Yes, many companies have already started exploring software solutions to help comply with the new lease accounting standards. The new lease accounting standards, namely ASC 842 and IFRS 16, require companies to recognize lease assets and liabilities on their balance sheets, which can be a complex and time-consuming process.

There are several software vendors that offer lease accounting solutions to assist companies in complying with these standards. These solutions typically automate the lease accounting process and provide features such as lease data management, lease classification, lease calculation, and lease reporting.

One example of such software is LeaseQuery, a lease accounting software that helps companies manage their lease portfolios and comply with the new lease accounting standards. LeaseQuery provides a centralized platform to store and manage lease data, perform lease calculations, generate financial reports, and ensure compliance with ASC 842 and IFRS 16. It offers features like lease classification testing, lease modification tracking, and lease accounting journal entries.

Another example is CoStar Real Estate Manager, a lease accounting and management software that helps companies streamline their lease administration processes and comply with the new lease accounting standards. It offers features like lease abstracting, lease accounting calculations, lease payment processing, and lease reporting. CoStar Real Estate Manager also integrates with other financial systems to ensure accurate and timely lease accounting data.

These software solutions not only simplify the lease accounting process but also provide companies with better visibility and control over their lease portfolios. They help automate manual tasks, reduce errors, and ensure compliance with the new lease accounting standards.

References:

1. LeaseQuery: https://leasequery.com/
2. CoStar Real Estate Manager: https://www.costarmanager.com/