Automate Your IFRS 16 Month-End Close
Every month your team manually updates spreadsheets, recalculates interest on each lease, extracts disclosure numbers by hand, and hopes no one made a data entry error. There is a better way. Input your lease once. The engine generates the complete schedule for the entire lease term — amortization, depreciation, journal entries, and disclosures — and exports everything to a formatted workpaper in one click.
Instant Amortization Schedules
Input your lease parameters once and receive a complete amortization schedule for the entire lease term. Every period shows the date in DD-MMM-YYYY format, opening balance, interest expense at the effective rate, lease payment, and closing balance. Monthly leases over five years produce 60 rows. Annual leases produce a clean 5-row table. The final period is automatically corrected to close to exactly zero — no floating point residuals that need manual adjustment.
- Complete schedule generated for the full lease term at once
- Monthly, quarterly, or annual frequency with exact calendar dates
- Final period hardcoded to zero regardless of floating point drift
Month-End Journal Entries
Every debit and credit needed for your monthly close is generated automatically, dated, and narrated. The journal entry view organizes entries chronologically from commencement through termination. For each period you receive the interest accrual entry and the lease payment entry separately. Depreciation entries are included with the correct amount per period. Copy the entries directly into your ERP or accounting system.
- Interest accrual: Dr Interest Expense / Cr Lease Liability per period
- Payment: Dr Lease Liability / Cr Cash per period
- Depreciation: Dr Depreciation Expense / Cr Accumulated Depreciation
Mid-Term Modifications Without Rebuilding
When a lease is renegotiated mid-term — a new payment amount, an extended term, a rate change — a spreadsheet model typically needs to be rebuilt from scratch. The engine handles all six IFRS 16 modification types without requiring you to restart. Enter the modification date and new parameters. The engine calculates the balance at the modification date, applies the correct IFRS 16 treatment, generates the modification journal entries, and produces the post-modification schedule automatically.
- Six modification types including CPI, floating rate, and term changes
- Balance at modification date calculated from original schedule automatically
- Modification journal entries and new post-modification schedule generated
Disclosure Package for Financial Statements
Producing the lease-related notes for financial statements is time-consuming when done manually. The engine reads from the underlying schedule and generates the complete IFRS 16 quantitative disclosure package. Set your reporting date and receive the SOFP extract with correctly split current and non-current liability amounts, the SOCI figures for the reporting period, and the maturity analysis formatted to IFRS 16 requirements — all ready to copy into the notes.
- SOFP: lease liability correctly split into current and non-current portions
- SOCI: interest expense and depreciation for the reporting period
- Maturity analysis: undiscounted payments in three time bands
Audit-Ready Excel Workpaper
The Excel export is structured to satisfy auditors without requiring additional formatting. The workbook contains separate worksheets for every output: lease liability schedule, ROU asset schedule, journal entries register, modification summary, and disclosure extracts. All monetary values are formatted in accounting number format with comma separators. Column widths are set automatically so no cell content is cut off.
- Structured workbook with one worksheet per output type
- True accounting format: #,##0.00 not text strings
- Auto-fitted columns: no truncation, no ### Excel errors
Advanced Day-1 Parameters
Real-world leases are more complex than the textbook model. The engine handles all components that affect the initial ROU asset cost: initial direct costs incurred to obtain the lease, lease incentives received from the lessor that reduce the cost, and the present value of any estimated dismantling or restoration obligations under IAS 37. Each component generates its own Day 1 journal entry.
- IDC: capitalized to ROU asset with separate journal entry on Day 1
- Lease incentives: reduce ROU asset cost, Dr Cash / Cr ROU Asset
- Dismantling provision: Dr ROU Asset / Cr Provision for Restoration (IAS 37)
Close faster. Report with confidence.
One tool for all your IFRS 16 calculation and reporting needs. Free. No installation.
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