YOUR AUTOMATION SOLUTION Lease accounting software done right
Compliance with IFRS 16, ASC 842, GASB 87 and GASB 96 is time-consuming, complex, and susceptible to manual error. With Cradle as your web-based command center, these issues disappear.
Companies from around the world trust Cradle
A better way to do lease accounting
Automate arduous tasks that come with complying with the new lease accounting standards. Standardizing your lease financial reporting process across your entire organization not only drastically reduces the opportunity for manual error but also streamlines your financial reporting.
Automate Compliance
Significantly reduce your time spent managing and accounting for your lease portfolio. Cradle automatically does complex present value calculations, modifications, journal entries and all of the required financial reporting needed to stay compliant.
- Engineered for your portfolio
- The best software is meaningless if it can not handle your portfolio requirements. At Cradle, we understand this. We have engineered our software to offer ultimate flexibility, no matter the payment structure, complexity of modifications, or nuance reporting requirements.
- Instant financial reports
- Once your lease portfolio is added, the financial reporting requirements are done according to the applicable lease accounting standard.
- Foreign exchange accounting
- Enter your applicable foreign exchange rates, and all foreign-dominated leases will be converted to your functional currency in accordance with IAS 21 (IFRS) and ASC 830 (US GAAP).
Know the status of your portfolio
Whether it’s receiving an email reminder to follow up regarding the renewal of a leased asset, or a request from the CFO to know the current impact of the consolidated portfolio on the financial statements—you can do it all with Cradle.
- Configurable lease management
- We understand that every company's lease administration needs are different. Having a standardized experience would fall short of our customer's needs. This is why we have an incredibly robust and customizable lease management system. Your lease administration can be tailored to suit your portfolio requirements.
- Work together
- Cradle brings the benefits of software to lease accounting. By replicating a company's corporate structure, it allows ultimate flexibility in how teams can work together on portfolios while maintaining oversight. Have a foreign subsidiary with a sizable lease portfolio? Add a superuser to that subsidiary and let them handle that specific lease portfolio.
- Ease of use
- There is more to choosing the correct lease accounting software than just functionality. If the software is strenuous to learn and unintuitive to use, it can often be more time-consuming than just doing it manually. We've designed our software specifically for how an accountant operates. With our intuitive user interface, you can get started with little to no training.
Want to see more? See how Cradle can solve your compliance with ASC 842, IFRS 16, GASB 87 & GASB 96.
"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."
Testimonials
Kind Words from the Exceptional Accountants We Work With!
"Incredible customer service and the most user friendly service of all the ASC 842 platforms I tested. The implementation team walked me through the product numerous times and was an absolute delight to work with. They had the most reasonable price and would recommend to ANYONE!"
Pat K.
Director of Accounting
Enterprise(> 1000 emp.)
"Overall best ASC 842 softwares I have used. Customer service has always been excellent. Would recommend to anyone!"
Josh G.
Enterprise(> 1000 emp.)
"Simplified, easy to use and achieves the needed outcomes. Reporting meets any requirements. Help function is excellent."
Jim F.
Elite Dental Partners
"The reports are easy to use and pull and contain all the information we need for our journal entries and BS reconciliations."
Rondinella O.
Mid-Market(51-1000 emp.)
"The software is user friendly, affordable for small companies, and the support has been excellent."
Cody G.
VP/Controller | Mid-Market(51-1000 emp.)
"The one-on-one walkthrough with the Cradle Team made learning the platform fast and straightforward. The ease of use is great and the price is amazing!"
Caleb S.
Enterprise(> 1000 emp.)
"It's designed by a team that understands what accountants want and need. It is also cost effective for a small business and yet provides the same look and feel like a Big 4 accounting experience."
Wade S.
Small-Business(50 or fewer emp.)
"The ease of use was a big benefit to us. Also the customer service has been fantastic."
Ty M.
Mid-Market(51-1000 emp.)
"Cradle Accounting is incredibly user-friendly with an intuitive environment. Setting up a new lease with the classification questions, help links, and step-by-step format is straightforward. We can instantly see accounting results to verify the accuracy. Reporting is quick and extensive, easily accomplished at the click of a button. Simple to create email reminders are a great tool too."
Julie S.
Mid-Market(51-1000 emp.)
"Its ease of use, reporting journals function."
Manpreet K.
Mid-Market(51-1000 emp.)
"The software interface is very intuitive and easy to use. I also love the links to the standards and question mark explanations on the input fields."
Adam T.
Senior Manager
Mid-Market(51-1000 emp.)
All-in-one platform
Everything you need for your lease accounting
Improve the speed, accuracy, and reliability of your lease accounting. By leveraging a combination of data and process standardization, embedded internal controls, and real-time reporting, have clear visibility into your lease portfolio.
- IFRS 16, ASC 842, GASB 87 & GASB 96
- From initial recognition to modification accounting, Cradle is a complete lease accounting solution.
- Foreign exchange accounting
- After adding your fx rates, Cradle can automatically handle all of the conversions, taking into account all the nuances that come with accounting for a lease in a foreign currency.
- Consolidated reporting
- You can run all of your reports on individual agreements, for their respecitive subsidiaries, or on the entire organization as a whole.
- Custom fields
- We understand that every company has their own needs, therefore you have the capability to customize your agreement templates to add any relevant fields or sections you want.
- Notifications
- You can add email notifications to any relevant events for an agreement.
- User roles
- By choosing from a variety of different user roles, you can be assured that only the relevant employees will access the appropriate information.
- Customer support
- If you do run into a roadblock your queries will be answered promptly.
- Straight forward pricing
- Transparent pricing that makes the return on investment unquestionable.
Frequently asked questions
- Does Cradle integrate with my accounting system?
You can configure Cradle to replicate the general ledger and cost center environment of your applicable general ledger. Once set up, exporting your accounting data into your accounting system takes seconds.
- How do we get our lease data into Cradle?
We offer a number of different options. You can, of course, enter the data yourself or request us to help. Depending on the size of your portfolio, you can also leverage one of our partners. For more information, please reach out to [email protected].
- How does your pricing work?
Our pricing is straightforward; it's based on the number of leases managed. The number of users added has no bearing on the price. We encourage collaboration.
- How much does Cradle cost?
Our pricing starts at $99 per month. This plan allows you to manage up to 10 agreements. We also have $199 plan for portfolios up to 20. If you have a larger portfolio, please book a demo or call +1 (888) 738-8030.
- Is Cradle worth the money?
It comes down to how you value your time. Lease accounting can easily take hundreds, if not thousands of hours, depending on the portfolio's size. By using Cradle, you can streamline your month-end reporting requirements to be done in minutes instead. It even removes the risk of manual calculation errors. Another benefit is that it allows teams from multiple business areas to work together. Not to mention the ability to have all your critical information regarding your lease portfolio at your fingertips.
- Why Cradle?
With our lease accounting functionality combined with our reasonable pricing, we have a very compelling position in the market. A lease accounting software company should have two key ingredients, accountants and software engineers, and that's precisely what Cradle has. A company just full of accountants would lack the required knowledge to build software, and a company of just software engineers wouldn't know the accounting! Cradle was founded with a founder from each discipline.
We don't dance around pricing, nor make it difficult to see our software. All the information to make an informed buying decision is all available online as we're confident it's more than competitive.
- What company size is your software for?
ASC 842, GASB 87, IFRS 16 & GASB 96 don't have different rules for different size companies. The same principle applies to our software. Cradle's lease accounting software can service an organization with one lease or multinational managing hundreds of leases that have teams throughout the world, leases in foreign currencies, subsidiaries with different functional currencies. Our customers are a testament to this. As long as you like super-fast, easy-to-use software, you've come to the right place.