In this chapter, you will find the individual steps required to account for your leases in Lucanet Lease Accounting. The steps must be carried out in the order provided, and performed separately for each lessee, i.e. for each reporting entity.
The step descriptions also contain links to more detailed descriptions.
The following steps describe how to account for your leases in Lease Accounting:
1
Configuring the Basic Settings
In the Settings area, complete the posting configurations by selecting the start of fiscal year and the transition date. If your organization needs its own posting schema, you can also upload your own transaction plan there; otherwise, Lease Accounting uses the default transaction plan from Lucanet.
Then create the lessees, asset classes, and interest rates to form the foundation for your data collection and posting.
2
Selecting Lessees
In the Get started area, select the lessee for whom you want to enter the lease relationships.
3
Collecting Data
In the Data collection area, create the leases for each lessee by adding the corresponding lessors, lease contracts, and components required for calculations in accordance with IFRS 16.
4
Categorizing Components
The Categorization area automatically categorizes the created lease components and identifies the leases that are classified as ‘regular’ in accordance with IFRS 16.
5
Calculating Data
In the Calculation area, preview the calculations Lease Accounting carries out based on the information you have provided and check the data. If the data are correct, you can save them straight to the Lease Accounting database here.
If necessary, you can reverse components in the Data collection area to reset them to their original state, i.e. how they were before their calculated values were first entered in the database. With a change of lessee, you transfer an active, calculated contract component from one lessee to another lessee as of a transfer date.
6
Saving Postings
View the calculated components in the Postings area and save the postings for the components in the Lease Accounting database.
If necessary, you can reverse the postings saved in this area.
7
Exporting Data
Use the Export area to export the postings you have created, so they can be imported into Lucanet.Financial OLAP Server or another system.
You can also use this area to create and export various types of reports, providing you with a summary of different lease accounting data.
8
Importing Postings into CFP
If you have a Consolidation & Financial Planning (CFP) license, you can import the postings saved in Lease Accounting directly into CFP using a script.
This content was generated using AI and reviewed by Lucanet subject matter experts before publication.