Fill in the form to learn more about our software solutions and services for workplace management, lease administration and lease accounting.
Ensure compliance using software specially designed to manage your real estate and equipment leases
Our lease accounting software has always operated to ensure compliance with core accounting and financial reporting regulations, including IAS 17 and the new IASB IFRS 16 and FASB ASC 842 standards. This means that by using our software, businesses can automate calculations that are otherwise time-consuming, prone to error and difficult to audit in a spreadsheet or separate software approach. Designed as an open information system, the calculated values can be interfaced through to corporate accounting systems to avoid manual journal creation. In addition, fields have been added that capture discount rates, assumed end dates of the lease (taking into account break clauses and extensions, plus comments to satisfy auditors as to why this date has been chosen), incentives, costs and dilapidations.
Lease Accounting Software Features
Time saving calcuations
Automatic recalculations and associated balance sheet adjustments when leasing events require it, such as extensions and terminations.
Automated Alerts
Alert functionality for notifications when critical information changes. Finance can also be notified when a new lease is under negotiation.
Comprehensive reporting
New disclosure reports providing details of right-of-use assets, interest, amortisation, cash flow and weighted terms.
What if scenarios
Scenario modelling of new leases to aid decision-making when considering the impact of new contracts on the balance sheet.
![Lease Accounting - [Report] The value of software for real estate occupiers](https://www.mrisoftware.com/za/wp-content/uploads/2020/10/CTA-free-report.png)
[Report] The value of software for real estate occupiers
Based on interviews with more than 50 top executives at multinational organisations, we explore evolving digital strategies for lease accounting and workplace management. The report covers the top priorities for real estate leaders and decision-makers, and how they are maximising value from their software investments.
Advantages
Property & equipment leasing
IFRS 16 & ASC 842 compliance for both property portfolio materiality and non-property assets.
Lessor accounting
IFRS 16 & ASC 842 compliance for lease receivables linked to a head-lease payable, whether the subtenant is a third party company or intercompany.
Lease level accounting
Audit trail for each lease of all balance sheet calculations, each displaying amortisation, opening/closing liability, interest, depreciation etc for each period in line with company-specific accounting calendar.
Discount rate management
Definition and management of discount rate strategy - lease by lease, implicit, asset class.
Dual reporting
Group Vs Entity Reporting, IFRS 16 and ASC 842 dual reporting for organisations requiring to declare the impact on the balance sheet of leases across multiple entities within a global group.
Lease exemptions and classifications
Automated classification of short term leases and small value lease exemptions, along with FASB operational and finance lease classifications.
Adoption method modelling
Model leases on full retrospective, modified a, modified b to understand the material impact.
Accounting periods
Compounding on a daily rate or monthly rate in line with a client’s accounting calendar i.e. standard calendar months, 13 weeks, retail and manufacturing accounting periods (4-4-5).
Disclosure reports
Lessee and lessor disclosure reports (IFRS 16 & ASC 842).
Journal postings
IFRS 16 & ASC 842 journal entries per period – standard reporting or ability to interface to ERP.
Resources
Key Facts
400+
OVER 400 LEASE ACCOUNTING IMPLEMENTATIONS
100+
USED IN 100+ COUNTRIES
1000+
TRUSTED BY MORE THAN 1000 PROPERTY OCCUPIERS
