What's New in Lucanet Lease Accounting

A new Migration workspace under Settings lets you move an existing lease portfolio from the IFRS 16 script into Lucanet Lease Accounting. Upload the H2 database file together with the lookup file (XLS or XLSX format), specify the migration date, and start the migration. After processing, the Migration report and the Component validation report are available as Excel downloads and identify placeholder values, missing mandatory information, and zero amounts.

Migrated lessors, contracts, and contract components are available under Data collection for review and correction. Calculations, postings, and exports remain hidden until you select Approve migration.

The Component reversal workspace now includes a Reverse all components option. When the option is activated, the Contract and Contract component drop-down lists are disabled, and the reversal applies to all reversible components in the selected reporting entity. After confirmation, Lucanet Lease Accounting processes the components and displays an outcome summary with the total number of processed components and how many succeeded or failed. If any components fail, the summary lists the reason so you can take corrective action.

You can now configure the exchange rates that Lucanet Lease Accounting uses to convert between currencies. The new Exchange rate management functional area is available under Administration in the menu of the Lucanet CFO Solution Platform and contains two workspaces:

For each currency combination, you choose whether exchange rates are derived automatically from the European Central Bank or from an Excel file you upload yourself in the Custom upload of exchange rates workspace. Each combination is bidirectional and is shown as a single row in the Existing combinations table. The detail view of a combination lists every stored exchange rate, including date, value, rate type, and source.

In the Create reports workspace, you can now create the Disclosures report and the Balance values for reference date report for more than one reporting entity at a time. In the Reporting entity drop-down list (default: the entity you are signed into) select one, several, or all reporting entities. After you confirm in the dialog, the report is created for the selected date and data is compiled into one file.

The overview table for Reporting entities is now editable, allowing you to edit the Country or region and the Functional currency fields. This supports bulk updates when many reporting entities are imported from Consolidation & Financial Planning and is especially useful for migrations (e.g. from the IFRS 16 app to the CFO Solution Platform).

Please note that the functional currency can only be changed as long as no components have been calculated for a reporting entity.

In the Create postings section, you can now create postings for more than one reporting entity at the same time. This reduces repeated runs when postings are needed for many reporting entities.

You can now attach PDF files directly to lease contracts, making it easier to keep all contract documentation in one place. This feature allows you to:

This enhancement streamlines document management by keeping contract files directly associated with their respective lease contracts within the Lease Accounting solution.

Two new modification parameters have been added to provide more comprehensive lease accounting capabilities:

Both modification parameters are available under Asset information when modifying calculated components:

Import templates are now available in Excel format in addition to CSV, making automatic data import easier. The templates include new fields to streamline bulk data imports:

For more information on using import templates, see Importing Data Automatically.

Lease Accounting now supports automatic translation of components in different currencies, allowing you to manage multi-currency leases seamlessly. This comprehensive feature includes two key capabilities:

Component Currency Selection

When creating or editing lease components, you can now select the currency in which the component should be calculated. The Component currency field provides a dropdown menu with multiple currencies, allowing you to specify the original currency for each component.

Currency Display Options in Reports

Reports now offer flexible currency display options, allowing you to view lease data in your preferred currency. When generating reports, you can:

By default, the currency of the contract component is applied.

The Functional currency field in the Reporting Entity workspace can now be edited as long as no calculations have been performed for that reporting entity, regardless of whether active components exist. Once calculations are performed, the functional currency becomes locked and cannot be changed.

This change provides greater flexibility during the initial setup phase while maintaining data integrity after calculations begin.