Lease Accounting Management is a compliant lease accounting management solution for lessees, where Lease automation routines provide all the calculations required for compliance.
Centralised lease register which allows the users to record and manage their lease contracts so that they are reflected on the balance sheet in accordance with IFRS 16 and ASC842 accounting standards.
You are able to manage all lease liability data in alignment to lease contracts and individual lease lines provided by the lessor so that you can ensure accounting compliance.
The solution calculates the initial measurement of the right-of-use asset, which consists of lease Liability, lease payments and any direct costs incurred by the lessee and their postings to the general ledger.
By allowing for the recognition of right of use assets, these assets can be depreciated over the lease term or over the useful life of the underlying asset.
What our solution can offer
Peace of Mind
Accountants and financial managers will have peace of mind that the required accounting compliance for their lease contracts has been met, where right of use assets and lease liabilities are presented separately on the statement of financial position
Profit and Loss
In the profit and loss statement, you can present the interest expense on lease liability and the depreciation charge for the right-of-use asset. The non-lease component included in lease payments goes separately to operating expenses.
Cashflow Analysis
In the cash flow statement, users can present separate cash payments for the principal portion of the lease liability and interest portion. They can breakdown payments for low-value and short-term leases, which are included in cash flows from operating activities
Terminate or Purchase Options
Using the data relating to the lease, a user can then make informed decisions of whether to terminate the lease or purchase the asset.