Nakisa Lease Accounting
IFRS 16 Software for Lease Accounting and Compliance
Choose the best IFRS 16 compliance software on the market! Designed for international businesses, Nakisa centralizes and automates lease accounting operations and ensures precise reporting under the IFRS 16 lease accounting standard. Easily track the right-of-use assets and liabilities, classify operating and finance leases, and automate your lease accounting with Nakisa.
Why implement Nakisa's IFRS 16 lease accounting software solution for international businesses?
Nakisa’s lease accounting solution supports finance teams in maintaining compliance with IFRS 16 standards by centralizing lease data management. It facilitates seamless management of lease terms and administration for both lessor and lessee accounting, including the treatment of low-value assets and primary lease payments. Additionally, our software streamlines the transition from IAS 17 to IFRS 16, ensuring accurate recognition of assets and lease liabilities separately on the balance sheet. With tailored functionalities for managing leases of equipment and real estate, Nakisa empowers organizations to optimize lease management processes and ensure compliance throughout.
How can we support your IFRS 16 compliance initiatives?
Nakisa Lease Administration software is used by organizations worldwide to support compliance with lease accounting standards. With key features and functionalities to support the unique lease accounting requirements for global companies, Nakisa’s IFRS 16 accounting software helps to:
- Consolidate lease contracts
- Leverage master data from existing systems
- Track and record ROU assets and liabilities
- Facilitate accounting and financial reporting
IFRS 16 compliance and accounting software with all functionalities in an intuitive interface
Nakisa Lease Administration software offers comprehensive lease management capabilities that cover the entire lease lifecycle, from the initial contract inception to the eventual termination. With our reporting functionality, you can easily generate pre-configured disclosure reports that can be used to build your financial statements. Our finance platform is built to handle the accounting needs of both lessees and lessors, as well as real estate management.
Streamline compliance
and optimize business processes
Implementing robust lease accounting software empowers businesses to navigate the complexities of standards like IFRS 16, ASC 842, and GASB 87. Additionally, it automates lease accounting processes, streamlines collaboration, and eliminates manual tasks and errors. By adhering to best practices in financial reporting and lease management, businesses can achieve greater efficiency and accuracy in their operations.
Accounting and compliance functionalities that you need available in an
intuitive easy-to-use interface
Transition to IFRS 16 and ASC 842 lease accounting standards
Required by the International Accounting Standards Board (IASB), these standards demand a comprehensive software solution that not only manages the entire lease lifecycle from initiation to termination but also ensures compliance with the latest international financial reporting standards. Such software simplifies the complex lease accounting processes, facilitating the accurate calculation of lease liabilities and right-of-use (ROU) assets, while also accommodating the nuances of finance leases and operating leases. Early users of the International Accounting Standards Board (IASB) IFRS 16 standard would attest that lease compliance to new leasing standards might be difficult if your strategy isn’t well thought out. Even for an established business, incorporating leases into the general ledger involves more than just corporate finance teams’ simple commitment because leases have historically been outside the balance sheet. Nakisa’s IFRS 16 accounting software is your ideal partner in this situation as it has combined the best corporate accounting and technology know-how into a single solution.
Grow with confidence: IFRS 16 lease accounting software designed for large portfolios of property, equipment, fleet, and land assets
Nakisa Lease Administration provides advanced features for both lessees and lessors, specifically designed to handle complex scenarios involving thousands of lease contracts with numerous monthly modifications, and a variety of terms and conditions, currencies, languages, and irregular calendars. Unlike legacy software, Nakisa Lease Administration is built on a scalable infrastructure, which enables faster growth and long-term scalability. Take advantage of Nakisa’s round-the-clock support, online training, center of excellence, and dedicated account managers to maximize your benefits. With Nakisa, you can achieve more in less time.
More than a fiscal year-end reporting tool, an everyday lease accounting platform
Nakisa’s lease accounting software is not a one-time use reporting tool for preparing disclosure notes. It is a comprehensive finance platform that assists you in managing lease contracts throughout their entire lifecycle. One-time fees, casualty events, unit replacements, and early terminations will be recorded as they occur. Our solution also includes lessor accounting and real estate management components, with ongoing development to expand its capabilities even further.
Dual reporting of US GAAP and IFRS 16 using a single tool with ease
As a global company, it is necessary to comply with both ASC 842 and IFRS 16, but there’s no need to have separate solutions. With Nakisa’s lease accounting software, you can manage all your leases under both standards simultaneously on one unified platform. Our solution accommodates each standard’s unique requirements and allows you to generate disclosure reports accordingly.
Rapid deployment to start reporting on leases sooner
What our clients say about Nakisa
With the number of lease contracts we have, we needed a scalable solution that could be operational before our IFRS 16 compliance deadlines. After an extensive vendor selection process, we identified that Nakisa is the best solution to support our compliance initiatives.
As we report in both US GAAP and IFRS, we have to put together full disclosures on a quarterly basis under each reporting standard and all the out-of-the-box disclosure reports [of the NLA software] in essence fit those needs.
Nakisa is an intuitive application that handles all types of leases. We also found it to be the only solution that comprehensively operates in multiple currencies, which is ideal for our global business requirements.
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