Benefits of Leasing

Lease accounting can take a considerable amount of time if you do not have adequate system support. Many organisations still attempt to run calculations and generate end of period postings using spreadsheets. The Leasing module is designed to reduce the amount of time you are spending updating your list of leases and grouping final figures for posting purposes.

Flexible set up

You can bulk load all of your cost centres, profit centres, codes and classifications and hold recoverable and non-recoverable tax rates. The lease can be coded using fixed asset codes and any other set of codes you require and allows you to configure the lease detail to match your specific needs.

Bulk Load of Lease Additions and Changes

The system has a number of bulk-load templates in excel format. A bulk loader process is available to guide you through each step of your process. The file can contain all your disposals, changes and additions allowing the system to generate all of your lease details and post new capital items or amendments into Fixed Assets.

Bulk Load of Invoices received

The template for loading invoices allows you to bulk update your invoices paid against leases and generate any changes to fixed assets caused by changes in tax rates or payment terms. The system can differentiate between capital, revenue, service, maintenance and tax elements.

Easy General Ledger Posting

The GL rules engine allows you to construct as many different period transactions to meet your full lease posting needs. The format of the journal file can be customised and posted direct into your finance system of choice. A full audit trail and drill down is supported.

Mid Term Changes

Any mid term changes in the structure of the lease are supported subject to security rights. Full or part settlement is also supported. All required changes are audited and will be handled by the GL posting reconciliation.

Flexible Reporting

The system has many standard reports allowing download to excel and also provides user reporting.

Links to Fixed Assets

All financial leases can be linked to fixed assets, including forecast or budget leases. Any change in the values of the lease will generate a related change in the fixed asset system via the controlled asset in-trays.