RAM’s Lease Accounting Software will help you to:
Keep a complete audit history of all leases and related payments and events
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
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, amortization, and fixed asset register.
Impose Control
- Utilize in-depth lease accounting to understand corporate exposure and assist compliance with ASC 842 and 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 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.
Reporting and Forecasting
- 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 use-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+.