Trullion
AI platform for audit evidence collection and lease accounting
About Trullion
Trullion applies AI to the technically demanding areas of lease accounting (ASC 842), revenue recognition (ASC 606), and audit evidence management, targeting corporate accounting teams and audit firms grappling with these complex standards. The platform extracts relevant terms from contracts and leases, calculates the required accounting entries, generates disclosure schedules, and maintains the audit trail that regulators and auditors require. For organizations with large lease portfolios, Trullion automates the journal entries, amortization schedules, and disclosure calculations that ASC 842 demands. The revenue recognition module handles multi-element arrangements and variable consideration scenarios that create significant compliance risk when managed manually. Trullion's audit evidence management capabilities help firms organize and cross-reference the supporting documentation that underlies financial statement assertions. The platform integrates with ERP systems for seamless data flow. Trullion targets mid-market to enterprise organizations where the volume and complexity of leases, revenue contracts, or audit engagements justify automated tooling. The custom pricing reflects the specialized nature of the platform. Organizations with few leases or simple revenue streams will find limited return on the investment.
Best for
Accounting teams needing AI-assisted audit evidence and lease accounting compliance
Pros & Cons
Pros
- Specialized automation for ASC 842 lease accounting and ASC 606 revenue recognition.
- AI contract extraction identifies terms that drive accounting treatment.
- Complete audit trail satisfies regulatory and auditor documentation requirements.
- Handles complex multi-element revenue arrangements.
Cons
- Custom pricing creates a significant barrier for smaller organizations.
- Narrow specialization limits applicability to specific accounting areas.
- Implementation requires mapping to existing ERP and chart of accounts.
Integrations
User Reviews(47)
No reviews yet. Be the first to share your experience.