WA startup reinvents lease accounting

Cradle Accounting
Brendan Doyle and Maxim Andreev founded Cradle Accounting. Image supplied.
  • Brendan Doyle and Maxim Andreev co-founded Cradle Accounting
  • They are looking to make lease accounting much easier for businesses
  • They are a B2B SaaS business model

Cradle Accounting is a new B2B SaaS startup that automates a company’s lease accounting.

Cradle’s lease accounting software offers a new way for accountants to comply with the mandatory lease accounting standard AASB 16 instead of manual calculations, which are time-consuming and susceptible to manual error.

“There’s a huge disconnect between technology and accounting,” Cradle Accounting co-founder Brendan Doyle told Startup News.

“Any form of calculation ends up in excel. Excel is great, but not for everything. Using Cradle to account for a lease takes minutes instead of hours.

“For many companies, the lease standard is mandatory, but spending time on it isn’t. The feedback from our current customers, which include listed companies, has been very positive.”

Cradle software in action. Screenshot from website.

Features and benefits of Cradle include:

  • Lease management – no key dates are missed with notifications and reminders
  • Accuracy and consistency – remove spreadsheets and manual calculation errors
  • Compliance – Cradle produces all necessary financial reports, including financial statement disclosures in adherence to AASB 16.

Cradle’s lease accounting software is available starting at $199 a month, and interested users can sign-up online. For more information on Cradle, visit www.cradleaccounting.com/.