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.
Staying compliant
Instant start
Start today with Soft4Lessee subscription-based model (SaaS) hosted in Cloud or enjoy the freedom of custom development with a purchased license.
Flexible
Can be developed and adjusted if needed – grow at your own pace. Available on-premises or as a monthly subscription in the cloud.
Trusted platform
Powered by Microsoft Dynamics NAV. Grow your business on a single, secure and scalable platform.
What can you do with Soft4Lessee?
Manage your transition to the IFRS 16/ ASC 842/ AASB 16 standard without a headache
Data Import / Export
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.
Lease Agreement Data Management
Have a database of your lease agreements, with three major statuses – new agreements under consideration, active leases, and archived leases (expired, or terminated early). Import data from Excel sheets or XML data files, or populate data via webservice.
Re-measurement
As circumstances change, the system can calculate adjustments to lease liability and right-of-use asset value, and produce G/L postings accordingly.
Reports for IFR16 Presentation and Disclosures
Get ready reports which you need for your financial reporting and prepare additional information for IFRS16 disclosures.
Accounting for Lease Liability
Calculate lease liability as the present value of lease payments, and the present value of amounts due at the end of the lease term, considering purchase or termination options. The system will automatically adjust lease liability as the circumstances change.
Accounting for right of use asset
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.
Even more great features. Check them out:
Accounting Standards
Select the lease accounting standard:
IFRS 16 software
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.
ASC 842 software
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 software
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.
Talk to our expert about choosing IFRS 16/ ASC 842/ AASB 16 transition options
50+ Projects Completed Across the Globe
“It was a pleasure to work with Soft4 team. The project went very smoothly and the time schedule was perfectly met. All Soft4 contact persons were very friendly, helpful and had a good expertise regarding IFRS 16 accounting rules. Furthermore, we like to highlight the short response time, which is very helpful during the implementation period.”
Manager Accounting at XING SE, Germany.
“It has been so nice working with the Soft4 team on the Vietnamobile project, from the contract negotiation to the Soft4Lessee system implementation so far. Our Vietnam team finds Soft4Lessee is very helpful and efficient in executing the implementation, particularly Linas who has been helping us solving many practical issues throughout the implementation. As to the product, the Soft4Lessee solution plus some additional features added to the system for local requirements, satisfies our needs for this new accounting and reporting compliance.”
Regional Senior Manager – Telecommunications Management Reporting, Systems and Compliance CK Hutchison Holdings Limited
“We chose Soft4 and Soft4Lessee because, currently, we are using Microsoft Dynamics 365 as our financial tool for reporting and Soft4Lessee is set up on the same Microsoft Dynamics platform, so we thought it was going to be easy for any future interface/integration. Soft4Lessee is great, user-friendly and very cost-effective which can fulfill our requirements. We are very happy with the Soft4 team, they are very polite, friendly, cooperative and they helped us through the data setup process without any trouble.”
Business & Financial Analyst, Yusen Logistics Australia Pty Ltd.
“During our evaluation process, we found SOFT4Lessee as the most matured product in comparison to others. It was suitable for us to start our journey into IFRS 16 compliance. The user friendliness, easy navigation, compatibility with Excel – all add to the nice end-user experience. The SOFT4 team is very knowledgeable, not only on the product but on the IFRS16 standard as well. They have been very professional in all their deliverables. We would like to acknowledge Linas for his contribution and support whenever we needed.”
Director IT, Oasis Investment Co. L.L.C.
