The LeaseWave® lease management software system allows users to flexibly and comprehensively account for installments or delivery of equipment even before the lease begins. Interim rent, in whatever payment structure, calculation method and amount required, can be assessed on every installed or delivered piece of equipment. Based on these factors and user-defined business rules, the lease accounting software system automatically assesses interim rent.
In many industries, especially in today's IT market, lessees often begin using equipment before the commencement of the lease. Contracts can include multiple pieces of equipment, all delivered at different times, with the completion of installation at an arbitrary moment in time, signaling the commencement of the lease. LeaseWave®’s comprehensive lease accounting software system seamlessly accounts for all receivable types assessed on the installation of assets prior to the commencement of the lease.
Once leases are ready to be commenced, users simply have to fill in the relevant contract information and the lease is incepted in the lease management system. The air-tight inventory management system easily takes care of ensuring that each asset is now documented in a specific contract, generating the relevant lease accounting transactions and desired documentation. Moreover, users can ensure that interim rents have been billed accurately through the lease commencement date. Additionally, the system has the ability to reverse, en masse, any interim rents billings required.