Buyer's guide
Best FRS 102 Lease Accounting Software for UK SMEs (2026)
The main FRS 102 lease accounting tools for UK and Ireland SMEs are Lease102, IRIS Innervision, Leasify, FinQuery, Rubli, OneTouch Leasing and Trullion. They differ on whether the engine is FRS 102 Section 20-native or adapted from IFRS 16, whether SME pricing is published, and whether UK SONIA / OBR rates and AI lease extraction are built in.
How to choose FRS 102 lease accounting software
Six criteria that separate a tool that merely supports FRS 102 from one built for it.
FRS 102 Section 20-native, not adapted from IFRS 16
Some tools are IFRS 16 or ASC 842 engines with FRS 102 bolted on. A Section 20-native engine maps every input and disclosure to a FRS 102.20 paragraph, with no cross-standard reconciliation.
Transparent, SME-scaled pricing
Enterprise lease tools are usually quote-only and priced for large portfolios. Check whether pricing is published and whether the entry tier fits a portfolio of a handful of leases.
UK rate support and AI extraction
Where the rate implicit in the lease cannot be readily determined, FRS 102.20.49 allows the obtainable borrowing rate (OBR) as the simpler of the two alternatives. Check whether the tool helps derive it from a UK SONIA or €STR base, and whether lease data can be extracted from PDFs rather than keyed by hand.
Modified retrospective transition
The 2026 change is adopted using the modified retrospective approach, which is mandatory. Confirm the tool calculates the transition adjustment at the date of initial application, not just steady-state periods.
Journal and disclosure output
The point of the software is the output. Check it produces FRS 102.20 note disclosures and journal lines that import into your ERP (Xero, Sage, Dynamics 365) rather than a generic export.
Audit trail and data residency
Auditors want a reconcilable input history. UK and Ireland reporters often also want UK or EU data hosting. Both are worth confirming before you commit.
FRS 102 lease accounting software compared
Side-by-side comparison
How the main FRS 102 lease accounting tools for UK and Ireland differ on the points buyers ask about most.
| Criterion | Lease102 | FinQuery | IRIS Innervision | Leasify | OneTouch Leasing | Rubli | Trullion |
|---|---|---|---|---|---|---|---|
| Engine focus | FRS 102 Section 20-native | Multi-standard (ASC 842 / IFRS 16) with FRS 102 module | Multi-standard (IFRS 16 / ASC 842 / FRS 102) | Configured for FRS 102 (IFRS 16-aligned) | UK FRS 102-positioned | FRS 102 Section 20 (multi-standard) | ASC 842 / IFRS 16 focus |
| SME pricing published | Published, from £20/mo + VAT | Quote-only | Quote-only | Published, from £225/mo | Not publicly stated | Quote-only | Quote-only |
| UK SONIA / OBR rate support | Built-in (live SONIA / €STR) | Not publicly stated | Not publicly stated | Not publicly stated | Not publicly stated | Daily BoE SONIA-linked swap curve | Not publicly stated |
| AI document extraction | Built-in | AI-assisted data entry | Not publicly stated | Optional add-on | AI-assisted lease capture | Not publicly stated | Yes (AI / OCR abstraction) |
| Deployment | Cloud SaaS | Cloud | Cloud SaaS | Cloud SaaS | Cloud | Cloud SaaS | Cloud |
| Modified retrospective transition | Built-in | Transition tooling | Not publicly stated | Not publicly stated | Yes (FRS 102 resource) | Yes (2026 simplified method) | Not publicly stated |
| Data residency (UK / EU) | UK / EU | Not publicly stated | Not publicly stated | Not publicly stated | Not publicly stated | Not publicly stated | Not publicly stated |
| ERP / journal export named | Xero, Sage, Dynamics 365 | ERP export (none named) | SAP, Oracle, MS Dynamics | ERP report (none named) | ERP export (none named) | SAP, Oracle, NetSuite, Sage Intacct, Xero | Not publicly stated |
| Origin | UK | USA | UK | Sweden | UK (parent Australia) | UK | USA / Israel |
Comparison compiled from publicly available vendor information as of May 2026. "Not publicly stated" means the vendor does not publish that detail; it does not imply the capability is absent. Other tools in this category include Worksavi and SOFT4Lessee. Spotted something out of date? Email support@lease102.co.uk and we will correct it.
Where Lease102 fits
Lease102 is the FRS 102 Section 20-native option positioned for UK and Ireland SMEs and their accountants. Its differentiator is the combination, in one product, of published pricing from £20 per month + VAT, a Section 20-native calculation engine, live SONIA and €STR rates for the obtainable borrowing rate, built-in AI document extraction, and UK / EU data hosting.
It is not the only tool with UK rate support: Rubli also derives the obtainable borrowing rate from a daily Bank of England SONIA-linked curve, and OneTouch Leasing is likewise UK-positioned for Section 20. The honest summary is that Lease102 leads on transparent SME pricing and an all-in-one Section 20 feature set; buyers with large or multi-standard portfolios should also look at the enterprise multi-standard tools in the table above.
Lease102 publishes its pricing: from £20 per month + VAT, with a 14-day free trial and no card required. See the full price list.
Frequently asked questions
What is the best FRS 102 lease accounting software for UK SMEs?
There is no single best tool for every business. For UK and Ireland SMEs the practical shortlist is software that handles FRS 102 Section 20 natively, supports the obtainable borrowing rate from a UK SONIA base, automates the modified retrospective transition, and produces FRS 102.20 disclosures. Lease102, Rubli and OneTouch Leasing are UK-positioned for Section 20; IRIS Innervision, FinQuery and Trullion are multi-standard tools that also support FRS 102. The right choice depends on portfolio size, budget and whether pricing transparency matters to you.
What is the difference between FRS 102-native and IFRS 16-derived tools?
An IFRS 16-derived tool was built for IFRS 16 (or US GAAP ASC 842) and configured to also support FRS 102. A FRS 102 Section 20-native tool was built for the UK and Ireland standard, so its inputs, discount-rate handling (the obtainable borrowing rate) and disclosures map directly to FRS 102.20 without a reconciliation layer. Both can produce compliant numbers; the difference is how much of the standard's UK-specific detail is built in versus configured.
Which FRS 102 lease accounting tools publish their pricing?
Most enterprise lease accounting tools (IRIS Innervision, FinQuery, Trullion, Rubli) are quote-only. Among the tools compared here, Lease102 publishes SME pricing from £20 per month (+ VAT) and Leasify publishes pricing from £225 per month. Published pricing tends to indicate a product positioned for smaller portfolios rather than large-enterprise procurement.
Do I need software that supports the obtainable borrowing rate (OBR)?
For most SMEs, yes. FRS 102 Section 20 lets entities discount the lease liability using the obtainable borrowing rate when the rate implicit in the lease is not available, which is the usual case. Software that derives the OBR from a daily UK SONIA (or €STR for Ireland) base plus a credit spread removes a manual, error-prone step and keeps the rate consistent across the portfolio.
Can I migrate from IFRS 16 software to an FRS 102 tool?
Yes. Lease data (commencement date, term, payments, options) is largely standard-agnostic, so an existing lease register can usually be exported to CSV or Excel and imported into an FRS 102 tool. The discount rate and transition treatment are recalculated under FRS 102 Section 20 rather than carried over, so plan to re-derive the obtainable borrowing rate at the transition date.
Is dedicated FRS 102 software worth it for fewer than ten leases?
Often yes. A spreadsheet can model one or two leases, but present value, right-of-use asset, depreciation, remeasurement on a rate review, and the FRS 102.20 disclosures grow complex quickly even for a small portfolio. Tools with published SME pricing (from around £20 per month plus VAT) are usually cheaper than the time spent maintaining and auditing a spreadsheet.
Where does Lease102 sit against the others in this comparison?
Lease102 is one of the Section 20-native, UK-positioned tools, alongside Rubli and OneTouch Leasing. What separates it within that group is published SME pricing rather than a quote, a self-serve 14-day trial with no card, AI extraction from lease PDFs included at every tier, and journal export to Xero, Sage and Dynamics 365 without a tier upgrade. Buyers with large or multi-standard portfolios, particularly those also reporting under IFRS 16 or ASC 842, should weigh the enterprise multi-standard tools in the table above instead.
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