LOIS  – Quadrent’s IFRS 16 Accounting Software

All your leases in one place. IFRS 16 done. 

LOIS provides you with a consolidated view of all leases within your business structure and full IFRS 16 compliance whether it be one entity or a global corporate.

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"With Quadrent’s core leasing knowledge and the LOIS team's specialist accounting backgrounds we are able to leverage the functionality of the LOIS lease accounting platform in order to quickly deliver a full service solution for the IFRS 16 changes throughout the transition and in the future"

NRMA – Senior Accountant

LOIS is currently managing $26b worth of assets for 50+ clients, all of which are IFRS 16 compliant.

Why use LOIS from Quadrent?

 

  • With LOIS, you control the lease data process from contract to system output of compliance reports. You have the ability to load your own data and conduct scenario analysis inhouse using the Excel upload template configured to your master data requirements.
  • Simple, intuitive and easy to use.
  • Functionality is built to be used with other systems and allows speed of implementation from both ease of upload and download with Excel/API.
  • All modifications and journals have fully automated calcs and processing – Month end integrates with your ERP.
  • All core accounting functionality is active and live (including modifications). No waiting on development/consultants for core functions.
  • LOIS has a large number of clients that have been live for some time so we have dealt with real-world scenarios and have real leasing experience.
  • Project control is passed to client. Highly configurable, but very standardised templated approach which results in an extremely fast implementation pathway with minimal resource.
  • LOIS onboarding is run by leasing accountants. This is not a software implementation but an accounting/lease compliance project. In addition, you gain a Lease portfolio and asset management tool that can replace or sit alongside existing systems.

LOIS – Features & Benefits

IFRS 16 Done

Complete IFRS 16 functionality including forecasting, modification & journals.

All your leases in one place

Consolidated portfolio view of all leases via a simple intuitive interface, with drill down functionality.

Customisable

LOIS records leased asset data in as much detail as you need. Use custom fields to save information such as millage limits for vehicles, square metres for buildings, serial numbers for IT equipment or usage hours for forklifts.

Forecast different scenarios

Run multiple lease accounting reports for numerous accounting standards (IAS 17, IFRS 16 and FASB ASC 842). Instantly see how your critical performance metrics change under each standard.

Easy integration

Operate as stand-alone system or integrated into a number of ERP’s through a library of API’s and Excel connections, allowing you to import and export with ease.

Full data integrity

Amortisation and depreciation schedules are generated at both the commencement of the lease and with subsequent modifications. Full audit trails of all journals which are fully automated.

 Account for change

All modifications are catered for including: Full extensions; part terminations; consideration changes; Indexation price changes;  and rental corrections and impairments.

Control access

Create multiple user accounts with customised access and security levels so you can work with the real- time data you need. LOIS is designed for everyone in your organisation who is involved with leasing.

Request a Live Demo

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

We also provide a Managed Service offering of LOIS for organisations with sub 100 leases who are looking for a hassle-free, efficient solution.

Find out more about LOISlite here

Ready to start a conversation?

Contact us - Quadrent

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