This article was written by Rubli for CPDStore.
Choosing lease accounting software is about more than replacing a spreadsheet or automating a present value calculation. The real test is whether it makes lease accounting easier to control as the portfolio grows, contracts change, and reporting requirements become more demanding.
A good system should take finance teams from implementation through month-end, lease changes and ultimately audit, without forcing them back into spreadsheets every time something unexpected happens.
That is the thinking behind Rubli. It brings lease data, accounting, reporting and audit history into one place, helping finance teams manage the full lease accounting lifecycle rather than simply calculate the numbers.
Implementation should leave you with numbers you trust
A lease accounting implementation starts with more than uploading contracts into a system.
The underlying lease data needs to be captured correctly, assumptions reviewed and opening lease liabilities, right-of-use assets and related balances established and reconciled.
This matters because implementation errors have a habit of travelling. An incorrect payment schedule, lease term or assumption does not stay confined to the opening calculation. It flows into depreciation, interest, journals, disclosures and future modifications. Often, the problem only becomes obvious several months later, or when an auditor starts asking questions.
The goal of implementation should therefore not be to get leases into the system as quickly as possible. It should be to arrive at a starting position that finance can rely on.
Rubli works alongside finance teams through implementation, helping validate lease data, establish and reconcile opening balances and prepare the portfolio for live reporting. The first month-end should not also be the point at which you discover whether your implementation was right.
Month-end should become routine
Once implementation is complete, lease accounting should settle into the normal rhythm of the finance function.
That means calculations flowing into journals and reporting consistently, with finance able to review movements, understand what has changed and post the required entries without maintaining a second set of calculations somewhere else.
If the software produces a number but the finance team still needs a spreadsheet to understand it, something has gone wrong.
Rubli automates recurring lease accounting under IFRS 16 and FRS 102 while keeping the underlying lease information and accounting together. Journals, movement schedules, maturity analysis and other reporting can be generated from the same data used to maintain the lease portfolio.
The aim is simple: lease accounting becomes another controlled part of month-end, not a specialist exercise that needs to be rebuilt every reporting period.
The real test comes when leases change
Initial lease calculations are rarely the hardest part of lease accounting.
The complexity comes later.
A rent review takes effect. A property lease is extended. Part of a site is surrendered. Payment terms change. An option is reassessed. The same lease may then change again six months later.
This is where spreadsheets and basic calculation tools can quickly become difficult to manage. Each change needs to be reflected correctly without losing sight of what happened before.
Good lease accounting software should treat these events as part of the normal lifecycle of a lease, not as exceptions that require the calculation to be rebuilt from scratch.
Rubli allows modifications, reassessments and other lease events to be processed while retaining the history of the lease and the accounting impact of each change. That history becomes increasingly valuable over time, particularly when someone needs to explain why today's balance differs from the original calculation.
Audit readiness should be built in, not bolted on
Audit preparation often exposes weaknesses in a lease accounting process.
An auditor asks why a lease liability changed nine months ago. Finance then has to find the relevant contract amendment, locate an old spreadsheet, work out which version was used and reconstruct how the accounting was calculated.
It is possible. It is also a poor use of everyone's time.
A well-controlled lease accounting process should create its audit evidence as the work happens. Changes, calculations, assumptions and supporting documentation should already form part of the record.
Rubli maintains an audit trail throughout the lease lifecycle, giving finance teams visibility over changes and their accounting impact. Rather than reconstructing the story at year-end, finance can trace it through the system.
That changes the nature of audit preparation. Instead of asking, “Can we prove how we got this number?”, the information should already be there.
Software still needs people behind it
There is another part of lease accounting software that is easy to overlook when comparing feature lists: the people supporting it.
Not every lease accounting problem is a software problem.
Sometimes the question is where to click. But sometimes it is whether a contract change constitutes a modification, how an option affects the lease term or how an unusual transaction should be reflected in the accounting.
Those are very different support requests.
Rubli's support combines knowledge of the platform with practical lease accounting experience. That means finance teams can get help not only with using the system, but also with working through the real-world lease accounting scenarios that inevitably arise.
For a specialist finance system, that distinction matters.
What good lease accounting software should deliver
Ultimately, lease accounting software should do more than produce an accurate calculation on day one.
It should help finance establish a reliable opening position, make month-end repeatable, handle the changes that occur throughout the life of a lease and leave a clear trail behind every material number.
That is when software starts to provide more than automation. It gives finance greater control over the process itself.
Rubli is designed around that principle, bringing implementation, ongoing lease management, accounting, reporting and audit readiness into a single platform.
If you would like to see how Rubli manages the lease accounting process from implementation through to audit, book a demo.
Frequently asked questions
What should finance teams look for in lease accounting software?
Look beyond the initial lease calculation. The software should support implementation, ongoing lease changes, recurring journals, reporting, audit trails, user controls and document management in one place.
One useful test is to ask what happens when something changes. Can you process the event, understand the accounting impact and explain it six months later without rebuilding the calculation elsewhere?
How does lease accounting software help with IFRS 16 and FRS 102 compliance?
Lease accounting software applies a consistent methodology across the lease portfolio and automates calculations, journals and reporting. It can also retain the underlying data, assumptions and history needed for internal review and audit.
Software does not remove the need for accounting judgement, but it can significantly improve the consistency and control with which those judgements are applied.
How long does it take to implement lease accounting software?
That depends on the number and complexity of leases and, importantly, the quality of the underlying data.
The focus should not simply be speed. A good implementation includes data validation, opening balance calculations and reconciliation before live reporting begins. Getting into the system quickly is of little value if the numbers need to be revisited afterwards.
What support should finance teams expect from a lease accounting software provider?
Support should extend beyond technical troubleshooting. Finance teams should expect help during implementation, assistance using the system and access to people who understand practical lease accounting when more complex questions arise.
The most valuable support often starts when the question changes from “How do I do this in the software?” to “How should we account for this?”
The contents of this article are meant as a guide only and are not a substitute for professional advice. The author/s accept no responsibility for any action taken, or refrained from, as a result of the material contained in this document. Specific advice should be obtained before acting or refraining from acting, in connection with the matters dealt with in this article. The information at the time of publishing was accurate and could be subject to final changes.
