Education

Lease accounting and lease management designed for the education sector

Managing your education lease portfolio

Education facilities have many different leases, licences, easements and contracts to keep track of, including leases for land, buildings, fleets of vehicles, office equipment and other bespoke items. We know how important it is to manage your portfolios as closely as possible  – especially when it comes to keeping track of important dates and rates.

With leases and sub-leases stored in all manner of places, it can be difficult, if not impossible, to produce accurate, useful, consolidated reports on your property and asset portfolios and to management them efficiently.

Changes to lease accounting

If lease management wasn’t challenging enough, education providers are faced with the adoption of IFRS 16 the new lease accounting standard – effective 1 January 2019, which could make leases the most material item on your balance sheet.

Given the complexity involved, we recommend you invest in a lease management and lease accounting platform that is
IFRS 16 compliant.

 

Nomos One can help

Nomos One is the complete, cloud-based, lease management and lease accounting software solution for the management of leases, sub-leases, licences, sub-licenses, easements, grants, resource consents and general contracts.

With our software, you’ll benefit from automated calculations, a clear simple dashboard, event reminders, intuitive workflow, custom reports and fields, and the ability to automatically generate legal documents.

Our robustly tested IFRS 16 module automatically calculates right-of-use assets and lease liability and generates journals, depreciation and interest schedules, giving you complete confidence in your IFRS 16 compliance.

“It ticked all the boxes and has made a significant difference to my workflow and time management and means I am now in charge of the outcomes, not the other way round.”

University of Canterbury

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