A straightforward system
Our system has a simple interface to input the required data. It will then automatically generate the right of use asset, liability, interest and depreciation schedules, in addition to the corresponding lease expense for the life of the lease.
Throughout the life of the lease when an event has an impact on the balance sheet, the software will automatically take these into account and recalculate the right to use asset and liability adjustment. Included in these calculations are incentives received, such as fit out contributions, rent and partial rent-free periods, additional costs such as legal fees, dilapidations and asset adjustment through impairment.
These schedules are fully reportable with a suite of reports based upon IFRS 16 guidance provided. The schedules are exportable to
excel for modelling purposes and can be automatically delivered for use in corporate accounting systems to avoid manual journaling.
We also provide dual reporting for those companies that need to report leases to both IFRS 16 & ASC 842 simultaneously.