ASC 842 is a game-changing lease accounting standard that reshapes how businesses handle leases. InvoiceRunner aids in achieving compliance while automating the tedious invoice processing tasks that often accompany such transitions.
With the introduction of ASC 842, companies are faced with the daunting task of overhauling their lease accounting practices. This new standard requires greater transparency regarding lease liabilities and assets than ever before. Consequently, businesses must grapple with the meticulous processes of data collection, entry, and compliance checks. For finance teams, this means more invoices to process, more records to maintain, and an increase in potential errors due to manual handling.
InvoiceRunner steps in to alleviate these pressures by automating nearly all aspects of invoice processing. By continuously monitoring your email inboxes for invoices, it eliminates the need for manual data entry and ensures that every document is captured immediately. The software extracts essential data using AI, validating figures and detecting duplicates before anything is added to your accounting system, making compliance with ASC 842 as seamless as possible.
The transformation users experience with InvoiceRunner is profound. No longer bogged down by labor-intensive data entry and the risk of inaccuracies, finance teams can focus on strategic decision-making and ensuring compliance with ASC 842. The end result is a significant boost in efficiency, reduced operational costs, and the peace of mind that comes from knowing invoices are being accurately processed and records maintained.
Common challenges faced every day
Purpose-built invoice automation
Tangible benefits that impact your bottom line
By automating invoice handling, teams can reclaim valuable time spent on manual labor.
Our AI technology ensures near-perfect data extraction from various invoice formats.
Integrated duplicate detection safeguards your budget from overpayments.
Connect and sync with accounting tools in real time, ensuring accuracy and compliance.
Get started in just five minutes without the hassle of long onboarding processes.
Handle increased invoice volumes effortlessly without hiring additional personnel.
Everything you need to automate invoice processing
Monitor Gmail or Outlook 24/7 for invoice emails.
Never miss an invoice
Extract vendor, dates, amounts from any format.
No templates required
Verify calculations before syncing.
Catch errors automatically
Sync to Xero, QuickBooks, etc.
One-click sync
Check for duplicate invoices.
Prevent costly errors
Match to existing vendors.
Keep vendor data clean
Real scenarios from users like you
A retail chain used InvoiceRunner to streamline lease entries as ASC 842 came into effect, enabling them to maintain accurate asset and liability records effortlessly.
Example: By automating their invoices related to leases, they managed to reduce processing time by 30%.
A construction firm integrated InvoiceRunner to monitor numerous vendor invoices to comply with ASC 842, ensuring all leases were accounted correctly.
Example: This saved the company hundreds of hours each year that were previously spent on manual data entry.
A property management firm utilized InvoiceRunner to capture and organize lease invoices so that it met the reporting requirements mandated by ASC 842.
Example: The firm enhanced its compliance efforts and saw a reduction in late payment penalties.
A consulting company faced challenges with numerous lease agreements. Using InvoiceRunner allowed them to simplify their accounts payable processes while remaining compliant with ASC 842.
Example: They improved operational efficiency and accuracy, significantly boosting their financial reporting.
InvoiceRunner is designed to work with your existing tools
Link your Gmail or Outlook account securely.
Connect to your accounting software with one click.
InvoiceRunner extracts data automatically.
Draft bills appear for your review.
Seamless integration with popular platforms
“InvoiceRunner has completely transformed how we manage our lease invoices, ensuring compliance with ASC 842 has never been easier.”
“We used to waste countless hours on manual data entry. With InvoiceRunner, we've improved our accuracy and efficiency tremendously.”
Most users are up and running in under 5 minutes.
PDF, images (JPG, PNG), and scanned documents.
We use bank-grade encryption and never sell your data.
All invoices are created as drafts for your review.
Xero, QuickBooks, Zoho Books, FreshBooks, and Sage.
Yes! 10 free extractions, no credit card required.
Join businesses saving hours every week with InvoiceRunner.
Start Free TrialInvoiceRunner automates the tedious parts of accounts payable.