Hidden Costs of Lease Accounting Spreadsheets
Learn what your spreadsheets cannot do
Leases have always been difficult to manage, but the new complexity of lease accounting has made them even more so, and rendered the primary traditional method of keeping track of them – spreadsheets – even more risky. For all their familiarity, spreadsheets’ potential for logic flaws, formula errors, accounting weaknesses and audit gaps make them a dangerous choice for managing a lease portfolio, and, in the long-run, a potentially more expensive solution than software.
Lease accounting experts from EZLease and CFGI share the top ways lease accounting spreadsheets typically fall short, as well as offering a path forward, including a business case for lease accounting software that can help organizations establish and execute long-term compliance plans.
Marc Villano, CPA