Cradle vs Lease Harbor

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.

Lease Harbor provides web-based lease administration and accounting for real estate, equipment, and vehicle portfolios. Its tools track leases and key dates, store documents, send reminders, and support automated remeasurement and compliance reporting. Users can customize data fields and reports. Workflow features include approvals, audit trails, and email notifications; reporting covers compliance, financial statements, and audit support. Integration tools provide imports, exports, scheduled transfers, and web services, with listed connections to systems including Oracle, SAP, Workday, NetSuite, and Microsoft Dynamics. The maker says the software automates compliance with FASB, IFRS, and GASB standards and references a SOC 1 Type II report and Tier III+ data centers. Lease Harbor offers training, technical support, accounting, consulting, and data conversion services. It describes customers ranging from small businesses to enterprises. The software requires no installation. Pricing is on request and varies by features such as lease accounting and administration.