ASC 842 Lease Schedule Template
Two documents and four sheets: every lease's reasonably certain call written down before the right-of-use asset and liability schedules get built.
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Lease Register
[Company] — every signed lease, extracted
Term Used is the concluded reasonably certain term from Judgement Notes, not the bare noncancelable period off the signature page. Nothing here is typed in from memory.
| Ref | Asset | Classification | Term Used | Discount Rate | Liability at Commencement |
|---|---|---|---|---|---|
| — | — | — | — | — | — |
| — | — | — | — | — | — |
| — | — | — | — | — | — |
| — | — | — | — | — | — |
Term Used only fills in once the reasonably certain call is written down in Judgement Notes, against the four factor categories the standard actually asks for.
Halloway Diagnostics leases its headquarters on a five-year noncancelable term with a five-year renewal option, and the renewal is reasonably certain only because a $45,000.00 tenant improvement allowance amortizes into it and no comparable lab space exists nearby. A schedule built on the bare noncancelable term prices the liability at $486,550.84. The concluded term, 120 months, prices it at $894,446.94, a $407,896.10 gap from one document read to the end. ASC 842-10-55-26 weighs contract, asset, market and entity factors together before that threshold is met.
The warehouse lease escalates on the regional CPI. ASC 842 measures that payment at the index's spot value on the commencement date and never a forecast, so the schedule holds $14,500.00 flat rather than projecting it forward. Project it forward at an assumed 3.2 percent instead and the liability overstates by $14,477.91 against a correct $469,603.73. The lab equipment lease carries a $500.00 purchase option nominal against the equipment's value, reasonably certain on its own under the same factors, which is what makes this specific lease a finance lease rather than an operating one.
The two schedules diverge from there. An operating lease's single lease cost is fixed for the term, and the right-of-use asset absorbs whatever that cost leaves after interest; a finance lease's asset amortizes on its own straight-line schedule instead. The two only produce the same number when rent never escalates, which is the one case a flat-rent example can never test. Total 2026 lease cost across all four leases comes to $328,003.45, disclosed with the same evidence-first discipline the software capitalization memo and the equity compensation pack apply to their own dated documents.
What's in the pack
Lease Register
Every lease's commencement date, term, rate, escalation structure and every option extracted from the signed agreement itself.
Judgement Notes
The reasonably certain conclusion on every renewal, termination and purchase option, weighed against all four factor categories, not asserted.
Lease Policy
The discount rate election, the short-term lease election by asset class, and the spot-rate rule for index-linked payments.
ROU Asset Rollforward
Amortized on the mechanics its classification actually uses: straight-line for a finance lease, a single-lease-cost plug for an operating one.
Liability Amortization
Interest and principal split by the effective interest method, on the rate Lease Policy assigns to that asset class.
Disclosure Summary
Lease cost by component, supplemental cash flow, weighted-average term and rate, and the maturity analysis tied to the liability.
Space rule
Governs every prompt here: a renewal option is included because of a specific fact, never a default or a preference.
How to use it
- 1
Open in River, or download it
Open the pack in River and let the agent build both schedules from your own signed leases, or download the blank Word and CSV files instantly.
- 2
Send the signed leases
Every lease, amendment and side letter, plus any tenant improvement allowance or incentive letter. A rent roll or broker summary is not enough.
- 3
Register and judge first
Every lease and every option gets a row on Lease Register and a reasonably certain conclusion in Judgement Notes before either schedule is built.
- 4
Roll the schedules and disclosure
Right-of-Use Asset Rollforward and Liability Amortization compute from the concluded term, then Disclosure Summary rolls both into the weighted averages and maturity table.
Frequently asked questions
Is this template free?
Yes, all of it. Word documents and CSV sheets, no signup, no card required. Edit with AI is a separate, optional route for anyone who would rather hand over a folder of signed leases than build the register by hand.
Does this replace lease accounting software?
No, and it is not sized for a company that needs it. Dedicated lease software earns its cost once a portfolio runs into the hundreds of leases. A company with a handful of leases and an auditor who wants the judgment written down is the case this pack is built for, sized the same way the revenue recognition policy pack is.
What counts as a reasonably certain renewal option?
No single fact decides it. ASC 842-10-55-26 weighs contract-based, asset-based, market-based and entity-based factors together, such as an unamortized tenant improvement allowance, a below-market renewal rate, or the cost of relocating specialized leasehold improvements. Judgement Notes records the specific facts behind each conclusion, not just the outcome.
Why does a CPI-linked payment not use a forecasted rate?
Because the standard does not ask for one. A variable payment tied to an index is measured at that index's value on the commencement date, held flat for the initial schedule. A later change in that index flows through lease cost in the period it happens, rather than resetting the liability.
Why does the right-of-use asset amortize differently from the liability?
Because an operating lease and a finance lease use different mechanics. A finance lease's asset amortizes on its own straight-line schedule. An operating lease's asset absorbs whatever its single, straight-lined lease cost leaves over after that period's interest, which only matches the liability's principal reduction when rent never escalates.
How does this relate to the fixed asset register or balance sheet substantiation?
A right-of-use asset is scheduled here the same way an owned asset is scheduled on the fixed asset register, and both liability balances get the same period tie-out discipline the balance sheet substantiation pack applies to every account it covers.
What format are the downloaded files?
Two .docx documents, Lease Policy and Judgement Notes, plus four .csv sheets covering the register and both schedules, zipped into one downloadable file. They open natively in Word, Pages, Google Docs, Excel, Numbers and Sheets, with no conversion required.
Get the judgment written down before the schedule
Download the blank pack as Word and CSV files, or open this exact pack in River and let the agent build your own register from your own signed leases.
Edit with AI