Assetpro now features an optional, fully integrated Lease Accounting module to manage various types of leases and take 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 (AASB 1008). 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
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.