Lease Accounting Software

Detailed Features List

Lease Accounting Capabilities
Black Owl

Black Owl supports Financial Accounting Standards Board (FASB) ASC 842, International Accounting Standards Board (IASB) IFRS 16, and Canadian Accounting Standards for Private Enterprises (ASPE) Section 3065

Lessee Accounting Requirements
Black Owl
Lease Types (ASC 842)
  • Low Value
  • Finance Lease
  • Operating Lease
  • Non Lease Contracts
Lease Types (IFRS 16)
  • Standard
  • Low Value
  • Short Term
  • Non Lease Contracts
Lease Types (ASPE 3065)
  • Capital
  • Operating
Lessor Accounting Requirements
Black Owl
Lease Types (ASC 842)
  • Sales-Type
  • Direct Financing¬†
  • Operating
Lease Types (IFRS 16)
  • Finance
  • Operating
Lease Types (ASPE 3065)
  • Finance
  • Operating
Implicit Rate

Systems automatically calculates the implicit rate based on the term and conditions of the lessor agreement.


Easily create and track sublease agreements, including multiple levels of subleases.

Advanced Features
Black Owl
No Month End Processing

Automated calculations and postings with auditable journal entries.

Multi Standards

Compliance with US GAAP, IFRS, and ASPE.

Multi-currency & FX

Daily rate imports with month-end calculations. Supports CTA.

Coding & Allocations

Allocate lease costs to multiple centers, ventures, and other objects.

Booking Methods

Aligns with AP bookings and company budget processes.

Variable Costs & Forecast

Track and forecast variable costs.

Audit Trails

Reliable audit trails with each lease change.

Multi-entity Management

Supports multiple companies and coding structures.

Contract Management

Organize contracts down to asset component level

JE Audit Trail

Full visibility of all journal entries.

Lease Changes

Historical lease data remains unchanged for audit history.

IBR & Borrowing Rates

Auto-inserts and varies borrowing rates by asset classes & leases.

Black Owl
Accruals & Prepaids

Books costs in accurate accounting periods.


Distributes costs to multiple cost objects.

Liabilities Reporting

Distinguishes between short-term and long-term liabilities.


Prorates costs for mid-month lease starts.

Depreciation Methods

Includes straight line, demising balance, and unit of production.

Master Data
Black Owl
Setup & Flexibility

Compatible with any ERP system.

Mass Upload & Re-map

Quick setup and easy remapping options.

FX Rates & IBR

Automatic rate population with manual override options.

Custom Attributes

Create custom attributes for data capture and tracking.

Lease Entry
Black Owl
Lease Entry Screen

User-friendly lease creation.

Validations & Coding

Ensures correct lease categorization and allocations.

Lease Schedule & JE

Comprehensive lease documentation from start to end.

Mass Upload & Draft Lease

Mass upload and save drafts for completion later.

Approvals & Notifications

Approval workflows with email notifications.

Lease Change
Black Owl
Lease Change Screen

Intuitive screen for all lease changes.

Current & Retroactive Periods

Manage current and past lease adjustments.

Validations & Versions

Ensure accurate lease modifications and maintain history.

Impairment & Termination

Adjust for asset impairments and terminations.

Black Owl
Leases & Master Data

Efficient mass upload templates.

Closing Balances & Configuration

Smooth transition from other systems.

Monthly Accounting
Black Owl
Variable Costs & Lease End

Efficient end-of-month processes.


Automatic calculations after rate updates.

Reporting & Notifications

Comprehensive reporting with timely notifications

Accounting Periods & Journal Entries

Organized period management and exportable journal entries.

Black Owl
Dashboard & Customizable Directory

Personalized views and ad-hoc reports

Disclosure & Management Reports

Compliant and insightful reporting options.


Flexible report generation based on multiple criteria.

Implementation & Support
Black Owl
Deployment & Options

Secure and scalable cloud infrastructure.

Team & Support

Industry-leading security with access controls.

Black Owl
Licensing & Support

Unlimited users and entities, inclusive of all features.