Why is lease accounting more challenging for private equity firms?

Lease accounting is more complex in private equity because each portfolio company uses different systems, policies, and reporting processes. This creates consolidation difficulties, increases compliance risks, and slows ASC 842 or IFRS 16 reporting.

How can private equity firms improve multi-entity lease consolidation?

Private equity firms can improve multi-entity consolidation by centralizing lease data into a single platform that standardizes reporting, validates entries automatically, and provides real-time visibility across all subsidiaries. This removes manual reconciliations and reduces errors.

What are the risks of managing lease accounting with spreadsheets?

Using spreadsheets increases the risk of data inconsistencies, version control issues, delayed closes, inaccurate calculations, and audit findings. It slows decision-making and makes ASC 842 compliance harder to maintain across a private equity portfolio.

How does centralized lease accounting help with ASC 842 compliance?

Centralized lease accounting systems enforce consistent accounting policies across subsidiaries, automate ROU asset and liability calculations, and maintain accurate journal entries. This shortens close cycles and provides audit-ready documentation.

What features should private equity firms look for in a lease accounting system?

Private equity firms should look for features such as multi-entity capabilities, automated calculations, real-time consolidated reporting, ASC 842/IFRS 16 compliance tools, complete audit trails, ERP integrations, and flexible control levels for subsidiaries and the parent firm.

Lease Accounting Software. Service Areas.

Every business operates differently, and when it comes to lease accounting, a one-size-fits-all solution simply doesn’t work. At Black Owl Systems, we take a consultative approach to help you not only meet today’s compliance needs but to prepare for tomorrow’s growth.

Empowering Calgary’s Financial Leaders: Your Trusted Partner in Lease Accounting

At Black Owl Systems, we believe that lease accounting should be more than a compliance necessity—it should be a strategic advantage. Based in the vibrant city of Calgary, we’re proud to support local and national companies in transforming how they manage leases. From small enterprises to multi-location corporations, we provide flexible, innovative, and easy-to-use solutions tailored to each client’s unique challenges.

Our Service Areas.

Calgary

Edmonton

Houston Texas

Vancouver

Toronto

Why Calgary Chooses Black Owl Systems: Local Insight, Global Standards

Operating from the economic heart of Alberta, we understand the specific challenges faced by Calgary businesses. Whether you’re part of the city’s dynamic energy sector, expanding retail operations, or a service-based company navigating lease complexities, our team has the local knowledge and industry insight to support your journey. Black Owl Systems is more than a software provider—we’re an active part of the Calgary business community, offering solutions that align with regional priorities while meeting the highest national and international standards.

Create, Modify or Retire a Lease in Minutes.

Create new leases in minutes. Stop waiting for journal entries and reports. Perform lease modifications in minutes

Lease Entry

Intuitive design
Create new leases in minutes
Input validations

Lease Change

Multi-currency

Works with all ERPs

Detailed Audit Trails

Secure and Scalable

Lease Accounting Solutions for Your Business

Month-End Close doesn’t have to be stressful.

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.

Rooted in Calgary, Built for the Future: Driving Innovation in Lease Accounting

Calgary is a city that thrives on innovation, resilience, and adaptability—values we share at Black Owl Systems. Our headquarters in Calgary not only places us close to our clients, but also allows us to be responsive to local trends, industry-specific challenges, and regulatory shifts in real time. Whether your business is located downtown or operating across Western Canada, we deliver the same high level of service and expertise with a local touch.

We see ourselves not just as a software provider but as a true partner in your financial operations. As industries in Calgary continue to evolve, especially with the growth of digital transformation in finance and operations, Black Owl Systems is committed to staying ahead of the curve. We continually update our platform, enhance our features, and listen to client feedback to ensure our solution is always aligned with the real-world needs of Calgary’s business leaders.

Your Lease Accounting Partner Starts Here: Let’s Build Smarter Together

The first step toward a better lease accounting system starts with a conversation. Whether you’re seeking to replace outdated processes, reduce compliance risks, or simply get more value out of your current workflows, Black Owl Systems is here to help. Our team will work closely with you to assess your current state, identify specific goals, and create a tailored roadmap toward operational efficiency and financial clarity.

We believe in building partnerships that last—rooted in trust, driven by results, and powered by technology that actually works for you. Our clients appreciate not only our software’s capabilities, but also our personalized service, transparent approach, and unwavering commitment to their success.

Reach Out Today

Ready to simplify lease accounting and regain control of your financial data? Contact us today for more information. Let’s explore how we can build a smarter, more compliant, and more cost-effective lease accounting strategy for your business in Calgary and beyond.

Proven By Finance Teams.

Scott

Manager of Finance, Portfolio Investments in Canada

"We are a private equity firm with 13 operating companies and over 200 leases / subleases in multiple currencies which we previously tracked manually in excel. The Black Owl software helped streamline our processes, removed the burden and frustrations of manual spreadsheets and freed up time in our month-end and quarter end. We felt well supported during the entire implementation process and have been very impressed with the ongoing customer service. The software has a great look and feel and is very intuitive to use. Creating a new lease is quick and easy and the push button reporting functions have simplified our month-end and quarterly disclosures. Being the administrator of the software, I like how straightforward adding companies and updating the master data is. Overall we have been very impressed with the software and the team at Black Owl and would recommend it to anyone whose dealing with the frustrations created by the new leasing standard."

Shekayla

Finance

"Making the move to Black Owl has been a huge time saver for our companies' lease accounting process, as we no longer need to rely on tedious spreadsheets to track and manage our leases. Our month-end reconciliation process has been vastly improved, and our lease reporting has become seamless. From the beginning of our implementation, their support team has always been incredibly responsive and helpful anytime we have a question or need assistance. We would absolutely recommend Black Owl to any company looking to enhance their lease accounting."

William

Senior Partner in Canada

"Communication with the Black Owl team from executives down to the consulting level was easy and responses to our questions were addressed on a timely basis. Features and functionality demonstrated were either delivered out of the box during implementation or addressed very quickly at our request."

4.7 out of 5

Read all reviews on Capterra.

Frequently Asked Questions.

Our advanced Lease Accounting Software is designed to transform the way you manage and streamline your lease accounting practices.

What is the minimum number of leases required to use lease accounting software?

We recommend using lease accounting software when you manage 10 or more leases. With a growing lease portfolio, software helps ensure accurate lessor journal entries, supports the straight-line method of depreciation, generates lease amortization schedules, and improves compliance and audit readiness under standards like ASC 842 and IFRS 16.

Why should I consider switching from my current lease accounting solution for ASC 842 or IFRS 16 to a new system?

Switching to Black Owl from Excel or a basic system streamlines your month-end accounting with greater speed and accuracy. Our platform reduces risk, automates operating and finance lease journal entries, and ensures compliance with ASC 842 and IFRS 16, saving time while enhancing transparency.

Does Black Owl meet SOC standards?

Yes. Black Owl is SOC 1 Type 2 and SOC 2 Type 2 certified, providing assurance in system security, availability, and processing integrity, essential for companies handling lease software in regulated environments.

What is the timeline for deploying Black Owl?

Deployment typically takes 4 to 8 weeks, depending on data readiness. Whether you’re switching from Excel, legacy software, or a corporate ERP, our team supports every step, from setup to configuring lease amortization schedules and straight-line depreciation formulas.

Additionally, we collaborate with several partner companies who can offer consultative services to help overcome any limitations you may face during the adoption phase.

What is Lease Accounting Software?

Lease accounting software helps companies comply with standards like ASC 842 and IFRS 16 by automating calculations for finance and operating lease journal entries, supporting straight-line depreciation, and generating precise lease amortization schedules. It’s a critical tool for software leasing companies in Calgary and beyond.

As a leading provider of lease management software, we deliver powerful features that simplify the oversight of complex lease portfolios. Our platform supports property managers, real estate investors, and private and public companies in managing leases with greater accuracy, efficiency, and control.

What is the New GAAP for Leases?

The latest standards, ASC 842 (FASB), IFRS 16 (IASB), and GASB 87, require more leases to be reflected on the balance sheet. This affects how businesses recognize assets, liabilities, and use tools like the straight-line depreciation method and journal entries for lessors.

Still have questions?

If you have any other questions or need further information, don’t hesitate to contact us. We are here to help you!

Lease Accounting Software. Service Areas.

Empowering Calgary’s Financial Leaders: Your Trusted Partner in Lease Accounting

Our Service Areas.

Why Calgary Chooses Black Owl Systems: Local Insight, Global Standards