Effective from January 2019, virtually all businesses in the leasing ecosystem must have solutions in place to meet the new standards for lease accounting: IFRS 16 and ASC 842 and GASB 87 by the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).
The Hamilton leasing solution is a pre-configured SAP on-premise application that is simple and fast to implement.
Hamilton is a comprehensive solution for lessors and lessees that is designed to shorten the implementation process, create efficiencies, and assure long-term compliance with current and future accounting standards.
Choose Hamilton to for lease administration, lease accounting and compliance, or both. It supports lease contract creation and management and every accounting feature you can think of, from classification, accruals, and payments to business document generation, disclosure, and reporting.
The Hamilton solution is really a framework, powerful enough to automate all your business’s accounting process and flexible enough to keep you in compliance with IFRS 16/ASC 842 and all future lease accounting standards.
A contract is, or contains, a lease if it conveys the right to the control the use of an identified asset for a period of time, in Exchange for consideration.
Full early termination, partial termination, extensions, additional lease assets, consideration changes and sub-lease features are supported.
Integration with procurement and sales process.
IFRS 16 contains both quantitative and qualitative disclosure requirements. This disclosures form a bias for users of financial statements to assess the effect that leases have on the financial statements.
Certain industries are impacted by these regulations more than others. Hamilton is preconfigured to automate revenue accounting and recognition in multiple use cases across industries. Know more, how Hamilton can help your business meet these challenges easily, quickly and cost-effectively.