PeopleSoft Lease Admin

PEOPLESOFT GASB 87 COMPLIANT SOLUTION

FOR STATE, LOCAL AND HIGHER EDUCATION

PeopleSoft Lease Administration GASB 87: Public Sector and Higher Ed

Comply with GASB 87 and Reduce Management, Costs and Risk

Recent changes to GASB 87 accounting standards haev significantly impacting lease management and financial reporting. SpearMC has developed the only Oracle authorized PeopleSoft Lease Administration solution that complies with all GASB 87 "revenue lease" reporting requirements.
  • Calculation of Deferred Inflow/Lease Receivable as NPV of Lease Revenue
  • Books monthly Lease and Interest Revenue
  • Re-measures Deferred Inflow/Lease Revenue on Amendments
  • Reverses remaining Deferred Inflow/Lease Revenue on early Termination
  • Leverages existing run control pages for custom processes reducing number of custom objects
  • Uses delivered Journal Generator functionality to send accounting entries to GL

ASSET MANAGEMENT AND LEASE ADMINISTRATION IN ONE SOLUTION

  • Lease Admin Project Team and End-User Training/Prototyping
  • Track leased assets
  • Manage operating and finance leases for property and equipment
  • Integrate with Accounts Payable for lease payments
  • Account for depreciation and straightlining of leased assets
  • Optimize space planning and usage activities
  • Understand space attributes, utilization and occupancy in real time
  • Full compliance with IFRS 16, FASB ASC 842, and/or GASB 87 accounting guidelines

We implemented the GASB 87 solution from SpearMC.  It was a seamless implementation and we are extremely satisfied with the result.  Look to the experts at SpearMC to come through with their deep product and public sector knowledge!

— State of Montana