IFRS 16 Solution

ShareControl Contract & IFRS 16 solution is the software for manage your leases. You collect and organize your lease contracts and perform calculations in accordance with IFRS 16.

Manage all your companies leases and contracts in one system, follow up and have full control over changes and renewals.

The solution uses a guided  quality registration feature that checks the necessary data before it will be stored in SharePoint. The data for the lease is then uploaded in calculation templates. The calculation basis and metadata can be locked after completion for later auditing. Documents and other relevant information can be stored together with key data for the actual contract. Share the solution with the auditor and get an effective audit of the company’s ongoing IFRS obligations.

Our IFRS 16 solution gives full control over new leases and for ongoing changes. The solution utilizes SharePoint metadata to record key information in the lease agreements to be uploaded in the Excel calculations templates in the solution. Documents and metadata can be locked after completed. Accounting memos on specific contracts are stored together with key data and the actual contract. Share with your auditor and start an efficient process to implement IFRS 16.

 

We provide an IFRS 16 Solution that:

  • Provides control and predictability
  • Provides efficient treatment of leases and contracts
  • Simplifies the follow-up of the company’s key figures
  • Shows overview of changes, reconciliation and notes to financial statements
  • Based on the Microsoft Office 365 platform
    • Not “stand-alone” solution – but can utility all products in the Microsoft family
    • Power BI Interface
    • Security, use, privacy, storage, access management provided by Microsoft
    • All data and documents are stored in their Office 365 and nothing by us
    • No GDPR issues with our service
    • Leverages on all Microsoft ongoing development on SharePoint, Power BI, Office 365, etc.
  • Easy to install and customize, so you get up and running quickly
  • User-friendly and transparent solution with guidance throughout the process
  • Efficiently import and quality controls of contract data at the implementation of the system
  • Reputable IFRS 16 module
  • Offered along with strong expertise from the ShareControl team
  • Is easy to integrate with accounting and consolidation solutions
  • Delivered as a service with flexible binding time 1 + 1 year, and with 1 month termination
  • Have extensive user references

The solution is installed on your Office 365 platform and customizations are easy to do. We assist in importing contract data for you with a following quality assurance. That way, you get started quickly. Follow-up and management of other types of contracts can also be done in the solution. We also supply an extension with interfaces for integration with the customer’s accounting and/or consolidation system that can be adapted to each individual customer.

The IFRS 16 solution utilize SharePoint in Office 365 and highlights useful features such as document previews, version history, advanced search, and sharing with external users. The solution is also available as a SharePoint app on your mobile phone or tablet.

 

Choose between the Standard and Pro solution:

ShareControl IFRS 16 Standard

Contains as described above and now with the news as functionality:

  • Contracts terminated through a modification where gains and losses in certain cases should be accounted at an earlier point in time than when rental payments are stopped.
  • Enables index adjustments at an earlier point in time than change payment of the index adjusted lease. For example, that present value of index regulation that is payable in January 2020 and where the effect on the right of use asset and lease liability is preferred to be disclosed in December 2019
  • New contracts now appear as drafts before they are concluded and decided to be published (and will be included in the change log).
  • Acquisitions (IFRS 3) where you now can enter the time of acquisition for individual contracts where the right of use and lease liability are accounted at this time regardless of the contract’s start date
  • The user manual is available directly in the solution

ShareControl IFRS 16 Pro

Content in Pro in addition to IFRS 16 Standard:

  • Bulk update functionality for index adjustments that simplify the work
  • Power BI Solution with Dashboard for analytics, reports, and simpler approach to contracts, metadata and costing
  • Budget and Forecast module/functionality

Other additions that can be delivered with our solution:

  • Integration interface to customer’s accounting and consolidation system (customizable for each customer)
  • Car lease solution that makes it easier to manage access and termination of leases. This is highly efficient for companies with many rental agencies from leasing companies such as Autolease, Leaseplan, SB1 finance, etc.

 

Contact us for more information and presentation of our IFRS 16 solution.

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ShareControl IFRS 16 for Office 365:

  • System for IFRS 16 calculations and access to leases and relevant documentation
  • The solution also calculates IFRS 16 obligations for agreements for financial lease
  • Solution for follow-up of all types of contracts, get total contract and contract administration in one place
  • Alerts time for index adjustments, exercise of options, termination and renewals
  • Integration with your ERP and consolidation systems
  • Layout showing changes in a period, reconciliations and note information
  • Many search and filter options
  • Budget module and Power BI solution for analysis and easy access to contracts
  • Ability to add your own internal policies and links to websites you use frequently
  • Knowledgebase with eIFRS links