The new standard IFRS16 This has brought significant changes to how companies recognize lease agreements in their financial statements. With the requirement to record the right to use the asset and payment obligations on the balance sheetAs a result, many organizations have faced challenges in ensuring compliance, traceability, and operational efficiency.
Companies that manage multiple lease agreements need a reliable solution to ensure accounting accuracy and integration with their financial processes.
From January 1, 2019IFRS 16 requires that lease agreements be reflected in the balance sheet by recording:
To meet these requirements, the SAP has enhanced the SAP RE-FX (Flexible Real Estate Management) module., offering full support for the requirements of IFRS 16, as well as accounting standards such as US GAAP and other international standards.
The solution allows companies to manage lease agreements in a structured way, ensuring transparency, automation, and integration with the SAP financial environment.
Ensuring traceability and accuracy in generating entries related to lease agreements.
Centralized control of all contracts, with a clear view of the contractual terms.
Reducing manual work through the automation of accounting entries and calculations required by IFRS 16.
Automated processes for terminations, renewals, and adjustments, reducing manual errors.
A Tec2Cloud has extensive experience in projects of SAP Real Estate (RE-FX), supporting companies in the implementation, improvement and support of solutions for the management of real estate contracts and leases.
Our team combines Technical knowledge in SAP with accounting and regulatory expertise.ensuring that your company is prepared to meet the requirements of IFRS 16 efficiently and safely.
With Tec2Cloud, you get:
Speak with our experts and discover how to implement or optimize IFRS 16 management in SAP.
