March EZLease update
UI Updates
- Replaced FAS 13 references with "GASB 62" when GASB is selected as the accounting standard.
- Replaced FAS 13 references with "ASC 840" when US GAAP is selected as the accounting standard
- Replaced “Depreciation” references with “Amortization” where appropriate.
Scope of Access
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Scope of Access settings have been moved from System Options. They are now found by selecting User Access Permissions in the File menu.
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Scope of Access restrictions now work on Instant Reports
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Read the Scope of Access support article for more information
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Accounting updates
In rare cases, reporting outputs may vary between the previous and new versions of EZLease. See the table below for a complete list of scenarios in which report outputs could vary.
|
Scenario and impact of update |
ASC 842 |
IFRS 16 |
GASB 87 |
Lessee |
Lessor |
ARO |
|
Scenario: If a lessor lease is revised with the revision booking date in the middle of the rent payment period, the implicit rates were calculated incorrectly.
|
x |
|
|
|
x |
|
|
Scenario: If a lessor lease is revised resulting in the reduction in scope/ partial termination of the lease, the gain or loss is calculated but the transaction is unbalanced.
|
|
|
x |
|
x |
|