The latest update to Nakisa Lease Administration, version 2021.R2, introduces several key enhancements that streamline lease accounting and improve business processes. These features include the ability to carry over impairment reserve balances, perform mass CPI adjustments, and increase automation across key lease accounting tasks.

Carryover Impairment Reserve Balances

Managing impairment events is a complex task, especially in uncertain times like the Covid-19 pandemic. Nakisa Lease Administration now offers a solution for users to easily import previously impaired Right-of-Use (ROU) asset balances into the system. This capability eliminates the need for managing impairment reserves in a separate system, thus enhancing operational efficiency and simplifying the reconciliation process.

The 2021.R2 release introduces two new fields at the Lease Component and Activation Group levels. These fields, “Company Account Impairment Asset” and “Company Asset Maximal Impairment Reversal for IFRS 16,” enable companies to bring forward impairment reserve balances and effectively manage subsequent impairment events. This unique feature significantly reduces complexity and streamlines the management of impairments within a single platform.

Mass Local CPI Change

For leases with payments tied to the Customer Price Index (CPI), periodic updates are essential. Nakisa Lease Administration has long supported mass global CPI changes, and now, with the 2021.R2 update, it also enables batch updates for local CPI. This feature allows users to efficiently adjust multiple contracts with a single action, whether for global or local CPI, using filters to target specific contracts.

This enhancement is located in the Batch Management section, where users can select either Local CPI or Global CPI updates and apply them to a group of contracts simultaneously. This streamlined process saves time and simplifies the management of CPI-based lease adjustments.

Enhanced Batch Posting and Reversal Capabilities

Nakisa Lease Administration continues to improve automation for its users. In version 2021.R2, two new options for posting and reversing accruals, payments, depreciation, and charges have been added to the batch process. Previously, users could only process one type of transaction at a time, but now, they can post or reverse multiple types of transactions in a single batch job.

This new functionality is particularly useful for companies that integrate Nakisa with other financial systems like ERPs. The enhanced batch capabilities help streamline business operations, reduce manual efforts, and improve the overall efficiency of financial processes. Audit logs and reports are also available for these activities, providing transparency and accountability.

Compatibility with Microsoft Edge

As Microsoft phased out support for Internet Explorer (IE) 11 in August 2021, Nakisa has updated its Lease Administration software to be fully compatible with Microsoft Edge. This update ensures a seamless experience for users transitioning away from IE11, with no need to enable Legacy Mode. Nakisa also continues to support Google Chrome, maintaining consistency and ease of use across different browsers.

Conclusion

Nakisa Lease Administration 2021.R2 brings essential new features designed to enhance lease accounting processes, improve automation, and increase flexibility. Whether it’s importing impairment reserve balances, updating CPI data, or streamlining batch transactions, these updates make it easier for organizations to manage their leases effectively. Additionally, the compatibility with Microsoft Edge ensures a smooth user experience as web technologies evolve. With these improvements, Nakisa continues to provide cutting-edge solutions to meet the growing needs of modern lease accounting.