
Lessee
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Operating Lease
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Finance Lease
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Low Value
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Non Lease Contracts
Lessor
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Sales-type
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Direct Financing
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Operating Lease
Lease Entry in Minutes
- Black Owl's lease entry features a user-friendly interface and intuitive navigation. Input and manage lease data in minutes.
Lease Change
- Deferring modifications and reassessments is a thing of the past.
- Lease modifications and reassessments takes only minutes.
- Manage lease changes with ease for both current and retroactive periods maintaining strong audit trails backed by detailed journal entries.
Out-of-the-Box Reporting
Generate journal entries and reports in seconds.
Disclosure Reporting
- Asset Continuity
- Liability Maturity Analysis
- Expense Income
- Cash Flows
- Weighted Average (ASC 842 Only)
- Receivable Maturity Analysis
Management Reporting
- Account Balance by Lease
- Vendor Reconciliation
- Liability Continuity
- Cash Flow
- Maturity Analysis
- Roll Forward by Companies
Lease Administration
- Custom Attributes
- Customizable Reports
- Notifications and Reminders
Disclosure Reporting
- Asset Continuity
- Liability Maturity Analysis
- Expense Income
- Cash Flows
- Weighted Average (ASC 842 Only)
- Receivable Maturity Analysis
Management Reporting
- Account Balance by Lease
- Vendor Reconciliation
- Liability Continuity
- Cash Flow
- Maturity Analysis
- Roll Forward by Companies
Lease Administration
- Custom Attributes
- Customizable Reports
- Notifications and Reminders
Multi-Currency Functionality
- Automatic Daily Foreign Exchange Rate Imports
- Streamline currency conversions for both functional and reporting needs
- Automate FX journal entry calculations
- Cumulative Translation Adjustments (CTA) seamlessly into your accounting process
- Daily foreign exchange rates are automatically imported from any selected financial institution, facilitating automatic currency conversions for functional and reporting purposes.
- This functionality further includes the calculation of month-end journal entries and the Cumulative Translation Adjustments (CTA).

Fast, Stress Free
Implementation
- Small businesses can be up and running within weeks
- Larger organizations typically be live in one to two months
- Our cloud platform can be delivered, ready to load leases in days
- Ready-to-go templates to load your master data and existing leases
- Our accounting experts guide you every step of the way
Advanced Lease Management.
Enhance your workflow with advanced features, from sublease management to automation and beyond.
Sublease
Easily create and track sublease agreements, including multiple levels of subleases.
Bulk Uploads
Mass load template with built-in validations for master data and lease information.
Data Security
Black Owl’s system provides world-class enterprise security measures to ensure that lease accounting data is protected.
Variable Costs
Variable cost lease agreements can be tracked and units consumed updated in our easy to use month-end close step.
Custom Attributes
Customizable fields to match specific business needs for managing your entire lease portfolio.
Customized Reports
Create ad hoc reports to manage all aspects of you lease portfolio.
Automation & Workflow Management
Manage terms and conditions with user defined notifications

Comprehensive Lease Accounting Solutions
Keep month-end stress-free.
Whether you are a small company with a limited number of leases or a large organization with a vast lease portfolio, our software provides a seamless and user-friendly interface to ensure your lease accounting remains well-managed.
- sales@blackowlsystems.com
- Suite 1100, 639 5 Ave SW, Calgary, AB T2P 0M9
Frequently Asked Questions
Our advanced Lease Accounting Software is designed to transform the way you manage and streamline your lease accounting practices. Our software solution is tailored to assist you in maintaining compliance with new lease accounting standards while making the process simpler, faster, and more efficient.
ASC 842, the new lease accounting standard, responds to the request for more transparency in companies’ lease accounting and financial reporting.
Before the advent of ASC 842, most leases, mainly operating leases, didn’t make their way onto the balance sheet. This obscurity left stakeholders with a blurred picture of a company’s financial health.
The primary difference between ASC 842 and its predecessor, ASC 840, is the recognition of lease assets and lease liabilities by lessees for most leases. ASC 840 allowed many leases, especially operating leases, to be only disclosed in the notes to the financial statements, whereas ASC 842 requires them to be recognized on the balance sheet.
ASC 842 affects any entity that enters into a lease, with very limited exceptions. This includes both lessees (the entities that rent an asset) and lessors. (the entities that lease out an asset)
ASC 842 impacts the presentation of financial statements significantly. It requires lessees to recognize assets and liabilities arising from most leases on their balance sheets. This results in a more accurate representation of an organization’s financial position, by reflecting the organization’s rights to use an asset and the associated obligations.
ASC 842 became effective for fiscal years beginning after December 15, 2018, for public business entities. For private companies and private not-for-profit entities, the standard became effective for fiscal years beginning after December 15, 2021.
Implementing ASC 842 may require significant effort and resources. Challenges may include identifying all lease contracts, interpreting the standard and its implications for each lease, changes in processes and controls, updating or acquiring new IT systems, and training staff.
Luckily, we have developed Black Owl to ensure you can meet compliance with ease.