IFRS 16 compliant with the GlobalLeaseCenter

IFRS 16 GlobalLeaseCenter Process

You still balance leasing contracts with Excel? We have the safer and cost-efficient alternative!

Our web-based IFRS 16 software supports you not only in the calculation and booking of leasing contracts and the deter­mination of notes, but also in the decen­tralised recording and adminis­tration of contracts.

The complexity of the new IFRS 16 regulations often presents leasing-intensive companies with problems. This has come to an end with AMANA! Our IFRS 16 leasing software integrates all require­ments in our standard set, which guarantees a quick imple­mentation! With GlobalLeaseCenter you are ready to go in just a few days!

Ready to go in just four days - IFRS 16 compliant accounting with one accoun­ting tool:

On premise Lösung
On premise Lösung
GLCflexxx (Hosting)
GLCflexxx (Hosting)
Fast and efficient implementation
Fast and efficient imple­mentation
Personal consultant
Personal con­sultant
Services around your existing leasing process
Services around your existing leasing process

Leasing software due to new IFRS 16 regulations

IFRS 16 has turned the handling of leases with lessees on its head.

The new standard requires lessees to record all leases on the balance sheet which reflect their right to use an asset and the associated liability for payment. In the sub­sequent periods, depreciation and interest payable are recorded in the P&L. Short-term leases (of 12 months or less) and low-value leases are exempted. IFRS 16 also covers a range of rules concerning revaluations and modi­fications. Contract modi­fications and revaluations are recognised in the value of a right-of-use asset and the associated liability and, in certain circum­stances, in the P&L. With our IFRS 16 software you solve the regulations without any problems.

Contract management and posting compliant with IFRS 16 embedded in new processes

To imple­ment the guide­lines you must list and calculate all eligible lease contracts at the very least. This is the first step to be taken during the introduction of IFRS 16, although all subsequent new contracts will have to be listed later. In contrast to IAS 17, IFRS 16 prima­rily focuses on the recording of contract modi­fications and revaluations, and this is where our ex­perience shows Excel’s calculation capability to be pushed to its limits.

In particular, gathering lease data and their adjust­ments across all group companies often proves to be difficult and time-consuming. In the midst of all these redesigned processes, the IFRS 16 Software, the GlobalLeaseCenter can make life much easier for accountants.

Over the past two years, with our customers we have devised a standard approach that enables fast imple­mentation, putting you in a position to calculate and post contracts within a matter of weeks

IFRS 16 end-to-end-process

Installation
Installation
  • Webtool, installed centrally
  • Standard software
  • Minimal master data
  • Upload of key master data like interest curves
  • Effective training concept by AMANA (either on-premise or via WebEx)
Recording contracts
Recording contracts
  • Standard mask for entering contracts
  • Simple and intuitive – active user input guidance through each relevant contract dialogue, depending on the contract
  • Supported in the control process – main­tenance of contract portfolio including modi­fications
  • Contracts imported in XML or CSV format including modi­fications (add-on)
  • Numerous cash flows can be visualized (rent-free periods, daily rates, among others)
  • Attachment in PDF format
  • Automatic calculation of the lease term
  • Interest from master data auto­matically added
  • Infoboxes for storing details such as group accoun­ting guidelines
Calulation
Calulation
  • On the fly calculation and simulation of contracts
  • Cal­culation of all relevant information for the entire term of the contract
    • Liability (according to maturities)
    • Right-of-use asset according to asset class
    • Interest
    • Amortization etc.
Posting
Posting
  • Inte­gration of your IFRS accounts and transaction types
  • Standard posting document for import to the ERP system
  • ERP-inde­pendent
  • Transition postings
  • Posting of modifications
  • Cost centres, PO numbers etc.
  • Visu­alization of various transition methods
Reporting
Reporting
  • Wide range of reports including:
    • Contract overview
    • Balance report
    • YTD postings
    • Assets analysis
    • Notes (mandatory IFRS 16 statements for sufficient quantities of data available in the tool; add-on for company-specific notes)
    • Planning data of the contracts can be generated, reports for future dates can be viewed
    • Trans­parency and analysis of contracts
    • Moni­toring of values reported on the balance sheet
Webinars about IFRS 16 and our GlobalLeaseCenter

Go live in 4 days - IFRS 16 with the GlobalLeaseCenter

With the GlobalLeaseCenter you can implement a tested and regularly maintained IFRS 16 leasing tool in record time. The GlobalLeaseCenter is a comfor­table standard solution of AMANA to effectively and efficiently account for leasing matters according to IFRS 16. Within a clear and well-structured process the GlobalLeaseCenter supports the user in data collection. Validations of the input data increase the data quality. Based on the entered contract data, the GlobalLeaseCenter intelligently recognises which IFRS 16 facts are present (new contract, modification; reassessment) and automatically carries out their evaluation. The generation of bookings, dicslosures and reports at company level or group level is one of the standard functio­nalities of our IFRS 16 system. More than just a software solution: our expe­rienced consulting team will accompany and support you both in the project and, if required, in live operation.

Referents: Eva-Maria Kuhlmann and Matthias Sahm

IFRS 16 - Group-wide financial statements without Excel chaos

In addition, we will show you how to deal with topics such as master data (e.g. marginal borrowing rate), notes to the financial statements, contract reclassi­fications and mergers, and currency conversion. Benefit from the Best Practice Project Setup, which has been success­fully tested several times. More than just a software solution: our experienced consulting team will accompany and support you both in the project and, if required, in live operation. Leave the time-consuming Excel behind you...

Referents: Eva-Maria Kuhlmann and Matthias Sahm

IFRS 16 in the GLC - Series for Users and Interested People

IFRS 16 in the GLC: Testing in general and testing with the support of RPA

The testing of new releases is generally an important component of the update process. In addition to the purely practical aspects, there are also formal points that make documented testing useful. On the one hand, documented testing can be part of the Internal Control System and on the other hand, documented testing can be helpful documentation for the auditor. In our webinar we would like to show you how a test program can be put together. It is important for us to show you how this can be done with a minimum of effort per release. In addition, we will show an exemplary test program. According to our experience RPA can reduce the testing effort of the employees, therefore we will show in detail how RPA can be embedded into the test program and visualize this with practical cases. Finally, we will briefly introduce our new Testing Suite.

The GlobalLeaseCenter is a convenient standard solution from AMANA for effectively and efficiently accounting in accordance with IFRS 16. The software product is accompanied by a professional and technically experienced consulting team, in which the knowledge about the product and the processes surrounding the product are bundled and available to you.

Referents: Eva-Maria Kuhlmann and Matthias Sahm

IFRS 16 in the GLC: AMANAIntelligence - Don't work, hard work smart: Review and reconciliation made easy

After we have given an initial overview of the possible applications in the kick-off event on the topic of Business Intelligence (BI), in this webinar, we would like to show how BI can be used to simplify review and coordination processes. In our daily work, we have found that the topic of BI is also exciting for an efficient leasing process and can be an important component, as companies digitize and automate as many processes, information, data as possible - this also often in many different systems. Therefore, it is even more important for almost all areas of a company to be able to clearly display the data (from different systems) as well as analyze and evaluate it. In further webinars on this topic we will present further exciting aspects of this area.

The GlobalLeaseCenter is a convenient standard solution from AMANA for effectively and efficiently accounting in accordance with IFRS 16. The software product is accompanied by a professional and technically experienced consulting team, in which the knowledge about the product and the processes surrounding the product are bundled and available to you.

Referents: Eva-Maria Kuhlmann and Matthias Sahm

Testimonials

Haniel

"When selecting a suitable software solution to meet the require­ments of IFRS 16, we were parti­cularly impressed by the flexible and simple inte­gration of GlobalLeaseCenter into our system land­scape as well as the professional and technical expertise of our contact persons [at AMANA]."
Dr. André Klöcker
Head of Group Accounting and IFRS Policies
CWS-boco International GmbH

Max Automation SE

"With AMANA's GlobalLeaseCenter, the countless variety of types of leasing contracts and the modi­fica­tions they can un­dergo during the term of the contract can be recorded easily and compre­hensibly. At the same time, the valu­ation and the mapping of the con­tracts is always in line with the new standard for leases (IFRS 16)."
Oliver Engh
Head of Group Accounting
Max Automation SE

EFG International AG

"GlobalLeaseCenter was quickly adapted to our specifities, easy to implement and very user-friendly. The "AMANA-team" was very helpful over the project and we benefited from their technical expertise."
Michael Rodel
Head of Finance
EFG International AG

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