Quadrent is the only equipment financier in Australasia helping customers with IFRS 16 accounting compliance and offering an industry leading lease accounting software solution. This is LOIS – Lease Optimisation Information System.
As the exclusive distributor and implementor across APAC, Quadrent is uniquely positioned to support our clients in managing the transition to IFRS 16 / AASB 16 compliance across the 2019 transition period.
Our team consists of accountants and leasing experts rather than software engineers and we are here to help and guide you through the transition.
LOIS will provide a proven fully automated IFRS 16 lease accounting system with a robust, simple and effective process. Combining this with expert lessor advice and IFRS 16 compliance, we can provide very real return on investment.
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”As a highly complex business, Boral uses LOIS’ feature-rich functionality to enable simple yet effective management of property, fleet and equipment leases while still maintaining a full and complete GL functionality with minimal disruption to current business process.
Boral Project Manager
We also provide a Managed Service offering of LOIS for organisations with sub 100 leases who are looking for a hassle-free, efficient solution.
Features & Benefits
As environments change – international accounting practices adjust and the tax treatment of assets evolve. The world of finance, leasing and accounting becomes more complex and multifaceted.
Likewise, Quadrent’s holistic finance solutions to funding, reporting, managing and accounting for our clients’ also develop, so that change is always made simple, easy and manageable.
LOIS has existed as a lease portfolio and asset management tool for over eight years and has been used by a range of clients but with the changes to the lease accounting standards, LOIS was further developed. This development enhanced the existing functionality by supplying a full accounting wrap to give complete ERP level ledger functionality to comply with IFRS 16 / AASB 16.
Features & Benefits
LOIS provides clients with a consolidated portfolio view of all leases within the business structure and full IFRS 16 compliance whether it be a single currency Australian domiciled entity or a multicurrency global player with disparate systems and decentralised reporting. The solution is capable of functioning as a stand-alone system or integrated in to a number of ERP’s through a library of API’s and Excel connections.
LOIS offers numerous functions and reporting tools to manage leases and the associated assets from inception to expiration. In addition, LOIS will handle all aspects of the transition to IFRS 16 accounting standards. By loading lease information into LOIS, clients are able to easily evaluate their entire portfolio and identify what leases are impacted by the new standard.
Lease & asset management, plus full IFRS 16 / AASB 16 compliance
This is your summarised view of all your lease data
Get key messages and reports straight to your inbox
All IFRS 16 reports provided make use of the many other standard reports available. All reports are in excel format for ease of use.
You can filter your Dashboard by Lessee, Lessor, Lease Type, Currency
Easily identify your leases due to expire
Easily identify the average IRR / IBR rate assigned to leases (finance leases only)
Full Right of Use Asset and Liability disclosures
Using LOIS to make data driven decisions
LOIS provides a solution beyond just IFRS 16 compliance. It is a full asset management tool allowing clients to report, manage and account for their assets.
Once clients have completed the transition to IFRS 16 compliance using LOIS, Quadrent can then work with clients to develop insights generated from the data within the system to maximise and improve their lease portfolios.
This will ensure that clients have the most suitable leasing arrangements for their business, are able to negotiate better rates and save money.
Specialist dashboards using common Microsoft tools to show critical information
Review of leasing rates and benchmarking against similar assets and leases
Competitive requoting of leases especially those with high obsolescence
Suggested structuring to achieve business outcomes including balance sheet treatment, cashflow improvement and effective cost of funds
Return on Investment review of key leases
Technical accounting review in relation to complex lease structures
Commercial review of funding sources and lessor profiling
Review of business objectives in regards to expense profiles and on/off balance sheet models
Would you like more information about IFRS 16/ AASB 16? Reach out
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