Manual Entry

Manual entry is the most straightforward way to add a lease. Follow the step-by-step form to enter all required details and Lease102 will calculate your liability and asset automatically.

Step 1: Basic Information

Enter the lease identification details: contract reference, lessor name, asset description, and asset class.

Step 2: Lease Terms

Define the commencement date, end date, and lease term in months.

Sample Lease Terms

Commencement Date: 01 January 2024 Contractual End Date: 31 December 2028 Lease Term: 60 months

Step 3: Payment Schedule

Define payment amounts and frequency. You can add multiple payment periods for stepped rents or rent-free periods.

Step 4: Discount Rate

Select OBR, IBR, or Implicit rate and enter the annual percentage.

FRS 102 Reference: FRS 102.20.27, 20.51-20.52

Step 5: Components

Add any incentives, direct costs, or restoration obligations that affect the ROU Asset.

Step 6: Save

Click 'Create Lease' to save. Lease102 immediately calculates your initial liability and asset value.

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