Columbus IFRS16 for Lessee
by UAB Columbus Lietuva
Solution helps the lessees to support and ensure lease agreements accounting according to IFRS16.
Ensure compliance with IFRS 16 efficiently
department of your business could face the challenge that ensuring compliance
with IFRS 16 standard could be a very time-consuming process:
hundreds or thousands lease agreements data on spreadsheets;
assets and liabilities for each of the leases manually to the General Ledger;
and reflect the effect of the changes/amendments in the agreements;
prepare financial statements in accordance with IFRS 16.
All these processes related to lease accounting could be managed in this easy to use solution that helps the lessees to reduce finance/accounting department workforce time spent on administrative work to ensure compliance with IFRS 16.
Solution includes important features and enhancements, that are required by lessees in order to support lease agreement accounting according to IFRS, starting with its signing, schedule calculation, amendments process and up to its natural ending or termination.
Smoothly integrated with other "native" application modules
Management / General Ledger
Key features & functionality
Lease Contract Data Storing and Schedule Calculation:
- Define individual lease conditions per contract.
- Calculate separate schedules and present value for each RoU asset.
- Payment split into principal and interests’ parts.
- Supported payment periods: monthly, quarterly, half year, annual.
- Contract workflow management.
assets management using standard Fixed Assets functionality with its features
and reporting possibilities.
Fixed Assets cards creation and schedule calculation in case of agreements with multiple items of lease property.
- RoU depreciation calculation.
conditions (payment amount, lease period and etc.) update at any moment of lease period.
- Changes history tracking.
schedule ending and RoU disposal when zero balance for lease liabilities is
termination (early buy-out or termination) management.
liabilities and RoU acquisition cost posting on contract activation to General
Ledger and Fixed Asset module.
- Automated lease liabilities reduction posting based on lease schedule.
calculation of contract amendment effect (gain/loss) and posting to General
Ledger and Fixed Assets module.
- Premature termination effect calculation and posing it to General Ledger and Fixed Assets module.
Supported Editions: The app supports the Essentials and Premium Editions of Microsoft Dynamics 365 Business Central.
Supported Countries: Australia, Austria, Belgium, Brazil, Canada, Colombia, Croatia, Denmark, Estonia, Finland, France, Germany, Hong Kong SAR, Hungary, Iceland, Indonesia, Ireland, Italy, Japan, Korea, Latvia, Lithuania, Malaysia, Mexico, Netherlands, New Zealand, Norway, Peru, Philippines, Poland, Serbia, Singapore, Slovenia, South Africa, Spain, Sweden, Switzerland, Taiwan, Thailand, United Arab Emirates, United Kingdom, United States, Vietnam.
Supported Languages: This app is available in English .
Click the Contact me button and learn more about Columbus IFRS16 for Lessee .