EZ13 - The Lease Accounting Solution for Lessees

EZ13^TM - The Lease Accounting Solution for Lessees

RELEASED August 2007: EZ13 v2.0. Stars (*) below indicate new features in this version.

Are you tired of using calculators and spreadsheets to perform the time-consuming and often confusing calculations required to comply with FAS 13 (Accounting for Leases)?

Are you looking for a more reliable way to account for your leases?

Do you find it hard to understand the FAS 13 standard?

Then discover the many benefits of using EZ13, the automated lease accounting system for lessees. It eliminates all the complexity and confusion associated with generating FAS 13 journal entries by hand and requires no prior knowledge of the standard. EZ13 will literally pay for itself with one or two uses.

EZ13 is offered by Financial Computer Systems, Inc., a company with over thirty years of experience in providing automated lease accounting solutions to major corporations throughout the United States and Canada. So call today (203) 652-1375 to place your order for EZ13. Try it risk-free for 30 days and you too will discover its many benefits.

FULLY COMPLIES WITH FAS 13, ACCOUNTING FOR LEASES:


•	Designed to account for every type of lessee transaction (lessee: the user of a leased asset, who pays rent)
•	Automatic classification and capitalized value/rate computations for every lease; including detailed results of all capital/operating tests
•	Balance Sheet and Income Statement (P&L) activity by period with ending balances presented by lease and consolidated
•	Complete footnote disclosures of future rent commitments
•	Straight-lining of rents for operating leases with scheduled rent increases (when desired)
•	Additions, early terminations, and normal termination adjustments calculated automatically
•	Catch-up accounting: A lease that started prior to the current reporting period can be added to the database with a current booking date so that prior reports are unaffected*
•	Correction terminations permitted to reverse activity previously booked*
•	Any Time Reporting: Allows you to select any time frame for reporting: past, present, or future. (Fully Year 2000 [Y2K] compliant.)
•	Land portion of rent automatically calculated for combined land & building leases*
•	Implicit interest rate calculated if unguaranteed residual entered*
•	Operating leases can be treated as capital using incremental borrowing rate (for bank indenture reporting and potential compliance with the FASB's plans for revising lease accounting regulations) or a specified rate*
•	Consolidations: Reports can be subtotaled and consolidated based on user-defined criteria
•	Complete hard copy record of lease transactions and classification criteria available for audit purposes
•	Complies with both corporate (FASB) and governmental (GASB) standards
•	Complies with Canadian lease accounting standard CICA 3065
•	Can be used to comply with International Accounting Standard 17 (IAS 17; fact sheet available describing alternate reporting required)
•	Ideal for accounting firms, corporations, and governmental bodies

EASY TO USE:


•	Requires no expert knowledge of FAS 13; manual describes how to handle various leasing situations
•	Formatted screen input. On-line Help always available
•	Reporting can be done either on the screen, on a printer, or to a file (spreadsheet, PDF, and other formats)
•	Input data verified during entry
•	Comprehensive user documentation, including text explaining all relevant sections of FAS 13 and glossary of common leasing terms
•	Also useful as a financial calculator (present values of multiple payment streams, internal rate of return, etc.)
•	Automated conversion of files from prior version of EZ13*
•	Telephone support provided by trained specialists in FAS 13
•	Customization available for specialized reports or automatic interfaces with other systems
"EZ13 paid for itself the first time I used it." - Douglas H. Lawrence, CPA

SPECIFICATIONS:

LEASE DATA:

•	Designed to account for all types of lessee leases
•	Maximum lease term: 9999 months
•	Payment period lengths allowed: Daily, Weekly, Monthly, Quarterly, Semiannual, Yearly
•	Maximum value for numeric fields: $1 billion
•	Maximum number of changes in rents (rent steps) per lease: Unlimited*
•	Maximum number of leases per file: Unlimited*
•	Precision of imputed interest rate: 12 digits*
•	Space for descriptive information: Unlimited
•	Guaranteed & unguaranteed* residual values and asset salvage values for maximum flexibility.
•	Depreciation: Straight-line, Straight line with half-year convention, 150% & 200% declining balance, or no depreciation* (other methods available as customizations)
•	Account numbers can be specified for individual leases or groups of leases, to be output on spreadsheets*
•	Pictures/scanned documents can be attached and displayed/printed*

REPORTING:

EZ13 sample income statement/balance sheet report

•	User-selectable time frame: past, present, or future; any number of periods, any length
•	Report on one lease, group of leases (based on lease number or any/all of five user-defined fields*), or all leases; capital only, operating only, or both; totals only or detail by lease
•	Balance Sheet and Income Statement (P&L) for selected time frames
•	Complete set of journal entries
•	Amortization schedules*
•	Depreciation over economic life, after lease expiration (for leases with ownership transfer or bargain purchase option)*
•	All calculations track fractions of a cent with reports tying to the penny (for example, $100 depreciation over 3 months gives $33.33, $33.34, and $33.33)
•	Depreciation can be calculated by 30-day month or by day*
•	Complete FAS-13 footnote disclosure of future rent commitments (with optional inclusion of leases signed but not yet started*)
•	Reports to screen, printer, or file (including Excel® or XML spreadsheet, PDF, HTML*)
•	Customized reports available upon request.

* These features are new or enhanced in v2.0 of EZ13.

LESSOR VERSION:

Just released, August 2008: EZ13 now is available in an edition for lessors. The lessor edition includes essentially the same input and reporting options, but shows output appropriate to income leases. Operating and direct financing capital leases are supported; sales-type capital leases can be handled with some manual adjustment. Leveraged leases are not supported.

The price for the lessor version of EZ13 is the same as for the lessee version (see below). A demo is available via the demo download page.

SYSTEM REQUIREMENTS:

•	Windows® 98 Second Edition or later (including Windows 2000, XP, or Vista)
•	70 MB hard disk space for installation
•	Monitor with at least 800x600 resolution (or higher)

RISK-FREE GUARANTEE:

Try EZ13 for 30 days. If not completely satisfied, return the program disk and manual for a full refund (excluding shipping).

FREE DEMO:

Download a fully functional copy (limited time and number of leases; all features enabled).

ORDERING INFORMATION & PRICING:

EZ13 is available in two editions:

1)	Standard Edition: Unlimited number of leases and databases: $2995
2)	Lite Edition: Maximum of 50 leases, one database: $995. (The Lite Edition does not include account numbers or capitalizing operating leases, and allows selecting leases for reporting subgroups only based on the beginning characters of the lease number; report periods can only be full months, quarters, or years, not variable lengths, but can start mid-month.)

Current users of EZ13 v1.x: Contact us for special upgrade prices!

Shipping and handling is $5 for first class mail; contact us for faster delivery options. Sales tax extra in Connecticut. (International orders may have additional taxes and duties; all prices in US dollars.)

EZ13 can be purchased by check, money order, or credit card (MasterCard, Visa, or Discover); purchase orders accepted. Call (203) 652-1375 or write to the address at left. Price includes installation CD and a comprehensive manual describing both the FAS-13 standard and usage of EZ13. Free (toll call) technical support, for both program usage and lease accounting assistance, is provided for 90 days after purchase. Ongoing maintenance contracts are available

EZ13 is designed to provide lease accounting for most common lessee needs. If you have more demanding needs, please consider our lease accounting service.

EZ13 is a trademark of Financial Computer Systems, Inc. Windows and Excel are registered trademarks of Microsoft Corporation.