Lease schedules and entries without the monthly rebuild
Every lease needs its own schedule and discount rate, and the monthly entry depends on how the lease is classified. The Accounting Agent maintains those schedules from your lease data and drafts the monthly entries, ready for your review.
What the Accounting Agent prepares
- A lease amortization schedule for each lease, from commencement to the end of the term
- The right-of-use asset and lease liability, calculated at commencement and rolled forward each month
- Monthly entries for each lease, reflecting its classification (operating or finance under ASC 842)
- Updated schedules when you change terms, such as an extension or a rent change
- A roll-forward of ROU assets and lease liabilities tied to the GL
How it works
- Pull the data. The Accounting Agent pulls lease terms, payments, and balances from your lease file and your ERP.
- Prepare the work in your logic and format. It builds or rolls forward each schedule using the classification, discount rate, and terms your team set, then drafts the entries.
- Review and approve. You review the schedules and entries, then approve. The lease entries post to your ERP only after that approval.
What stays in your control
- Classification, discount rates, and lease terms are decided by your team
- Each month's entries carry their schedule and need approval to post
- Every figure traces back to the lease terms behind it
Standard note
ASC 842 and IFRS 16 require lessees to recognize a right-of-use asset and a lease liability for most leases; ASC 842 keeps an operating and finance classification, while IFRS 16 uses a single lessee model.
FAQ
What does a lease schedule calculate?
It calculates the lease liability as the present value of remaining lease payments, the right-of-use asset, and how both change each period as payments are made and lease cost is recognized.
What is the difference between an operating and a finance lease under ASC 842?
A finance lease recognizes interest on the liability and amortization of the right-of-use asset separately, while an operating lease recognizes a single straight-line lease cost. Both put a right-of-use asset and a lease liability on the balance sheet.
Does Ledge decide lease classification or discount rates?
No. Your team sets classification, discount rates, and terms. The Accounting Agent applies them consistently and shows each calculation.
