Transition on the balances already in your records

If your organisation already reports its lease balances, for example for group IFRS 16 reporting or in another system, you can now transition each lease using those balances instead of recalculating them.

When you calculate the transition, choose Use the balances in your records and enter the opening liability and asset. Lease102 uses the rate from your records if it reproduces the liability; if not, it works out the rate that does, so the schedule closes at nil. The transition memo shows both rates.

For many leases at once, Bulk Calculate can read the balances from a spreadsheet, and a reconciliation workbook lists every lease and rate for your auditors.

Whether those balances are the right starting point is for you and your auditors to judge. This option is switched on for your organisation on request.