FASB 13 Straight-line Accounting Entries
(Formerly Real Estate Management)
Did you know that PeopleSoft Lease Administration has the capabilities to meet your straight-line accounting requirements? PeopleSoft Lease Administration can help your organization provide more accurate accounting information, reduce errors and reduce processing time.
All you have to do is set up your lease payment schedule and pop over to these guys for the straight-line accounting feature can automatically create your necessary journal entries in compliance with FASB 13. This process can be run with multiple options and tailored to fit your accounting process.
By utilizing the straight-line accounting your Real Estate Department can focus on what it does best – managing the lease portfolio and lease payment schedules. Your Finance Team will automatically have the straight-line journal entries they need so they can focus on what they do best – managing the General Ledger. Regardless of the payment schedule length, amounts, concessions, etc., PeopleSoft Lease Administration can automatically calculate the straight-line journal entries you will need each month and automatically post the straight-line journal entries to your specific GL accounts. All this without requiring any additional effort from either team and delivered within a timely manner.
You are probably saying to yourself, “This CANNOT be true!” Well, I am here to tell you – it IS true and PeopleSoft Lease Administration has made it ALL possible. Click here to contact us today to learn more.
Thank you for reading and be sure to read our other Real Estate Management BLOGS too.
Steven Brenner, CPA
Senior Principal Consultant