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:

Go to https://app.ezlease.com
Is this the first time you’ve accessed EZlease? If Yes, go to step 3. If No, enter your Username and Password, and then click SIGN IN. Jump to step 6 below
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
You’ll be prompted to change your password. Enter a new, permanent password and click CHANGE
Review and agree to the terms of service, by selecting "Click here to agree to out terms of service"
Click Manage my leases

Note: Your session will time out after 60 minutes of inactivity.

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:

On the Selections Tab, select your Accounting Methodology from the dropdown. (US GAAP (FASB) is set by default).
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).
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.

Note:
For a deeper dive into configuration system options, please see the resources below:

Configuring System Options

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

Click the Add New Lease button.
Enter the lease number or lease name into the Lease Number field
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.
Under the Discount Rate section, input an Incremental Borrowing Rate.
In the Economic life section, specify a Current Economic Life.

Note: This field can be left blank if the lease is manually classified.
Input the Fair Market Value of the underlying asset or check the Fair Market Value Not Determinable checkbox.
In the Rent steps section, enter your lease payment(s) (See: Rent Steps)

Note: If the lease includes any non-lease components, they can be entered here.
Optional - Enter any other necessary lease information on the Additional Data tab, Terms/Options tab, Descriptive tab, etc.
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:

Click on the Folder icon (My Files) at the top of the EZlease window
Choose the Home folder > Upload files > Select the EZ Import file

Importing your leases into EZlease

Click File > Lease Upoad
Click the Select file button > Home Folder button > Select the EZ Bulk Import File > Open
Uncheck the box next to Booking Date
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.
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:

Click the Reports menu
Select the Journal Entries report
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)
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.

Understanding accruals in EZlease

Most leases are paid once a month (or once per quarter or year). Since months have varying numbers of days, this means that a daily calculation of the rent (and other expenses) can result in variability that may be undesirable. Conversely, making the daily activity consistent will result in monthly variability.

EZlease offers multiple options to make the accrual of rent, depreciation, and interest fit best with your organization’s fiscal calendar. Most users with fiscal calendars that match calendar months (i.e., your fiscal period ends at the end of a calendar month) will get most consistent results from month to month by selecting the System Options of Accrual calculation period: Month, and 360-day year for rent and interest accrual: checked. Users with fiscal periods that are week-based (for instance, 13 4-week periods per year, or 4-4-5 week quarters) will get most consistent results from period to period by selecting Accrual calculation period: Day. (Choosing Month for the accrual period without 360-day year gives income statement activity every day, but the daily activity amount varies depending on the length of the month, while the total from one month to the next is the same). Note that if a lease is paid in the middle of a month, the rent accrual will vary from calendar month to month unless Month and 360-day year are both chosen.

Help

At any point in the program, press F1 to get a context-sensitive help screen describing the menu commands or the current field in an input screen.