ProCalc and ProLease Press Release:
ProCalc and ProLease now include the ability to capitalize leases based on the new FASB/IASB Lease Accounting Standards:
ProCalc is pleased to announce the release of version 2015.1. This platform upgrade includes the ability to capitalize leases based on the new FASB Lease Accounting Standards.
For the past five years we have been hard at work, consulting with members of the working committee from FASB and the IASB on this project!
We have been through all of the exposure drafts and have met with IASB board members (London) and FASB board members (Norwalk, CT) to discuss the effects of capitalizing leases on the commercial real estate industry.
Now that the FASB and IASB are very close to finalizing the plans, we have built the ability to capitalize leases into ProCalc.
ProCalc makes it incredibly easy to capitalize your leases. The data entry process simply cannot be done any easier than we do it. You enter the most minimum amount of data and get the maximum amount of output. And as usual every box is optional. You only fill in what you need to include in your transaction:
- • Capitalization Term (inclusive of renewal or cancellation options)
- • Discount rate
- • Rent deductions that you receive a service for
- • Landlord Allowance deductions
- • Initial Direct Costs (IDC)
- • Impairment Charges
In less than 2 minutes of data entry ProCalc and ProLease will automatically calculate your Lease Liability and Right of Use (ROU) Asset instantaneously.
In addition, both programs allow you to see exactly how every calculation is done. Other programs may give you the final result, but only ProCalc allows you to see step by step exactly how every calculation is done. You can prove any part of the calculation in any month with your calculator.
The ProCalc Lease Analysis System includes Templates For:
- • Tenant Rep Program:
- -Pre Tax
- -Post Tax
- -GAAP (Straight Line Rent)
- -P & L
- -Capitalization (FASB)
- • Landlord Program
- • Lease vs Buy Program
- • Sublease Program
- • Commission Program
No matter what side of the coin you are on, ProCalc has an analysis program for you.
ProLease Lease Administration Database: We would also like to mention that at the end of 2014 we released a new version of the ProLease Lease Administration Database which allows you to capitalize your leases. You can set up one or multiple schedules in a property. You can run reports across one capitalization schedule, a few capitalization schedules or the entire portfolio. Again, it is 2 minutes of work to capitalize a lease in ProLease as well. You will be amazed at the reporting capability you get for your 2 minutes of data entry work.
Whether you are a seasoned professional with an accounting background or if you have no accounting background at all but you want to learn how to capitalize a lease, the ProCalc Lease Analysis System and the ProLease Lease Administration Database are the software programs you want to be using.
Both ProCalc & ProLease come with our “Guide to Capitalizing Commercial Real Estate Leases”.
This guide walks you through the process one step at a time and teaches you:
- • The variables you need to capitalize a lease
- • What rent gets capitalized
- • Determining the capitalization term
- • Deductions you can take to reduce the rent to be capitalized
- • How to calculate the lease liability
- • How to calculate the ROU Asset
As easy as we have made it, our AWESOME tech support line is always there 24/7 to help.
About Us: ProCalc, Inc. opened its doors 23 years ago (April 1992). We currently have thousands of companies using our software worldwide. We have answered over a half a million tech support calls, done thousands of training sessions and released close to 100 upgrades over the years. You can’t buy experience like this anywhere else. ProCalc and ProLease, the trusted names in commercial real estate software. We can show you how really great software can simplify your life.That’s why we always tell people…