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Description
ContractHive offers a lease accounting solution driven by AI, specifically designed to comply with IFRS 16 standards. It effectively abstracts leases from various formats, creates schedules for Right-of-Use (ROU) assets and lease liabilities, tracks important dates, and integrates multi-entity portfolios into a cohesive, audit-ready source of truth. This comprehensive approach streamlines lease management and ensures accuracy across all accounting processes.
Description
Lease102 is a specialized lease accounting software tailored to ensure adherence to FRS 102 Section 20, streamlining the accounting workflow through AI-driven data extraction, calculations, journal entries, and disclosure reports. Designed specifically for businesses in the UK and Ireland, this platform employs FRS 102 logic directly, rather than modifying it to fit IFRS 16 standards. By harnessing advanced AI technology, it efficiently extracts crucial information from lease agreements, minimizing the potential for human error associated with manual data entry. The calculation engine incorporates the Bank of England SONIA and ECB €STR rates to calculate suitable discount rates accurately. Additionally, it maintains an extensive seven-year audit trail that records all lease alterations and computations, enhancing transparency and accountability. Among its other valuable features are tools for team collaboration, management of lease modifications, alerts for expiration, support for multiple currencies, and options for integration with ERP systems. Furthermore, Lease102 prioritizes security by implementing AES-256 encryption, utilizing TLS 1.3 protocols, and ensuring data storage within UK/EU regions, thus upholding GDPR compliance and safeguarding sensitive information. This holistic approach not only simplifies the lease accounting process but also reinforces the trust businesses place in their financial reporting.
API Access
Has API
API Access
Has API
Screenshots View All
No images available
Integrations
Microsoft Dynamics 365
Sage 200
Sage 50
Xero
Pricing Details
No price information available.
Free Trial
Free Version
Pricing Details
from £20 per month
Free Trial
Free Version
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Vendor Details
Company Name
ContractHive
Founded
2025
Country
United Arab Emirates
Website
contracthive.ai/
Vendor Details
Company Name
Lease102
Founded
2025
Website
lease102.co.uk
Product Features
Lease Accounting
Amortization Schedule
Asset Management
Billing & Invoicing
Budgeting & Forecasting
Capitalization Reporting
Critical Date Alerts
Expense Tracking
For Equipment Leases
For Real Estate
Payment Tracking
Portfolio Management
Tax Management
Product Features
Lease Accounting
Amortization Schedule
Asset Management
Billing & Invoicing
Budgeting & Forecasting
Capitalization Reporting
Critical Date Alerts
Expense Tracking
For Equipment Leases
For Real Estate
Payment Tracking
Portfolio Management
Tax Management