RAM’s Lease Accounting Software will help you to:
Keep a complete audit history of all leases and related payments and events
Generate a Schedule of Payments automatically
Have full access to an audit trail, making it easy to adjust re-negotiated leases
Automate the rescheduling & termination of leases
Access short and long-term obligations statements at the click of a button
Benefit from a fully-automated process of apportioning lease payments
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New IFRS 16 leasing standard explained
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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.
- 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+.