80 hours of SOFT4Lessee set-up services for lease compliance in accordance with to ASC842 requirements.
3 files are sent by the Service Provider: * ASC842 Questionnaire. * Lease Data Template (excel form for initial data upload) * ASC842 chart of accounts. Then Parties have a one-hour conference call to explain the Lease Data Template and Chart of Accounts.
The Supplier prepares SOFT4Lessee SaaS tenant for the Customer, sets up user access and assists the Customer with the initial connection to the system.
The Supplier sets system parameters up: • Transition option, accounting periods, chart of accounts, asset categories, maturity bands, legal entities, as per Questionnaire the Customer filled in on Analysis Phase. • Dimensions, currencies, A/ P reconciliation process, IAS17 parallel accounting (if needed).
The Customer compiles the leases in Lease Data Template (excel).
The Customer uploads data to the system and resolves data issues, if any. The Supplier facilitates the data upload and validation, provides help on resolving any issues.
The Supplier sends the Customer the links to user guide videos and provides Soft4Lessee user manual. The Supplier provides on-line user training.
The Customer activates leases and creates G/ L posts on initial transition to ASC842. The Customer runs amortization for several months (future-dated), several leases up to expiration, does lease modifications, takes G/ L output and validates the balances and net changes.
The Supplier prepares Production environment. The Customer activates leases and creates G/ L posts on initial transition to ASC842, then continues regular monthly process.