Using the world-leading LOIS solution, the Quadrent team will provide all the critical lease information as a managed service to ensure full compliance with IFRS 16 / AASB 16. LOISlite will allow clients access to the proven system via our technical specialists who will produce the outputs required under the new accounting standard.
Run by Experts
LOISlite is the next iteration of LOIS, run by experts, that will allow clients to easily evaluate their entire portfolio of assets and quantify the impact of the new standard. This will enable a simple and efficient ongoing business process.
LOISlite is a cost effective IFRS 16 / AASB 16 solution that negates the need for internal resource and a full system, while still using a proven platform.
Benefits of LOISlite
The system is tried and tested
The LOIS system is used by 150 clients worldwide. We use standard templates and do all the processing for you with standard Excel outputs
You have control
You maintain control over the data inputs. Although the data is uploaded into the system by the LOISlite team, it is updated using a simple standardised template populated by yourself
Help is on hand
LOISlite managed services takes the admin away. By having experts use LOIS with its proven functionality, clients gain the experience of dedicated IFRS 16 accountants
Reports and statements at any time
Accurately illustrates the financial statement requirements for compliance including income statements, cash-flow & balance sheet disclosures. The ability to access data and reports at any time
Your data is secure
The system keeps your data safe and confidential, allows you to extract the data if needed and contains a full audit trail
Modifications are possible
All modifications are catered for, adhering to IFRS 16 / AASB 16 standard requirements. Examples include extensions, terminations, rental changes, impairments and dismantling provisions
Integrates with your month-end process
Monthly journals will include client ERP codes ready to input into your ERP journal format via Excel. GL transactions affecting previously posted periods will be accounted for in the next post period
Manage your overall budget better
LOISlite can be supplied entirely in Excel format with no customer access to LOIS (and hence more cost effective) or with LOIS access restricted to read only (premium only)