Lease accounting software for IFRS 16
Implement lease accounting faster
IFRS 16 for lease accounting is designed to improve reporting accuracy and transparency by requiring lessees to recognize all leases on their balance sheet.
Unit4 FP&A includes a dedicated lease management accounting application to enable the recognition, measurement, presentation, and disclosure of leases as set out in international standards such as IFRS 16 and UK & Ireland standards such as FRS 102.
Watch this recorded demo to get a flavor of how we can transform IFRS 16 lease accounting for your teams.
Key capabilities
Identify the effects of each leasing contract on the balance sheet
Track lease P&L, liability, and asset use KPIs for IFRS 16 and FRS 102
Use the intuitive simulation and analysis options to understand the full picture
Comply with international lease accounting standards
Step 2
Identify the effects on accounting for each contract and aggregate the effects for each selected dimension (such as contract group, company, cost center, group, etc.).
Step 3
Create a posting template to transfer data to the ERP or consolidation system to adjust the (consolidated) financial statements according to IFRS 16.
Create a better way to work
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Automate the import of leasing contracts and database-driven recording.
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Multi-user, secure data storage and transparent calculations.
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Identify the effects on your balance sheet, P&L and KPIs with a single click.
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Monitor adjustments to scope of leasing terms with ease.
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Manage the impact of leasing KPIs with external stakeholders such as investors and lenders.
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Simulation and analysis options (including visualizations).
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Compatibility with all ERP or consolidation systems.
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A cost-effective and easy to implement (5-10 days) cloud-based solution.
Using the Unit4 IFRS 16 software solution, we can import all of the lease contracts quickly and easily. We can then identify the effects of accounting for each contract, and aggregate those to different cost centers.
Robert Abery
Management Accountant, East of England Ambulance Service NHS Trust
Ensure public sector lease compliance with IFRS 16
IFRS 16 standards are coming into force for public sector organizations in 2024. If you’re still using legacy software to manage lease accounting, this will create extra manual work for your finance teams.
What is IFRS 16 and how will it impact organizations in 2024?
Read our blog to discover more about the challenges organizations will face as they transition to the new lease accounting standard and how Unit4 can provide a cloud-based solution.
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