Service

KPMG Leasing Tool

The KPMG Leasing Tool is a pre-configured SaaS solution providing an integrated leasing solution.

Simple implementation, robust capabilities

The KPMG Leasing Tool is a pre-configured SaaS cloud-based application that is simple and fast to implement. It reduces the resources and costs of long-term compliance, and helps enhance your capabilities in key areas:

1. Lease inventory completeness and data capture

  • Individual lease inputs help capture all appropriate information for lease calculations
  • Automated workflow approval process includes a special review with audit trail for complex leases
  • Certification by reporting unit enables key users to validate completeness of lease population

2. Financial reporting and disclosures accuracy

  • Individual lease cash-flow and amortization schedules under both current and future accounting standards
  • Transitional balance sheet and journal entries for the comparative periods selected
  • Automated journal vouchers for uploading data to reporting unit systems
  • Individual business unit and consolidated disclosure reports

3. Lease activity business intelligence reporting

  • Prepopulated standard reports or customized reports
  • Expanded “business intelligence” reporting beyond the financial reporting calculations

4. Project management functionality

  • Project management supports company’s internal organization and desired project structure
  • Each user assigned to a specified reporting unit with a defined role, facilitating automated work flow and approvals
  • Dashboard reports track key metrics such as status, outstanding items, completed items or a wide range of user-defined metrics

5. Accounting diagnostics with gap and impact assessment

  • Initial assessment of potential accounting gaps and impacts to accounting and financial reporting process, systems, controls, tax, and other areas
  • Identification and heat mapping of areas where differences in former U.S. GAAP and the current standard are likely to arise and impacts will be felt 

The benefits go beyond compliance

Your lease portfolio is continually changing, with new leases being introduced, others expiring and some leased equipment reaching its end of life. The KPMG Leasing Tool helps by providing: 

  • A complete, accurate lease inventory 
  • Effective project management of your long-term lease accounting program 
  • Business intelligence reporting that can assist with purchase-versus-leasing decisions
  • Tracking of key metrics and automated workflow and approvals
  • Service Organization Control (SOC) reports that capture information on security and controls around financial transactions and reporting, information that can help audits go smoothly

*KPMG Leasing Tool is not permissible for KPMG audit clients and their affiliates. 

Related content

Leasing tool

Multiple FORTUNE 100 clients with complex lease portfolios are using the KPMG Leasing Tool to help meet ASC 842 and IFRS 16 standards.