IFRS 16 compliant with the GlobalLeaseCenter
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:
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
- 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)
- 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
- 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
- Amortization etc.
- Integration of your IFRS accounts and transaction types
- Standard posting document for import to the ERP system
- Transition postings
- Posting of modifications
- Cost centres, PO numbers etc.
- Visualization of various transition methods
- 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
GlobalLeaseCenter - The IFRS 16 tool from the accounting and tax tool specialist
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. The automated valuation in accordance with IFRS 16, the generation of postings, notes and reports at individual 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 accompanies and supports them both in the project and, if required, in live operation with great passion for the topic and the product.
In our webinar we will give you a brief insight into the basic functionalities of GlobalLeaseCenter. Additional modules, such as import of leasing components (CSV, XML) or contract reclassification (after a merger) are also available and we will be happy to present them to you individually on request.
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AMANAIntelligence - Don't work hard work smart: Possible uses of BI
The topic of business intelligence is gaining more and more importance in companies: Processes, information and data are increasingly being digitized and automated - often in many different systems. Therefore, it is even more important for almost all areas of a company to be able to clearly present the data (from different systems) as well as analyze and evaluate it. In our daily work, we have found that this also applies to the topic of leasing. In a first webinar, we would like to give a general overview of the possible applications of Business Intelligence in connection with leasing. In further follow-up webinars, we will discuss key topics in detail (such as simplifying the review process by supporting BI). The GlobalLeaseCenter is a convenient standard solution from AMANA for effectively and efficiently mapping leasing transactions on the basis of the IFRS 16 accounting standard. 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 for you.
Referents: Eva-Maria Kuhlmann and Matthias Sahm
"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]."
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)."
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."