New lease accounting standard compliant system
At each stage towards the implementation of the new lease accounting standard in April 2027,
multibook provides you with all the services you need in one stop.
New lease accounting standards
From fiscal years beginning on or after April 1, 2027
The decision was made to enforce
To be consistent with IFRS
Significant changes
Regarding Japan's lease accounting standards, the 532nd Accounting Standards Board of Japan held on September 3, 2024 approved the publication of the Corporate Accounting Standards, Corporate Accounting Standards Implementation Guidelines, Practical Solutions Report, and Transfer Guidelines. The content of the standards is intended to be consistent with IFRS, so there will be significant changes from the previous approach, and the basic approach will be the same as that of IFRS 16.
The new standards require complex calculations
Accounting is required
The new lease standards will significantly change the accounting treatment of lessees, starting with the requirement that lessees, in principle, have all leases on the balance sheet. The impact on financial statements will not only be an increase in assets and liabilities, but will also have an impact on the income statement and management indicators such as ROA (return on assets). In addition, the new lease accounting standards require complex calculations and accounting procedures, so there are limitations to how much can be done with Excel, and it is necessary to introduce a system and start considering it early.
New lease accounting standards applied
Aimed at
multibook
One-stop service
At each stage towards the implementation of the new lease accounting standard in April 2027,
multibook provides you with all the services you need in one stop.
Multibook
leased asset management function
multibook 's leased asset management function is fully compliant with Japan's new lease accounting standards.
This will ensure a smooth transition of operations, including consolidated financial statements.
Only leased asset management function is available.
We can also handle customized development to link journal entry data with the accounting system your company uses.
Feature 01
We can handle complex lease contracts!
- Multi-level (up to 600 levels) lease fee setting
- Payment timing (advance payment, same month payment, deferred payment)
- Free Rent
- Change of conditions
- Multi-month advance payment
- Maturity Continued
- Cancellation
Feature 02
Automatic judgment, automatic calculation, and redemption table output are also possible!
The system also automatically determines whether an asset is small, short-term, or capitalized, automatically sets the discount rate, and calculates the initial amount recorded for the right-of-use asset, the initial amount recorded for lease obligations, monthly Depreciation, lease obligations repayment amounts, and interest paid.
It is also possible to print out a redemption table for each lease contract.
Feature 03
Reasonably priced with a short implementation period of just 2 weeks!
multibook is simple and easy to use, yet equipped with all the necessary functions to comply with Japan's new lease accounting standards, and can be implemented quickly in as little as two weeks.
In addition to reasonable usage fees, we also provide thorough support during installation and a complete follow-up system after the system goes live.
You can use it with confidence.
Feature 04
Supports consolidated accounting! (leased asset of overseas subsidiaries)
It is highly likely that overseas subsidiaries will continue to treat leased asset as off-balance sheet items or with interest included, and for such leased asset at overseas subsidiaries, consolidated adjustment journal entry will be required in the consolidated financial statements. multibook supports not only accounting journal entry for Japanese subsidiaries, but also consolidated adjustment journal entry for leases at overseas subsidiaries.
Feature 05
We can also handle large volumes of lease contracts!
We provide a variety of features, including background execution functionality, to ensure smooth business operations with large amounts of data. You can use the system without stress, even with large amounts of lease contracts.
If you have a large number of lease contracts, such as hundreds of thousands of contracts, please contact us. We will consider providing you with a dedicated environment.
Uniting the World
Comparison of leased asset management software
multibook 's leased asset management system has consolidated adjustment entry feature supports leased asset at overseas subsidiaries,
We also support customization development to enable integration with existing accounting systems.
Furthermore, with its high functionality and reasonable pricing, it offers superior implementation benefits compared to other companies' products that comply with Japan's new lease accounting standards.
- With our extensive experience in complying with IFRS 16, we can journal entry consolidated adjustments for leased asset of not only domestic bases but also overseas subsidiaries.
- journal entry link function with your accounting system can also be flexibly customized to meet your needs.
- High functionality, yet outstanding cost performance
| Product A (for large companies) | Product B (for small and medium-sized businesses) | ||
|---|---|---|---|
| IFRS16 Compliance Track Record | Proven track record | Proven track record | Not supported |
| Compliance with new lease accounting standards | correspondence | correspondence | correspondence |
| Speed of implementation | Minimum 2 weeks to several months | A few months | 1 to several months |
| To your accounting system alignment |
Can be developed specifically for your company | Can be developed specifically for your company | In-house ERP/optional support |
| Consolidated (overseas subsidiaries) | Printing Consolidation Adjustment journal entry Entries | Printing Consolidation Adjustment journal entry Entries | Not supported |
| Multilingual and Multi-Currency | Supports 12 languages and Multi-Currency | Japanese, English, and Multi-Currency support | Japanese language and Japanese yen |
| Global Support | Global Response | Global Response | Japan-centric |
| Cost performance | Inexpensive | Primarily high-priced | Inexpensive |
| Lease accounting services | correspondence | Not supported | Not supported |
Examples
We have helped clients resolve various issues related to IFRS16 leased asset management.
We have received high praise for our attentive, detailed and speedy service.
Konoike Transport Co., Ltd.
- Industry: Transportation industry (consolidated sales of approximately 300 billion yen)
- Locations: 2 locations in Vietnam / 2 locations in Thailand / 1 location in the Philippines
By introducing IFRS16 leased asset management functionality, quarterly accounting work was reduced by more than 10 hours. Standardize leased asset management without using Excel
multibook was introduced to solve the issue of leased asset management. Achieved global centralized management at five locations in Vietnam, Thailand, and the Philippines.
By moving away from Excel management, we standardized operations and streamlined accounting operations with the automatic output function for consolidated adjustment journal entry and note information. This reduced quarterly accounting operations by more than 10 hours. Strengthened data preservation and multilingual support ensured internal control, and we were able to achieve smooth use at overseas subsidiaries and successfully acceleration consolidated accounting. The burden on accounting staff was also significantly reduced.
- Industry: Temporary staffing business (consolidated sales: 150 billion yen)
- Bases: 6 Japanese companies / 4 UK companies
multibook Centralized management approximately 8,000 pieces of leased asset information!
Succeeded in moving away from Excel, standardizing operations, and acceleration of accounting
multibook was adopted to improve the efficiency of leased asset management operations. It has been put into operation at six locations in Japan and four locations overseas, and systematization of lease management operations has been achieved. By improving data accuracy and strengthening data protection, and automatically creating consolidated adjustment journal journal entry and notes, the workload of accounting staff has been significantly reduced. In addition to ensuring internal control, the management level has been improved throughout the entire group.
- Industry Import and sales of beauty equipment
- Location Japan (Parent company: Korea)
Multi-language multibook allows you to study IFRS16 without language restrictions
Achieve greater efficiency in leased asset management operations and strengthen internal controls!
multibook was introduced to overcome the limitations of Excel management due to the large amount of figures and numbers used, including Korean. Multilingual support has enabled accurate leased asset management, improved business efficiency, and strengthened internal controls. The automatic calculation and consolidated adjustment journal entry creation functions have streamlined quarterly accounting operations and significantly reduced communication costs with the head office.
