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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Transitioning from old accounting standards into the new IFRS 16, AASB 16 and ASC 842 provides numerous challenges for businesses. New regulations, more data that needs to be collected and processed as well as more complex duties for accountants that need to be carried out. However, instead of struggling with outdated lease calculators, opt for precise, professional and user-friendly lease accounting software for IFRS 16, AASB 16 and ASC 842 standards.
Our lease accounting software is able to do many things and offers tremendous versatility and flexibility to your business. For both SaaS and other types of businesses, the Soft4Lessee accounting solution helps your business do lease management accounting quicker, cheaper and with much less struggle.
With our software, you can automate a lot of processes, seamlessly import and export data from and into Microsoft Excel, integrate files of XML and other formats. Our software is tailor-made to suit the needs of modern-day businesses that are looking to simplify lease accounting and making it much more manageable for their accounting staff.
The application is developed to help reduce the workload of accounting staff. Soft4Lessee accounting software can generate reports almost instantly, gather, collect and manage vast databases of information, calculate numbers like lease payments, commission fees, RoU asset value and much more.
Watch our guided tour (demo) to get a better sense of how our all-in-one lease accounting solution works. This software is trusted by numerous businesses from around the globe!
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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