Lease Agent

Compliant & Accurate Lease Accounting in Minutes

Transform lease contracts into ASC 842/IFRS 16 compliant schedules and journal entries with AI

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"Lease Agent cut our prep time by 70% and delivers audit-ready schedules in minutes making the month end process accurate, fast, and effortless."

Lease Accountant at Enterprise Software Company

Ingest Leases & Extract critical terms

Upload any lease file like PDF, Word, or Excel - and AI instantly pulls key details like start/end dates, rent schedules, CPI escalations, and options.

This Lease Agreement ("Agreement") is entered into on

January 15, 2024

between Landlord Corp and Tenant

LLC.

PREMISES: The leased premises shall be

Suite 1200,

455 Market Street, San Francisco, CA 94105

, consisting

of approximately

8,500 square feet

TERM: The initial lease term shall be

five (5) years

commencing on

February 1, 2024

and ending on

January 31, 2029

BASE RENT: Monthly base rent of

$42,500.00

per

month, subject to annual increases of

3% per year

beginning on the second anniversary date.

RENEWAL OPTIONS: Tenant shall have

two (2) options

to renew

this lease for additional

five (5) year terms

each.

Extracted Terms

Lease dates

Start Date

Feb 1, 2024

End Date

Jan 31, 2029

Reconcile and Build Journal Entries Instantly

Automatically generate ASC 842/IFRS 16-compliant schedules and post-ready journal entries with no manual calculations required.

Period

Payment

Interest

Principal

Liability Bal.

ROU Amort.

ROU Balance

Initial

—

$2,020,000

—

$2,020,000

Feb 2024

$42,500

$8,150

$34,350

$1,985,650

$33,667

$1,986,333

Mar 2024

$42,500

$8,075

$34,425

$1,951,225

$33,667

$1,952,666

Apr 2024

$42,500

$7,950

$34,550

$1,916,675

$33,667

$1,918,999

May 2024

$42,500

$7,825

$34,675

$1,882,000

$33,667

$1,885,332

Jun 2024

$43,775

$7,700

$36,075

$1,845,925

$33,667

$1,851,665

Jul 2024

$43,775

$7,575

$36,200

$1,809,725

$33,667

$1,817,998

Jan 2029

$52,150

$1,875

$50,275

$33,667

Schedule Summary

Initial Recognition

ROU Asset

$2,020,000

Lease Liability

$2,020,000

Schedule Totals

Total Payments:

$2,895,000

Build Memo for Audit

Create detailed, traceable audit memos that capture assumptions, key terms, and accounting treatments - all in one click.

Lease Classification

Standard: ASC 842.10-25-2

Operating Lease

Discount Rate

Standard: ASC 842.20-30-3

4.5% IBR Applied

ROU Asset Calculation

Standard: ASC 842.20-30-1

Initial Measurement Correct

Lease Liability

Standard: ASC 842.20-25-1

Present Value Method

Disclosure Requirements

Standard: ASC 842.20-50-1

Review Required

100%

Audit Ready

Real-time

Validation

ASC 842 & IFRS 16

Both

Ask Questions in Natural Language

Search your lease portfolio with plain English: “Which leases renew next quarter?” or “Show me leases with CPI clauses.”

Hello, How can I help you?

Which leases renew in Q1 2025?

I found 3 leases expiring in Q1 2025:

NYC Office - Building A

Expires: Jan 31, 2025 • $45K/month

Equipment Lease - Printers

Expires: Feb 15, 2025 • $2.8K/month

Vehicle Fleet - Delivery Trucks

Expires: Mar 30, 2025 • $12K/month

What are the renewal terms for the NYC office?

NYC Office - Building A renewal terms:

Renewal Options:

2 options available

Option 1:

5 years @ $47,250/month

Option 2:

3 years @ $49,500/month

Ask Emma

Who it is For

Corporate Lease Portfolios

Automate schedule abstraction for hundreds of office or equipment leases

Controllers & Accounting Teams

Close month faster with fewer errors and more transparency

Finance Ops & FP&A

Analyze portfolio-level insights and plan for renewals, options, or expense spikes

Impact Delivered

70%

Faster Audit Prep

1 Week

Time to setup

1,200+

Hours Saved Annually

Turn hours of manual work into minutes

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