IFRS 16 / AASB 16 Managed Service

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

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Quadrent - What is IFRS16

About LOISlite

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)

Find out how Quadrent and LOIS will provide you with the keys to unlocking valuable, actionable insights from within your lease portfolio and help you ease the burden of compliance.

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