16 hours of SOFT4Lessee set-up services for lease compliance in accordance with to ASC842 requirements.
3 files are sent by the Service Provider: * The 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.
Service Provider prepares SOFT4Lessee objects for the Customer and helps with the merge, if needed, with the existing Customer’s Business Central (NAV), with setting up user access and with the initial connection to the system.
Service Provider sets up system parameters: Transition option, accounting periods, chart of accounts, asset categories, maturity bands, legal entities, as per Questionnaire the Customer filled in during Analysis Phase. Lease Data Acquisition The Customer compiles the leases in Lease Data Template (excel).
The Customer uploads data to the system. Service Provider provides up to one hour of support, in case the Customer has any questions.
Service Provider sends the Customer the links to user guide videos and provides SOFT4Lessee user manual.
The Customer activates leases and creates G/ L posts on the initial transition to ASC842. Service Provider provides up to two hours of support, in case the Customer has any questions.
Service Provider helps you to reset the test data (only keeping the system set-up and leases), up to one hour of support. The Customer activates leases and creates G/ L posts on the initial transition to ASC842, then continues the regular monthly process.
At the end of the Customer’s first reporting period, the Customer prepares G/ L output (for balance sheet and P&L), Rou Asset report, Liability Report, Maturity Analysis report and closes the accounting period in the system.