The introduction of IFRS 16 has meant significant reporting changes to lease accounting and as any accountant knows, building financial reports can be painful at the best of times.
That’s why we’ve worked closely with chartered accountants to develop a fully integrated IFRS 16 module which has been tested against over 1000 scenarios. Our IFRS engine will ease the pain of financial reporting whilst ensuring you remain compliant with reporting standards.
Here are some of the functionalities our customers love:
1. Our onboarding team – we have three tiers of onboarding for our clients to choose from and a dedicated team to help meet your needs. They can bulk upload spreadsheets, create custom content fields, and even read and interpret your source documentation to get you up-and-running within our platform.
2. It’s a cloud-based system – real-time data processing, allowing your data to be accessed securely, anytime, from anywhere.
3. Our support team – all our customers have access to our support team. Whether you have a question on using the platform or a more technical issue, they’re happy to help.
4. Reporting in minutes – from our onboarding process, all your data is in our system allowing you to run real-time reports across your global portfolio.
5. Say goodbye to excel with our custom reports – We’ve all taken the risk of crashing our computer to try and get excel to process something we know is going to be too much for it. The ability to create custom fields means you can run your custom reports, saving you hours. You also have the ability with our advanced custom reports to merge your reports to build out even bigger reports.
6. IFRS 16 compliant – This is where the magic happens. Our IFRS 16 module generates depreciation schedules, asset, and liability values for each lease across your entire portfolio. We’ve removed the complexity and saved hours by providing:
• End-to-end historic and forecast reports, simplifying restatements if required
• IFRS 16 journals
• Automatic generation of legal agreements (currently NZ only).
And most importantly… Our reports can be exported as csv, Excel or PDF files for you to submit to your finance team and auditors.
If you want to learn more about the Nomos One platform and how it saves you time and money with your lease accounting, schedule a demo today.