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Kick-off Meeting for New SAP Leasing User Group on December 5, 2017

Posted by Bramasol Leasing Administration Team on Mon, Nov 27, 2017 @ 05:07 PM

LeaseAdministration-HotTip.jpgWe are excited to announce the formation of a new SAP Leasing User Group and pleased to invite you to the first online meeting:
December 5, 2107 at 9 AM PST - 12 PM EST.

The purpose of the Leasing User Group is to bring together SAP, customers and partners in a community to share information on the latest features, roadmap and updates on the SAP Lease Administration by Nakisa (Lease Administration) and SAP Real Estate Management (ReFX) solutions.  

You will hear from the SAP product leaders, Pete Graham and Tom Andersen, as well as, Nakisa and others.   Product experts will be on hand to answer your questions live.

Click Here to Register to Attend the Leasing User Group Kickoff Meeting

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Topics: leasing, Leasing-Hot-Tips

Why Lease Admin Software Must Integrate with Your ERP System

Posted by Bramasol Leasing Administration Team on Mon, Oct 30, 2017 @ 06:16 AM

LeaseAdministration-HotTip.jpgAs companies look ahead to achieving compliance with new lease accounting standards, ASC 842 and IFRS 16, this implementation process also provides an excellent opportunity to significantly improve overall efficiency and effectiveness of enterprise-wide lease administration methodologies.

One of the key opportunity areas is integration between lease administration software and core ERP systems.

Native integration with your existing ERP can provide key benefits, including:

  • Two-way data flows between core ERP system and Nakisa or REFX system
  • Asset accounting, fixed asset, materials and payments flow between ERP system to SLAN and REFX
  • Less customization with minimal maintenance requirement
  • Complete visibility of your leases in the ERP system for easy tracking and traceability 
  • Disclosure reporting for an end-to-end system

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SAP Lease Administration by Nakisa is a purpose built end-to-end lease accounting and administration solution that provides access to company-wide lease data, with the visibility and traceability needed to support and comply with the new regulatory standards.

The SAP Real Estate Management solution is a fully integrated sub component of SAP Finance that
provides a simplified approach to the leasing solution landscape by elimination of complex financial
interfaces, reduction in the number application and real time valuation of finance leases.

Seamless coordination between Lease Administration and Asset Accounting is critical for proper
classification and valuation. By integrating seamlessly with core ERP  platforms, both Lease Administration by Nakisa and, SAP Real Estate Management eliminate any problems with operational silos between these key functions, thereby improving accuracy, auditability and overall administration efficiency. 

As a partner of both SAP and Nakisa, we provide a holistic view to the impact the new Leasing standard will have on your organization. Our methodology and approach helps ensure that you can meet the upcoming changes to the standards. Bramasol works with you to evaluate the system changes needed under the new regulations, determine how significant they will be going forward, and lay out a path toward implementation with an emphasis on the impact to the SAP system. 

For more information on Bramasol's lease accounting services, visit https://www.bramasol.com/solutions/leasing/ 

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Topics: Leasing-Hot-Tips

ASC 842 and IFRS 16 Lease Accounting is Different for Real Estate vs. Equipment

Posted by Bramasol Leasing Administration Team on Mon, Oct 9, 2017 @ 06:33 AM

LeaseAdministration-HotTip.jpgIn 2016, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) issued new standards for lease accounting: IFRS 16 & ASC 842, which must be implemented by 2019. Both IFRS 16 and ASC 842 are the result of a joint effort between the IASB and FASB to meet the objective of improved transparency, comparability and financial reporting.

These changes will impact virtually all companies, whether lessors or lessees. Regardless of your company's size or industry, under the new standards your balance sheet will be different. 

When putting together your compliance plans for ASC 842 and IFRS 16, it is important to understand that solutions for real estate leases vs. equipment leases require very different features and capabilities.

Real estate leases tend to include specific issues such as tenant improvements, utilities, triple-net expenses, sub-leasing contracts, space utilization tracking, taxes, etc. that are not applicable for equipment leases.

On the other hand, equipment leases have a myriad of potential factors that need to be addressed by lease accounting solutions including, service contracts, maintenance schedules, trade-in options, utilization tracking, re-sale value, etc.

Although the compliance requirements specified in the new standards apply to both real estate and equipment leases, the processes for managing and accounting for these leases need purpose-built solutions.  Some people compare it to choosing the correct bicycle for your planned route.  You wouldn't attempt to navigate a rough mountain trail in a road bike any more than you'd choose a mountain bike to compete in a road race.  Matching the solution to your needs is the best way to achieve success.

That's one reason that, at Bramasol, we have developed deep expertise for implementing and supporting  two purpose-built, best-of-breed, feature-rich solutions: SAP Flexible Real Estate Management (RE-FX) and SAP Lease Administration by Nakisa.  As part of our overall lease administration and accounting initiatives, we have also developed detailed processes for compliance and disclosure reporting for ASC 842 and IFRS 16.

Click here to learn more about Bramasol's Lease Administration solutions and services.

 

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Topics: leasing, Leasing-Hot-Tips

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