With an integrated General Ledger and automated G/L postings, you can ensure data consistency and integrity throughout the leasing process, even when financing in foreign currency or dealing with variable interest scenarios.
Find One Version of the Financial Truth
With a tight relation between General Ledger (G/L) and Lease contracts; one-off cost and revenue deferrals and recognition over the lease period; automated G/L postings where events on a lease contract are updated to the G/L immediately, SOFT4Leasing allows you to enjoy data consistency throughout the entire leasing process. Lease accounting, lease management, and financial accounting in one easy-to-use platform.
Keep everything from the payments’ data to information about balances in one place. With SOFT4Leasing, you can manage leases of any type within a specialized sub ledger integrated with General Ledger. This feature has a leasing posting setup, i.e., mapping the lease process to G/L accounts, and multiple functions for G/L posting automation: on contract activation, on the installment due, and on contract termination.
SOFT4Leasing is built on Microsoft Dynamics 365 Business Central, an ERP system that also includes its own financial accounting engine. Read more on financial management in Business Central here: https://learn.microsoft.com/en-us/dynamics365/business-central/finance.
However, if you are using other accounting software already – no problems. Using flexible APIs, we can integrate into any other accounting software, sending some G/L numbers needed there. We have integrated into SAP, Oracle, NetSuite, Microsoft Dynamics 365 Finance, Xero, 1Tech, MYOB, and multiple other local software systems.
The system supports two methods of forex rates – closing rate or historical rate. Financing currency is bound to the Financial product, for example, “Finance leases in EUR”, “Finance leases in USD,” and “Finance leases in AUD”.
The system calculates actual daily interest with two components: a) financing interest, based on outstanding receivables, and b) penalty interest, based on overdue amount. This feature allows for configurable methods of 360/30, 365/Actual, and Actual/ Actual day conventions.
You can see the interest calculation log with each component involved in the calculation – number of days, interest base, interest rate, tolerance applied.
Floating Interest Management module is used in variable (floating) interest scenarios when financing interest is composed of two components – a floating reference rate plus a fixed interest margin. The module has tables for reference rates (e.g., EURIBOR) and a function to apply a new reference rate to contracts and recalculate future installments.
One solution for all your leasing needs
From the Quote to Contract Termination. Lease accounting, lease management and financial accounting – all in one place.