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Lease abstraction, tracking and ASC 842

Every lease abstracted and on ASC 842, without the year-end rebuild.

Spacetil reads each lease, extracts the terms that matter, keeps critical dates in front of you and maintains ASC 842 and IFRS 16 schedules for every location, with a Spacetil accountant reviewing the treatment.

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Spacetil is the AI-native ERP for multi-unit operators, built for franchise groups and multi-location businesses with 10 or more units: software plus a Spacetil accounting team, $350 per location per month.

Lease abstraction · Store 021
42 pages · 14 s
Base rent
$12,400 / mo
Escalation
3% annually, Feb 1
Term
Mar 2024 to Feb 2034
Renewal option
2 × 5 yrs, notice by Aug 2033
CAM cap
5% over prior year
Terms validated, ASC 842 schedule posted

Illustrative view of lease accounting in Spacetil.

How do multi-location operators handle ASC 842 lease accounting?

Spacetil abstracts each lease, including rent, escalations, options and CAM clauses, and keeps ASC 842 and IFRS 16 schedules current for every location. Right-of-use assets and lease liabilities post monthly, renewal windows are alerted months ahead, and a Spacetil accountant reviews the treatment for modifications and complex leases, so year-end is not a rebuild.

What Spacetil does here.

And what your Spacetil accounting team does

Your Spacetil accounting team checks every abstracted term, decides the treatment for modifications and unusual leases, and reviews the schedules each month.

Meet the accountants
Abstracts every lease
Rent, escalations, term, options, CAM clauses, security deposits and obligations, extracted from the document and checked by a Spacetil accountant.
Tracks critical dates
Renewal windows, option deadlines, rent steps and expirations, with alerts far enough ahead to act.
Keeps the accounting current
Right-of-use assets, lease liabilities, modifications and reassessments calculated and posted with the schedules.
Reports on the portfolio
Annual rent, upcoming renewals and balance sheet impact across every location, by brand or entity.
Keeps the paper
Every lease, amendment and estoppel filed against its location, so the 2019 amendment is one search away.

Before and after.

AbstractionBefore · Read by hand, terms typed into a spreadsheetWith Spacetil · Abstracted at onboarding, each one reviewed
Renewal optionsBefore · Tracked in a spreadsheet, sometimes missedWith Spacetil · Alerted months ahead
ASC 842 schedulesBefore · Rebuilt at year-end for the auditorsWith Spacetil · Posted monthly, audit-ready

The systems you already run.

  • NetSuite
  • QuickBooks
  • Sage
  • Oracle Cloud
  • Your document storage
All integrations

Questions

What documents can it read?
Leases, amendments, renewals, estoppels and landlord correspondence, as PDFs or scans.
Does it handle lease modifications?
Yes. Modifications and reassessments are recalculated and posted, with the accounting treatment reviewed by your Spacetil accounting team.
We have a few hundred leases. How long does onboarding take?
All of them are abstracted during onboarding, and a Spacetil accountant reviews each one. How long it takes depends on how many amendments sit behind each lease.

Guides: What is franchise accounting for multi-unit franchisees? · How does ASC 842 lease accounting work for franchisees with many store leases? · How do multi-location tenants handle CAM reconciliation and rent audits?

Works alongside

See lease accounting on systems like yours.

We'll walk through it on the POS, banks and ledger your locations run, with the accountants who would review the work.

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