Lease Accounting

Innervision – Lease Accounting Software

ASC 842 and IFRS 16 compliance made easy

IRIS Lease Accounting automates compliance with the latest lease accounting standards, streamlines leasing processes, improves transparency and reporting, and aligns strategies across your whole organization.

A complete lease accounting software solution

IRIS Lease Accounting gives you all the tools you need to ensure compliance with the FASB ASC 842 and IFRS 16 standards. From publicly listed companies to non-public entities, thousands of finance professionals around the world trust us to transform their leasing processes, centralize their data and automate lease accounting compliance.

Automate compilance

Through automation, clients can get rid of time-consuming, manual spreadsheets and easily comply with the latest lease accounting standards, ASC 842 and IFRS 16, reducing the risk or error and freeing up hours of time.

Transform processes

Your clients will cut the amount of admin, reduce manual tasks, speed up routine jobs and gain total control across the entire lease life cycle.

Centralize data

View your entire lease portfolio in real-time and maintain compliance as your leases change.

Guarantee accuracy

Complex calculations and processes are automated, delivering fast, accurate disclosure and reporting, first time, every time.

Changing the way compliance is managed

We give your clients the tools, features and reporting suite they need to successfully manage ASC 842 and IFRS 16 compliance with confidence – all from one place.

Leasing subledger

IRIS Lease Accounting is a leasing subledger which records all leasing transactions in a transparent fashion, generating the lease accounting outputs for upload into your clients’ ERP or multiple ERP systems – easily and quickly.

Simplified re-measurement

Clients can address both lessee and lessor accounting requirements for both FASB and IFRS standards, across all asset categories.

Amortization and depreciation schedules

New in-built functionality takes care of both the FASB and IASB COVID-19 Rent Concessions amendments for the ASC 842 and IFRS 16 lease accounting standards.

Multi-calendar support

We provide flexible calendars that support and align with clients’ specific accounting frequencies, ie, standard calendar, retail and manufacturing calendars (5-5-4, 4-4-5, 13-week 4-4-4) or any custom accounting calendar required for your business.

Accurate disclosures and audit trail reporting

We provide a full suite of out-of-the-box accounting and standard reports for disclosures and forecasting for ASC 842 and IFRS 16. Whether it be disclosure reports, portfolio run-off reports for forecasting or detailed audit reports, we have it covered.

Lessee and lessor accounting

With any changes, the system calculates adjustments to the right-of-use asset and lease liability and produces general ledger postings to reflect those adjustments.

Covid-19 rent concessions

At lease inception, the system creates a right of use (ROU) asset and amortization schedule displaying how the lease asset is depreciated and liability amortized over time. With each in-life change or modification, a new ROU asset schedule and liability amortization is created.

End of lease notifications

Receive notifications when key dates are approaching, leases are due to expire or action is required. Actively manage expiring leases to avoid overpayments and unwanted extensions.

Key benefits

Fast and simple implementation

Switching to IRIS Lease Accounting is quick, stress-free and simple.

Easy to use

Our lease accounting software is intuitive and user-friendly, taking many tasks out of your hands completely.

Rich functionality

Comprehensive automation, real-time calculations and reporting, giving you everything you need for compliance and improved leasing decisions.

Experience and expertise

Our experienced accountants and leasing experts will support you across the entire compliance process.

Don’t just take our word for it

We’re passionate about our customers’ success.

“We decided upon IRIS Lease Accounting as our preferred technology partner for transitioning to IFRS 16 as we were seeking a comprehensive end-to-end solution that would support the complexities of our multifaceted lease portfolio.”

National Express

“Today more than ever in business, I have an expectation that a service provider like IRIS Innervision will bring value-add to any organization over and above the high standard of processing and reporting, particularly when it relates to leasing, which can be such a minefield for those not in that sector. IRIS Innervision does all of this and more for us in Capgemini, which is why we value our relationship.”

Tony Deans Capgemini

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