Vendor Relationship Management: Leases
Have you been managing your leases in an Excel spreadsheet? Excel is neat (formulas and macros are handy) but what if you could see all your leases in Intacct like this on a dashboard:
From a high level you can easily see:
- Which Vendors you have lease agreements with.
- What you’re leasing
- When the inception date was
- How many products you are leasing
- Rolled up total monthly payment to that Vendor for all products
Then, when you drill down, you see a view like this that gives you more specifics on the products being leased:
Which includes information such as:
- The Product Name
- Contract Number
- Beginning and Ending Lease Dates
- Monthly Payment
- Lease Term (months)
- Total Product Contract Amount
Drill down further? See more details and the payment schedule related to the product:
Even better? The user who entered this lease simply entered the top header section and the payment schedule was generated automatically for them (preventing the possibility of data entry errors)!
Curious about how you can move your leases to Intacct? We’re happy to help! Feel free to reach out to your CLA Intacct team!
Kathy Jastrzebski is a manager with CLA’s Intacct team. CLA is an Intacct Premier Partner with a partnership that spans over 20 years and more than 1,000 successful implementations. Kathy brings five years of accounting experience along with seven years of Sage Intacct implementation experience. Along with her accounting experience, she has a passion for leveraging technology to lead finance teams worldwide through system implementations with a mission of increasing department efficiency through business process improvements.
Thank you very much for sharing. This insight is great..