Best Lease Accounting Software for Xero

The best lease accounting software for Xero depends on which side of the lease you sit on. For a US lessee that needs ASC 842 schedules posted to Xero, AssetAccountant is the most direct fit: it lists IFRS 16 and ASC 842 lease accounting, one-click journal posting to Xero and a free 30-day trial on the Xero US app store. Rubli suits IFRS 16 and FRS 102 reporters, and Re-Leased is a landlord property management platform, not a lessee accounting tool. None of them removes the job of reading every lease first.

We checked the Xero US app store, each vendor site and their pricing pages on 26 September 2026. Here is what a controller or outside CPA running Xero should know before booking a demo.

Does Xero do ASC 842 lease accounting?

Xero is the ledger, not the lease engine. It will hold a right-of-use asset account, a lease liability account and every journal you post to them, and it reconciles the rent payments coming out of your bank feed. The present value math, the amortization schedule and the remeasurement when an amendment lands have to come from somewhere else: an app or a maintained spreadsheet. The clearest sign is Xero's own marketplace. Search the US app store for lease accounting and it returns third-party apps, led by AssetAccountant, Re-Leased and Rubli.

Lease accounting apps for Xero compared

What is the best lease accounting software for Xero?

For most US companies on Xero with 3 to 50 leases, AssetAccountant is the first one to trial. It is on the Xero US app store, names ASC 842 explicitly, posts journals to Xero in one click and handles fixed asset depreciation in the same register, which matters when your leasehold improvements sit next to your leases. Two caveats a US buyer should hear up front: the price is behind a request form, and the company is Australian. Its own pricing form says your data is processed in Australia, which some lenders and auditors will ask about.

If you want a number you can budget tonight, Cradle publishes one: 99 dollars a month for up to 10 agreements and 199 dollars for up to 20, with unlimited users. It does not name Xero, but its export is configured to replicate your general ledger, so a Xero manual journal import works. We break down its plans in Cradle lease accounting pricing.

Is Rubli good for US companies?

It can be, but check the fit first. Rubli leads with IFRS 16 and FRS 102, its Xero listing names only those two standards, and its site adds ASC 842. That mix suits a US subsidiary of a UK or European group reporting both ways. For a purely domestic ASC 842 reporter, ask for a US reference customer. Rubli is also one of the few lease accounting apps that markets AI-driven contract analysis and data extraction, so test it on your hardest lease, not your cleanest one.

Is Re-Leased lease accounting software?

No, not in the ASC 842 sense. Re-Leased is property management for commercial portfolios: rent and recoveries, arrears, critical lease events and a two-way Xero sync of tenant data. It is built for the landlord who collects rent, not the tenant who has to put a right-of-use asset on its balance sheet. If you own buildings and run Xero, it belongs on your list. If you lease space, it does not.

How much does lease accounting for Xero cost?

Of the five, only Cradle and SOFT4Lessee print a price. Cradle is 99 or 199 dollars a month by lease count. SOFT4Lessee is 120 euros per user per month with unlimited leases, but it runs inside Microsoft Dynamics 365 Business Central, so a Xero company would be buying Business Central seats to host a lease module and export journals back. We cover that product in our Business Central lease accounting comparison. AssetAccountant, Rubli and Re-Leased all route pricing through a form. Budget time as well as software: careful manual abstraction of a commercial lease with amendments runs four to eight analyst hours, and every app above assumes that work is done before you load it.

How do I record a lease in Xero under ASC 842?

Create a right-of-use asset account and a lease liability account, split current and non-current if your balance sheet needs it. At commencement, post a manual journal debiting the asset and crediting the liability for the present value of the remaining payments, adjusted for prepaid rent, incentives and initial direct costs. Each month, code the rent payment from the bank feed to the liability, and post the schedule entry: one straight-line lease cost for an operating lease, or interest plus amortization for a finance lease. An app like AssetAccountant generates and posts those journals for you. If you are still catching up on historical rent payments that never came through a feed, you can convert a PDF bank statement to CSV and import it into Xero before you start.

Do Xero lease apps read the lease for you?

Mostly not. AssetAccountant, SOFT4Lessee and Cradle all expect the lease terms as data: typed into a form or imported from a spreadsheet. The words abstract, extract and OCR do not appear on their pages. Rubli markets AI extraction, which is worth testing. For everything else, somebody opens the PDF, finds the commencement date agreement, reads each rent step and renewal option and types it in. That is where most ASC 842 errors start, because a commencement date taken from the cover page instead of the signed commencement letter shifts every journal for the life of the lease.

That step is what our lease abstraction software handles. Upload each lease and its amendments and get commencement and expiration dates, term, base rent, every escalation, free rent, options and notice windows back as fields, each one cited to the page it came from. Export to Excel or CSV and load it into whichever Xero app you choose. If you later move to QuickBooks Online or NetSuite, the same file loads there too; see QuickBooks lease accounting for that path.

Which Xero lease setup should you choose?

Under 5 simple leases with fixed rent: a schedule workbook, manual journals in Xero and abstracted terms you can defend to an auditor. From 5 to 50 leases: AssetAccountant if you want native Xero posting and can live with a quote process, or Cradle if a published price matters more than a named integration. Group reporting under IFRS 16 as well as ASC 842: put Rubli on the shortlist. A landlord: Re-Leased. Whichever you pick, start with one lease. Abstract it here, compare the cited fields with what is in your books today, and you will know within ten minutes how much cleanup the software will inherit. Smaller teams weighing the whole field can also read our lease accounting software for small business guide.