The right software can help you efficiently do a lot of things, from personal budgeting and event planning to travel forecasting and bowling pin juggling. (OK, maybe not that last one.) This is especially true for commercial real estate professionals, as the right software can help with things like navigating new FASB regulations. Considering the updates take effect in late 2018/early 2019 (depending on your organization type), it’s important to prepare for them and see if they impact any of your existing leases.
You may be asking yourself: do you really need lease software? Start by really evaluating and getting to know the new FASB regulations and then researching lease software to see if it can make a difference. Whatever you do, don’t procrastinate.
There are several articles out there about the impact of the new FASB regulations on CRE professionals, but the most important thing you need to know is how they impact lease terms and balance sheets. Stray over the 12-month threshold of the new FASB leasing standard updates and your clients will be forced to document the entire balance of their lease payments as debts and assets. Talk about complicated. Fortunately, lease software like Quarem can ease the potential headaches of new FASB regulations.
General benefits are one thing, but you want specifics, right? Here are just a few of the ways lease software like Quarem can help you with FASB updates:
So, will lease software help you with the new FASB regulations? Yes. To learn how Quarem can help your business specifically contact us today for a consultation or demo.
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