How to Choose the Right Lease Accounting Software

Finding the right lease accounting software isn’t just about ticking a compliance box. It’s about simplifying operations, improving accuracy, and setting your team up for long-term success. Whether you’re transitioning from spreadsheets or switching from outdated software, here’s what to consider.

1. Start with Your Needs

Every company’s lease portfolio is different. Are you managing five leases or five hundred? Are they embedded in real estate, equipment, or both? Make sure the platform you choose can scale with your portfolio and align with your industry’s specific requirements.

Key questions to ask:

• Do you need ASC 842, IFRS 16, or GASB 87 compliance?
• Do you need both lease accounting and lease management tools?
• Does your team need SSO, audit trails, or role-based permissions?

2. Prioritize Usability

A powerful system doesn’t need to be difficult to use. Look for clean interfaces, intuitive workflows, and helpful onboarding resources. If it feels like a legacy system from the 90s, keep looking.

Things to look for:

• User-friendly dashboard with clear reporting tools
• Easy-to-navigate lease import or abstraction process
• Minimal training needed for new users

3. Look for Accuracy and Automation

Manual processes introduce errors. The best platforms automate calculations and critical date alerts, reducing risk and saving time at month-end close.

Checklist:

• Automated journal entries and disclosures
• Support for modifications, terminations, and reassessments
• Notifications for key dates and tasks

4. Consider Integration and Flexibility

You shouldn’t have to overhaul your entire tech stack. Great software fits into your workflow, not the other way around.

Make sure it integrates with:

• Your ERP or accounting platform
• AP systems for invoice sync
• Document storage tools like Dropbox or Google Drive

5. Evaluate Customer Support and Responsiveness

Even the best software is only as good as the team behind it. Responsive support makes a real difference during implementation and audits.

Ask:

• Is there a dedicated customer success manager?
• What’s the average support response time?
• Are there resources for training, documentation, or chat support?

6. Compare Real Costs

Beware of hidden fees, costly add-ons, or expensive implementation timelines. Look for transparent pricing that matches your usage, not bloated pricing tiers built for large enterprises only.

Factors to compare:

• Pricing per lease or user
• Implementation costs
• Add-ons for features like AI or headcount tracking

Why Spacebase?

Spacebase was built with fast-growing companies in mind. Unlike legacy platforms, our software is actually easy to use and trusted by teams like Airbnb, Stripe, and Tarte.

• Choose lease accounting, lease management, or both
• Automate reporting, key date tracking, and journal entries
• Get personalized onboarding and support
• Easily integrate with your accounting systems

Ready to see the difference? Book a demo and discover lease accounting software that won’t slow you down.

Brooke Colglazier

Marketing Manager