EZLease Quick-start Guide
Welcome to the EZLease, the fast and simple way to get compliant! Below are basic instructions on how to get started using the software.
Getting Started
Before logging into EZLease for the first time, you will receive a welcome email from welcome@ezlease.com containing your username and temporary password. You'll use your temporary password the first time you log in, and then the system will prompt you to create a permanent password for future use.
Logging In
After receiving your welcome email, follow the steps below:
Step |
Action |
|---|---|
1 |
Go to https://app.ezlease.com |
2 |
Is this the first time you’ve accessed EZLease?
|
3 |
Enter the Username and temporary Password you received in the "Welcome to EZLease" email, and then click SIGN IN Note: The "Reset password" function is not available until after a permanent password is set. If you need a new temporary password, please reach out to your account Super Admin or submit a support request |
4 |
You’ll be prompted to change your password. Enter a new, permanent password and click CHANGE |
5 |
Review and agree to the terms of service, by selecting "Click here to agree to out terms of service" |
6 |
Click Manage my leases |
System Configuration
Before you import or enter any leases, you must configure your System Options. These options affect
all users and may have already been configured by another user.
To configure these settings, click the File menu and select System Options:
Step |
Action |
|---|---|
1 |
On the Selections Tab, select your Accounting Methodology from the dropdown. (US GAAP (FASB) is set by default). |
2 |
On the Fiscal Dates Tab, set up your Calendar Type and the Last Day of Your Fiscal Year (12- month, 12/31 Year End are set by default). |
3 |
On the New Standard Tab, select the Implementation Date (Date of new standard adoption) and Application Date (if you need to a parallel or a look back). |
All additional fields and settings are optional and can be changed or updated later, as needed.
For a deeper dive into configuration system options, please see the resources below:
Video: Configuring System Options
Adding a Lease Manually
You can add leases in bulk or individually. We recommend you add your first lease manually, to learn what EZLease requires and how it computes accounting results.
To load the pre-populated examples in the EZLease Bulk Import Template, skip to the next section
Step |
Action |
|---|---|
1 |
Click the Add New Lease button |
2 |
Enter the lease number or lease name into the Lease Number field |
3 |
Enter Begin Date and Base End Date for the lease in the fields located in the upper right corner Note: If you're unsure of the exact lease end date, double-click inside the Base Term field to enter the term in months - EZLease will then calculate the Base End Date for you. |
4 |
Under the Discount Rate section, input an Incremental Borrowing Rate.
|
5 |
In the Economic life section, specify a Current Economic Life. Note: This field can be left blank if the lease is manually classified. |
6 |
Input the Fair Market Value of the underlying asset or check the "Fair Market Value Not Determinable" checkbox. |
7 |
In the Rent steps section, enter your lease payment(s) (See: Rent Steps) Note: If the lease includes and non-lease components, they can be entered here. |
8 |
Optional - Enter any other necessary lease information on the Additional Data tab, Terms/Options tab, Descriptive tab, etc. |
9 |
Click on the Save Lease button. |
Once the lease is saved, the system will classify the lease and calculate an ROU asset amount on the Main Data tab.
In the following sections, we'll explain how to upload leases in bulk, and then how to run reports on your leases...
Uploading leases in bulk
Download an EZLease bulk upload template here: EZLease Bulk Import Template. Enter the required information on the Primary and Rent tabs. All required fields are noted with a blue column header.
Once the Primary tab is filled out, move to the Rent tab. The lease number can be selected from the drop-down list. You may add as many rent steps as you need; although only one rent step is required to save the lease. If your lease has rent escalations, you can find additional details here: Rent Escalations
Note: If you select any header cell, you’ll see a description of what goes in that column.
Uploading your completed import file to My Files
You must upload the completed EZLease bulk import template into My Files before you can import it into EZLease:
Step |
Action |
|---|---|
1 |
Click on the Folder icon (My Files) at the top of the EZLease window |
2 |
Choose the Home folder > Upload files > Select the EZ Import file |
Importing your leases into EZLease
Step |
Action |
|---|---|
1 |
Click File > Lease Upload |
2 |
Click the Select file button > Home Folder button > Select the EZ Bulk Import File >Open |
3 |
Uncheck the box next toBooking Date |
| Step | Action |
|---|---|
| 1 | Click File > Lease Upoad |
| 2 | Click the Select file button > Home Folder button > Select the EZ Bulk Import File > Open |
| 3 | Uncheck the box next to Booking Date |
4 |
Click Load. Note: EZLease will provide a list of import warnings and errors upon upload. While warnings do now prevent import, errors DO prevent import. Errors will need to be fixed on the template, before you attempt to re-import. You can save the error log as a .txt file, in order to make it easier to update your template outside of the system. |
5 |
Once the upload is complete, you'll get a confirmation message (example below): |
The leases are now in your database! To find a specific lease, click on the arrow icons or on View Lease List to bring up a list. Additional information on navigating leases can be found here: Basic Navigation
Note: For a deeper dive into adding leases, please see the resources below:
Running a report
EZLease provides multiple reports that can be used for many different reasons, depending on your goals. For implementation purposes, the best report to use to test a lease is a Journal Entries Report.
Follow these steps to run a Journal Entries Report for one month against all leases in your database:
Step |
Action |
|---|---|
1 |
Click the Reports menu |
2 |
Select the Journal Entries report |
| 3 | Set the Starting Date as the Lease Begin Date, and set your Ending Date so that you capture the entire life of the lease (i.e. Begin Date to Effective End Date) |
| 4 | Click on Generate Report |
| The Journal Entries Report will show you what’s required for the standard you selected. |
Note: For a list of all EZLease reports and additional information on report parameters, see: EZLeaseReports and Report Options.