Hello, Does anyone use the Lease accounting feature for IFRS 16? I have some issues there that I would be glad to discuss with someone.

Yes tell me

@Marc There are a few things. 1. Is it possible to make automatic Index adjustments annually?...or at least semi-automatically? I have not seen anything about it. 2. The lease payments are not automatically posted to debit the lease liability and credit a rent reversal account in the income statement. 3. The lease liability is posted to one account only, not Short-Term and Long-Term Liability.

There was a partner at the SuiteWorld trade display that specializes in this. LeaseQuery which has a suiteapp

also look at Netslease from Netgain I was one of their first client. Excellent product - downside was we got rid of the accountant who was taking care of the lease accounting because of this app netsuite

@Peter Auer - if you are already using FAM just use its GL module. Yes couple of adjustments you need to make manually every six/twelve months and post a LT?ST manual journal that is calculated for you. No need to have a full time person doing leases in FAM.. Not more work than in any other apps, yes, nicer, but nicer vs $$$$.

Note that when I got Netlease in 2018 for one of my past company FAM module did not have any options for lease. That was the reasoning behind getting that. Now I am looking at their NetClose suiteapp.

Thx to all of you. I have scheduled a demo with NetGain tomorrow and LeaseQuery on Friday.