Use the Contract module to create, track, and manage real estate lease contracts. The Contract module is compliant with the ASC 842, IFRS 16, and GASB 87 lease accounting standards and can be readily made SOX compliant. You can associate several contracts with one location or one facility.
The Contract module includes:
Details: Basic contract information such as users assigned to the contract and documents
Abstract Info: Lease abstract information such as terms, covenants, and key dates
Payment Info: Expense schedules and one-off payments
Accounting Info: Load accounting assumptions, run ASC 842 tests, and create and manage accounting schedules
Accrual Info: Create expense and percentage rent accruals