IFRS 16

Progenesis’ IFRS 16 software is a comprehensive lease accounting solution designed to automate compliance with IFRS 16 and AASB 16 standards. It supports both property and non-property leases—such as equipment, fleets, and telecom assets—and is configurable for any industry or business size. The platform ensures accuracy, transparency, and audit readiness through advanced automation and reporting.

Features

• Full IFRS 16/AASB 16 Compliance: Supports all three transition methods with detailed lease treatment transparency.
• Automated Lease Calculations: Daily calculations with four-decimal precision, including lease liability projections and remeasurements.
• Advanced Reporting: Generate reports at lease, group, portfolio, or entity level with export options to Excel and PDF.
• Retail and Property-Specific Tools: Includes 4-4-5 calendar support, rent reviews, options, and outgoings.
• ERP Integration: Seamlessly connects with existing finance systems or functions as a standalone accounting suite.
• Security and Audit Trails: Role-based access and full audit logs ensure data integrity and compliance.

Capabilities

• Manage complex lease portfolios across multiple asset types.
• Automate journal entries and financial disclosures.
• Enable collaboration between finance, property, procurement, and compliance teams.
• Export all calculations for external analysis or spreadsheet use.
• Handle multi-currency and multi-entity environments.

Benefits

• Accuracy: Reduces manual errors with automated, precise calculations.
• Efficiency: Streamlines lease accounting workflows and reduces administrative burden.
• Flexibility: Adapts to any lease structure or organizational setup.
• Audit Confidence: Provides full transparency and traceability for auditors.
• Scalability: Suitable for growing businesses and large enterprises alike.