GASB 87 accounting standards have significantly impacted lease management and financial reporting for leases. SpearMC has developed the only Oracle-authorized PeopleSoft Lease Administration solution that complies with all GASB 87 “revenue lease” accounting requirements. Let us help your organization implement PeopleSoft Lease Administration for compliance, savings and streamlined reporting.
PeopleSoft Lease Administration
PeopleSoft GASB 87 compliant solution for State, Local and Higher Ed
Comply with GASB 87. Reduce Administration Overhead and Risk.
Ideal for public sector and higher education organizations, Lease Administration simplifies and automates critical aspects of lease management, including site selection and acquisition, lease administration and space management.
As an Oracle Platinum Partner and PeopleSoft expert, SpearMC can help you:
- Assess and configure a solution to your specific needs
- Plan for a successful data migration and deployment
- Train your implementation team and end users on its core capabilities
- 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 straight-lining 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
Featured Success Stories
- Achieved full compliance with IFRS-16
- Sped up lease management
- Provided employees with features to help them make more informed decisions, including multi-currency compliance and reporting, multi-country and local accounting variations, integrations with AP/AM, and custom reporting and query functionality.
“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!”