About UGAAP

UGAAP provides a lease accounting solution under the new standard. Key features include journal entries, disclosure reports, multi-currency (including functional currency treatment), implicit rate calculation, lease classification test, transitional functions, audit trail, segregation of duties and visual overview charts. 

UGAAP includes journal entries for the entire life cycles of leases, including commencement, interim, modification and termination. Accounting is available for lessees and lessors with interest rates implicit in the lease calculation. 

UGAAP includes a lease classification test at the commencement as well as at modifications and reassessments. Users can search the system by keywords, and all data is automatically validated...


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Supported Operating System(s):

Web browser (OS agnostic), Windows 8, Windows 10

5 Reviews of UGAAP

Average User Ratings

Overall

4.60 / 5 stars

Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

Ratings Snapshot

5 stars

(3)

3

4 stars

(2)

2

3 stars

(0)

0

2 stars

(0)

0

1 stars

(0)

0

Likelihood to Recommend

Not likely

Very likely

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Showing 1 - 5 of 5 results

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June 2019

Anonymous

Verified Reviewer

Company Size: 1,001-5,000 employees

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

June 2019

UGAAP Lease Accounting Software Review

Pros

We did demos with a number of providers of lease accounting software, UGAAP is by far the most efficient software there is. This is a software dedicated to accounting and reporting. They have CPA firms as their clients. We did not want to mess with the unnecessary property management type of work. We just wanted the software for GAAP compliance. And this is exactly what we need. Their staff is professional and experienced in implementation, and has been really helpful. Lease accounting has been touted as a hot anxiety point for so many years. Some provider has to figure out something elegant to streamline the process, the calculation and presentation. We think this one foots the bill really well.

Cons

So far I have not found any yet, we would like to get more users to test the software so we can get a feel on it s performance.

July 2020

Tina from Port of Edmonds

Company Size: 11-50 employees

Industry: Government Administration

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

July 2020

Has Saved Me Lots of Time

Manually calculating the amortization tables for 60+ leases and manually figuring out their journal entries monthly would have taken days. UGAAP enables me to get the journal entry completed in about 15 minutes.

Pros

This software takes away the headache of trying to calculate, track, and record GASB 87 lease transactions. Once the lease is entered, UGAAP calculates the amortization tables, and all I have to do monthly is print the journal entry details, summarize them, and post them into my GL.

Cons

I am not familiar with Access databases, so it took me a bit to figure out some tricks. UGAAP tech support was very helpful when I had questions.

Reasons for Choosing UGAAP

UGAAP was less expensive, was ready to go (many other softwares were not ready yet), and was easy to use.

October 2019

Anonymous

Verified Reviewer

Company Size: 5,001-10,000 employees

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

October 2019

Big bang for the bucks

We use this software to tackle the necessary evil of having to comply with the new lease accounting standard. We are able to use the help of UGAAP to achieve what we were hoping to do. We knew from the demo this would work because they use our actual leases in the demo.

Pros

Meet the compliance needs if that's all you care about. Easy to use after a little bit of training. The intuitive and direct approach in lease modifications. Strong technical accounting. Good for accountants and financial reporting professionals. Willing to customize for our special requests. One-time fee for a permanent license, not bad at all.

Cons

Needs a bit of training to get around. Light in lease administration features, so this is probably not a piece of software for the property department if that's the focus, though it does have interesting expiration alert and lease vs buy analysis functions.

May 2019

Anonymous

Verified Reviewer

Company Size: 10,000+ employees

Time Used: Less than 6 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

May 2019

Easy to use and low cost

Pros

A few of our clients use USGAAP lease accounting software. It is a quick and dirty tool that gets the job done. The ASC 842 adoption date amortization schedules, journal entries, and SAB 74 reports are surprisingly easy to generate. It is apparent their software is designed by someone with years of GAAP experiences in research and in practice. The tool provides tips for users as they use it. I can see accounting firms use USGAAP software to manage client lease portfolio, or even as part of lease accounting audit tool. It is always good a complex accounting area made so easy by a tool like that.

Cons

Nothing to mention at this point of time.

May 2019

Irene from ETE

Company Size: 10,000+ employees

Industry: Oil & Energy

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

May 2019

Easy to use and low cost

Fantastic, stress free, no annual subscription fees.

Pros

UGAAP software provides straightforward accounting deliverables in an easy to follow way. Disclosure reports and journal entries meticulously complies with the Codification. Calculation tool for implicit rate is fantastic. The implementation was quick and mostly stress free. We also like the fact that there's no annual subscription fees. It makes our lease accounting a much simpler task than it could have been.

Cons

Nothing I can mention at this moment.

Response from UGAAP

Replied May 2019

Thank you for the positive comment. We are pleased to provide value for easy accounting compliance.