Spreadsheets Are Not the Only Option for Companies

Written by Ane Ohm, Co-Founder and CEO, LeaseCrunch^®

Will spreadsheets do the trick for implementing the new lease standard? The general consensus seems to be “no,” but I still hear about organizations exploring the spreadsheet route—especially those with smaller lease portfolios who feel there is not a viable software option.

I have been to numerous industry conferences and regularly speak to CPA firms of all sizes, and I often hear this debate about spreadsheets vs. software. Not surprisingly, I am solidly in the camp that says spreadsheets are a risky and cumbersome way to implement this new standard. 

Before you click away, thinking “this article does not apply to me,” I would challenge you to keep reading because this applies to all companies that must comply with the new lease standard (and the CPA firms that serve them).

• This message is more urgent for public and multinational companies that completed their initial implementation using spreadsheets, which is not limited to organizations with a handful of leases.
• Even with the likely delay for non-public U.S. companies, we highly recommend getting started on your implementation now… and I will explain why.

You can read the full article from Accounting Today, here.