Lease accounting and lease management designed for the corporate sector
Managing your corporate lease portfolio
Leasing corporate offices, office equipment, computers, laptops, mobile phones and fleets of vehicles form a large part of your corporate business. Given the size of your lease portfolio, it’s important you manage it as closely as possible so you can make informed business decisions.
With leases and sub-leases stored in all manner of places, each with different termination dates, renewal options and rates, it can be difficult, if not impossible, to produce accurate, useful, consolidated reports on your fleet, property and asset portfolios.
Changes to lease accounting – IFRS 16
If lease management wasn’t challenging enough, you’re now faced with the adoption of IFRS, the new lease accounting standard – effective 1 January 2019, which could make leases the most material item on your balance sheet.
The new requirements will directly impact the financial performance and value of your company so it’s essential you get it right. We expect you to see an increase in recognised assets and liabilities, more leases recognised in earlier periods of a lease and less in later periods, a shift in lease expense classification and amortisation, and an increase in net debt/EBITA ratios.
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.
“Nomos One provides a one-stop shop for all site lease information, and the automated reminders mean key dates are not missed. Nomos One solves the challenge of managing our leases and ensures key information is accessible across our organisation.
The ability to store related site documents, such as site plans and photos, completes the package for me.”
Property Relationships and Project Manager