<img alt="" src="https://secure.hall3hook.com/198371.png" style="display:none;">

Introduction & Background:

MichaelSilver is a full-service CPA firm specializing in audits, reviews, comps, tax returns, and valuations. Ryan Lubinski, a seasoned professional with nearly 13 years at the firm, serves as a Partner in the accounting and assurance department.

The Goal: Improved Efficiency in Lease Accounting

CPA firm MichaelSilver was looking for a solution to improve their staff’s audit experience and help their clients navigate the complexities of ASC 842. Learn how LeaseCrunch's features streamlined the lease accounting process and saved the firm valuable time.

The Challenge and the Search for a Solution

The recent adoption of ASC 842, the new lease accounting standard, presented a challenge for MichaelSilver's clients. Many lacked the internal expertise to handle the complexities of the standard on their own. To ensure a smooth transition for their clients, MichaelSilver sought a comprehensive lease accounting solution.

BlockQoute Icon Our clients needed support, and they weren't all equipped to navigate the complexities on their own. We formed a committee of four audit professionals to pinpoint the ideal software. After rigorous demos, LeaseCrunch was a clear standout."

Ryan Lubinski

MichaelSilver Chooses LeaseCrunch

After evaluating various software options, MichaelSilver selected LeaseCrunch. Key factors in their decision included:

  • User-friendly interface: Easy to learn and navigate for users of all experience levels.
  • In-app guidance: Tooltips, decision trees, and a knowledge base provided valuable assistance throughout the lease accounting process.
  • Streamlined lease entry: Saved time and ensured data accuracy.
  • Embedded treasury rate data: Simplified discount rate calculations.
  • Competitive pricing: Offered a cost-effective solution.
BlockQoute Icon The lease standard info built into LeaseCrunch was a game-changer. Questions like discount rates were a breeze, with treasury rates available at a click. It's user-friendly and cost-effective. LeaseCrunch was a no-brainer."

The Impact:

Since implementing LeaseCrunch, MichaelSilver has experienced significant improvements in their lease accounting practices. LeaseCrunch helped them:

  • Streamline lease entry and data collection
  • Generate accurate and timely client reports
  • Ensure a seamless transition to ASC 842
  • Improve communication and transparency with clients
BlockQoute Icon Our realization rates definitely improved,” Ryan stated. “LeaseCrunch's efficiency positively impacted our billing practices. One of our partners commented that had we not utilized LeaseCrunch, adopting the standards would have cost us an infinite amount of billable time.”

Benefits Beyond Efficiency

The benefits of LeaseCrunch extended beyond just improved efficiency. MichaelSilver's clients appreciated the clear and concise reports generated by the software, which helped simplify the complexities of ASC 842.

Future Outlook

MichaelSilver sees LeaseCrunch as a vital tool for their ongoing lease accounting needs. The software will help them manage existing leases, stay updated on any future standard changes, and onboard new clients requiring lease accounting solutions.

BlockQoute Icon The most important part when thinking how MS will utilize LeaseCrunch in the future is that no matter what changes in standards come our way, or no matter what clients we gain that require this solution, I have complete confidence that the LeaseCrunch software and team will be able to assist us. That peace of mind in a software solution is priceless.

Ryan Lubinski

Lease Accounting, Simplified

LeaseCrunch is a simple, scalable, cloud-based solution that allows CPA firms and companies to automate the new lease reporting requirements with ease.

Get A Demo Learn More

Lease Accounting Resources

Everything you need to know about the lease accounting standards.

View All Resources
Unlocking the Future of Accounting: Key Insights from BDO Alliance Evolve Conference
Read More
From Spreadsheets to Lease Accounting Software: Leave it in the Past
Read More
FASB Amends the New Lease Standard: ASU 2018-11
Read More
Help Clients With Policy Decisions in the New Lease Standard
Read More
The Hidden Costs of Clients Using Spreadsheets to Implement ASC 842
Read More
6 Reasons to Implement the New Lease Standard ASAP
Read More
Lease Accounting Software: What to Look For
Read More
Checklist: How to Identify Embedded Leases
Read More
LeaseCrunch Announces New Agreed-Upon Procedure Report
Read More
How Much Time Will You Save with Lease Accounting Software?
Read More