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).

Whether you’re a lessor or a lessee, your company will be impacted by the changes.

As a lessor, the practice of classifying leases will remain similar - finance lease or operating lease - but the revenue recognition guidelines are changing.

As a lessee, your leases will become on-balance sheet liabilities, changing the way your company’s assets and debt appear in your accounting books. Among other areas of impact, the pattern of recognizing expenses will also change.

Wider areas of business impact are certain, especially in key reporting metrics for companies with large lease portfolios. You can use this time as a perfect opportunity to make improvements to your end-to-end lease administration and management processes.

the solution

The Hamilton leasing solution is a pre-configured SAP on-premise application that is simple and fast to implement.

invest wisely

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.

robust capabilities

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.

now and forever

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.

supported features

Lease Modeling & Inception

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.

Lease modifications & Termination

Full early termination, partial termination, extensions, additional lease assets, consideration changes and sub-lease features are supported.

Vendor & Customer Settlements

Integration with procurement and sales process.

Disclosures & Reporting

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.

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