SMART IFRS16 Leasing is a solution for automating the management of land, vehicles and property leases. The product allows lessees to perform calculations automatically, minimizing human errors and increasing data accuracy. SMART IFRS16 Leasing contains functions for calculating rights of use, tracking long-term liabilities, converting them into short-term liabilities, and calculating and generating lease payments. The solution also supports payments not only in cash but also in kind, making it a universal tool for various types of leasing transactions. The product fully complies with the requirements of International Financial Reporting Standard 16 “Leases” (IFRS 16), which ensures transparency and accuracy of financial reporting for users in accordance with international accounting standards.

Functional capabilities:

creating a lease object card, registration of rental conditions and a discount factor
automatic calculation of monthly lease payments
calculation of long-term liabilities and rights to use the lease object
conversion of long-term liabilities to short-term ones
accrual of monthly rental expenses and generation of payments
accrual of rent in kind and offset
closing of the settlement period
closing of the lease contract in case of termination/completion of the lease contract
additional accrual/devaluation of rights to use and long-term liabilities in connection with changes to the lease conditions

Benefits:

Integration with Microsoft Dynamics 365 Business Central.
Full automation of financial accounting processes.
Accurate calculation of rental payments.
Compliance with IFRS 16 standards.

Key value:

Integration with Microsoft Dynamics 365 Business Central: The solution is installed in the Business Central environment, allowing for its maximum efficiency in the ERP system, ensuring smooth operation with other business processes and data.
Full automation of processes: The application eliminates the need for manual operations and minimizes errors in lease accounting, which saves time and increases work efficiency.
Accurate calculation of lease payments: SMART IFRS16 Leasing automatically accrues lease payments, which significantly simplifies the calculation process and ensures their accuracy.
Compliance with IFRS 16 standards: The product fully complies with the IFRS 16 requirements, ensuring transparency and correctness of accounting in accordance with international standards.

Supported Editions

This app supports the Essential and Premium editions of Dynamics 365 Business Central.

Supported Countries

All countries where Microsoft Dynamics 365 Business Central is available.

Supported Languages

This app is available in English (United States) and Ukrainian (Ukraine).

SMART IFRS16 Leasing

by SMART business LLC