Comprehensive solution for managing lease contracts and related payments
Frame Lease Management is a web-based application designed for managing lease contracts and related payments. The IFRS 16 add-on enables you to handle the requirements of the IFRS 16 standard and provides the needed figures and notes for financial reporting.
Frame Lease Management provides
Contract information in a centralized system
Lease contracts electronically modeled as well as the original contracts as pdf attachments
More efficient contract management and increased transparency
Mass update features for executing index increases and alarm functionality enhance management of contracts
SEPA-material creation and bookkeeping transfer
Possibility to create SEPA-material for lease contract payments and the related bookkeeping transfer files
Figures and notes for financial reporting according to the IFRS 16 standard
Data for balance sheet, income statement and cash flow statement
IFRS 16 add-on supports financial reporting
Frame Lease Management IFRS 16 add-on supports financial reporting on two levels:
Reporting level includes generating figures according to the IFRS 16 standard and transferring the data to accounting or consolidation system, as well as forming the notes required by the standard.
Contract level consists of additional data fields to add IFRS 16 specific information to lease contracts to enable correct calculation of right-of-use assets and lease liabilities.
Examples of these are:
- Extension, termination and purchase options
- Actual or estimated end date of lease contract
- Guaranteed residual value
- Make-good provision and related discount rate
- Discount rate
- Managing sale and leaseback agreements
IFRS 16 add-on calculates lease liabilities and the related payments and interest expenses, as well as right-of-use assets and the related amortizations.
Software handles all common changes to contracts, such as changes in duration, scope and price, as well as the effects of these changes on the above-mentioned items. Additionally, the software calculates the impact of the changes on the income statement.
- Comprehensive reporting provides notes for balance sheet, income statement and cash flow statement that are required for the annual report
- Software calculates lease liabilities as well as low-value and short-term contracts’ impact on income and cash flow statements
- The software also provides contra entries when needed, should some of the group companies follow some other accounting standard than IFRS
- It is possible to filter figures by commodity type, cost center, legal company or some other customer specific grouping factor
Are you planning to purchase a contract management system? Our experts can assist you in your procurement process
SPECIFICATION PROJECT ENABLES US TO UNDERSTAND WHAT YOU NEED
Before the actual implementation project for Fatman Frame, a separate specification project where the needs and processes of the client are clearly defined is always required. Specification project does not force you to purchase our application and you are free to use the results of the specification project e.g. to develop your operations or in the procurement of an alternative system.
Specification project is our way to make sure that the implementation project is done smoothly and always within the agreed schedule.
PLEASE LEAVE A CONTACT REQUEST OR CONTACT OUR SALES DIRECTLY SALES@FATMAN.FI
Currently, more than 40 companies listed on the Helsinki Stock Exchange (Nasdaq Helsinki) use Frame Contract Management software to maintain leasing agreements and generate reporting in accordance with the IFRS 16 standard.