If you have over 100 leases the experts are saying that you will need a leasing system for compliance to IFRS when transitioning to IFRS 16. The complexities involved in data collection and reporting are too complex to be done in Excel.Many clients are looking for a system that can meet several different business requirements. They want to centralise their lease database, and have a repository of all lease documentation, as well as comply with the requirements of the new standard.
LOIS tackles the more challenging aspects of lease accounting compliance with an array of new features, tools and automated processes that make confronting even the most complex portfolios effortlessly simple with:
- An intuitive interface with a full overview at various levels.
- Comprehensive IFRS 16 functionality including forecasting, modifications & journals.
- Full asset & lease management functions.
- The ability to export and import with ease, view & analyse advanced search data.
Why wouldn’t you want to meet LOIS?
Standard Functionality includes:
- IFRS 16 transition and report: LOIS can handle all transition methods and exemptions with ease. Run different scenarios so you can model each transition method and assess the impact on key financial statements.
- All leases & data in one place: The user dashboard provides you with a consolidated overview of all the active leases within your organisation.
- Simple to add leases: Upload your lease data with ease, LOIS can manage Property, Fleet and IT equipment. Ensure all your critical lease information is centralised in one place.
- Manage lease life-cycle: All in-life lease amendments are catered for and cover all modifications.
- Amortisation & depreciation schedules: LOIS will also generate the complex calculations and all transition options with ease, whilst providing full general ledger functionality and a comprehensive audit trail.
- Workflows, multiple users & hierarchy: Create multiple user accounts with customised access levels so you can work with the real-time data you need. LOIS is designed for everyone in your organisation who is involved with leasing.
For more info check out www.loisleasing.com.au