Sophisticated Accounting, Simple to Use
What do you like best?
UGAAP competently handles our complicated lease accounting scenarios such as multi-currency re-measurement, translation and consolidation, step-leases, modification, transition with multiple approaches and impairments. Their support staff are knowledgeable CPAs regarding new and old accounting standards. The software saves us tons of hours and headaches by automating processes that would take experienced staff long time every month.
What do you dislike?
This is primarily an accounting tool, not for project management. They are adding more features for complex lease admin functions. Currently the software can serve as lease document depositories. They have functions such as key dates alert, forecast report, rent report and visual chart. Their flagship is on-premises, and they are rolling out their SaaS version.
Recommendations to others considering the product:
Leave plenty of time for implementation.
What problems are you solving with the product? What benefits have you realized?
ASC 842 and IFRS 16 compliance: periodic journal entries and disclosure reports and management reports.
