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. Delivered by Quadrent.
LOIS can handle all transition methods and exemptions with ease. Run different scenarios so you can model each transition method and assess the impact on key financial statements.
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.
LOIS’s full suite of standard reports provides you with all the tools required to help ensure a successful transition to either IFRS 16 or FASB ASC 842. Track your progress from beginning to end.
The LOIS user dashboard provides you with a consolidated overview of all the active leases within your organisation.
Use this information to:
Upload your lease data with ease, LOIS can manage Property, Fleet and IT equipment. Ensure all your critical lease information is centralised in one place.
LOIS has a simple and intuitive format which allows entry of all types of leases either manually, through a customised Excel template or with full integration into other in-house systems via a bespoke API integration tool.
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.
All in-life lease amendments are catered for, adhering to the IFRS 16 and FASB ASC 842 standards covering all modifications. Make business as usual an easy process with all forms of modifications catered for within the system via an intuitive in system wizard or for bulk updates of multiple leases the use of an in system template. Covers all modifications:
At the commencement of a lease, LOIS generates an asset and amortisation schedule based on the financial information input into the system. With each modification to the lease, a new amortisation and asset schedule is created and stored to allow retrospective reporting based on the schedules in play at that time. These schedules drive the accounting output.
LOIS will also generate the complex calculations and all transition options with ease, whilst providing full general ledger functionality and a comprehensive audit trail.
Journals are created in the system for both IFRS 16 and FASB ASC 842 accounting entries. LOIS also has it’s own generic general ledger codes associated with each event in a lease’s life. These codes can be mapped to the user’s general ledger codes. Journals can be exported to Excel for upload to the general ledger or avail of the GL API to remit the journals to the user’s general ledger in an automated fashion.
Create multiple user accounts with customised access 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.
LOIS enables your business setup to be done quickly and effectively within weeks. All aspects of your customisation can be done and LOIS can provide full lease management without having to change all your existing systems and process.
LOIS is a leading innovation in lease portfolio management. Developed by our experienced leasing partners INNERVISION, it offers numerous functions and reporting tools to help you manage leases and assets from inception to expiration. In addition LOIS will do all aspects of the transition to IFRS16 accounting standards from the collation of data to the forecasting and impact on a business balance sheet.
LOIS is intuitive, simple and effective.
A leading provider of flexible asset funding to businesses
in Australasia for over 15 years.