# Ledgerage > The lease accounting engine for teams and their AI agents. Enter a lease and get the present value, right-of-use asset, lease liability, > a full amortization schedule, journal entries and disclosures under ASC 842, IFRS 16 and GASB 87 — > deterministic, audit-grade, and traceable to the standard. Free calculator; metered API + MCP for agents. ## Use the API (for agents) Base URL: https://ledgerage.com/api Auth: send your key as `Authorization: Bearer sk_live_...` (or `x-api-key`). Get a key at https://ledgerage.com/dashboard/keys. Docs: https://ledgerage.com/docs/api · OpenAPI: https://ledgerage.com/openapi.json · MCP: https://ledgerage.com/docs/mcp Endpoints (all POST, JSON body = a lease): - POST /v1/compute — full computation (liability, ROU asset, schedule, disclosures, journal, classification). 1 unit. - POST /v1/schedule — the amortization schedule only. 1 unit. - POST /v1/journal-entries — balanced double-entry journal entries. 1 unit. - POST /v1/classify — operating vs finance with the five ASC 842 criteria. Free (0 units). Example: ``` curl https://ledgerage.com/api/v1/compute -H "Authorization: Bearer sk_live_..." -H "Content-Type: application/json" \ -d '{"standard":"ASC_842","commencementDate":"2026-01-01","termMonths":60,"paymentAmount":5000,"paymentFrequency":"monthly","paymentTiming":"advance","discountRateAnnual":0.07}' ``` Responses include structured errors (`error.code`), quota headers (`x-quota-remaining`), an `Idempotency-Key` replay path, and a `request_id` for the inspectable request log. ## MCP server Tools: compute_lease, lease_schedule, journal_entries, classify_lease. Run: `LEDGERAGE_API_KEY=sk_live_... npx tsx mcp/server.ts`. See https://ledgerage.com/docs/mcp. ## Standards - [ASC 842 — ASC 842 — Leases](https://ledgerage.com/standards/asc-842): ASC 842 is the US GAAP leasing standard. It requires a lessee to recognise a right-of-use (ROU) asset and a le… - [IFRS 16 — IFRS 16 — Leases](https://ledgerage.com/standards/ifrs-16): IFRS 16 is the international leasing standard. Unlike US GAAP it uses a single lessee accounting model: almost… - [GASB 87 — GASB 87 — Leases](https://ledgerage.com/standards/gasb-87): GASB 87 is the leasing standard for US state and local governments. Like IFRS 16 it uses a single model: a les… ## Key concepts (glossary) - [Right-of-use (ROU) asset](https://ledgerage.com/glossary/right-of-use-asset): A right-of-use asset is the lessee's right to use a leased asset over the lease term, recognised on the balance sheet at the lease liability plus prepaid payments and initial direct costs, less incentives. - [Lease liability](https://ledgerage.com/glossary/lease-liability): The lease liability is the present value of the remaining lease payments, discounted at the rate implicit in the lease or the lessee's incremental borrowing rate. - [Incremental borrowing rate (IBR)](https://ledgerage.com/glossary/incremental-borrowing-rate): The incremental borrowing rate is the rate a lessee would pay to borrow, over a similar term and with similar security, the funds needed to obtain an asset of similar value. - [Discount rate](https://ledgerage.com/glossary/discount-rate): The discount rate is the rate used to present-value the lease payments — the rate implicit in the lease if determinable, otherwise the incremental borrowing rate (or, for some entities, a risk-free rate). - [Present value of lease payments](https://ledgerage.com/glossary/present-value-of-lease-payments): The present value of lease payments is the sum of each future payment divided by (1 + periodic rate) raised to the number of periods until that payment. - [Initial direct costs](https://ledgerage.com/glossary/initial-direct-costs): Initial direct costs are incremental costs of obtaining a lease that would not have been incurred if the lease had not been obtained — they are added to the right-of-use asset. - [Lease incentive](https://ledgerage.com/glossary/lease-incentive): A lease incentive is a payment made by the lessor to or on behalf of the lessee, such as a tenant improvement allowance or rent-free period, that reduces the right-of-use asset. - [Operating vs finance lease](https://ledgerage.com/glossary/operating-vs-finance-lease): Under ASC 842, a lease is a finance lease if it meets any of five criteria (ownership transfer, purchase option, major part of economic life, substantially all of fair value, or specialized asset); otherwise it is an operating lease. - [Short-term lease exemption](https://ledgerage.com/glossary/short-term-lease-exemption): A lessee may elect not to capitalise leases with a term of 12 months or less and no reasonably-certain purchase option, expensing the payments straight-line instead. - [Lease modification](https://ledgerage.com/glossary/lease-modification): A lease modification is a change to the scope or consideration of a lease that was not part of the original terms, requiring the lessee to remeasure the lease liability. ## Lease types / asset classes - [Office & real estate](https://ledgerage.com/asset/office-real-estate): Office and commercial property leases are the most common ASC 842 leases — typically long-… - [Vehicles & fleet](https://ledgerage.com/asset/vehicles-fleet): Company cars and fleet vehicles are typically 3–5 year leases paid monthly. Depending on t… - [Equipment & machinery](https://ledgerage.com/asset/equipment): Manufacturing and construction equipment leases are often finance leases because the term … - [IT & data-center hardware](https://ledgerage.com/asset/it-hardware): Servers, laptops and data-center hardware are usually short-to-mid-term leases. Many quali… - [Retail space](https://ledgerage.com/asset/retail-space): Retail leases combine long terms, base rent with escalations, and frequently tenant improv… - [Warehouse & industrial](https://ledgerage.com/asset/warehouse-industrial): Warehouse and industrial property leases behave like other real estate: long-term operatin… ## Pricing Free: unlimited single-lease calculator + 25 API computations/month (every API response — schedule, journal entries and disclosures included — is available on any plan; the API is metered, not feature-gated). Pro ($39/mo): unlimited saved-lease portfolio, Excel/CSV/PDF workpaper exports, in-app journal-entry & disclosure output, lease modifications, and 5,000 API computations/month. Details: https://ledgerage.com/pricing ## Note Results are computed deterministically from the standards and are informational; they do not constitute accounting or legal advice.