16Leases vs Cradle

16Leases calculates IFRS 16 lease liabilities and right-of-use asset costs from lease information. After users enter lease details and adjustments, the software automatically computes results and provides payment schedules. Supported adjustments include lease incentives, purchase options, termination penalties, residual value guarantees, initial direct costs, and dismantling or restoration costs. Premium and Enterprise users can manually customize schedules. Users can export leases to Excel, share a lease by email with another 16Leases account, and manage leases across multiple companies. The software supports journal entries and runs on iOS, Linux, macOS, self-hosted environments, the web, and Windows. Its maker describes it for chartered and certified accountants, finance managers, accountants, businesses, and accounting firms serving clients. The Free plan is free for one user, and the 30-day trial does not allow lease document attachments. Premium is for one user; Enterprise supports unlimited users. Prices for both are available on request. The maker says sign-in uses an emailed token as a second factor and that user data is backed up on Microsoft Azure.

Cradle is a web-based system for automating lease accounting and compliance reporting. It supports IFRS 16, ASC 842, GASB 87, GASB 96 and FRS 102, and handles lessee, lessor and sublease accounting. The software calculates present values, accounts for modifications, prepares journal entries and generates required reports. Reports can cover one agreement, a company or a consolidated organization, with balance sheet, income statement, cash flow and disclosure options. Users can enter foreign exchange rates for converting leases into the applicable functional currency. Cradle can mirror a customer's general ledger and cost-center setup so accounting data can be exported into that system. Lease data may be entered manually, uploaded with a bulk template, migrated from Excel or moved through a custom engineering solution. Custom fields can be searched, stratified and exported. The Small Plan costs $99 a month for up to 10 agreements; the Regular Plan costs $199 a month for up to 20 leases. Both plans allow unlimited users and include no training. Cradle offers a 30-day trial and says it provides 24/7 support, guides and videos.