Visual Lease Administration Software

Understanding Visual Lease: From Compliance to Lease Administration

1. What is Visual Lease?

Visual Lease is a cloud-based lease accounting and lease administration platform that helps organizations manage and maintain compliance with lease accounting standards such as ASC 842, IFRS 16, and GASB 87. It is widely used by tenants to centralize lease data, track obligations, and streamline financial reporting.

2. What are the key features of Visual Lease?

Visual Lease offers a robust feature set focused on both lease administration and accounting, including:

• Centralized lease database
• ASC 842 and IFRS 16 compliance tools
• Automated journal entries
• Custom reporting and audit trails
• Lease abstraction templates
• Alerts for critical dates and lease obligations
• Integrations with ERP and financial systems

3. Who uses Visual Lease?

Visual Lease is commonly used by lease administrators, finance teams, accountants, and compliance officers within mid-sized to large companies. It supports a wide range of industries, including retail, education, government, healthcare, and corporate enterprises.

4. Is Visual Lease used for lease accounting or lease administration?

Visual Lease is designed for both purposes. It enables efficient lease administration-tracking terms, dates, and documents—while also offering powerful tools for financial compliance and lease accounting reporting.

5. What makes Visual Lease different from other lease software platforms?

Visual Lease is known for its intuitive interface, compliance focus, and depth in financial reporting. It also emphasizes internal controls and audit preparedness, making it ideal for companies preparing for annual audits or undergoing financial scrutiny.

6. Can Visual Lease integrate with accounting and ERP systems?

Yes. Visual Lease integrates with various financial platforms like SAP, Oracle, NetSuite, and others, ensuring smooth financial workflows and data consistency across systems.

7. How do companies input data into Visual Lease?

Lease data can be input manually, uploaded in bulk, or entered through lease abstraction services. Many organizations use third-party abstraction specialists to ensure lease details are accurately reflected in Visual Lease.

8. Is Visual Lease cloud-based?

Yes. Visual Lease is a fully cloud-hosted platform that can be accessed securely from anywhere, supporting remote and hybrid work models.

9. What types of leases can Visual Lease manage?

Visual Lease supports a wide range of lease types including real estate, equipment, vehicles, and other asset leases. It is particularly strong for managing large volumes of real estate leases across geographies.

10. Does Visual Lease support CAM reconciliation?

While Visual Lease stores and tracks lease terms related to CAM and other variable expenses, CAM reconciliation is typically performed manually or with external help. However, the platform's structured data makes this process more efficient and accurate.

Learn how RE BackOffice can support you with ongoing lease administration in Visual Lease.

Contact us today!