Lease-16 is our off-the-shelf accounting IFRS 16 Lease management solution which allows Organisations to easily manage leasing obligations in full compliance with the IFRS 16 Lease accounting standards.

Lease 16 is built on IBM Planning Analytics with Watson and is available for Cloud deployment.

Key features:

  • Configured to manage any leasing scenario specific to your business requirements
  • Manages the complete lease accounting process from contract creation through to expiration and modification.
  • Includes rules to calculate right-of-use (ROU) assets and lease liabilities, including future payments, interest and depreciation
  • Reporting in Excel and web front end

 

Contact Us

Need a software solution for IFRS 16 compliance?
Look no further than Lease 16

Lease 16 is a simple to use web and Excel based tool developed to enable full reporting compliance with the IFRS 16 standards that came into force on 1 January 2019.  With Lease 16, you can easily oversee the movement of lease liability, including lease payments, interest payments, depreciation and other services received during the life of the contract. The data is stored in multi-dimensional cubes, enabling users to slice and dice the figures for analysis, forecasting and what-if scenario modelling. Lease 16 is featured in Finance Director Europe magazine–read the article here.

What are the features?

  • Produces schedule of payments across the entire life of the lease
  • Produces journal entries required for each company to ensure compliance in reporting viewable at a contract or aggregated level of detail
  • Determines which leases meet the length and materiality thresholds
  • Ability to import or export to and from external systems and bulk upload from file
  • Handles transition rules
  • Handles currency conversion
  • Can use centralised discount rates matrix
  • Customisable interface and functionality to make a bespoke solution

In addition, an IFRS 16 qualifier is built in, to ensure that the contract in question qualifies as a lease under IFRS 16. It can determine whether the contract includes:

  • An identified asset
  • The right to obtain substantially all the economic benefits from using the identified asset
  • The right to direct the use of the identified asset

Get in touch to find out more about Lease-16

 

Get in Touch

For any enquiries, please fill in the contact form or contact us via phone or email. We look forward to speaking with you soon.

Call us

0330 124 2797

Email us

contactus@aramar.co.uk