IFRS 16 as an SAP add-on - Integration at its best
Leasing & Accounting? LISA!
As the new accounting policy on leasing (contracts) was released within IFRS 16, time is running out quickly for corporations to figure out how to report their rented real estate or leased equipment according to IFRS in the future.
IFRS reporters are faced with the new challenge to capitalize many operating leases and record these lease obligations on the balance sheet as right of use assets and leasing liabilities. The companies’ accounting system and contract management have to be adjusted by January 2019 at the very latest to overcome these challenges. To turn this legal challenge into an easy-to-handle IT solution IKOR developed LISA as an SAP-Add-on.
A standard solution suiting your individual requirements
LISA (Leasing according to IFRS 16 Accounting standards) is the only tailor-made solution on the market for this new reporting standard. Designed as a subledger in SAP-FI, LISA combines all services provided by SAP-Standard techniques with an extraordinary flexibility due to its customizable structure.
Watch the video - LISA in 2 minutes
From LISA directly into the General Ledger
This way, the question about how to connect the application to the GL or the ERP-system in general does not even arise in the first place. Posting entries are being executed automatically while the maturity of lease contracts is taken into account by using mechanical processes like the cyclical valuation run, the depreciation run and the payment run. The design of LISA is fully aligned with the technical demands of an SAP infrastructure and meets the functional requirements while securing the audit trail. For its development, IKOR partnered up with the accounting departments of some well-known companies in the sector of financial services. In the form of an add-on the day-to-day work with LISA will be easy to handle for versed SAP-users. Implementation efforts regarding administration, maintenance and user trainings will be low.
LISA – the only SAP-add-on exclusively built for IFRS 16
- Administration of all lease contracts
- Automated posting entries in GL and sub ledgers
- Integration into SAP-FI
- Configurable approval process
- Practice-oriented transaction, simplification rules, options (right of choice)
Senior Vice President
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