Posted Date : December 03,2021
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : SW-51142
Government Authority located in Arkansas; USA based organization looking for expert vendor for lease accounting and management software.
[A] Budget: Looking for Proposals
[B] Scope of Service:
Vendor needs to provide lease accounting and management software
- Adheres to all accounting requirements under GASB 87, including the recognition and accounting for the deferred inflow of resources and the lease receivable.
- Allows for balances to tie from high level disclosures to detailed reports, individual leases and amortization schedules.
- Calculates the journal entries needed to transition existing leases to the new accounting standard, including the present value of the lease to be reported.
- Appropriately accounts for lease modifications by prospectively adjusting the lease liability and asset.
- Automatically generates the journal entries related to modifications and other reassessment events that require remeasurements of the lease liability.
- Handles lease actions required under GASB 87 (i.e., modify, terminate, renew and impair).
- Tracks lease history and provide an audit trail for any lease changes.
- Properly accounts for payments that are fixed versus variable.
- Provides reports for account balance reconciliations.
- Provides standard reports to address the disclosure requirements of GASB 87.
- Provides comparative financial statements required under the GASB 87 transition guidance.
- Provides an opening balance sheet report for all former operating leases that are recorded on the Statement of Net Position under GASB 87.
- Provides continuing disclosure requirements.
- Prepares the details of the lease agreement to be included in the notes to the financial statements, including a schedule of future lease payments, if applicable.
[C] Eligibility:
Onshore (USA organization Only)
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office premises.
Budget :
Deadline to Submit Proposals: December 23,2021
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : SW-51142
Government Authority located in Arkansas; USA based organization looking for expert vendor for lease accounting and management software.
[A] Budget: Looking for Proposals
[B] Scope of Service:
Vendor needs to provide lease accounting and management software
- Adheres to all accounting requirements under GASB 87, including the recognition and accounting for the deferred inflow of resources and the lease receivable.
- Allows for balances to tie from high level disclosures to detailed reports, individual leases and amortization schedules.
- Calculates the journal entries needed to transition existing leases to the new accounting standard, including the present value of the lease to be reported.
- Appropriately accounts for lease modifications by prospectively adjusting the lease liability and asset.
- Automatically generates the journal entries related to modifications and other reassessment events that require remeasurements of the lease liability.
- Handles lease actions required under GASB 87 (i.e., modify, terminate, renew and impair).
- Tracks lease history and provide an audit trail for any lease changes.
- Properly accounts for payments that are fixed versus variable.
- Provides reports for account balance reconciliations.
- Provides standard reports to address the disclosure requirements of GASB 87.
- Provides comparative financial statements required under the GASB 87 transition guidance.
- Provides an opening balance sheet report for all former operating leases that are recorded on the Statement of Net Position under GASB 87.
- Provides continuing disclosure requirements.
- Prepares the details of the lease agreement to be included in the notes to the financial statements, including a schedule of future lease payments, if applicable.
[C] Eligibility:
Onshore (USA organization Only)
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office premises.
Budget :
Deadline to Submit Proposals: December 23,2021
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$