IFRS 16 Software

A solution that checks all the boxes

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Automated Accounting To Make Everything Easier

Cradle is an IFRS 16 software solution that enables your finance team to focus more on what matters most - running your business. Leave the complex calculations, modifications, journal entries and document management to our software. Free up valuable time to focus more on judgement areas and leave the financial reporting and disclosures to us! Once your contract is defined as a lease, all the NPV calculations and journal entries are done by Cradle. Any modification or reassessment to the terms can be completed in just a few clicks. All you need to do is enter the key agreement details such as start date, payment frequency, amount & discount rate, and your lease accounting is done. No more crashing of excel, no more manual calculation errors. We even have auditor access so you won’t have to deal with them either ;)

Intuitive Software That You Can Use Instantly

The software is built so you can on-board your leases and have journal entry calculations done quickly and accurately with no training required. And don’t worry if you do hit a roadblock, our customer service team will be there to assist you at every step. The Cradle team has an experienced group of chartered accountants, so you can talk accounting with someone who truly understands your needs inside and out.

IFRS 16 Journal Entries, Disclosures & Forecasts - Done At A Click

From calculations to disclosures, journal entries to forecasts, it can all be done at the press of a button. Cradle frees up your precious resources so you can focus them on other areas of financial reporting. Set up your general ledger codes in Cradle, run your journals, select export and they’ll be in your GL quicker than you can say “automate”. The future of IFRS 16 accounting is here.

Calculation Methodology That Is Accurate To-The-Cent

The software NPV calculations methodology is modelled directly on the IFRS 16 Illustrative examples. We take our numbers very seriously, which is why they are accurate right down to the cent (Cradle can calculate better than a human can after all). With us, you even get to select what calculation methodology suits your business. Want to do it the way excel does? You can do that. Want to calculate NPV as the standard setters do? You can do that. Furthermore, you can conveniently run, download & export CSV file extractions that can be opened in Microsoft Excel, so you are always sure where exactly your numbers are coming from.

Robust Lease Management Included

Proper management of key contractual dates is necessary to ensure correct accounting. That’s why we have included contract management functionality that is everything you’d expect. From uploading related documents to adding custom fields and events, Cradle allows users to manage the contract as well as the accounting.

Easily Migrate Current Leases. Need A Little Extra? Get Custom Solutions.

Is your current accounting solution not meeting expectations? Numbers not balancing accurately? We make switching to Cradle easy. If you need help migrating from your current software or you have specific report requirements of IFRS 16, we’d be more than happy to figure out a custom solution for you.

Available Reports

Journals

  • Run for any data range
  • Agreement or Company wide
  • Customizable GL Codes

Balance sheet

  • ROU asset carrying amounts
  • Accumulated depreciation
  • Lease liability amounts

Income statement

  • Depreciation of ROU assets
  • Interest on lease liabilities
  • Variable lease expense
  • Low value/short term lease expense
  • Non-lease component expense

Cash Flow

  • Financing cash flows
  • Operating cash flows

Disclosures

  • Asset balance rollforward by asset class
  • Liabilities rollforward by asset class
  • Maturity analysis
  • Current/non-current lease liability classification
  • Complete disclosures report

More

  • Add any custom field
  • Work with non-standard calendars
  • Generate any type of report
  • Detailed step by step guide
  • Advanced document management

The only full IFRS 16 turnkey solution on the market today.

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