FRS 102 Transition
Transition existing UK SME leases to FRS 102 Section 20: setting the transition date, modified retrospective approach, opening balances, transition journal.
FRS 102 Modified Retrospective Approach
The default FRS 102 transition method recognises the lease liability and ROU asset at the date of initial application, without restating comparatives.
Setting Your FRS 102 Transition Date
The FRS 102 transition date determines when you first apply Section 20, and every lease still running at that date comes on balance sheet, even pre-2026 ones.
Opening Balance Calculations
FRS 102 transition requires calculating opening lease liability and ROU asset at the transition date. How Lease102 generates Day 1 balances.
Transition Journal Entry
The FRS 102 transition journal recognises opening ROU, lease liabilities, and any retained earnings adjustment. Lease102 generates the entry.
Bulk Calculate Transition
Calculate FRS 102 transition opening balances for many leases in one click. Per-lease discount rates with an optional batch fill, shared transition date.