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Choose what you need, when you need it. Spacebase is modular. You can start with lease accounting, lease administration, or both. Our platform is designed to adapt to your needs.

Lease Accounting

Month-end Close
Journal Entries
Disclosures
Reports

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Lease Administration

Lease Tracking
Document Management
Custom Date Alerts
Reports

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Self-Assessment

Accounting Process Diagnostic Quiz

For each question, select the most appropriate answer regarding the current state of your lease accounting process. We'll calculate your score (1-5 for each section, for a total possible score of 30) to assess your process maturity level.

Reassess quarterly or after major process or system changes.

Centralized Lease Repository

1: Lease-related documents are scattered, no single source of truth, updates to lease accounting happens reactively.

2: Most leases are stored centrally, but completeness varies and intake is informal. Accounting is aware but not always in the loop.

3: Central repository with standardized documents and required fields. Accounting included in regular meetings with access to the repository.

4: System-driven version control, alerts for amendments/renewals, and structured data fields. Accounting is included in the planning and execution process, preparing accounting data in parallel to real estate activity.

5: Full lease administration and accounting lifecycle transparently governed in a shared software system with proactive monitoring and real-time accuracy across teams.

Lease Accounting Policy

1: Practical expedients are unclear, discount rate methodology is handled on a case-by-case basis, and presentation and disclosures are manually prepared.

2: A policy exists, however it may not be consistently applied or accessible, or several versions exist without formal approvals or sign-off.

3: Approved accounting policy is in place, with relatively consistent application across the lease portfolio.

4: The approved lease policy logic is embedded in the software and applied pervasively across the lease portfolio.

5: The lease policy is reviewed periodically by Accounting leadership, with scenario modeling and continuous improvement built into the process, informed by external audit professionals. Teams cross-functionally understand their impact on financial reporting.

Cross-Functional Collaboration Framework

1: Accounting learns about lease executions after the fact, quickly reacting to lease activity.

2: Some coordination between Real Estate and Accounting exists, but some renewals, terminations, or amendments are not communicated and Accounting must react quickly.

3: There is a defined process for handoffs and communication check-points between Real Estate, Accounting, Finance, Legal, and AP and as long as nothing significant occurs, the process seems to work.

4: Workflows are integrated into a software with notifications, audit logs, controls, and accurate information.

5: Fully synchronized life cycle for lease administration and accounting, where decisions are proactive, strategic, and data-driven.

Repeatable Close Process

1: Amortization schedules, journal entries, and roll-forwards are built manually in Excel, where errors are found during the year-end audit.

2: Work is manual, but uploaded into shared Drives, an ERP, or other software, facilitating some sharing of information and documentation of review and approvals. Reconciliations are performed but still manual.

3: There is a documented close checklist where ownership is defined and there are links to the relevant manual work and reconciliations. Variances are investigated and cleared pre-close.

4: An integrated software maintains automated amortization schedules, journal entries, roll-forwards, and disclosures reports. The software is source-of-truth for approvals and audit support.

5: Close is completed quickly with minimal adjustments using integrated software that syncs with the ERP, posting journals and reconciling accounts. Insights and data informs Finance forecasting and planning.

Robust Internal Controls

1: There are no formal internal controls. Roles and responsibilities are unclear. Manual work is mostly reviewed and sometimes signed-off on, but lacks completeness and accuracy.

2: Basic controls exist but are not consistently applied. Manual work is saved in a shared Drive and approvals are documented, but there are version control issues and it's difficult to obtain or deliver strong audit support.

3: Controls are designed with segregation of duties, documented workflows, and periodic control testing in place.

4: System-enforced access controls, approval requirements, and audit trails exist with alerts for failures or exceptions. Reports are generated from the system on demand and used as audit support with assertions over completeness.

5: Control performance metrics drive continuous monitoring and improvement, and the organization is SOX compliant.

Technology Enablement

1: Manual work is performed in spreadsheets using data from emails, instant messages, or various Drives.

2: Lease data is stored in one shared Drive but work is still manually performed in spreadsheets.

3: Lease software supports calculations and reporting, but has limited automation capabilities and does not integrate with the lease administration activity or ERP.

4: Software for lease administration and lease accounting integrates with a chosen ERP, with system-driven calculations for modifications, renewals, terminations, and all other lease activity. Reporting is automated but still exported to spreadsheets to consolidate and manipulate.

5: End-to-end automation of the lease administration and accounting lifecycle, with analytics, forecasting, and ongoing process optimization.

Your Results

Your Score: 0/30

Maturity Level

Ready to Improve Your Process?

See how Spacebase can help your organization design and implement a lease accounting process that scales with your growth.

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