Description:

Holds all lease contracts in a register - centrally or per business unit/entity – and automatically calculates lease payment and amortisation schedules from the contract information.

With the ability to handle multiple lease modifications - changes in consideration, extensions or shortening of lease term, partial and full termination of leases, purchase options – the solution calculates the correct remeasurement adjustments for Lease Liabilities and ROU Assets, and any postings to P&L Gain/Losses.

The schedule is supported by a simulated view of journal entries before any journal is created. It is then possible to automatically generate all the journals entries required for IFRS 16 in the form of OneStream Journals or as an Excel Extract to be posted back into ERP.

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Benefits:

• Centralised solution for storing all lease contract information where all leases are calculated using a consistent approach

• Flexibility to post journals either directly into OneStream or back into the ERP

• Removes the risks associated with a complex model maintained in excel

• Low maintenance for users once initial leases have been entered

• Speed – A more efficient process, with big time savings in handling contract modifications