Assetpro features an optional, fully integrated Lease Accounting module to manage various types of leases, including support for AASB16, and takes care of the relevant accounting and reporting requirements.

The Leasing module produces the information required for financial statement reporting in accordance with current Australian Accounting standards (AASB16). In addition, the necessary journal entries are prepared for you enabling correct recording of lease accounting entries for the acquisition and termination of leased assets and the apportionment of lease rentals between capital reduction, interest expense and executory costs.

Supported Lease Types

AASB16 Leases / Right of Use Assets

Finance leases

Cancellable operating leases

Non-cancellable operating leases

Hire purchase contracts

Chattel Mortgages

Lease records are directly linked to matching asset details so that duplication of data does not occur. All the standard Assetpro category and reporting level information is available for use within the Leasing module. Leased assets are depreciated as per usual within the asset register whilst the lease accounting is handled by the Leasing module.

Main Features

Full support for AASB16

Payments prior to commencement

Purchase Options

Penalties for early termination

Lease Incentives

Initial Direct Costs

Restoration Costs

Conversion of AASB117 leases to AASB16

Multiple lease types

Unlimited lease rental streams

Varying rental periods (Monthly, quarterly, half-yearly, yearly and odd rental dates)

Automatic calculation of implicit interest rates

Early terminations and pay-outs

Chart of accounts maintenance for journal entries

Automatic setting of depreciation rates to amortise leases over the lease term (if required)

A variety of standard reports suitable for financial statement disclosures, journal entries, cash flow reporting and managing leases generally

Powerful report filters to allow selective reporting of different lease types, finance companies, lease start and end dates as well as departments, cost centres etc.

Independent report dates enabling reporting at any date independent of the main asset register's financial periods