OIXIO ASC842 for Lessee

Ensure compliance with ASC 842 efficiently

For many finance and accounting teams, meeting the requirements of the ASC 842 standard can become a demanding and time-intensive process. Typical challenges include:

• Managing large volumes of lease contracts and related data across multiple spreadsheets.
• Manually recognizing lease-related assets and liabilities in the General Ledger.
• Recalculating and updating accounting entries when contract amendments occur.
• Preparing financial statements in full accordance with U.S. GAAP ASC 842.

All these lease-accounting tasks can be automated and controlled within this easy-to-use solution, helping lessees reduce administrative workload while ensuring full ASC 842 compliance.

The OIXIO ASC 842 solution delivers all necessary functionality to support end-to-end lease-accounting processes — from contract entry and schedule calculation to modification handling and final lease closure.

Key features & functionality

Lease Contract Data Storing and Schedule Calculation

• Define individual lease terms for each contract (Finance or Operating lease).
• Calculate present value of lease liabilities and ROU assets.
• Split payments into principal and interest components.
• Support for multiple payment periods (monthly, quarterly, semi-annual, annual).
• Manage contract workflow and approval.

Lease Liabilities Management

• Initial recognition of lease liabilities at activation.
• Liabilities automatically split into short-term and long-term portions.
• Periodic amortization of lease liabilities based on calculated schedules.

ROU Asset Management

• Automatic recognition of ROU assets upon lease activation.
• Depreciation of ROU assets according to the selected method.

Contract Amendment and Modification Management

• Ability to update lease terms (payments, period, interest rate, etc.) at any time.
• Automatic recalculation of lease liabilities outstanding and ROU asset book value.

Ending and Termination

• Automatic disposal of ROU asset and liability when balance reaches zero.
• Gain/loss calculation for premature termination with posting to General Ledger.

Reporting

• Detailed reports by contract and schedule level.
• Balance Sheet and P&L statements per lease.

Supported Editions: The app supports the Essentials and Premium Editions of Microsoft Dynamics 365 Business Central.

Supported Countries: Supports all countries where Microsoft Dynamics 365 Business Central is available.

Supported Languages: Available in English.

Click the Contact me button and learn more about OIXIO ASC 842 for Lessee.