Visual Lease is a web-based lease management and accounting platform designed for corporate leaseholders and property owners who administer private or commercial properties for leasing and/or renting such as office spaces, retail stores, industrial sites, and so on. The software solution enables users to easily access and track lease information, important dates, financial data, documents, and contracts.
The cloud-based platform also allows real estate companies and organizations to efficiently manage their leased asset portfolio, as well as the accounting aspect of the business. The software solution is fully compliant with both the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB).
Visual Lease Features
Visual Lease comes with a wide array of features and capabilities, including customizable components like abstract categories, income and expense modules, reporting and analytics, user-defined fields, drop down lists, security protocols, and other useful tools.
The platform provides users with the capability to configure custom data fields and contract clauses to meet specific requirements, which they can then use for equipment rentals, real estate leases, and other transactions requiring agreements or contracts.
Since Visual Lease is IASB compliant, it can be used internationally with automated currency conversion features with custom clauses that also meet international compliance requirements, as well as recurring and nonrecurring rents and costs that can be tracked in any currency with reporting standardized to a single currency of the user’s choosing.
Visual Lease also comes with a built-in accounting system that features quite a few capabilities, including accounts payable, accounts receivable, and percentage rent. The system also covers common area maintenance and operating expenses or CAM/OPEX, as well as regulatory compliance, such as Sarbanes-Oxley (SOX) compliance.
With the accounting feature, users can effectively keep track of rents and costs—both recurring and nonrecurring—allocate costs and expenses, process invoices, make financial reports, adjust billing manually, calculate percentage rent, and track reconciliation activity.
Visual Lease provides a robust selection of standard reports on top of the ability to create ad-hoc custom reports that they can then reuse. The platform also allows users to define and save filters which can be applied to both standard and custom reports. The platform’s dashboard offers important date reminders and notifies the user of upcoming expirations, due dates, options, and changes in rent.
Moreover, the Visual Lease dashboard also comes with a global Geographic Information System (GIS) map of the portfolio where users will have the ability to access and view details and images of all leased, subleased, and owned properties. Users can also export raw data quite easily when necessary, to incorporate into the portfolio.
Portfolio performance can be easily viewed in graph form for more comprehensive analysis. The graph can be sorted by size of the property, cost per square foot or square meter, property type (commercial, industrial or residential), by region, upcoming expirations, by the organization, and so on. Visual Lease can also be used to view competitor lease locations in color-coded icons on a map.
Visual Lease allows users to centralize real estate documents and contacts for easy access since you’re essentially keeping all important files and information in one place, a single source where everything is neatly organized and stored. This makes it easier to keep track of your portfolio, your tenants, property owners, and other source documents.
Visual Lease Benefits
As a lease accounting and management software solution, Visual Lease is the ideal web-based platform for property owners and corporate leaseholders. The software solution is FASB and IFRS (International Financial Reporting Standards) compliant so it’s able to provide reports and calculations for all lease types and assets.
The integrated management suite allows you to manage your real estate portfolio, as well as handle other administrative tasks and processes to help drive strategic planning. Visual Lease and all of its components and features are quick and easy to implement, configure, and use. You don’t need to be tech-savvy or have extensive knowledge of programming to properly use the platform.
Enterprise-Level Lease Accounting Solution
Visual Lease’s accounting software solution is endorsed by all reputable global accounting companies, making it one of the most reliable and comprehensive solutions for your accounting needs. The cloud-based system is quite versatile and designed for an array of industries, which includes the financial services industry, retail, energy, healthcare, logistics, manufacturing, technology, and so much more.
Integration with other platforms is quick and simple. Visual Lease consolidates well with over 50 General Ledger (GL)/Enterprise Resource Planning (ERP) platforms, as well as a number of GLs across different sectors and business units. The accounting solution covers a wide array of lease types, including fleet vehicles, equipment, and property. For ease-of-use, it comes with a user-friendly data migration system.
Comprehensive Lease Management Solution
With 20 years of experience and more than 300 clients around the world, Visual Lease is the premier lease management and accounting platform for planning and managing a sophisticated and varied repertoire of leased assets, from real estate and equipment leasing to vehicle fleet rentals and more.
Visual Lease serves as a reliable centralized resource for all lease data. It manages a variety of lease or payment structures, offers simple yet modifiable business intelligence and reports, and the system integrates easily with any of your existing platforms.
FASB ASC 842 and IASB IFRS 16 Modules
Compliance with the rules and standards implemented by the authorities is crucial when it comes to accounting systems. Visual Lease comes with both FASB ASC 842 and IASB IFRS 16 modules so users can quickly and easily prepare for compliance with industry standards, both locally and internationally. You can rely on the platform to aid you in meeting your targets while staying in line with the current standards.
Visual Lease Pricing
Pricing and subscription rates for Visual Lease are available only upon request. Detailed pricing information is not available to the public. If you want to learn about the rates, you need to contact Visual Lease directly and ask for a quote based on your needs and preferences. You may also visit their official website for more information about their products and services. A demo is also available upon request.
Conclusion
Visual Lease is a real estate management and leases accounting platform designed for all businesses owning and renting out properties and assets. It comes with robust features and capabilities, including standards compliance. It is ideal for businesses and organizations of all sizes. So if you manage or own a number of properties on a lease, Visual Lease can be a great web-based solution to help you with the administration and accounting process.
