Are there any features to support Lease Accounting?

Question

Example: If I bought a machine for £100,000 where I am paying lease
at 12% for 5 years. At the end of the payment I will own the machine. I
will be paying a fixed monthly payment of £2,224.44 every month for 5
years. How would this be setup on Odoo so that my balance sheet and
income statement is accurately recorded?

Ray Carnes (ray) · Accepted Answer

After calculating the PV of the future payments, create a Manual Journal Entry to record the corresponding Asset and Liability at the same
time, with a DEBIT to a Fixed Asset account and a CREDIT to your lease liability account.
From the DEBIT Journal Item, you can then
CREATE ASSET, choose the depreciation expense account, check the
depreciation schedule, and set up the automated depreciation entries to reduce the value of the Asset by periodically expensing it.
When your Lease payment is due,

Fakrudeen Abbaz · Answer

Try this module for IFRS 16 Lease Accounting  https://apps.odoo.com/apps/modules/18.0/ifrs_16_lease_accounting_oi [1]

[1] https://apps.odoo.com/apps/modules/18.0/ifrs_16_lease_accounting_oi

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