Frequently Asked
Questions.

Nakisa Lease Administration is a lease management and accounting solution designed to accelerate compliance with IFRS 16 and ASC 842 by automating, centralizing, and simplifying lease accounting operations.

There’s no limit on the number of users. However, number of users is a pricing factor, so keep that in mind!

Administrator and train-the-trainer programs are available through remote and onsite offerings. These programs are designed to accelerate user adoption and get you independent on day-to-day operations.

The solution is designed to meet the needs of complex lease portfolios and can handle all operating and capital leases for lessees.

Nakisa Lease Administration is a designed to leverage data from your existing ERP. Native integration and 3rd party system integration is available for a variety of ERP systems.

No, Nakisa Lease Administration can be deployed as a standalone solution to fill the white-space left by your existing finance and accounting systems.

Yes, its scalable and there’s no limit! Our customer’s range from mid-size to enterprise and require full scalability to deal with their global lease portfolios - many with well over 250,000 active agreements.

Designed with market-driven feedback, Nakisa Lease Administration is the result of close collaboration with our co-innovation customers and has been reviewed and validated by more than one of the “Big-4” accounting firms and other independant firms.

The solution supports the old and new lease accounting standards: IAS 17, ASC 840, IFRS 16, and ASC 842.

Yes, the solution includes functionality to assist in the classification of contracts under the new standards and will guide users towards an assessment with final determination based on each customer's corporate accounting policies.

The solution supports the comparative reporting requirements for transition accounting purposes. This can be achieved through the set up of multiple accounting standards and via standalone mode.

Absolutely, many of our customers are migrating from spreadsheet-based solutions. We can accept virtually any flat-file and upload most mandatory fields automatically.

The solution provides out of the box disclosure reporting capabilities and also includes additional reports such as dashboards for internal decision making and analysis, and transaction reports for reconciliation purposes. Additional capabilities are supported through integration with 3rd party BI tool.

Yes, and available out of the box with no configuration required.

Audit reports are available out of the box and include a full change log and audit trail which captures each time-stamped event with user ID, comments, and other relevant details. This information is always available and always remains linked to your contracts.

The solution can capture all data elements to manage, assess and perform the appropriate accounting for master lease agreements as well as addendums, schedules, and contracts. Data elements are easily configurable to support each individual customer's business processes.

The solution is designed to handle all lease-life events including renewals, terminations, re-assessment and casualties in the appropriate accounting period.