The solution for GASB 87

The smartest way to comply

Streamlined financial reporting

Simplifying Lease Accounting

Cradle’s lease accounting software will ensure you’re compliant with GASB 87.

Our software will help you navigate the complexities of the standard with ease, and before you know it, you will have compliant financial reports without any human error.

What’s even better is that it’s easy to use. You should have no problems inputting a lease and doing modification accounting. We also offer a free 30-day trial because our software speaks for itself. Try it here.

Effortless Lease Accounting

Cradle Does The Debits and Credits

Imagine doing accounting where you don’t have to concern yourself with the debits and credits—this is the benefit of using Cradle. Once you input the contractual data, Cradle can output the journal entries. Preparing a set of journals for a lease portfolio of thousands can be done with a click.

Transform your financial reporting

Features

Centralize, manage, and automate your lease accounting.

Instant compliance: Manual effort is the number one bottleneck in the financial close process. Remove this problem with Cradle and have a unified, automated, and continuous solution for your lease accounting.
Software you can count on: No matter the agreement terms or the type of modification, you can rely on Cradle. Some companies claim they have tested thousands of scenarios. Unfortunately, that is ineffective; it's your specific scenario that counts. Here at Cradle, we've built the solution from the standards' logic, ensuring that our engineers follow solid programming practices and test-driven development.
Cloud-based solution: Collaborate with multiple teams in multiple locations. Drive accountability through visibility and allow access to critical information only when it is needed.
Integration: Complement your current accounting system with Cradle. Seamlessly recreate your general ledger environment in Cradle and export the data.
Consolidated reporting: Run reports and manage your portfolio at the agreement, company or consolidated level. Have a portfolio across multiple subsidiaries and currencies? Not a problem.
Audit Ready: All the features ensure you and your auditors can stop on top of your lease portfolio. Cradle allows you to track any changes to a lease. Furthermore, as many of us are former auditors, we've ensured all the access they need is easy to find. Year-end could not be easier.
Lease management: When running a business, we understand that accounting is only part of the story. Capture additional information critical to your portfolio with custom fields. Manage all events in one place and set up email reminders. Never miss an important date again.
Centralized documentation and search: Attach and store all supporting documentation in one secure central location.

Never miss a beat

Easily Track Your Leases

Missing a critical lease date can hurt not only a company’s accounting but the business as a whole. For example, not staying on top of renewal options and not having access to the needed leased assets because of administrative oversight is something you do not want to be responsible for.

Cradle mitigates this risk. Our software has specific functionality to ensure this never happens. For example, set up reminders in seconds to ensure no key date is missed. In addition, if there are changes to a lease, seamlessly update the agreement in Cradle, and the software will ensure you’re GASB 87 compliant.

Let us do the heaving lifting

Engineered for your compliance

Leave the complexity to Cradle. Cradle’s GASB 87 software has been specifically engineered for your compliance with GASB 87. Any scenario in the standard Cradle can handle. Sub-lease accounting, foreign exchange, and partial terminations are not a problem.

When it then comes to financial reporting, that now takes seconds. Cradle as everything you need for your GASB 87 compliance:

Balance Sheet
Income Statement
Cash Flow Statement
Disclosure Statement

On top of this, no matter your company structure or reporting frequency, Cradle can handle it.

lease portfolio management

More Than Lease Accounting

Leasing assets can be a critical area to the success of many organization. It can also involve key information and metrics in addition to that is required for lease accounting. If this is the case for your organization Cradle can be leveraged and used by more than just the accounting team.

Cradle can be customized to suit the needs of your organization.

A Hub for Teamwork

A place to collaborate

The days of having to worry about version control, Excel crashing and remembering to email the latest version of that lease is done.

With Cradle, your entire team can access the latest lease accounting information, whenever they won’t. Also, by using Cradle you can control the permission level of users and even lock the software to prevent any accidental edits.

Get compliant today

Everything You Need and More

Cradle’s lease accounting software is highly robust and is designed to handle the most complex lease portfolio.

To learn even more about how Cradle can solve your GASB 87 accounting requirements, either sign up for a free trial here or get in touch with [email protected] and schedule a demo.