GASB 96 Software
Automating Compliance with GASB 96
Tailored to Your Needs
Cradle Automates Accounting for a SBITA contract
With GASB 96, all Subscription-Based Information-Technology Arrangements (SBITA) are now required to be accounted for on the balance sheet. Understanding how to do this comes with many intricacies before even considering what the journal entries should be.
However, before becoming overwhelmed, there is an alternative - Cradle. With Cradle, all you need to do is input the contractual information, and Cradle will generate the Net Present Value calculations, the journal entries, and financial reports, including the notes to the financial statements, in just seconds.
Software That's Made For you
Ushering You Through GASB 96
When you're considering how to handle GASB 96, the last thing you want from your SBITA accounting software is a mere imitation of a spreadsheet. While it's essential to have the option to export data to Excel, what you truly need is a solution that goes beyond that – one that offers impeccable organization, effortless accessibility, and automation. Unfortunately, many existing systems are overly complex, difficult to navigate, and demand a significant amount of time for your team to master. Cradle is different.
To address these issues, we took a completely different approach and built an accounting software exclusively tailored to accountants. We started from scratch, creating an entirely new user experience. Our goal was to design an intuitive user interface that guides you seamlessly through every step of the accounting process, from initial recognition of the subscription asset and liability to modifications and financial reporting.
The results of our latest customer satisfaction survey speak for themselves. All of our respondents were able to use our software with minimal to no training. But instead of just reading about it, why not try it for free? You'll quickly discover that our software is so user-friendly that even non-accountants can navigate it effortlessly.
Automated Journal Entries
Debits and Credits Done By Cradle
By using Cradle you'll no longer have to figure out what journals to post. By simply entering the contractual data, Cradle can generate the journal entries for you. It effortlessly accommodates even the most intricate and irregular payment schedules, reporting cycles, or timeframes. With just a single click, you can handle the entire portfolio.
Cradle takes care of all the associated accounting journal entries dictated by GASB 96.
Financial reporting at the end of each month will become a task you actually enjoy, regardless of the size of your subscription portfolio.
Features
Put GASB 96 on Autopilot
Centralize, manage, and automate your SBITA accounting.
- Automated Accounting
- The primary obstacle in the financial close process is the extensive manual effort involved. However, with Cradle, you can eliminate this problem and embrace a unified, automated, and continuous solution for your SBITA accounting
- Built For Any Scenario
- 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
- Effortlessly collaborate with multiple teams across various locations. Foster accountability by providing visibility and granting access to critical information only when necessary.
- Integration
- Enhance your existing accounting system with Cradle. Effortlessly replicate your general ledger environment in Cradle and conveniently export the data.
- Consolidated Reporting
- Effortlessly generate reports and efficiently manage your portfolio at the agreement, company, or consolidated level. Whether you have a portfolio spanning multiple subsidiaries and currencies, Cradle handles it seamlessly without any issues
- Contract Management
- In business operations, we recognize that accounting is just one aspect of the whole picture. Use Cradle's customization features to capture any information. Consolidate all events in a single location and establish email reminders, ensuring you never overlook any significant dates again.
- Audit Trail
- With Cradle, you have the ability to track all changes made in the software. This includes when a contract is deleted and if subscription information is changed. You can then drill down on this data using various search parameters, such as by user, company, or time.
- Lock Agreements
- In Cradle, you have the ability to lock sections at the agreement and company level to prevent any further changes. This is incredibly useful for large teams, finance teams that want robust financial reporting controls, and those who want to lock periods.
User Permissions
Provide User Access Based On Responsibilities
Say goodbye to the need for password-protected spreadsheets, which can be insecure (we've all seen passwords like "march2020"). Instead, Cradle allows you to assign precise user permission roles. Need to grant temporary read access? No problem. Have a foreign entity managed by an external finance team? Simply add a superuser to that company and let them handle it all.
Our platform mirrors a corporate structure, including parent-subsidiary relationships. Each subsidiary can manage its own user access, making it intuitive and straightforward—the way software should be.
Robust Functionality
Built For Enterprise
Cradle's SBITAs Accounting Software is a comprehensive solution that provides all the essential functionality for efficient subscription management and accurate financial reporting. It simplifies the complexities of SBITA accounting, ensuring compliance with GASB 96. With an intuitive interface and powerful features, businesses of all sizes can effectively track, monitor, and analyze their subscription contracts.
This software offers end-to-end contract management, from capturing SBITA details to generating insightful reports. It automates recognition, and measurement while accounting for modifications. Robust reporting capabilities allow the generation of comprehensive financial reports and customizable analytics for informed decision-making.
With customizable workflows, configurable settings, and integration capabilities, the software seamlessly adapts to your business requirements and integrates with existing systems. Whether you're a large corporation, finance team, or growing business, Cradle's Accounting Software provides the functionality you need for streamlined contract management, compliance, and financial accuracy. Experience peace of mind and efficiency with Cradle as your ultimate GASB 96 accounting solution.
SOC 2 Type 2
No Compromise On Security
With our SOC 2 Type 2 compliant cloud based application, you can have full confidence in the protection and integrity of your sensitive information.
Our software undergoes rigorous audits and assessments to ensure it meets the stringent criteria set forth by SOC 2 Type 2. This certification validates our commitment to maintaining the highest standards of security. Rest assured that your data is protected against unauthorized access, system failures, and other potential risks.
By choosing Cradle's SOC 2 Type 2 compliant software, you are choosing a solution that prioritizes the security and privacy of your information. With us, you can confidently manage your data and leverage our powerful features and functionalities, knowing that your sensitive data is safeguarded by industry-leading security measures. Experience peace of mind and trust in Cradle's software for all your critical data management needs.