial statements by validating details against source documents, reducing errors, and increasing confidence in your reports.
Bring your audit team together on one platform with real-time collaboration, shareable templates, centralized data, and robust permissions.
Instantly convert unstructured data into structured Excel formats, simplifying your document handling and audit workflows.
Lease accounting software helps accounting teams manage leases in line with standards like ASC 842, IFRS 16, and GASB 87. It centralizes lease contracts, calculates schedules, generates journal entries, and supports required disclosures. Instead of tracking leases across spreadsheets and documents, teams use one system to keep data accurate, updated, and traceable to source contracts.
It reduces manual work, limits errors, and makes audits and close processes easier to manage. Lease accounting software is helpful for teams navigating differences between lessor and lessee accounting and managing requirements across multiple standards.
The best lease accounting software depends on your accounting workflows and compliance requirements. Teams often compare solutions based on how they handle ASC 842 versus IFRS 16 requirements.
Trullion is the best lease accounting software for teams managing complex or changing lease portfolios because it ties calculations and reports directly back to source documents, supports ongoing modifications, and keeps outputs audit-ready. Its use of AI to extract contract data and maintain traceability reduces manual effort without replacing professional judgment.
The cost of lease accounting software depends on portfolio size, complexity, and required features. Cost is also often tied to how much manual work the software replaces, especially around lease abstraction, modifications, and ongoing compliance.
Pricing often reflects the number of leases, supported standards, and level of automation. While cost matters, the larger consideration is value—specifically, how much time the software saves, how it reduces rework, and how it supports audit readiness. For many teams, replacing manual spreadsheets and simplifying compliance delivers a clear return during close and audit cycles. For more on pricing, be sure to reach out to our team!
Yes. Trullion has a native NetSuite integration that pushes journal entries directly from Trullion to NetSuite, with no manual export or import. For other ERPs and accounting systems, you can export journal entries to Excel or CSV in the format your system expects, using mapping codes that tie each lease to your GL accounts. Lease data comes from your PDF or Excel contracts, so nothing needs to be rekeyed first. To talk through your setup, contact us.
ASC 840 was the previous US GAAP lease standard. Under it, lessees classified leases as capital or operating, and operating leases stayed off the balance sheet, with rent expensed over the lease term and details disclosed in the footnotes. ASC 842 changed this. Lessees now record a right-of-use asset and a lease liability for most leases longer than 12 months, including operating leases. Lessees still classify leases as finance or operating, which affects how expense appears in the income statement, and disclosure requirements are broader. Lessor accounting changed less. For a full walkthrough, read our ASC 842 summary.
Both. Teams with smaller portfolios use Trullion to move leases out of spreadsheets: each lease needs only a few core fields, and a structured onboarding checklist takes you from kickoff call to go-live. Teams with large or complex portfolios use the same platform to handle multiple currencies, frequent modifications, several accounting standards, role-based access, and an audit log that auditors can review. Contact us to see how Trullion fits your portfolio.
Leases are recorded in five steps. First, you upload the contract as a PDF or Excel file, and Trullion’s AI extracts key data such as names, dates, and payment terms. Second, you review the contract’s details and payment stream and set your judgments, including the discount rate and lease type. Third, Trullion produces the accounting calculations from those inputs, including present value and classification. Fourth, you lock the contract. Fifth, you run the Journal Entries and Disclosure reports and send the entries to your ERP. After that, any amendment is recorded as a modification, so the original terms and history stay intact. Learn more about automated lease abstraction.
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