The Power of LOIS

Understanding LOIS – Flexible Lease Accounting Software

LOIS refers to Lease Optimisation Information System and is Quadrent’s software solution for lease management and IFRS 16 compliance. Developed alongside our partner IRIS Innervision and with years of leasing experience within the team, this is a product that truly understands leasing.

LOIS lease accounting software helps organise leases in one place and gives direct access to every aspect of your leasing data. LOIS will help you meet all the IFRS 16 accounting reporting requirements and is able to handle all leased asset classes and agreement types including modifications and in life changes.

Our Team Are Lease Accountant Experts Rather Than Software Developers

Quadrent is the only company offering leasing accounting expertise and a IFRS 16 software solution. Coming from a foundation of accounting expertise rather than a stock standard SaaS rollout, the partnership between IRIS Innervision and Quadrent has benefited some of the largest companies across Australia and New Zealand. These companies need strong automated and controlled accounting ledgers in an easy-to-use and efficient program.

Used by 300+ Customers to Reach Their IFRS 16 Compliance Goals

With now, over 300 customers globally, organisations that use LOIS to manage and enhance their lease portfolio are able to produce all the accounting information compliant with IFRS 16, including income statements, cash flow and balance sheet impacts. LOIS will generate complex calculations with ease.

With LOIS, you have the ability to load your own data and conduct scenario analysis inhouse using the excel upload template configured to your master data requirements.

LOIS can manage all agreements and in life changes (modifications). Using the GL functionality LOIS creates a new amortisation schedule for the change as well as keeping the existing amortisation schedule for accurate reporting. All amendments are logged in a full audit trail.

Unlike Excel that requires a human element, LOIS can store and report on all asset data without the need for manual calculations and accounting. As a system, LOIS does the heavy-lifting for you. The system is fast to implement and automates processes, saving you time and money.

Who Is LOIS Suitable For?

Across APAC, LOIS has proven to be an effective lease accounting software solution for companies of all sizes from a range of industries such as:

Agriculture
Mining
Retail trade
Education and training
Manufacturing
Transport

The largest customer in the region has 7,000 leases stored in LOIS, while the smallest client has 33 leases. The largest asset leased in the region has a value of over AUD1 billion. In contrast, much smaller leases on the platform include those for technology hardware such as employee’s devices and point-of-sale systems. The average lease size due to the proliferation of property is circa $1.9m

Is Your Incremental Borrowing Rate up to Date?

With the current environment in a constant state of change, it’s important to ensure your Incremental Borrowing Rate (IBR) is up-to-date and correct, especially for modifications. This will help avoid any compliance issues or balance sheet inaccuracies down the track.

If you are unsure of why an IBR is important or how to calculate it, our friends at Deloitte have put together some handy FAQs covering the what, why, when and how of IBR.

Would you like to explore more?

Let us show you how easy it is to save time and costs. Clients such as Vodafone, South 32 and QBE are IFRS 16 compliant using LOIS.