Introduction

Lease accounting has become a central issue for finance teams since the introduction of ASC 842, IFRS 16, and GASB 87. What used to be simple rent expense now requires capitalizing Right-of-Use (ROU) assets and recognizing lease liabilities on the balance sheet.

That shift means companies need more than just spreadsheets. They need tools that can automate lease schedules, ensure compliance, and feed results directly into financial statements.

In this article, we’ll break down the basics of lease accounting, give you a framework to evaluate software, and then review the 10 best lease accounting solutions in 2025 — plus a flexible Excel-based alternative.

Lease Accounting Basics

At its core, lease accounting requires companies to:

  • Classify leases (finance vs operating).
  • Recognize ROU assets (representing the right to use the leased asset).
  • Record lease liabilities (the obligation to make lease payments).
  • Amortize and expense the lease over its life (depreciation + interest expense).
  • Disclose properly in financial statements for auditors and regulators.

This requires complex calculations:

  • Discounting lease payments.
  • Generating amortization schedules.
  • Handling lease modifications, renewals, and terminations.
  • Reconciling lease balances with the general ledger.

Doing all this in Excel alone quickly becomes error-prone, especially if you manage dozens or hundreds of leases.

Framework to Think About Lease Accounting Software

Not every company needs the same tool. Here’s a simple framework:

  1. Compliance Needs
    • Are you primarily focused on ASC 842/IFRS 16 compliance for audits?
    • Or do you also want reporting, forecasting, and analytics?
  2. Portfolio Size & Complexity
    • Small portfolio (<20 leases) → spreadsheets may still work.
    • Medium/large portfolio (50+ leases, multiple entities) → software saves time.
  3. Integration with Financial Reporting
    • Do you want the lease module to stand alone?
    • Or should it feed directly into P&L, balance sheet, and forecasts?
  4. Flexibility vs Standardization
    • Standard tools = more structure, less customization.
    • Excel-based or multidimensional tools = more control and modeling flexibility.
  5. Audit & Controls
    • Audit trail, user permissions, and reporting are key for larger companies.

10 Best Lease Accounting Software in 2025

Here are the leading tools, each strong in different areas:

  1. FinQuery – Best Overall
  2. Visual Lease – Best for Large Portfolios
  3. Crunchafi Lease Accounting – Best for CPAs
  4. Spacebase – Best for Custom Journal Entries
  5. Rubli Lease Accounting Solution – Best for Customizable Reporting
  6. CoStar Real Estate Manager – Best for Audit Readiness
  7. iLeasePro – Best for Date Tracking & Usability
  8. Nakisa Lease Accounting – Best for Enterprise-Grade Deployments
  9. Tango Analytics – Best for Lease Administration
  10. Cradle Accounting – Best for Fast, Flexible Reporting

(Each of these delivers ASC 842/IFRS 16 compliance, automated schedules, and integrations, but differs in focus — from CPA-friendly speed to enterprise-grade controls.)

PivotXL: An Excel-Based, Flexible Alternative

Specialized tools are great for compliance, but they often come with rigid workflows and a steep learning curve. For finance teams that live in Excel, PivotXL offers a smarter path:

  • Excel-Native: Works inside Excel, no new platform to learn.
  • Multidimensional Data Cube: Pre-program lease assets and liabilities; every month, import your trial balance, and the cube automatically rolls leases into your P&L and balance sheet.
  • Flexible Analysis: Slice data by entity, department, lease type, or scenario (budget vs actuals vs forecast).
  • Integrated with Reporting: Lease schedules aren’t isolated — they become part of your broader financial model (cash flow, EBITDA, forecasting).

In other words, PivotXL combines the compliance structure of lease accounting with the flexibility of Excel-based FP&A — giving you one source of truth for all reporting.

➡ Related Read:Excel-Based FP&A Software: The Ultimate 2025 Guide – Learn how Excel-first FP&A tools combine the flexibility of spreadsheets with the power of centralized databases and automation.

Conclusion

Lease accounting has gone from a footnote to a central compliance requirement. In 2025, finance leaders have plenty of options: from specialized platforms like FinQuery and Visual Lease, to AI-powered newcomers like Trullion, to flexible Excel-based solutions like PivotXL.

The right choice depends on your needs:

  • If compliance is your only priority → go with a dedicated tool.
  • If you want compliance and integrated financial reporting, all in Excel → PivotXL offers unmatched flexibility.