Counselytics VS Cradle Accounting

Remove the guesswork and stress that comes with accounting under the new lease accounting standards ASC 842 and IFRS 16. Cradle provides the only turnkey solution on the market that you can implement today, visit our website and sign-up online now.

Some of Cradle's features are the following: - All financial reports and disclosures: Cradle produces all financial reports, which can be run for any date range. Furthermore, Cradle has the required disclosure reports set out by the lease accounting standard.

• Consolidated Accounting: Cradle replicates the principles of consolidation accounting. At month-end, have the flexibility to run reports at the agreement, subsidiary, or consolidated level.

• Search: Find your leases from various inputs (e.g., commencement date or custom fields).

• Modification Accounting: Add a modification, and Cradle does the accounting in compliance with the applicable standard. Also, Cradle logs all modifications ensuring every user has visibility over the changes to the lease portfolio.

• Foreign exchange: Upload the foreign exchange rates, and Cradle handles the rest.

• Custom Fields: Capture any data related to your lease portfolio. Have the ability to run reports on this data and export.

Reminders: Set up email reminders to ensure no key lease events are missed.

• Secure Access: Multiple users can safely access anywhere around the world, restricted to the permission levels you dictate.