Equipment Lease Administration
Lease administration for non-real estate assets is unique and different. The more global and decentralized your operations, the more complex the situation becomes. New quarterly and annual lease accounting calculations cannot be completed without data from this important activity.
is the Foundation
Decentralized equipment leasing activities often result in incomplete or sometimes missing, or non-existent lease files. Without a centralized process, you might discover hard copy leases sitting in file cabinets, desk drawers or in electronic form on individual computers. Leases must be located, collected, and identified to properly capture and support the data needed to effectively administer these portfolios and comply with financial reporting standards. The effort required might mean seeking outside assistance from professionals who understand how to best accomplish the task.
The key is to assemble a team of professionals that understand the equipment industry and can seamlessly integrate with your accounting, procurement, and operations functions. This requires a unique blend of industry, lease administration, legal, and accounting knowledge. Their methods are flexible, nimble, and able to work within your unique business structure and internal control policies. The team should be your trusted partner, not just your service provider.
Scribcor’s team of professionals understand the industry and bring a fresh perspective to your lease administration needs. Our team understand the documents, concepts and business situations that you encounter daily. Lease abstraction, lease administration and data integrity are their sole focus. That, combined with our industry knowledge, ensures that we bring the best solutions to your leased asset portfolios.