iLeasePro, the cloud-based ASC 842 lease accounting solution, joined the Acumatica Development Network. The integration of these two solutions will provide mid-market firms that lease real estate or equipment assets the ability to automatically generate journal entries from iLeasePro and upload directly into the Acumatica General Ledger to support the adoption of the FASB ASC 842 lease accounting standard. The integration will also increase operational efficiencies and decrease costs associated with the ongoing management of a lease portfolio.

“With this exciting partnership, Acumatica customers now will have access to an intuitive, cost-effective lease accounting solution that will simplify the transition to the FASB ASC 842 standard,” John Meedzan, managing partner at iLease Management, said. “The integration automates and streamlines accounting and reporting processes, reducing human error and maximizing efficiency without a long-term contract required.”

“We are pleased to welcome iLeasePro to the Acumatica Development Network and look forward to a successful partnership,” Christian Lindberg, VP of partner solutions at Acumatica, said. “The Acumatica ISV ecosystem offers a wide range of specialized extensions to provide the industry-specific solutions our current and future users want and need to meet their specific business requirements with best-in-class, end-to-end solutions.”