ROU Asset

ROU Asset is a web app for finance teams handling lease accounting under US GAAP. It is best suited to organizations that need ASC 842 schedules, journal entries and reporting without per-seat charges. Its main trade-off is a free tier capped at five leases, with unlimited use starting at $99 per month.

Overview

The workflow runs from lease classification to amortization schedules, draft journal entries and general-ledger exports. It covers both finance and operating leases under ASC 842; organizations reporting under IFRS 16 should choose a product that supports that standard instead, since ROU Asset focuses on US GAAP.

Key features

Upload a signed lease PDF and Claude extracts terms, rent steps, free months, options and initial costs to prefill a lease form for review. This can reduce manual entry, though the form still needs review before those extracted details are used.

Five-test ASC 842 classification feeds finance and operating schedules with cent rounding and invariant checks. Those checks help keep calculations consistent, while the lifecycle tools let users modify, reassess, impair, partially or fully terminate, abandon or transition leases. Before-and-after values are shown before changes are committed, which gives reviewers a chance to catch unintended effects.

Reporting includes maturity analysis, lease-cost and quantitative disclosures, liability and ROU roll-forwards, current/non-current splits, a lease register and cash forecasts. QuickBooks Online, Xero, NetSuite, Odoo, Sage Intacct and Microsoft Dynamics 365 are listed alongside CSV and XLSX exports. Pro adds a custom export-template builder with reorderable columns, field catalog, constants, template strings, amount modes and batch preview—a meaningful advantage when a standard export does not match a team's ledger workflow.

Admin, accountant and viewer roles are enforced at the organization level. Changes are logged, and posted data cannot be quietly edited. Dashboard alerts and a daily email digest cover renewal and termination notice deadlines, expirations and upcoming payments, helping teams keep lease obligations visible between reporting cycles.

Pricing

The Free plan costs nothing, is billed $0 forever and requires no credit card. It supports up to five leases and includes the ASC 842 engine, AI extraction, CSV/XLSX export, six reports, dashboard, alerts and audit trail. It is a useful fit for a small portfolio or evaluation, but teams managing more than five leases must upgrade.

Pro Monthly costs $99 a month, billed $99 billed monthly. It includes unlimited leases and users in one organization, with no per-seat or per-lease charges; it suits teams that want flexibility and can cancel anytime through the Stripe billing portal under Settings → Billing, retaining access through the paid period.

Pro Annual costs $999 a year, billed $999/year, for unlimited leases and users in one organization with no per-seat or per-lease charges. It is the lower-cost paid option for a team comfortable with annual billing. There is no free trial, so the free plan is the route to assess the workflow before paying.

Platforms

ROU Asset runs on the web, making it a fit for browser-based accounting work rather than teams seeking a native desktop or mobile app.

Who it's for

ROU Asset is a strong fit for US-based accounting teams that need end-to-end ASC 842 lessee workflows, disclosure reporting and exports to a general ledger, especially when several people need access without seat fees. It is a poor fit for IFRS 16 reporting, and the five-lease free cap makes it less suitable as a long-term option for growing portfolios unless the paid plan fits the budget.

Pros and cons

• Pro: The free plan includes AI extraction, reports, alerts and an audit trail, so a small portfolio can use a broad accounting workflow at no charge.
• Pro: Pro has unlimited leases and users without per-seat or per-lease charges, keeping costs predictable as a team's portfolio and access needs grow.
• Pro: Lifecycle changes show before-and-after values, and logged changes with protected posted data support review and accountability.
• Con: Free use stops at five leases, a hard ceiling for organizations with larger portfolios.
• Con: The product is focused on ASC 842; teams needing IFRS 16 coverage should look elsewhere.
• Con: Pro starts at $99 per month and there is no free trial, so teams must decide whether the paid plan suits them based on the free tier.

Alternatives

For a small portfolio, 16Leases has a free trial account for one user and a Premium plan for one user with lease editing and customized payment schedules; choose it if that single-user setup better matches your needs.

iLeasePro offers Essential at $240 a month for up to 50 contracts and Professional at $480 a month for up to 150 contracts, so it may fit readers whose contract limits suit those tiers better than ROU Asset's five-lease free plan or unlimited Pro.

LeaseAccounting.app has a free plan with 2 leases, 3 users, 3 entities and watermarked exports, and a Starter plan at €149 a month; consider it if those user and entity allowances align with your requirements.

LeaseLedger offers a free plan with up to 3 leases, one client workspace, an owner plus one teammate and five AI-assisted drafts; it may suit a smaller workspace that values those limits.

Ledgerage offers unlimited single-lease calculations, two saved leases, 25 API computations per month and 10 API requests per minute on its free plan, with Pro at $39 a month; choose it if that calculation and API allowance is a closer fit.

Infor Public Sector is another option for readers comparing lease-accounting software.

Planon is another option for readers comparing lease-accounting software.

Acumatica Accounts Payable uses custom pricing based on applications, expected usage and resource requirements, and deployment preferences; consider it if that pricing approach fits your organization.

Verdict

Choose ROU Asset if your team needs a focused ASC 842 workflow with schedules, reporting, audit controls and unlimited-user pricing once the portfolio outgrows five leases. Look elsewhere if you need IFRS 16 support or if the $99 monthly entry point is too high for your organization.