Innervision – Lease Accounting Software
ASC 842 and IFRS 16 compliance made easy
IRIS Lease Accounting software automates compliance with ASC 842 and other accounting standards, streamlines leasing processes, improves transparency and reporting, and aligns strategies across your whole organization.
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A complete lease accounting software solution
IRIS Lease Accounting software gives you all the tools you need to ensure compliance with the FASB ASC 842 and IFRS 16 standards. From publicly listed companies to non-public entities, thousands of finance professionals around the world trust us to transform their leasing processes, centralize their data and automate lease accounting compliance.
Automate compilance
Through automation, you can get rid of time-consuming, manual spreadsheets and easily comply with the latest lease accounting standards, ASC 842 and IFRS 16, reducing the risk or error and freeing up hours of time.
Transform processes
Your clients will cut the amount of admin, reduce manual tasks, speed up routine jobs and gain total control across the entire lease life cycle.
Centralize data
View your entire lease portfolio in real-time and maintain compliance as your leases change.
Guarantee accuracy
Complex calculations and processes are automated, delivering fast, accurate disclosure and reporting, first time, every time.
Changing the way compliance is managed
We give your clients the tools, features and reporting suite they need to successfully manage ASC 842 and IFRS 16 compliance with confidence – all from one place.
Leasing subledger
IRIS Lease Accounting is a leasing subledger which records all leasing transactions in a transparent fashion, generating the lease accounting outputs for upload into your clients’ ERP or multiple ERP systems – easily and quickly.
Simplified re-measurement
Clients can address both lessee and lessor accounting requirements for both FASB and IFRS standards, across all asset categories.
Amortization and depreciation schedules
Amortization and depreciation schedules are generated at inception of each lease and for each subsequent modification (in-life change) thereafter. Reports and journals tie transparently to the amortization and depreciation schedules.
Multi-calendar support
We provide flexible calendars that support and align with clients’ specific accounting frequencies, ie, standard calendar, retail and manufacturing calendars (5-5-4, 4-4-5, 13-week 4-4-4) or any custom accounting calendar required for your business.
Accurate disclosures and audit trail reporting
We provide a full suite of out-of-the-box accounting and standard reports for disclosures and forecasting for ASC 842 and IFRS 16. Whether it be disclosure reports, portfolio run-off reports for forecasting or detailed audit reports, we have it covered.
Lessee and lessor accounting
Clients can address both lessee and lessor accounting requirements for both FASB and IFRS standards, across all asset categories.
Covid-19 rent concessions
In-built functionality takes care of both the FASB and IASB COVID-19 Rent Concessions amendments for the ASC 842 and IFRS 16 lease accounting standards.
End of lease notifications
Receive notifications when key dates are approaching, leases are due to expire or action is required. Actively manage expiring leases to avoid overpayments and unwanted extensions.
Key benefits of Lease Accounting Software
Fast and simple implementation
Switching to IRIS Lease Accounting is quick, stress-free and simple.
Easy to use
Our lease accounting software is intuitive and user-friendly, taking many tasks out of your hands completely.
Rich functionality
Comprehensive automation, real-time calculations and reporting, giving you everything you need for compliance and improved leasing decisions.
Experience and expertise
Our experienced accountants and leasing experts will support you across the entire compliance process.
At IRIS, we believe there is an easier way for companies to tame the compliance demands of FASB ASB 842 and IFRS 16. Our aim to eliminate these challenges with our intuitive, cloud-based, lease accounting software that powers compliance, specifically designed for SMEs with smaller lease portfolios.
- FASB ASC 842 and IFRS 16 compliance made easy
- Simplified accounting for re-measurement and other in-life lease events e.g., impairments
- Amortization and depreciation schedules
- Journal report
- Accurate disclosures and simplified audit trail reporting
- Lessee accounting
- Scalable up to 30 leases
- Up to 5 users
This solution is designed specifically as a multi-company or CPA solution, scalable to accommodate your organisations dynamic needs. With IRIS Lease Accounting, businesses can easily automate compliance with FASB ASC 842 and IFRS 16 accounting standards, allowing you to navigate the complexities of the lease accounting standards with accuracy and confidence. This solution allows you to account for up to 30 leases per entity/client and supports multiple users.
- FASB ASC 842 and IFRS 16 compliance made easy
- Simplified accounting for re-measurement and other in-life lease events e.g., impairments
- Amortization and depreciation schedules
- Journal report
- Accurate disclosures and simplified audit trail reporting
- Lessee accounting
- Scalable up to 30 leases per entity with a maximum of 480 leases
- Up to 5 centralised / managed service administrators
- Up to 5 read only end users per entity
IRIS Innervision is an international leader in the provision of FASB ASC 842 and IFRS 16 lease accounting software to global corporates. We help medium sized and enterprise-level organisations around the world to automate lease accounting compliance, transform leasing processes and deliver improved efficiencies across the entire lease lifecycle. Our Enterprise solution offers features for more complex lease portfolios with an experienced, dedicated implementation manager to get you up and running quickly.
P.O.A.
- FASB ASC 842 and IFRS 16 compliance made easy
- Leasing subledger
- Simplified accounting for re-measurement and other in-life lease events e.g., impairments
- Amortization and depreciation schedules
- Multi retail-calendar reporting
- Leasing General ledger with customisable chart of accounts
- Accurate disclosures and audit trail reporting
- Lessee and lessor accounting
- Covid-19 rent concessions
- End of lease notifications
IRIS Innervision
“We decided upon IRIS Lease Accounting as our preferred technology partner for transitioning to IFRS 16 as we were seeking a comprehensive end-to-end solution that would support the complexities of our multifaceted lease portfolio.”
Compliance certifications
