TURBO-Lease will quickly streamline the Lessors servicing of an equipment or vehicle lease portfolio. The system can handle both consumer leases and commercial leases. For lease accounting, ASC 842 rules are followed for the amortization of unearned income for a capital lease. Rental income and depreciation are reported for an operating lease. TURBO-Lease can calculate payoffs taking either lease accounting approach. FASB91 is followed for Initial Direct Cost. Residuals are easily reported, adjusted and can be billed at a time of your choosing. Leases may be renewed or extended.
The Lease Accounting Software system produces over 80 stock reports. We offer custom lease report writing services for an hourly rate. Valuable customer payment history data may be exported to the commercial and personal credit bureaus. Quickly track delinquency with aging reports and system calculated late fees. Stay current with insurance expirations and collection notes.
Efficiently bill your customer using ACH, via email or with paper invoices / statements. Data entry is fast and easy with one screen used for lease booking and one screen for lease payment receipt.
TURBO-Lease Accounting Software is a desktop application that can be installed either as a single user, on a network or can be hosted on a cloud server. The system is easy to use, yet its power, flexibility, and completeness is surprisingly affordable.