IFRS Lease Asset Accounting Software
Real Asset Management’s (RAM) IFRS compliant lease accounting software imposes control over finance and operating leases linked to balance sheet items. Complete analysis of all lease obligations and contracts delivers better visibility and management of lease exposure.
- Full leasing details, including lease codes, accrual dates, descriptions and related asset codes can be added, viewed or maintained quickly and easily.
- User-definable payment plans can support every type of lease arrangement.
- Leases can be rescheduled simply to extend or reduce lease length or amend payment terms.
- Supports multiple interest calculation methods, including Equal, Actuarial and Sum-of-Digits (Rule of 78) or user defined.
- Operating and finance leases can be configured for monthly, quarterly, biannual or annual payment/income.
- Supports UK Accounting Standards Committee SSAP21 and the International Accounting Standards Board IAS 17.
- Integrated with asset history, depreciation and fixed asset register.
Utilise in-depth lease accounting to understand corporate exposure and comply with IFRS 16.
- Use Business Activity Monitoring to issue automatic email notifications and report alerts for key events including lease break clauses, expiry dates or auto-renewals.
- Set up lease specific payment plans to specify individual payment types and flag up payment paid in advance or in arrears.
- Manage the payment schedules associated with all operating and finance leases, splitting out both the interest and capital elements of the repayment.
Reporting and Forecasting
Comprehensive reporting provides detailed analysis of all repayment and interest expenditure, historical and future.
- Suite of standard reports including obligations analysis, commitments analysis and finance lease schedules.
- Create user definable reports for any range of past, current and future accounting periods and include locations, type, supplier and department.
- Restrict reports to display only those records with accrual dates within specified time periods.
- Ability to sort, sequence and filter reports by any user defined fields.
- Create statutory Year End Return as standard with year-end reports, breaking down the outstanding obligation by payments due next year, years 2 – 5 and year 5+.