iLeasePro Empowers Companies with ASC 842 Lease Accounting Compliance and Significant Cost-Saving Benefits

iLeasePro simplifies ASC 842 compliance while cutting audit costs, reducing errors, and delivering measurable savings across lease portfolios.

BEVERLY, MA, UNITED STATES, September 9, 2025 /EINPresswire.com/ -- iLease Management LLC, developer of the cloud-based lease accounting and management platform iLeasePro, announced today the expansion of its feature set designed to help companies simplify ASC 842 lease accounting compliance while achieving measurable cost savings across their lease portfolios.

With ASC 842 requiring all leases to be recorded on the balance sheet, many organizations have faced increased administrative burden, higher audit fees, and risk of noncompliance. iLeasePro addresses these challenges by delivering an affordable, audit-ready solution that streamlines every step of lease management and accounting, from abstraction through disclosure reporting.

Key ASC 842 features of iLeasePro include:
- Automated Amortization Schedules — Instantly generate accurate Right-of-Use (ROU) asset and lease liability schedules.
- Journal Entry Creation — One-click postings that integrate with ERP and general ledger systems.
- Disclosure Reporting — Complete ASC 842 financial statement footnote disclosures ready for audit.
- Lease Portfolio Management — Centralized control over real estate, equipment, and vehicle leases with critical date alerts.
- Audit-Ready Controls — Built-in transparency ensures faster audits and fewer adjustments.

Beyond compliance, iLeasePro delivers measurable cost savings to clients by:
- Reducing Audit Fees — Pre-formatted disclosures and audit-ready schedules minimize external auditor time.
- Eliminating Spreadsheet Errors — Automation prevents costly misstatements and restatements.
- Enhancing Negotiation Leverage — Lease portfolio visibility empowers companies to renegotiate unfavorable terms.
- Cutting Administrative Hours — Automated workflows free finance teams to focus on strategic priorities.

“ASC 842 has transformed lease accounting from an afterthought into a material area of compliance and risk,” said John Meedzan, CEO of iLease Management. “With iLeasePro, companies not only achieve compliance—they also save money. Our clients consistently see lower audit costs, reduced risk exposure, and stronger decision-making when they bring their lease data into our platform.”

iLeasePro is designed for companies of all sizes, from private organizations navigating their first audit under ASC 842 to mid-market enterprises managing complex lease portfolios. By combining regulatory compliance, financial accuracy, and operational cost savings, iLeasePro offers a complete solution that simplifies the path forward.

About iLease Management
iLease Management LLC is the developer of iLeasePro, a cloud-based lease management and accounting software solution built specifically for compliance with ASC 842. The platform delivers automation, accuracy, and cost savings across lease abstraction, amortization, journal entry generation, disclosure reporting, and portfolio analysis. iLeasePro serves clients across healthcare, construction, transportation, higher education, and not-for-profit industries.

For more information, visit https://www.ileasepro.com.

John Meedzan
iLease Management LLC
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