GASB 87 Lease Management Software and GASB 96 Subscription-Based Information Technology Arrangement Management Software

The Vendor is required to provide GASB 87 lease management software and GASB 96 subscription-based information technology arrangement management software for include:
• Adheres to all accounting requirements under GASB 87 and GASB 96.
• Generate journal entries by month, quarter or annually and accurately calculate lease data.
• Generate monthly journal entries be created at a portfolio-level, lease -schedule-level and asset-level.
• Store and track data about each lease, journal entry, and asset.
• Ability to re-measure asset or liability value/amortization schedule.
• Ability to set up notifications for dates determined to be critical.
• Ability to account for payments that are fixed versus variable.
• Alert notifications for contract renewals and deadlines to ensure start and end dates are not missed
• Produce footnote disclosures
• Supports split allocations by percentage, fixed amount, etc.
• Summarize changes made since a particular date.