FMIS Lease Accounting helps finance teams manage property and equipment leases under revised FRS 102. Maintain lease records, calculate right-of-use assets and lease liabilities, and prepare postings and reports in one system.
Manage initial setup and ongoing reporting with FMIS implementation support and a choice of cloud or on-premise deployment.
Updated by: John de Robeck • Updated: October 12, 2026
FMIS supports companies reporting under FRS 102 that manage leases from the lessee’s perspective. It gives accountants, finance managers and financial controllers a maintained lease register, calculated schedules and period outputs for review.
It is particularly useful where recurring reporting, rent reviews or other changes make separate spreadsheets difficult to maintain. Records can be entered individually or imported from Excel, with reporting available for individual companies and company groups.
This page explains how FMIS handles the work, which outputs your team can review and what is involved in implementation. For an overview of the wider product, visit our Lease Accounting Software page.
The revised Section 20 lease requirements apply to accounting periods beginning on or after 1 January 2026. Lessees recognise right-of-use assets and lease liabilities for most leases, subject to the standard’s scope and exemptions.
For your finance team, this means maintaining the records and calculations behind the balances, recording changes and preparing supporting information for each reporting period.
For the accounting requirements, exemptions, borrowing rates and transition decisions, read our FRS 102 Lease Accounting Guide.
Use agreed lease terms, payments and discount rates to calculate lease liabilities and right-of-use asset values. Review the schedules behind the resulting figures.
Process revised payments, changes to lease terms and early terminations. Review updated values alongside retained versions of the lease.
Produce postings, liability information and reconciliation reports. Use period controls to restrict changes after your team’s review.
Move from a portfolio balance to the individual records behind it. FMIS provides summary and detailed reports to help your team reconcile lease values and prepare information for financial reporting and audit queries.
| Reporting task | FMIS output or process |
|---|---|
| Review payments, interest and liability balances | Calculated lease schedules and Lease Values by Period reports. |
| Review current and non-current lease liabilities | Values by Year reporting, with liability splits across future periods. |
| Explain movements in lease and right-of-use asset values | Reconciliation reporting covering additions, adjustments and terminations. |
| Review future payments | Future Payments reporting at summary or individual lease level. |
| Prepare entries for your finance system | Configurable general ledger posting rules and exportable posting lines. |
| Check changes to recorded lease information | Lease version history and an Audit Log report. |
Excel and PDF outputs are available for many reports. During a demonstration, we can compare the available outputs with the information your team needs for its FRS 102 accounts and supporting schedules.
Example FMIS reconciliation report showing lease liability and right-of-use asset movements. Source: Lease Accounting v12.47 manual. Select the screenshot to enlarge it.
Close the accounting period once your team has reviewed its outputs. This locks values against subsequent changes affecting that period.
Where a correction requires a period to be reopened, authorised users can reopen and reprocess it under your agreed finance procedures. Any entries already transferred to the finance system must also be reviewed and reconciled; reopening FMIS does not automatically reverse those entries.
St George’s University Hospitals NHS Foundation Trust added FMIS Lease Accounting in 2022 to support its IFRS 16 transition, building on its existing FMIS Fixed Assets system.
The implementation addressed a practical challenge: importing existing finance leases while retaining asset identifiers and linking records between the two modules. The approach was designed to avoid duplicate right-of-use assets, with specialist guidance on reconciling asset values and handling adjustments.
This is an IFRS 16 implementation example showing FMIS migration and reconciliation experience; it is not evidence of a revised FRS 102 implementation.
Read the St George’s fixed asset and lease accounting case study
Create individual records or import leases using the FMIS Excel template. Record the dates, payment terms, discount rate and analysis information needed for your calculations and reporting.
Payment cycles include monthly, quarterly and annual payments, with payments made in advance or arrears. Import checking identifies errors that need correction before the records are loaded.
FMIS calculates the lease liability and right-of-use asset values from the information entered. Review payments, interest and liability balances over the lease term.
Your finance team determines the lease term, discount rate and accounting treatment, including which contract components and payments should be included.
Review payments, interest charges and opening and closing liability balances. Select the screenshot to enlarge it.
Record revised payments following a rent review, amend the lease term or process an early termination. Review the effect on the schedule and related accounting values.
FMIS retains previous lease versions so your team can examine the information before and after an adjustment. Imports are also available for adjustments and terminations.
Compare existing and revised lease terms when processing an adjustment. Select the screenshot to enlarge it.
Check period values and generate postings using the agreed account mapping and posting rules. Review new leases, adjustments and terminations before completing the period.
Where FMIS Fixed Assets is used to manage linked right-of-use assets and depreciation, the implementation establishes the relationship between the modules and the processing sequence.
Choose a deployment approach that fits your hosting policies, IT resources and data residency requirements. FMIS Lease Accounting is available through FMIS Cloud or as an on-premise installation.
Our UK-hosted cloud service uses UK data centres. Your IT team can review the proposed service, access arrangements and responsibilities with FMIS.
Install FMIS Lease Accounting within your organisation’s infrastructure where internal hosting is required. We agree the infrastructure, access and support requirements before implementation.
FMIS holds ISO 27001, ISO 9001 and Cyber Essentials Plus certifications. Our Trust Centre provides information about security, cloud hosting, data protection and business continuity.
FMIS implementation support covers requirements, setup, data imports, training and user acceptance testing. We agree company structures, reporting codes, accounting periods and required outputs with your team.
The scope should include how exemptions are recorded, who can amend key inputs and how period outputs are reviewed.
FMIS Lease Accounting provides specialist calculations and reporting alongside your existing accounting system. Postings can be exported to Excel, with account mapping and the transfer process agreed during scoping.
Where a specific interface or export format is required, we assess it against your finance system and include the necessary work in the proposal.
Training covers maintaining records, processing changes, reviewing schedules and producing period outputs. The FMIS team provides ongoing support for technical and functional queries.
The implementation timetable depends on your data, portfolio complexity, deployment choice and integration requirements. We agree the schedule after reviewing these with you.
The starting point depends on whether you are applying revised FRS 102 for the first time, replacing spreadsheets or moving from another system. We agree the records, dates and values to be loaded, then establish how your team will validate the results.
Before importing data, agree the reporting start date and how the opening liability and right-of-use asset values will be established. Include any relevant existing asset balances and adjustments in the implementation scope.
Compare imported records and calculated outputs with the agreed opening position before relying on the system for reporting. The approach should also identify which supporting information is retained outside FMIS.
Use the guidance below to explore the accounting requirements alongside your software assessment.
If your requirements also include depreciation and wider asset accounting, explore FMIS Fixed Assets. We can explain the proposed module setup during your demonstration.
Does FMIS support the revised FRS 102 lease requirements?
Yes. FMIS includes an IFRS 16/FRS 102 accounting setting and supports lease records, liability and right-of-use asset calculations, adjustments, postings and reporting. Your implementation establishes the inputs, configuration and outputs required for your FRS 102 reporting.
Do we need lease accounting software to comply with FRS 102?
FRS 102 does not require a particular software package. Dedicated software becomes useful when the volume of leases, recurring calculations and changes make spreadsheet processes difficult to maintain and review.
Can we import our existing spreadsheets?
Yes. FMIS provides Excel templates for new leases, adjustments and terminations. Implementation establishes the data format, opening position and checks required before using the imported records for reporting.
Who determines the discount rate and lease term?
Your finance team approves the accounting inputs, including discount rates and lease terms. FMIS uses the recorded inputs to calculate the schedule; it does not replace the judgement needed to select them.
Can we record short-term and low-value leases?
FMIS reporting can include or exclude records identified as short-term or low-value leases. Your team determines whether the FRS 102 exemptions apply, and implementation establishes how those records and any related expense postings are handled.
Can FMIS process rent reviews and early terminations?
Yes. FMIS supports payment and lease-term adjustments and early terminations, with retained versions for reviewing changes. Bring examples of your lease arrangements to the demonstration so we can show the relevant process.
What information can we use for our year-end accounts?
Available outputs include lease schedules, period values, current and non-current liability information, future payments and reconciliation reports. We compare these with your required disclosures and identify any additional information your team needs to prepare.
Does FMIS Lease Accounting support multi-currency?
FMIS Lease Accounting does not currently support multi-currency. If your lease portfolio includes more than one currency, discuss this with FMIS before selecting the software so we can assess suitability.
Does using FMIS guarantee compliance?
Compliance depends on complete records, appropriate accounting judgements, configuration and review. FMIS supports the work through calculations, reporting and controls; your finance team remains responsible for approving the accounting treatment.
How much does FMIS Lease Accounting cost?
Pricing depends on users, deployment and the agreed implementation scope, including migration, configuration, training and any interface work. Tell us your approximate lease count, company structure and finance system so we can prepare an itemised proposal.
Discuss your lease portfolio, current accounting process and reporting requirements with the FMIS team. We can use a demonstration to review relevant workflows, show the available outputs and assess the implementation work.
To help us prepare, tell us approximately how many leases you manage, which accounting standard you report under and which finance system you use.
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