RAM’s Lease Accounting Software will help you to:
Convert existing leases from 'operating' to 'finance' using an in-built transition wizards
Simplify the task of putting together year-end and month-end reports
Generate a Schedule of Payments automatically
Input incentive and deposit/up-front payments and determine the correct fair value
Access short and long-term obligations statements at the click of a button
Enter interest rates and calculate Present Value and Net Present Value for arrangements
Manage variable payment terms e.g. based on fluctuating factors
Reschedule lease payments based on indices e.g. Consumer Price Index
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New AASB 16 / NZ IFRS 16 leasing standard explained
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Lease Accounting Features
- Full leasing details, including lease codes, accrual dates, descriptions and related asset codes can be added, viewed or maintained quickly and easily.
- User-definable payment plans can support every type of lease arrangement.
- Leases can be rescheduled simply to extend or reduce lease length or amend payment terms.
- Operating and finance leases can be configured for monthly, quarterly, biannual or annual payment/income.
- Integrated with asset history, depreciation and fixed asset register.
- Utilise in-depth lease accounting to understand corporate exposure and assist compliance with AASB 117 and the upcoming AASB 16/NZ IFRS 16 regulations.
- Use Business Activity Monitoring to issue automatic email notifications and report alerts for key events including lease break clauses, expiry dates or auto-renewals.
- Set up lease specific payment plans to specify individual payment types and flag up payment paid in advance or in arrears.
- Manage the payment schedules associated with all operating and finance leases, splitting out both the interest and capital elements of the repayment.
- Comprehensive reporting provides detailed analysis of all repayment and interest expenditure, historical and future.
- Suite of standard reports including obligations analysis, commitments analysis and finance lease schedules.
- Create user definable reports for any range of past, current and future accounting periods and include locations, type, supplier and department.
- Restrict reports to display only those records with accrual dates within specified time periods.
- Ability to sort, sequence and filter reports by any user defined fields.
- Create statutory Year End Return as standard with year-end reports, breaking down the outstanding obligations by payments due next year, years 2–5 and year 5+.