Many retail technology companies haven't really begun to address the changes that will be necessary to fully comply with the new lease accounting regulations.
The task of adhering to the new standards will be formidable and significant changes in technology, operations, and business processes will be required to achieve the transparency sought in financial reporting.
Our software takes your existing lease information and automatically recalculates the asset and liability associated with your property, equipment, and fleet leases. This maximizes your implementation speed and minimizes human error and auditing expense.
The Blitzn platform includes the advanced functionality needed to bridge the gap between ASC 840 and ASC 842.
Software That's Easy To Implement And Easy To Use
- Integrates with your existing system
- Automatically calculates the delta between ASC 840 and 842
- Downloadable reports for your financial statements
- Foreign currency capabilities - perfect for retailers with international operations
- 90-day implementation
READ MORE about the new FASB regulations impacting your business.
Blitzn Helps Retailers Prepare For The Accounting Changes
Many organizations are underestimating what will be necessary to comply with the new lease accounting standards. The changes required to address these standards warrant a deep and thorough analysis of the critical components of lease accounting software.
The technology team began updating our platform as soon as the regulations were published. We're the only retail technology company prepared to address the changes in how your property, equipment, and fleet leases get accounted for on the balance sheet.
Blitzn helps you avoid the material weaknesses and financial restatements that can impact your market capitalization and brand. We’ll track every property, equipment, or fleet lease and provide you with secure document management, including CAD drawings and pictures. OCR search capability with role-base security for viewing and editing access helps defend any journal entry in your ledger for an audit-proof trail.
Our advanced solution ensures that your leases are categorized and accounted for correctly, mitigating the risk associated with this new level of transparency in reporting.
READ MORE about how we can help you prepare for the changes
Schedule a demo
The Blitzn team will be at the National Retail Tenants Association Conference in New Orleans, September 24-27, 2017. Please complete the form below to schedule brief demonstration of our lease accounting schedule.