Does Crunchafi handle calculations for GASB 96?
Entities can use Crunchafi Lease Accounting to record SBITAs under GASB 96
Crunchafi Lease Accounting is built with everything you need to implement GASB 96 for your Subscription-Based Information Technology Arrangements (SBITAs).
GASB 96 must be implemented for fiscal years beginning after June 15, 2022, with a requirement to restate all prior periods presented.
To record SBITAs, an Administrator or Accounting Administrator must add a new Reporting Entity under the Accounting Standard of GASB 96.
Once subscriptions are added with the appropriate Reporting Entity and Asset Type, run reports by selecting the Accounting Standard GASB 96 on the My Leases page. The Footnote Disclosure for GASB 87 and GASB 96 should be run separately.
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