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2021-01-26
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2025-02-28
Separate Spreadsheet Lease Feature
The Separate Spreadsheet Lease feature enhances your leasing management experience by providing a dedicated space for each lease agreement. This feature streamlines tracking and organizing your leases, making it easier for you to stay on top of your obligations and deadlines.
Key Features
Dedicated spreadsheets for each lease agreement
User-friendly interface for easy navigation
Automatic calculations of important dates and payments
Customizable templates for diverse leasing scenarios
Secure cloud storage for easy access from anywhere
Potential Use Cases and Benefits
Manage residential leases for multiple properties efficiently
Track commercial lease agreements seamlessly
Monitor lease renewals and expiration dates proactively
Simplify documentation and record-keeping tasks
Enhance collaboration between team members involved in leasing
By implementing the Separate Spreadsheet Lease feature, you can resolve common challenges related to lease management. It reduces the risk of missing important deadlines, helps maintain organized records, and provides a clear overview of all lease agreements. Ultimately, this feature enables you to focus on what matters most while ensuring your leasing processes run smoothly.
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What is an embedded lease?
Simply put, embedded leases are components within contracts that entail the use of a particular asset, where the user has control over that asset. You might be surprised at some types of contracts that often contain embedded leases, even though the contract may not contain the word lease.
Does a contract contain a lease?
A contract is, or contains, a lease if it conveys the right to control the use of a specified asset (e.g., plant, property, and equipment) over a period in exchange for consideration. It is not uncommon for service contracts to convey to the customer the right to use a specified asset during the contract term.
Is a service contract a lease?
Leases versus services The Standard distinguishes between a lease and a contract for services. A lease transfers control over, some aspects of, an asset to the customer. In a service contract the supplier uses the asset to deliver the service, and retains control of that asset.
What criteria are used to determine if a contract contains a lease?
Determining if a contract contains a lease In order to determine whether a customer has the right to control the use of the specified asset, for a period of time, the customer determines that it has both: The right to obtain substantially all the economic benefits from the use of the asset, and.
What are embedded leases?
Simply put, embedded leases are components within contracts that entail the use of a particular asset, where the user has control over that asset. You might be surprised at some types of contracts that often contain embedded leases, even though the contract may not contain the word lease.
What is an identified asset in a lease?
In a lease agreement, the identified asset is the piece of property-for example, an automobile, a floor of an office building, or a bulldozer-that is included in the lease. The control also known as right to uses what is being conveyed in the arrangement.
What is a lease ASC 842?
ASC 842 provides the requirements of financial accounting and reporting for lessees and lessors and comprises five Subtopics (Overall, Lessee, Lessor, Sale and Leaseback Transactions, and Leveraged Leases Arrangements). Below is an overview of each Subtopic.
What does ASC 842 do?
ASC 842-30 specifies the proper accounting by lessors of leases classified as sales-type leases, direct financing leases, or operating leases. For sales-type and direct financing leases, the lessor should recognize the underlying asset and recognize or defer additional profits and expenses associated with the lease.
Is software a lease under ASC 842?
The fact that the contract is perpetual means that it is not for a specific period of time, and, therefore, the right does not meet the definition of a lease. Careful consideration should be given when evaluating land easements under ASC 842 as terms and conditions may vary greatly between agreements.
What is a lease modification?
A lease modification is a change in the scope of a lease, or the consideration for. A lease, that was not part of its original terms and conditions. Common lease. Modifications include, for example: increasing the scope of the lease by adding the right to use one or more.
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