Lease Accounting Software

RAM’s lease accounting software provides better visibility of lease exposure and improves lease management while assisting in compliance with new IASB regulations taking effect in 2019. The software enables the reporting of leases on the balance sheet—a key requirement of IFRS 16.

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.
  • Integrates with asset history, depreciation, amortization and fixed asset register.

Impose Control

  • Utilize in-depth lease accounting to understand corporate exposure and assist compliance with IAS 17 and 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 payment plans to specify individual payment types and flag up payments paid in advance or in arrears.
  • Manage lease payment schedules, 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+.

Compliance with Corporate Governance

  • Supports Accounting Standards Committee SSAP21 and the International Accounting Standards Board IAS 17 and IFRS 16 (effective from January 1st, 2019).



 

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