IFRS 16

IFRS 16 Lease Accounting Simplified

16Leases simplifies computation of lease accounting for a lessee in compliance with IFRS 16 and other standards based on IFRS 16. 16Leases is a flexible tool to carry out lease computations for varied asset classes, as well as in multiple currencies.

With 16Leases, you can compute your lease liability and the ROU asset value at the lease commencement date, as well as interest expense, depreciation expense and ROU net asset value at the time of reporting period.

IFRS 16

Key Features

For Businesses

Feature Free Premium Enterprise
Number of Leases 3 30 Unlimited
Number of Users 1 1 Unlimited
Lease Type Simple Simple &
Advanced
Simple &
Advanced
Share your lease computation with your colleagues  No No Yes
Share your lease computation with your accountant  Yes Yes Yes
See the leases and its computation of your clients  No  No  No 
Generate Accounting Ledgers  Yes Yes Yes
Customised Payment Schedule No  Yes Yes
Automatically Accrue Interest at the time of reporting period  No Yes Yes
Ability to make and share notes  No Yes Yes
Attach documents such as lease agreements, etc. No Yes Yes
Ability to edit the lease No Yes Yes
Ability to revert back to the previous version of the lease  No Yes Yes
Import leases using Excel  No Yes Yes

For Accountants

Feature Free Premium Enterprise
Number of Leases 3 30 Unlimited
Number of Users 1 1 Unlimited
Lease Type Simple Simple &
Advanced
Simple &
Advanced
Share your lease computation with your colleagues  No No No
Share your lease computation with your accountant  Yes Yes No
See the leases and its computation of your clients  No  No  Yes
Generate Accounting Ledgers  Yes Yes Yes
Customised Payment Schedule No  Yes Yes
Automatically Accrue Interest at the time of reporting period  No Yes Yes
Ability to make and share notes  No Yes Yes
Attach documents such as lease agreements, etc. No Yes Yes
Ability to edit the lease No Yes Yes
Ability to revert back to the previous version of the lease  No Yes Yes
Import leases using Excel  No Yes Yes
IFRS 16 Lease Accounting

About

16Leases is an initiative of Web Masters along with N R Doshi & Partners, Public Accountants.

Web Masters is a software company founded in 1989, providing software implementation such as ERP, CRM, Jewellery solution and retail management solution. Web Masters offers professional advice on top of implementation to bridge IT together with business objectives to maximize ROI and achieve business goals. Web Masters has served 2200+ clients in 23 countries.

N R Doshi and Partners is a business advisory firm established in 1985, offering one-stop solution that covers various service types including: audit and assurance, advisory, company formation, outsourcing, and tax consulting. Not just accounting and finance, N R Doshi covers a wide range of functions such as Human Resources, Information Technology, Operations, and Legal.