CoSupport AI
What is Spacebase?
Spacebase offers a modern solution for managing complex lease portfolios and ensuring lease accounting compliance. The platform is engineered for organizations seeking to centralize real estate and accounting data, automate critical workflows, and enhance collaboration across teams. With features like automated lease classification, customizable journal entries, and integration with existing AP systems, Spacebase supports compliance with ASC 842 and IFRS 16 accounting standards while making it easy to manage rent, critical dates, and reporting requirements.
This user-centric system provides a single source of truth for all lease and accounting data, ensuring accuracy and timeliness in financial operations. Custom reporting capabilities, streamlined invoice validation, and robust controls deliver added efficiency and data integrity, giving organizations confidence in their real estate decision-making process and financial transparency.
Features
- Lease Management: Centralizes lease data and enables collaboration across teams.
- Automated Lease Accounting: Supports compliance with ASC 842 and IFRS 16 standards.
- Invoice Validation and Payments: Simplifies invoice approval and integrates with AP systems.
- Headcount Tracking: Allows integration with HCIM to monitor headcount and utilization.
- Custom Reporting: Enables custom reports and data exports for team-specific needs.
- Critical Date Tracking: Manages all critical dates and option notice periods.
- Controls and Approval Workflows: Ensures reviews and approvals for secure accounting operations.
- Custom Journal Entries: Supports export in formats compatible with major accounting systems.
Use Cases
- Automating compliance with lease accounting standards like ASC 842 and IFRS 16.
- Centralizing and managing corporate real estate lease portfolios.
- Tracking and managing critical dates for leases and option periods.
- Validating, approving, and exporting lease payment invoices.
- Creating and exporting custom financial reports for internal and external stakeholders.
- Monitoring headcount and facility utilization with data integration.
- Streamlining lease administration and reducing manual tracking errors.
FAQs
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What accounting standards does Spacebase support?
Spacebase supports compliance with ASC 842 and IFRS 16 lease accounting standards. -
Can Spacebase integrate with AP and HCIM systems?
Yes, Spacebase offers integration options with accounts payable (AP) and headcount integration management (HCIM) systems. -
Is Spacebase suitable for managing large lease portfolios?
Spacebase is designed to handle both small and large lease portfolios, providing a single source of truth and scalable workflows.
Helpful for people in the following professions
Spacebase Uptime Monitor
Average Uptime
100%
Average Response Time
558.36 ms
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