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Lease Accounting Software assisting with IFRS 16 compliance

RAM’s lease accounting software improves the management of leased assets and provides visibility of lease exposure and management, giving you the information needed to help comply with IFRS 16. As the new regulations take effect in 2019, classification as a finance or operating lease will become redundant as all leases will be accounted for on the balance sheet. RAM’s lease accounting software fully integrates with its fixed asset accounting module, making it the practical solution for IFRS 16 preparations.

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RAM’s Lease Accounting Software will help you to:

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Keep a complete audit history of all leases and related payments and events

 
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Generate a Schedule of Payments automatically

 
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Have full access to an audit trail, making it easy to adjust re-negotiated leases

 
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Automate the rescheduling & termination of leases

 
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Access short and long-term obligations statements at the click of a button

 
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Benefit from a fully-automated process of apportioning lease payments

 


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FREE Fact sheet

New IFRS 16 leasing standard explained

FREE Fact sheet

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How will IFRS 16 affect you?

 

Lease Accounting Features

  • 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.
  • Integrated with asset history, depreciation and fixed asset register.


Impose Control

  • Utilise in-depth lease accounting to understand corporate exposure and assist compliance with IAS 17 and the upcoming IFRS 16 regulations.
  • 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 obligations by payments due next year, years 2 – 5 and year 5+.