Why spreadsheets fail at lease accounting
Most finance teams manage lease accounting in Excel. Modifications break formulas. Audit trail gaps create compliance risk. As lease portfolios grow, manual processes can't keep up.
What Lease Accounting makes possible
Prophix One Lease Accounting automates automates the lease process from contract entry to financial statement disclosure. Modifications recalculate automatically. Audit trail is built in. Calculations are transparent and auditor-validated. Close happens faster
Calculate and Comply
Daily calculation engine automatically computes right-of-use assets and lease liabilities under IFRS 16, ASC 842, FRS 102, GASB 87, and GASB 96. Generate journals and disclosure reports with one click. Handle modifications with automatic recalculation across all affected periods. Transparent present value calculations show discount rates and assumptions auditors can validate. Multi-entity and multi-currency support with automated foreign exchange calculations.
Modify and Recalculate
Track every lease modification (rent increases, term extensions, scope changes) with automatic recalculation of ROU assets, lease liabilities, and journal entries. Complete modification history preserved with user, date, and reason. Operating vs finance lease classification handled automatically under ASC 842. Remeasurement events trigger automatic updates. Bulk modification tools for portfolio-wide changes like index-linked rent adjustments.
Audit and Defend
Complete audit trail tracking every change to lease terms, calculations, and assumptions with user name, timestamp, and reason. Supporting documents stored at contract level. Transparent calculations show present value methodology so auditors can validate results without asking you to explain spreadsheet formulas. Embedded compliance checks flag missing data before close. One-click close package generation with all supporting documentation.
Lease accounting software that grows with your business
From 1 lease to 10,000+, Prophix One Lease Accounting handles your entire portfolio on one platform. Start with a free trial. Scale to enterprise complexity without switching tools.
Finance teams trust Prophix for lease accounting compliance
Organizations from small businesses to global enterprises using Prophix One Lease Accounting close faster, audit with confidence, and eliminate manual spreadsheet rework.
Eliminated manual calculation errors
"I love the simplicity and having everything calculated for me. Helps eliminate human error with computing manually. Very happy thus far." - CFO, Vital4
ASC 842 compliance with a click
Lease accounting reporting "mirrors a set of financial statements, and all the numbers are clearly tied back to the journal report." ASC 842 compliance "handled with a click of the mouse." - Silver State Schools Credit Union
Seamless transition with custom support
"Cradle has been a joy to work with. They have no red tape and our queries are dealt with promptly and efficiently. They were able to make custom enhancements with ease and have been very helpful and instrumental in our success for transition. Would highly recommend." - Frank P., Senior Accountant, Exco Technologies
Additional Resources
