Black Owl Systems provides a cloud-based lease accounting platform that supports both lessee and lessor accounting under major standards like ASC-842, IFRS-16, and ASPE-3065. The platform enables quick lease entry, manages changes, and generates necessary journal entries and amortization schedules. It also supports sales-type, direct financing, operating leases, automated interest/depreciation calculations, sub-lease management, and multi-entity/multi-currency portfolios. Black Owl Systems emphasizes automation, compliance, audit readiness, and operational efficiency in managing lease portfolios.
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Support for ASC 842 (lessee & lessor)Support for IFRS 16 (lessee & lessor)Support for ASPE 3065Automated journal entries generationMonth-end close in minutesMulti-currency support with daily FX rate importsMulti-entity management (multiple companies, coding structures)Lease cost allocations (multiple cost centres/ventures)Custom attributes for leasesMass upload and re-mapping of lease/master dataLease entry screen – intuitive input of lease dataLease change screen – modifications & reassessments (current & retroactive periods)Audit trail for each lease change and version controlIntegration with ERP/general ledger systems (any ERP)Reporting: disclosure reports (asset continuity, liability maturity, cash flows)Reporting: management reports (account balance by lease, vendor reconciliation, roll-forward)Lease administration features (notifications, reminders, end-of-term management)Multi–standards compliance (US GAAP, IFRS, Canadian ASPE)Impairments & terminations handlingDepreciation methods: straight line, declining-balance, unit-of-productionBooking methods aligned with AP bookings/budget processesSub-lease supportCustomizable dashboards and ad-hoc reportingRapid implementation (weeks rather than months)Secure cloud-platform (SOC 1 Type 2 & SOC 2 Type 2 certified)EmailHelp DeskFAQsForumCloud, SaaS, Web-BasedDesktop - MacDesktop - WindowsMobile - AndroidMobile - iPhone
Black Owl
By Black Owl Systems Inc
