What is lease accounting software?

Software that stores lease contracts and their terms, calculates the schedules a lease standard requires (right-of-use assets, lease liabilities, interest and amortization or straight-line expense), and produces journal entries and disclosure reports. The tools listed here also use AI, mostly to abstract terms from lease documents.

What does ASC 842 software do?

It applies the FASB's lease standard, under which lessees recognize most leases on the balance sheet as a right-of-use asset and a lease liability. The software builds the schedules and entries from each lease's terms. Check each listing for the standards a vendor says it supports.

What is AI lease abstraction?

Reading a lease contract and pulling out the terms that drive the accounting, such as commencement date, term, payments, escalations and renewal options. AI speeds up the first pass; the extracted terms should be confirmed by a person before they drive schedules.

What is AI lease abstraction?

Software that reads lease contracts and amendments and proposes the key terms that drive lease accounting, such as commencement date, term, payments, escalations and options, for a person to confirm before the terms are used in schedules.

Can AI do ASC 842 lease accounting?

Lease accounting software performs the ASC 842 calculations; AI features mainly help extract the inputs from lease documents. Judgments such as whether a renewal is reasonably certain remain with the accounting team.

Lease accounting software with AI: ASC 842 and IFRS 16

Lease accounting software calculates schedules and journal entries under ASC 842, IFRS 16 and GASB 87. AI features mostly appear in abstraction: reading lease contracts and pulling out dates, payments and options for a person to confirm.

5 tools listed. Last updated October 14, 2026. How we verify

5 of 5 tools

Lease accounting software with AI: ASC 842 and IFRS 16, alphabetical. Tools appear in each area they document, so some also appear elsewhere.
Vendor	Customers	Ledgers	SOC 2	Trains on data	Human review	Pricing	Verified
FinQueryLease accounting	Small business, CPA firms, Mid-market, Enterprise	NetSuite	Unconfirmed	Yes	Human review	Not public	Oct 14, 2026
NakisaLease accounting	Enterprise	None documented	Type II	Unconfirmed	Human review	Not public	Oct 14, 2026
OccupierLease accounting	Unconfirmed	NetSuite	Unconfirmed	No	Human review	Not public	Oct 14, 2026
TrullionLease accounting	CPA firms	NetSuite	Unconfirmed	No	Human review	Not public	Oct 14, 2026
Visual LeaseLease accounting, by CoStar Group	Enterprise	None documented	Unconfirmed	No	Human review	Not public	Oct 14, 2026

Checked against the linked official source on the date shown.
Unconfirmed: we could not find an official statement.

What the listings show

Of the 5 lease accounting tools listed, 1 states that it holds a SOC 2 Type II report, and 3 publish a policy saying customer data is not used to train AI models. 0 publish prices. Everything else is marked unconfirmed until the vendor says so in writing.

Which ledgers they work with

Integrations each vendor documents with QuickBooks Online (QBO), Xero, NetSuite, Sage Intacct (Intacct) and Microsoft Dynamics. A dash means none is documented, not that one is impossible.

Lease accounting software with AI: ASC 842 and IFRS 16: documented ledger integrations
Vendor	QBO	Xero	NetSuite	Intacct	Dynamics
FinQuery	–	–		–	–
Nakisa	–	–	–	–	–
Occupier	–	–		–	–
Trullion	–	–		–	–
Visual Lease	–	–	–	–	–

Where AI fits in lease accounting

Lease accounting software calculates right-of-use assets, lease liabilities, amortization schedules and journal entries under ASC 842, IFRS 16 and, for governments, GASB 87. Those calculations are deterministic: given the right inputs, the schedule follows. AI doesn't change the math.

Where AI helps is upstream, in lease abstraction. A real estate or equipment lease can run to dozens of pages, with the terms that drive the accounting scattered through amendments and exhibits. AI abstraction reads the documents and proposes the inputs: commencement date, term, payments and escalations, renewal and termination options, and the parties.

AI lease abstraction: what still needs a person

An abstraction error flows straight into the balance sheet, so the review step matters more than the extraction speed. Look for tools that show each extracted field next to the lease language it came from, and that require someone to confirm terms before they drive a schedule.

Some inputs are judgments rather than facts in the document. Whether a renewal option is reasonably certain to be exercised, and which discount rate applies, are accounting decisions. A tool can surface the clause; it can't make the call.

Choosing lease accounting software with AI features

Standards. Confirm support for each framework you report under: ASC 842, IFRS 16, GASB 87 or GASB 96 for subscription arrangements.
Portfolio size. Some products are built for a handful of leases, others for thousands of locations and equipment schedules.
ERP integration. Check whether journal entries post to your ERP directly or export for upload.
Audit support. Ask what reports the tool produces for your auditors, and whether it holds a SOC 1 report covering the calculation engine, which matters for public companies.

Lease accounting software with AI: ASC 842 and IFRS 16: questions

What is lease accounting software?: Software that stores lease contracts and their terms, calculates the schedules a lease standard requires (right-of-use assets, lease liabilities, interest and amortization or straight-line expense), and produces journal entries and disclosure reports. The tools listed here also use AI, mostly to abstract terms from lease documents.
What does ASC 842 software do?: It applies the FASB's lease standard, under which lessees recognize most leases on the balance sheet as a right-of-use asset and a lease liability. The software builds the schedules and entries from each lease's terms. Check each listing for the standards a vendor says it supports.
What is AI lease abstraction?: Reading a lease contract and pulling out the terms that drive the accounting, such as commencement date, term, payments, escalations and renewal options. AI speeds up the first pass; the extracted terms should be confirmed by a person before they drive schedules.
What is AI lease abstraction?: Software that reads lease contracts and amendments and proposes the key terms that drive lease accounting, such as commencement date, term, payments, escalations and options, for a person to confirm before the terms are used in schedules.
Can AI do ASC 842 lease accounting?: Lease accounting software performs the ASC 842 calculations; AI features mainly help extract the inputs from lease documents. Judgments such as whether a renewal is reasonably certain remain with the accounting team.

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See also AI in accounting and the full directory.