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Bloomberg Tax & Accounting
Program Name:
Bloomberg Tax Leased Assets
Type:
ASC 842 Compliance & Reporting
Description:
Bloomberg Tax Leased Assets allows your company to track operating and finance leases, perform complex calculations for right-of-use (ROU) assets and lease liability, and deliver advanced reports, such as payment and amortization schedules, and much more. Delivering a fast and reliable path to ASC 842 compliance, Bloomberg Tax Leased Assets is a Web-based, end-to-end solution that will help companies centralize lease data, automatically classify, and deliver an audit trail that provides visibility into each step of the lease accounting process regardless of the size of your lease portfolio.
Key Features:
- Calculation engine to auto calculate right of use (ROU) asset, lease liability, and interest expense.
- Documents management to upload and store lease contracts
- Entity management so you can track lease assets by entity and manage consolidated groupings among assets
- Data integration using custom APIs for integration with ERP systems
- Automatic classification of leases as operating or finance
- Reporting and journal entries to generate payment and amortization schedules, and ASC 842 disclosures
- Audit history and permissions allow you to track changes by user and set permissions and controls based on user roles
- Open Timeline (a Bloomberg Tax exclusive) keeps a thorough and secure historical record of all changes made to an asset for full timeline visiblity
Recent Enhancements:
- Support for customized, flexible lease payment schedules which allows users to define their payment schedule with as few restrictions as possible to accurately reflect terms set out in a lease agreement.
- Integration support for automating worfklows between Bloomberg Tax Leased Assets and general ledgers, ERPs, and other accounting systems.
System Configuration:
Bloomberg Tax Leased Assets is a SaaS solution on the proprietary Advantage platform which delivers a comprehensive view of key financial metrics across accounting, compliance and audit teams. Solutions on Advantage also include the industry leading Bloomberg Tax Fixed Assets, providing our customers with the ability to manage assets across the lease-to-fixed assets full lifecycle.
Vendor:
Bloomberg Tax & Accounting
1801 South Bell Street
Arlington, VA 22202USA
Web Site: www.bloombergtaxtech.com
Contact:
Kevin Lloyd
Email: klloyd@bloombergtax.com
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