Product-specific Q&A

1. What is included in the Lease Management Tool Tool?

2. How can I purchase the Tool?

3. How do I Install the Tool?

4. How does it compute Deferred Rent?

5. How did you verify that your calculations are correct?

6. What is the initial cost? Are there any additional costs?

7. Can multiple people use the product concurrently?

8. Can I share your templates?

Tool Requirements Q&A

9. What do I need to use the Tool?

10. What if I need additional help?

11. How do I install the Tool?

Product-specific Q&A

1. What is included in the Lease Management Tool Tool?

The Lease Management Tool includes a rich Excel template with software to prevent user error and complete documentation. The Tool also includes extensive documentation.

The Tool computes the GAAP and straight-line rent amounts and uses these numbers to create the deferral amount for a given "As Of" date.

2. How can I purchase the Tool?

The Tool is purchased from our website using PayPal and is available for immediate download. We're sorry but once you have downloaded the file, refunds will not be possible.

3. How do I Install the Tool?

Installation involves running the Windows Installer file. If you have Windows XP or later, the Windows Installer option is native to your OS (you can also install the Microsoft Installer software on Windows 2000 and NT 4.0 platforms).

After installation, a directory is created that contains the template file and documentation. Simply read the documentation PDF and you are ready to use the Tool.

Our Tool requires Microsoft® Office 2000 or later and can run on any Windows-based computer certified for use with the Office software. We recommend that you have at least 100MB of available disk space to store goodwill valuations.

You may install the Tool on a server or multiple PC's/laptops but the Tool is only licensed for a single company and/or legal entity. Bulk licensing is available for CPA and Consulting firms. Contact sales@procognis.com for details.

4. How does it compute Deferred Rent?

The Tool computes deferred rent by taking the difference between the contractual rent payments and straight-line rent expense using the input "As Of" the date of the report. Contractual rent payments are determined using the rental payments amounts and effective dates that the user provides when they set up the lease and are computed through the date of the report.

Straight-line rent is computed by taking total contractual rental payments over the life of the lease and dividing it by the number of days in the lease. The number of days in the lease is determined using the turnover date as the first day of the lease and the expiration date as the last day of the lease. This daily straight-line rent amount is then multiplied by the days in the period as of the date of the report. The Tool is a daily model and can compute deferred rent as of any date the user specifies. It also correctly accounts for terms that include a partial month and for terms including leap years.

5. How did you verify that your calculations are correct?

The Lease Management Tool is our interpretation of the SFAS13 and FSP 13-1 pronouncements and has been extensively tested using a variety of lease data. Our technique utilizes industry best-practice and all formulas used in the computation ofthe values are visible for verification (but cannot be modified).

The output of the Tool is entirely dependent upon the user inputs. As we do not control the input data, we are unable to provide a SAS70 report for this product. Our intent is to provide the user with a product that is “audit friendly”. As a result, all detailed calculation are shown allowing the auditor to easily verify the output.

6. What is the initial cost? Are there any additional costs?

The license fee for the Tool is $899.The license is per Company or legal entity. Multiple users within that entity may use the product. CPA firms, consulting firms or other entities that have business relationships with third-party companies and that wish to use our products for their customers will need to purchase a license for each such company and/or entity. Please contact our sales team for more details and pricing for license packs or bulk licenses.

There are no ongoing maintenance costs. Once you have purchased the Tool, you own the license for it. Ongoing technical support services are on a per-incident basis with no support contract required.

We're sorry but returns cannot be accepted after the transaction has been completed

7. Can multiple people use the product concurrently?

Yes. Any workbooks created with our software can be accessed or created by anyone with access to the software. However, the license is for one company and/or entity so any use within the license is permitted.

You may install the Tool on a server or multiple PC's/laptops but the Tool is only licensed for a single legal entity or company.

8. Can I share your templates?

No. Our templates are proprietary. By purchasing the Tool, you have been granted a license to use them for one company and/or entity. If you have multiple subsidiaries, each must purchase a separate license.

Tool Requirements Q&A

9. What do I need to use the Lease Management Tool ?

The Lease Management Tool is based on an Excel template using embedded code. You will need Excel 9.0 or greater (Office 2000 or greater). You will also need to set Medium Macro security to allow Macros to run on each workstation. Disk space required will depend on the number of workbooks saved on the system. Each workbook will require approximately 400KB and the base installation will require about 1MB.

10. What if I need additional help?

Technical support is available via email on a per-incident basis. If encounter technical issues, simply email us at support@procognis.com. We will make every effort to resolve your technical issues.

11. How do I install the Tool?

Simply run the Installer file or the Executable you downloaded following the PayPal transaction. The installation software will ask you where you would like to install the files on your hard drive or network. Both applications default to installing the software in the current directory (where you saved the installation file). After installation is complete, a shortcut will be created on your desktop that will link to the working template file.

For the Windows Installer version, should you want to delete the installation, you should use the Add/Remove programs feature in the Control Panel or simply use the Remove option when re-running the installer.