If your company or your clients have leased equipment, motor vehicles or property, LeaseAccelerator has a solution to meet your needs and budget. Whether you’re in-house at a listed company, or providing outsourced services to private companies, a LeaseAccelerator system helps you give better guidance and advice on the significant cost savings and free cashflow management opportunities, as well as compliance reporting with the AASB 16 standard for listed companies.
For accounting practises and private companies
Even if your clients don't need to comply with AASB16, a LeaseAccelerator system helps manage leased assets much more effectively/efficiently. When you’re handling your audit, LeaseAccelerator removes the complexity and confusion of manually generating accounting journal entries, automating the most complicated and labour-intensive calculations and processes.
Importantly for SMEs and their accountants, our systems also remove key person risk from the close process. Facing month-, quarter- or year-end without a critical resource who knows where all the lease information is and how to handle it is a risky prospect that our automation helps avoid.
Cost savings for companies and clients
Lesses: our system helps you advise your clients on how to make the best use of their current leases, as well as make better procurement decisions in the future, by providing automatic classification and capitalised value/rate computations for every lease, including detailed results of all capital/operating tests. The system will automate and present balance sheet and income statement (P&L) activity by period, with ending balances presented by lease and consolidated, ready to present and discuss with the business decision makers.
Lessors: Does the company you look after lease equipment to others? No problem – our lease accounting engine and subledger is designed to account for every type of lease transaction – lessee and lessor. Practical expedient elections are automatically applied.
Better cashflow management and more informed decisions
By improving lease management, your company can make better use of cash. By improving lease efficiency and presenting lease information as a specific item on the balance sheet, you can help your company streamline their leasing activities and make better informed lease-vs-buy decisions.
For listed companies
Compliance with AASB16 is a headache for small to medium companies. Lease information has to be located, collated and analysed not just once, but every quarter. And as lease information changes throughout the year, changes must be captured and accounted for – even one missed detail can mean non-compliance. Our systems offer a full range of automation minimising manual effort and risk, with a powerful database making the majority of manual workaround redundant and removing the need for multiple Excel spreadsheets for good. The system sends automatic reminders of rent changes, lease expirations and all other user-defined events, and handles month-to-month lease extensions and corrections terminations seamlessly. It tracks contingent rents and variable lease payments separately from minimum lease payments and can record multiple types of contingent rents individually.