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GASB 96 - SBITA
  • 28 Aug 2023
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Contents

GASB 96 - SBITA

  • Updated on 28 Aug 2023
  • 1 Minute to read
  • Contributors
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Article Summary

Use Case: 

Software subscriptions are now considered leases under GASB 96. All GASB entities with software subscriptions will need to use this tool.

You will see 3 different changes when this tool is set up properly:
  • SBITA lease schedules will have SBITA specific headers
  • JE Reports will have SBITA spesific accounts
  • Disclosure Reports will separate SBITA from Long-Term leases

 Setup:

Lease Type

1. Make sure that your Accounting Standard is GASB under the Setup subtab.

2. Under the GASB standard in NetLease you will notice that a new lease type named Subscription (SBITA) has been added.

3. You'll notice that new SBITA account names and number have been added to this lease type.

 Adding a GASB SBITA Lease:

1. When adding a SBITA lease make sure that Lease Type and Lease Classification are set to SBITA


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