Real Asset Management’s Lease4000 has been selected by Talquin Electric Cooperative to help in managing their lease accounting process
Talquin Electric Cooperative is a member-owned, non-profit electric distribution cooperative that provides about 52,500 accounts with electricity as well as water and wastewater services in the state of Florida. Talquin services commercial and residential customers across four counties spanning a 2,600 square mile territory.
Due to the fact that Talquin increased its number of leased equipment items, mainly vehicles and computers, it needed a better process of tracing costs. After careful consideration, the decision was made to bring in specialized capital lease accounting software as Talquin’s existing accounting system does not provide a leasing component.
With the upcoming changes to lease accounting rules and regulations being a topic of concern in the accounting world, Real Asset Management’s Lease4000 solution provides users with a high level of confidence as the software updates to reflect regulatory changes which users can maximize with their free software upgrades.
Real Asset Management expects to see an increased demand for Lease4000 as FASB and IASB work toward bringing leases on to balance sheets.