Comply with new and existing lease accounting standards. Whether you have 100 or 3,000+ agreements – Soft4Lessee can help you manage your lease accounting effectively.
Comply with new and existing lease accounting standards. Whether you have 100 or 3,000+ agreements – Soft4Lessee can help you manage your lease accounting effectively.
Start today with Soft4Lessee subscription-based model (SaaS) hosted in Cloud or enjoy the freedom of custom development with a purchased license.
Can be developed and adjusted if needed – grow at your own pace. Available on-premises or as a monthly subscription in the cloud.
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Manage your transition to the IFRS 16/ ASC 842/ AASB 16 standard without a headache
Import and export to/from other systems, using one of the following methods (or combination of methods): webservice, Excel files, XML files. Soft4Lessee can interface with other asset management, contract management systems, the general ledger system, and the management reporting system.
Calculate RoU Asset value considering lease liability, costs before lease commencement and the expected cost of asset return (e.g. costs of equipment dismantling, costs of restoring leased premises). If the lease liability is re-assessed, the RoU asset value changes accordingly.
Select the lease accounting standard:
Under IFRS 16 businesses with large portfolios of operating leases will be impacted by the change in IFRS 16 lease accounting standards, as the new standard require lessees to recognize assets and liabilities arising from operating leases on the balance sheet. Get ready to meet the requirements and stay compliant with the standard with Soft4Lessee.
US GAAP standard ASC 842 will comes into effect on 1 January 2019. Companies, having large portfolios of operating leases will be influenced by this change as the standard requires all assets and liabilities regarding operating leases be presented on the balance sheet. Get ready to meet the requirements and stay compliant with the standard with Soft4Lessee.
AASB 16 introduces a single lessee accounting model requiring lessees to recognize all leases on the balance sheet, except for short-term leases and leases of low-value assets. This Standard applies to annual reporting periods beginning on or after 1 January 2019. AASB 16 is equivalent to IFRS 16 with extra paragraphs on Leasing Treatment for Non-Profit Entities. Stay compliant with the new standard with Soft4Lessee.
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