Crunchafi Lease Accounting
Lease accounting under ASC 842, IFRS 16, FRS 102 Section 20 and GASB, with AI lease abstraction and shared firm and client access
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About Crunchafi Lease Accounting
Crunchafi Lease Accounting works out lease accounting for accounting firms and their clients. It produces journal entries, amortisation schedules and footnote disclosures for lessee and lessor leases, and the company says it supports ASC 842, IFRS 16, FRS 102 Section 20 and GASB 87, 94 and 96.
An AI lease abstraction feature reads an uploaded lease contract and fills in the lease term, start and end dates and asset details, which cuts the slowest part of setting up a lease. A dual access design lets the firm and its client enter and review lease data in the same environment, with role-based permissions, single sign-on and audit trails. Reports download to spreadsheets. Crunchafi holds annual SOC 1 Type II and SOC 2 Type II reports.
It is not close management software: it does not run checklists, reconciliations or close tasks, but it supplies the lease entries and schedules teams post each period. Pricing is per lease per year, with the rate given on request, and training and support are included. Crunchafi also sells a separate Data Extraction product, listed on its own.
Key Features
- Journal entries, amortisation schedules and footnote disclosures for lessee and lessor leases
- Supports ASC 842, IFRS 16, FRS 102 Section 20 and GASB 87, 94 and 96
- AI lease abstraction: upload a lease contract and it reads the term, dates and asset details
- Dual access so the firm and its client work in the same lease records
- Annual SOC 1 Type II and SOC 2 Type II reports, single sign-on and role-based access
Our in-depth review
Crunchafi Lease Accounting does one job: turning a firm's or client's leases into the entries, schedules and disclosures the standards require. That sounds narrow, but lease accounting is where spreadsheets break, and the FRS 102 Section 20 changes from 2026 bring it to many UK clients for the first time.
What it does well. Standards coverage is the headline: ASC 842, IFRS 16 and FRS 102 Section 20, plus GASB 87, 94 and 96 for public sector work, so one tool covers UK, international and US clients. FRS 102 support is unusual among US-built tools and makes it directly relevant to UK practices. The AI lease abstraction reads an uploaded lease and fills in the term, dates and asset details, which is where most of the set-up time goes on a large lease book. Dual access lets the firm and client work in the same records instead of swapping spreadsheets. SOC 1 and SOC 2 Type II reports are in place, which audit teams will expect, and training and support are included rather than sold separately.
Where it falls short. Pricing is per lease per year, but the rate is not published, so budgeting needs a sales call. It is a calculation and reporting engine, not close management: checklists, reconciliations and task tracking sit elsewhere. The site does not list ledger integrations for this product, so expect to post the journals into Xero, QuickBooks or Sage yourself. Customer and time-saving claims are the company's own, and abstraction should be checked by a person on the first leases you load.
Best for. Audit, advisory and outsourced accounting teams with lease-heavy clients, and UK firms preparing clients for the FRS 102 lease changes. It also suits firms with US or international groups who need ASC 842 or IFRS 16 alongside FRS 102.
Verdict. A practical specialist tool with proper security credentials and genuine UK relevance. Ask for the per-lease rate at your volume, then load ten real leases through the AI abstraction and compare the schedules against your current workings before moving your book across.
At a glance
- Category
- Month-end close
- Best for
- All sizes practice
- Editor's score
- 4.3 / 5
- Pricing
- Priced per lease per year (rate not published); training and support included
- Last verified
- 2026-10-19
A specialist lease accounting tool with real FRS 102 coverage, useful AI lease abstraction and proper SOC reports, though pricing needs a sales conversation.
Integrations
- Excel
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