Lease accounting and lease management software designed for the retail sector
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Manage your portfolio with our retail lease management software

Nomos One delivers a leading retail lease management software solution and lease accounting platform that can help you achieve IFRS 16 compliance, streamline the transition and reporting process, and is trusted by expert chartered accountants and auditors internationally.

Nomos One’s lease accounting software assists both your accounting team and property management team in managing large and complex leasing portfolios. In our experience, most retailers are prolific lessees with many leases and sub-leases across their flagship stores and shopping malls, airports and regular outlets. Our retail lease management software can help you manage your portfolios as closely as possible and make informed decisions around growing your business. Our convenient lease accounting software solution also enables retailers to manage their leases and contract agreements in one place.

At Nomos One, we understand the importance of managing your retail lease portfolio closely. Vigilant portfolio management is critical when it comes to making informed decisions around supporting your operational business needs. Investing in lease accounting software can help your business to streamline and better manage your retail lease portfolios.

Laptop with a preview of lease management software.

The challenges of lease accounting in retail

In addition to the regular challenges of lease management, retail businesses are faced with the challenges of IFRS 16. IFRS 16 will directly impact the financial performance and value of your company. It is essential to adhere to the IFRS 16 standards in your retail operations. Given the complexity involved in lease accounting under IFRS 16, we recommend those operating in the retail sector invest in a lease management and lease accounting platform that can help you achieve IFRS 16 compliance. Our retail lease management software will ensure that your lease portfolio is up to date with easily actionable notifications that help you meet protocol milestones with confidence.

Lease management designed for retail

Nomos One is a comprehensive, cloud-based, lease management and lease accounting software solution designed to accommodate a large range of retail leased assets. This is the lease accounting and management software your business needs to ensure the efficient management of leases, subleases, licences, sublicences, easements, grants, resource consents and general contracts.

Nomos One offers a number of benefits that will save your business time and effort. Our lease accounting software offers advantageous features for many retail businesses, including automated calculations, a coherent and straightforward dashboard, event reminders, a user-friendly workflow, custom reports and fields, and the ability to automatically generate lease documents. Our robustly tested IFRS 16 modules automatically calculate right-of-use assets, lease liabilities, depreciation and interest expenses, and generate the resulting journals accordingly.

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What is lease accounting?

Lease accounting is the recognition of the transactions and balances associated with lease contracts and events for a business’ financial reporting. Both lessors and lessees are required to account for lease transactions, though each in different ways. With the introduction of IFRS 16 (AASB 16), lessees are required to recognise a lease liability and a right-of-use asset, while little has changed for lessors, who continue to differentiate between operating and finance leases.

What is lease accounting software?

Lease accounting software is a tool that empowers enterprises to manage their lease portfolio more effectively. Lease accounting software is designed to centralise information and effectively automate previously manual administrative tasks. Lease accounting software assists businesses in managing their lease and accounting regulations.

The software eliminates the requirement for paper trails, and most quality software will set reminders for the business’ upcoming financial milestones to ensure that critical dates are never overlooked.

What is IFRS 16?

Under IFRS 16, retail businesses are required to recognise a lease liability for the future expected lease payments as well as a corresponding asset that represents their right to use the leased asset.

The lease liability is based on the present value of the future fixed and in substance fixed lease payments. The liability is an amortising liability whereby interest is accrued and expensed over the life of the lease.

The right-of-use asset is equal to the lease liability at the beginning of the lease liability calculations (subject to any prepayments, initial direct costs incurred, and estimated restoration obligations) and is depreciated systematically over its useful life.

Who needs lease accounting software?

Essentially, lease accounting software is designed to meet the needs of finance teams, accountants, auditors and property managers.

Lease accounting software solutions may be necessary for anyone who has to manage leasing activities, the financial impacts of leasing, and comply with lease accounting standards. This includes property investors, tenants, lessors, real estate agents, small business owners and accountants.

Both tenants and the lessor can utilise lease accounting software to manage all types of real estate assets. Quality, reliable and advanced lease accounting software has become crucial in recent times for both lessees and lessors to assist towards compliance with ever-evolving lease-specific accounting and depreciation standards.

What is the best lease accounting software?

The best lease accounting and lease management software will provide clients with access to the following features:

  • Access to an asset portfolio in a centralised location
  • A customised dashboard
  • Tailored, consolidated reporting and fields
  • Cloud-based location
  • Automated calculations
  • A simple dashboard
  • An intuitive, user-friendly platform
  • Event reminders and milestone notifications
  • Coherent workflows
  • Automation of administrative tasks
  • Ongoing support for new users

Nomos One provides retail businesses with these attributes and more. Our retail lease management and lease accounting software features a user-friendly workflow, with a coherent straightforward dashboard and centralised access to lease information. Nomos One automates administrative and time-consuming tasks such as calculation, event reminders and the generation of lease documents. Furthermore, Nomos One provides custom reporting and field generation to ensure that your analysis is relevant to the aviation sector.

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