iLeasePro
Affordable ASC 842 lease accounting and management software
About iLeasePro
iLeasePro is a cloud-based lease accounting and management platform built to help small and mid-sized organizations comply with FASB ASC 842 and GAAP. It automates lease classification, journal entries, disclosure reporting, and critical-date tracking so finance teams can manage real estate and equipment leases without spreadsheets.
Pros & Cons
Pros
- Designed specifically for small to mid-sized companies needing ASC 842 compliance without enterprise pricing
- Most teams are live in days rather than months
- Strong automation around journal entries, rent calculations, and disclosure reporting
- Includes unlimited users on every plan rather than per-seat licensing
- Native Sage Intacct integration plus generic web services for other ERPs
- Vendor offers a price-match guarantee against competitors
Cons
- Pricing for the full iLeasePro tier is quote-based with no public number
- Portfolio management, document management, MFA, and SSO are paid add-ons on the iLeasePro plan
- UI is functional rather than modern compared to newer lease accounting tools
- Native ERP integration is limited primarily to Sage Intacct out of the box
- Best fit for SMB; very large global portfolios may outgrow it
Key Features
ASC 842 Compliance
Step-by-step guidance to classify leases under the ASC 842 dual model and produce compliant accounting treatment.
Automated Journal Entries
Generates monthly journal entries automatically with web services integration to post into your accounting system.
Automated Rent Calculations
Handles escalations, concessions, and complex lease term math without manual spreadsheet errors.
50+ Standard Reports
Pre-built reports across account, lease analysis, audit, accounting, and administration with filtering.
Critical Date Notifications
Automated alerts for lease expirations, option dates, insurance renewals, and custom milestones.
Document Management
Centralized repository for lease contracts, amendments, and supporting documentation.
Sage Intacct Integration
Native integration with Sage Intacct for seamless ERP posting and reconciliation.
Bulk Lease Import
Intelligent import templates with real-time error detection for rapid onboarding of existing portfolios.
Disclosure Reporting
Generates the quantitative and qualitative footnote disclosures required under ASC 842.
Audit Trail and Security
Complete change history with SOC 1 Type 2 certified hosting and optional MFA/SSO.
Pricing
- Up to 15 leases
- ASC 842 compliance
- Basic reporting
- Excel export
- Email support
- Cancel anytime
- Unlimited leases
- ASC 842 compliance
- Document management
- Portfolio management
- 50+ standard reports
- Sage Intacct integration
- 5 hours of virtual support
- 1-3 year contracts with 10-15% discount
- Up to 5 contracts
- Document upload
- Critical date alerts
- Basic reporting
- Unlimited users
- Up to 150 contracts
- Full document repository
- Advanced reporting filters
- Self-service import tool
- Portfolio groups
- 5 hours support
Best For
ASC 842 Compliance for SMBs
Small and mid-sized companies adopting or maintaining ASC 842 lease accounting without hiring a large finance team.
Real Estate Lease Portfolio Management
Tracking leased office, retail, or warehouse locations with critical dates, options, and rent escalations in one place.
Equipment Lease Accounting
Managing operating and finance leases on vehicles, IT, and equipment with automated classification and journal entries.
Audit-Ready Disclosure Reporting
Producing the quantitative and qualitative footnote disclosures auditors require under ASC 842.
Migrating Off Spreadsheets
Replacing fragile Excel-based lease schedules with a centralized, audit-trailed system.
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