LeaseLedger

LeaseLedger is web-based lease accounting software for accountants and finance teams handling AASB 16, IFRS 16, or ASC 842 reporting. It is best suited to a small portfolio that can fit the free tier, while larger operations will need a tailored Professional arrangement. The main trade-off is the combination of broad accounting workflows with a strict three-lease free-plan ceiling and externally processed optional AI requests.

Overview

LeaseLedger connects lease events to their accounting consequences. The register covers new leases, migrations, modifications, and reassessments, with schedule impacts linked to each event. Scheduled payment reconciliation and capture of off-schedule settlements give finance teams a way to keep payment activity aligned with the schedules rather than treating calculations as a separate exercise.

Reporting includes financial-system reconciliations, cash maturity analysis, portfolio roll-ups, and previews of disclosure workpapers. Excel journal packs and exports of lease records, schedules, journals, and workbooks support downstream accounting work. However, the product does not name a third-party accounting integration, so a team requiring a direct connection to a particular ledger should confirm that fit first.

Key features

Lease events and payments

Because additions, migrations, modifications, and reassessments are tied to schedule changes, LeaseLedger is better suited to ongoing lease administration than a calculator used only at reporting time. Reconciliation of scheduled payments, plus recording of settlements outside the planned schedule, addresses the exceptions that can otherwise create manual adjustments.

Migration controls

Workbook-based migration includes pre-import validation, row-level error handling, and selectable opening-balance bases. These controls should make it easier to identify bad rows before they enter a portfolio and to choose an opening treatment appropriate to the conversion, although the process remains dependent on carefully prepared workbooks.

Reporting, exports, and security

Cash maturity analysis, roll-ups, reconciliations, and disclosure previews cover the outputs finance and audit teams commonly need. Workspace owners retain their lease data, documents, and outputs, with export options for records, schedules, journals, and workbooks. Scoped access, optional software-token MFA, secure cookies, and audit history strengthen administrative control. Core records and supporting documents are hosted in AWS Sydney, and data is encrypted in transit and at rest.

Optional AI drafting

AI can draft lease details from supplied text or PDFs, but a person must review suggestions before saving or relying on them. The selected material is sent to an external provider that may process it outside Australia and may retain API input and output for abuse monitoring for up to 30 days. That makes the feature potentially useful for reducing data entry, but it requires a deliberate privacy and document-handling policy.

Pricing

The Free plan is a credible way to handle a very small portfolio or evaluate the workflow without a charge. Its three-lease limit, single client workspace, two-person access, and five AI drafts make it unsuitable for a growing client base or repeated AI-assisted intake. Professional is the logical fit for larger portfolios and firms needing bulk migration, consolidation, eliminations, impairment testing, or more users, but custom pricing means budget cannot be judged from the plan page alone.

Platforms

LeaseLedger runs on the web, so it is suited to teams working across supported browsers rather than users seeking a native desktop or mobile application.

Who it's for

Accountants and finance teams managing lease portfolios under AASB 16, IFRS 16, or ASC 842 are the clearest audience. The free tier fits an owner and one teammate with no more than three leases. Organizations with multiple entities can use its multi-entity support, but those with larger portfolios should discuss Professional limits and pricing before adoption.

Pros and cons

Pros

• End-to-end lease workflow: Events, payment reconciliation, journals, disclosures, and exports are brought into one accounting-oriented workspace.
• Practical migration safeguards: Validation, row-level errors, and selectable opening balances help control workbook imports.
• Useful control and ownership model: Scoped access, MFA, audit history, encryption, Australian hosting, and export rights support governance.
• Accessible entry tier: A no-cost plan gives a tiny portfolio a defined starting point.

Cons

• Very small free allowance: Three leases, one workspace, one teammate, and five AI drafts are quickly exhausted by professional use.
• Professional pricing is custom: Larger teams cannot estimate cost without contacting the provider.
• No named accounting connector: Excel journal packs and reconciliation are described, but a direct integration with a specific financial system is not.
• AI creates a data-residency consideration: Prompts and PDFs may leave Australia and be retained for monitoring for up to 30 days.

Alternatives

For a broader platform choice, see Lease Accounting Software.

Choose 16Leases instead if native coverage across iOS, Linux, macOS, Windows, self-hosted, and web matters, or if a one-user trial account is the priority.

iLeasePro is a web-based freemium alternative with paid tiers capped at 50 or 150 contracts.

Pick LeaseAccounting.app if its free allowance of two leases, three users, and three entities, or its watermarked exports, matches your needs.

ROU Asset offers a no-trial free plan with up to five leases and an ASC 842 engine.

Ledgerage is an API-and-web option with single-lease calculations and metered API usage on its free tier.

Infor Public Sector is a paid public-sector platform with pricing by provider contact.

SAP Business One is a paid business suite priced by quote for business requirements.

Planon is a paid platform with a free trial.

Verdict

Choose LeaseLedger when you need standards-based schedules, event-linked accounting, migration controls, disclosures, and exportable journals in a web workspace, and your initial portfolio fits three leases. Look elsewhere if you need a named direct accounting integration, predictable Professional pricing, or AI processing confined to Australia.