All-in-one IFRS 16 software for streamlining compliance and financial reporting

Discover Rubli’s cloud-based, online IFRS 16 lease accounting tool. Our platform is tailored to help finance managers and accountants with effortless and accurate IFRS 16-compliant financial reporting. 

Engineered to simplify complexities and address the shortcomings of manual spreadsheets in a cost-effective manner, our comprehensive solution caters to all your lease accounting needs, streamlines financial processes and ensures you are audit-ready. 

To find out how businesses can benefit from our IFRS 16 software, book a demo today.

Advantages

Benefits of Rubli IFRS 16 lease accounting tool

Experience the power of our IFRS 16 lease accounting tool. 

Rubli is designed to streamline IFRS 16 lease compliance and financial reporting for finance managers and accountants. Designed for efficient lease data management, streamlined compliance, lease calculations, measurement, analysis, documentation, and reporting- Rubli ensures you have all the tools you need to receive a clean audit and have complete control over your balance sheet.

Book a demo to experience the benefits of our IFRS 16 software and read more about the benefits below. 

Stress-free implementation

Our lease experts will transition you quickly to our platform. This includes a full recon of your opening balances to ensure no surprises at your next reporting cycle.

Flexible modelling

Incorporate a wide range of lease terms, conditions and modifications. The flexibility of our tool facilitates fast decision-making and instant results that your business can trust.

Tried and tested

Our software has been used thousands of times and received a clean audit from all the big audit firms. Detailed reports make it easy for your teams and auditors to reconcile balances and to sign off.

Flexible 1-click reporting

Export your entire IFRS 16 reporting pack at the click of a button, complete with journals, disclosures, recons and budgets. All reports are fully customisable using pivot style reporting or simply use our predefined reports.

Role-based access

Multiple users can be created with various permission levels, based on their role within your organisation. A full audit trail of all changes are stored to provide a detailed record of all changes made to financials.

Specialist, in-house support

Our team focuses on IFRS 16 and we provide you with more than just an accounting tool. Whether you need platform support or have a technical lease accounting query, our experienced support team is ready to assist you.

Tried and tested

Our software has been used thousands of times and received a clean audit from all the big audit firms. Detailed reports make it easy for your teams and auditors to reconcile balances and to sign off.

Flexible 1-click reporting

Export your entire IFRS 16 and ASC 842 reporting pack at the click of a button, complete with journals, disclosures, recons and budgets. All reports are fully customisable using pivot style reporting or simply use our predefined reports.

Rubli’s IFRS 16 lease accounting software is trusted by businesses around the world

Rubli is the go-to solution for businesses seeking accuracy and efficiency in accounting for IFRS 16 leases. Our reliable IFRS 16 software simplifies complex lease accounting tasks and is trusted by businesses across industries in countries including the United Kingdom, European Union, South Africa and Australia.

Book a demo to find out more about IFRS 16 solutions.

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"We like Rubli's reporting functionality, which allows us to slice and dice and filter accounting data as needed. It generates our journal calculations and disclosures instantly."
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"Rubli turned very long and cumbersome processes into very manageable, quick and streamlined tasks. We are incredibly pleased with everything the platform has to offer."
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"The platform’s highly customizable reports empower our financial reporting team with all their reporting needs at the click of a button"
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"The platform’s highly customizable reports empower our financial reporting team with all their reporting needs at the click of a button."

Streamlined lease accounting

Rubli covers the right accounting treatment processes for all IFRS 16 leases

Our platform streamlines the lease accounting process under IFRS 16, from recognition to disclosure. We provide you with an IFRS 16 tool that helps ensure your reporting is efficient, accurate and audit-ready.

With intuitive functionality and customisable features, our user-friendly platform streamlines all aspects of the IFRS 16 lease accounting process.

Recognition

Rubli helps you ensure accurate recognition of leases, allowing you to identify and record right-of-use assets and liabilities in compliance with IFRS 16.

Measurement

Efficiently calculate the present value of lease payments and right-of-use asset values with Rubli’s tools for precise measurement and real time calculations.

Classification

Rubli simplifies lease classification, adeptly handling all leases under IFRS 16 standards, ensuring consistency and clarity in accounting treatment.

Presentation

Enhance financial statement clarity with Rubli’s structured presentation features, aligning lease assets and liabilities for transparent reporting.

Disclosure

Rubli supports comprehensive disclosures, providing detailed insights into leasing activities and commitments as required by IFRS 16.

Start today

Transitioning to Rubli IFRS 16 software

Transition smoothly to Rubli’s IFRS 16 software with our fully manage/guided implementation process, ensuring seamless integration into your financial systems.

Our process normally involves assessing and integrating your existing lease data with our platform, providing a reconciliation of opening balances and initial training to take you through our tool’s capabilities and ongoing support regarding IFRS 16. 

Our resources, including our IFRS 16 training hub, are also valuable for businesses adopting IFRS 16.

To get started, book a demo with our team of specialists today.

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Features

Key features of Rubli IFRS 16 software for businesses

Customisable Reporting

Generate your entire lease reporting pack with our standard reports or create your own with our intuitive drag-and-drop interface to match your exact requirements. Save time by generating IFRS 16 and ASC 842 compliant disclosures and journal entries at the click of a button.

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flexible IFRS 16 financial reporting
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graph modelling interest, depreciation, payments of lease liability and asset IFRS 16
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Flexible modeling with unlimited modifications

Easily capture lease modifications by only editing the terms that changed. Our guided modification process, with support for any payment pattern, ensures that you always remain compliant.

graph modelling interest, depreciation, payments of lease liability and asset IFRS 16

Detailed Audit Trail

Easily verify the accuracy of your lease portfolio with Rubli’s comprehensice audit trail. Quickly see which leases changed and drill down to see the individual fields that were edited.

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Multi-currency reporting

Effective management of global operations with multi-currency reporting for leases, accommodating diverse financial environments.

Easy Excel import templates

Streamline data entry with easy-to-use Excel import templates, simplifying initial setup and ongoing updates.

Full lessee and lessor support

Comprehensive support for both IFRS 16 lessees and lessors, catering to all aspects of lease management and accounting.

Leased asset impairments

Accurately account for and report on leased asset impairments, maintaining compliance and financial integrity.

Sale and leaseback transactions

Follow our intuitive step-by-step guide to manage sale and leaseback transactions, ensuring accurate accounting treatment and reporting.

Approval process

Incorporate a structured approval process to enhance control and oversight over lease accounting processes.

Expiry email reminders

Stay proactive with automated expiry email reminders, ensuring timely action on lease renewals or terminations.

Single sign-on (SSO)

Enhance security and user convenience with Single Sign-On (SSO) capabilities, streamlining access across systems.

IFRS 16 software for lessee and lessor accounting

Our comprehensive IFRS 16 software accommodates the specific accounting needs of both lessors and lessees in lease contracts. Our tool ensures that lease contracts are accurately treated and reflected in financial statements, aligning with IFRS 16 standards. Our support team is also adept at assisting with any platform or technical queries of lessees and lessors associated with IFRS 16.

Book a demo to discover the benefits of our IFRS 16 accounting software for lessors and lessees.

IFRS 16 Lessee accounting

Designed to meet lessee requirements, our platform facilitates IFRS 16 compliance by streamlining the accounting lifecycle from initial recognition to modification and termination. It guarantees detailed recording and disclosure of lease liabilities and right-of-use assets in financial statements. The software efficiently processes leases, including precise calculations for liabilities, interest, and asset depreciation. Additionally, it offers specialised solutions for managing short-term and low-value leases, ensuring efficient accounting treatment.

IFRS 16 Lessor accounting

Rubli’s tool is expertly designed for lessors, streamlining IFRS 16 accounting by simplifying journal entry creation and tracking, ensuring accuracy in financial statements and reports. It facilitates seamless management of lease income recognition, interest accruals, and asset management. Whether handling operating leases to ensure compliance with the IFRS 16 standard or managing finance leases, including dealer lessor leases, Rubli delivers unmatched precision and efficiency.

The challenge

Challenges of manual lease management and accounting

In the complex world of lease accounting, businesses often grapple with overwhelming data volumes, ever-changing regulations, and stringent audit requirements. These challenges combined with inefficient Excel spreadsheets can hinder financial accuracy and operational efficiency, creating a pressing need for a robust, flexible solution.

Here are some of the key challenges our clients experienced before choosing Rubli for seamless IFRS 16 lease accounting. 

Overwhelmed by data complexity and volume

Handling extensive and complex lease data for tens or hundreds of leases often leads to errors and inefficiencies, especially when relying on ineffective spreadsheets or outdated systems.

Streamlining financial processes

The intricate nature of financial processes under IFRS 16 can make streamlining these tasks a daunting and error-prone endeavour.

Combining decentralised lease data

Gathering accurate  lease accounting information from multiple business units is a time-consuming task.

Navigating complex accounting standards

The detailed and intricate requirements of IFRS 16 and ASC 842 standards present a substantial hurdle for many businesses with a large portfolio of tangible assets.

Audit readiness

Ensuring preparedness and success in audits, especially under stringent IFRS 16 requirements, is a key concern for organisations.

Valuation and Reporting

The process of accurately valuing and reporting leases in financial statements is complex, often leading to compliance risks.

Combining decentralised lease data

Gathering accurate  lease accounting information from multiple business units is a time-consuming task.

Navigating complex accounting standards

The detailed and intricate requirements of IFRS 16 and ASC 842 standards present a substantial hurdle for many businesses with a large portfolio of tangible assets.

Ready to transform your IFRS 16 lease accounting system?

Implement effortless lease accounting with Rubli and join the long list of companies that have revolutionised their lease accounting processes with our tool tailored for IFRS 16 leases. Schedule a demo now to find out more.

FAQs

Frequently asked questions about IFRS 16 & ASC 842 lease accounting

Lease accounting software helps businesses manage and report their lease obligations in compliance with financial standards such as IFRS 16. It streamlines or automates the calculation of lease payments, amortisation schedules, and the impact on financial statements.

This software ensures robust compliance and reporting capabilities by enhancing data management and financial accuracy. Book a demo to explore how Rubli’s IFRS 16 & ASC 842 software can transform your lease accounting process.

Lease accounting software is primarily used by finance professionals, including accountants, financial managers, and CFOs, who are responsible for managing and reporting a company’s lease obligations. This software is crucial for organisations with significant leased assets, such as real estate, vehicles, or equipment, ensuring compliance with accounting standards like IFRS 16.

Organisations across various industries, from retail and real estate to healthcare and government, rely on lease accounting software to simplify their financial processes and maintain accurate records. 

Rubli’s lease accounting software for IFRS 16 and ASC 842 offers specialised tools to streamline lease management, making it easier for professionals to achieve transparency and efficiency in financial reporting. Book a demo to learn more.

IFRS 16 software is designed to help companies comply with the International Financial Reporting Standard 16, which governs the accounting of leases. This software enables accurate tracking, calculation, and reporting of lease-related data, turning complex leases into manageable financial reports. It simplifies the recognition of lease assets and liabilities, facilitates the preparation of financial statements, and ensures that organisations adhere to the requirements of IFRS 16.

Rubli’s IFRS 16 software offers a comprehensive suite of tools that cater specifically to the needs of finance professionals managing lease portfolios. With features like automated lease classification, customisable reporting templates, and robust data management capabilities, Rubli ensures that businesses can meet compliance requirements and have a transparent overview of their leasing obligations. Book a demo to find out more.

IFRS 16 is a global financial reporting standard that requires companies to include lease liabilities and assets on their balance sheets, offering a clearer picture of their financial obligations.

Discover how Rubli’s IFRS 16 software can streamline lease accounting and compliance. Book a demo today to enhance transparency and control over your financials.

ASC 842 is a lease accounting standard issued by the Financial Accounting Standards Board (FASB) that requires businesses to recognise lease assets and liabilities on the balance sheet. It aims to enhance transparency by reporting all leases, thereby providing a clearer view of a company’s financial commitments.

Leverage Rubli’s lease accounting software, tailored for ASC 842 to transform your lease reporting processes. Book a demo with Rubli today to ensure accuracy and ease in meeting these new accounting requirements.

To record a lease under IFRS 16, recognise a right-of-use asset and a lease liability on the balance sheet at the lease commencement. The lease liability is calculated based on the present value of future lease payments, while the asset is typically the same amount, adjusted for any initial direct costs.

Streamline your IFRS 16 compliance with Rubli’s lease accounting software. We help you simplify the recording process and ensure accuracy. Schedule a demo today to see how Rubli can help manage your lease obligations efficiently.

Organisations seeking compliance with the IFRS ( International Financial Reporting Standard), specifically  IFRS 16, will find immense value in specialised IFRS 16 software. 

It’s ideal for any business managing lease agreements under these standards, streamlining reporting and compliance processes. 

IFRS 16 software is useful for businesses that lease a significant number of assets, such as those in real estate, transportation, manufacturing, construction, and retail.  

We encourage you to contact us to find out more about Rubli’s IFRS 16 software, and explore related articles that explore the reasons why you need cloud-based IFRS 16 software, considerations for choosing an IFRS 16 tool, and everything you need to know with our guide to IFRS 16 lease accounting software.

An amortisation schedule is a table detailing each periodic payment on a loan (often a mortgage) or lease as it relates to principal and interest. For leases, it specifically shows how lease payments are apportioned between principal reduction and interest expense and the gradual decrease of the lease liability over time.

Rubli’s system automatically generates an amortisation schedule when you input your lease information, simplifying lease calculations and reporting. This ensures accurate tracking of payments, interest, and asset depreciation. Book a demo today to discover how Rubli can streamline your financial processes.

To calculate the amortisation schedule for a lease, determine the present value of future lease payments using the interest rate implicit in the lease. List each payment period, apply the interest rate to the outstanding lease liability, subtract the interest from the total lease payment to reduce the principal, and adjust the liability accordingly.

Simplify your lease amortisation calculations with Rubli’s lease accounting software, which streamlines these processes and ensures accuracy. Book a demo today to see how Rubli can enhance your financial reporting and compliance.