If you’re part of an accounting team, you probably know the feeling that comes with month-end close all too well. What should be a routine process often turns into a race against the clock – reconciling accounts, double-checking journal entries and making sure every lease is accounted for under standards like ASC 842 and IFRS 16. For organizations managing large lease portfolios, the pressure only grows as teams juggle amortization schedules, variable payment adjustments and countless spreadsheets. That’s why more finance teams are turning to lease accounting software to simplify the process, reduce manual work and close the books with greater speed and confidence.

The Manual Close Bottleneck

In a traditional close process, lease data lives in spreadsheets scattered across departments. Every month, accounting teams must gather updated lease information, manually calculate right-of-use asset balances and lease liabilities, generate journal entries and verify that everything ties back to the general ledger. This workflow is not only time-consuming but inherently error prone. A single mis-keyed payment amount or overlooked lease modification can trigger a cascade of reconciliation issues that stall the close for days.

Automation at the Core

Lease accounting software eliminates these bottlenecks by automating the most labor-intensive steps in the process. Once lease terms are entered into the system, the software continuously calculates amortization schedules, interest expense and liability balances according to the applicable accounting standard. When the close period arrives, journal entries are generated automatically and can be posted directly to the general ledger through ERP integrations. What once required hours of manual calculation now happens in seconds.

Centralized Data, Fewer Surprises

One of the most significant time savings comes from centralization. Rather than chasing down lease documents and amendments from property managers, procurement teams and regional offices, all lease data resides in a single platform. Modifications, renewals and terminations are recorded in real time, so the accounting team is never working with stale information. This visibility dramatically reduces the back-and-forth communication that typically delays the close.

Built-In Compliance and Audit Readiness

Compliance verification is another area where software accelerates the timeline. Lease accounting platforms are designed to apply the rules of ASC 842, IFRS 16 and GASB 87 consistently across every lease in the portfolio. Disclosure reports, roll-forward schedules and footnote-ready summaries are produced on demand. Instead of spending the final days of the close period reviewing calculations for compliance, teams can trust that the outputs already meet the standard. This also simplifies the audit process, reducing the time auditors spend requesting supporting documentation.

Measurable Impact on Close Timelines

Organizations that implement lease accounting software, like the one provided by Yardi Corom, routinely report close time reductions of 30 to 50 percent for lease-related activities. For companies with hundreds or thousands of leases, that translates to days reclaimed every single month. Those days can be redirected toward analysis, forecasting and strategic decision-making rather than data entry and error correction.

The Bigger Picture

Reducing month-end close time is not just an operational win. It is a signal that your financial infrastructure is mature, reliable and scalable. Lease accounting software provides the foundation for that maturity, turning one of the most complex areas of compliance into a streamlined, repeatable process. For finance leaders looking to modernize their close cycle, it is one of the highest-impact investments available.

Yardi Corom is built for CRE tenants managing exactly this kind of complexity. It handles both lease types under ASC 842, IFRS 16 and GASB standards, centralizes lease and sublease data, and integrates with your existing financial systems. If you’re ready to move beyond spreadsheets, visit our website or schedule a meeting with the Corom team.