24 Jun 2026
Smarter extraction, seamless FRS 102 transitions, and the leap to agentic AI
The mandatory FRS 102 Section 20 lease changes are now live (effective January 2026). This release helps you enter lease data faster, move operating leases onto the balance sheet, and hand auditors a ready-made file. Here's what's new in your account.
🤖 AI extraction gets smarter and more transparent
Verify data instantly with visual AI highlights
You can now see exactly which clause in your original PDF provided each extracted value. Click a field and the PDF scrolls to the supporting text, highlighted with a colour-coded confidence border (green, amber, or red). This speeds up the review of lengthy agreements and gives you a transparent audit trail for every approved value.
Intelligent handling of scanned documents
Our AI now automatically rotates and deskews text-less scanned documents before reading them, so sideways or upside-down scans no longer compromise the extraction of key data.
Dedicated vehicle lease fields
For vehicle fleets, the system now isolates the Registration and VIN into their own fields and flags implausible values, such as a VIN that is not 17 characters, for your review. It also captures the agreement's 'Date Signed' purely for audit purposes, so your FRS 102 commencement dates stay accurate and undisturbed.
Automated "3 + 47" initial rental capture
The AI now recognises the larger upfront payment in UK contract-hire agreements (for example, a "3 + 47" profile: three monthly rentals upfront, then 47). The initial rental is captured in its own field, so your Day-1 right-of-use asset and lease liability are measured accurately straight from import, with no manual schedule adjustments.
📊 Frictionless FRS 102 transitions
Moving operating leases onto the balance sheet is now faster and fully documented for your auditors.
Bulk transition processing
Moving from SSAP 21 to FRS 102? You can now transition a whole batch of leases at once. Select the leases, enter your discount rate and transition date once, and the system calculates the opening balances for the entire batch in one go.
Auditor-ready transition documentation
Download two new pre-formatted documents straight into your audit file:
- Per-lease Transition Memo: a single-page breakdown of opening balances and cumulative retained-earnings adjustments under the modified retrospective approach (no restatement of prior-year comparatives), with precise FRS 102 paragraph references and signoff blocks.
- Aggregate Transition Schedule: a side-by-side view of all transitioned leases, in both PDF and CSV.
🔗 Enhanced ERP integrations and journaling
Richer, more granular journal exports
The Journal Entry Export now carries new identifier columns on every line: Portfolio, Cost Centre, GL Account, and Currency. You can also filter these exports, as well as core reports like the ROU Asset Roll-Forward and Maturity Analysis, by a specific portfolio to isolate data by legal entity.
Seamless ledger posting
When syncing journals to a connected accounting system, the cost centre is now sent as a tracking category or dimension on each line, so your departmental analysis lands in the right place automatically.
💷 Multi-currency billing for practices
Localised practice plans
Accountancy firms on the Practice tier can now choose to be billed in GBP, EUR, or USD, so international practices can manage their subscription in their native currency from sign-up.
🚀 On the roadmap
Agentic Lease102: autonomous month-end support
We're evolving Lease102 beyond a standard assistant towards an agentic workflow that can manage multi-step accounting processes for you. The aim: reconcile monthly journals against your ERP, flag omissions (such as an unrecorded vehicle lease liability), and prepare the correcting entry for your approval. Come audit season, you'll be able to request a disclosure tie-out and get a traceable maturity analysis and ROU roll-forward, by asset class, drawn straight from your FRS 102 records. The goal is to remove manual bottlenecks and let your team focus on the judgement calls.
Local AI extraction: data sovereignty for regulated sectors
For organisations in highly regulated sectors, such as legal or medical services, we're working on an optional local extraction module that runs entirely on your own hardware. Our standard cloud service is already secure and never trains models on your data, but where a compliance framework demands total isolation, this on-premises option would keep confidential leases and financial records inside your controlled environment, with the same clause-highlighting you rely on today.
These are directional, not committed dates; we'll share more as they get closer.