Lease Hub

A managed service providing complete, accurate and timely lease accounting.

KPMG Lease Hub assists in reducing the disruption to your business and manages your AASB 16 lease accounting from start to finish: from extracting data and documenting assumptions through to generating lease balances, journal entries and disclosures.

The requirements of the new leases standard, AASB 16 Leases (AASB 16), means that leasees are now required to bring the majority of their operating leases onto the balance sheet. Leases for assets such as property and equipment previously treated as 'off-balance sheet' will now be accounted for as a right-of-use (ROU) asset and lease liability. Importantly, lease accounting is no longer a ‘set and forget’ exercise, with balances needing to be reassessed on an ongoing basis, creating accounting complexity that did not previously exist.

Lease Hub, a managed service, takes care of this complex accounting – you provide your base information (e.g. lease contracts) and management assumptions (facilitated through easy-to-complete templates) and we generate the required balances under AASB 16 on a timely and cost-efficient basis for your reporting.

Lease Hub assists in reducing the disruption to your business of the accounting standard change.

How it works

  • Submit your lease contracts
  • Receive tailored and timely reporting
  • Let us know as things change
  • Focus on your business and let us do the rest!

What are the benefits?

BETTER PRACTICE

A secure portal, tailored for your business needs, with built-in Quality Assurance.

MINIMISE DISRUPTION

Avoid disruption of system selection, implementation, lease portfolio maintenance and reporting.

ACCURACY

Avoid disruption of system selection, implementation, lease portfolio maintenance and reporting.

COST EFFECTIVE

No system or internal process costs; no additional resources – just a single monthly fee for a cost effective service.

GREATER OVERSIGHT

Real-time access to all your lease information, anytime, anywhere – including an audit trail.

POWERFUL INSIGHTS

Data analytics provide value add lease monitoring and analysis – you benefit from future upgrades and system enhancements.

Features

Track all your leases, securely with Lease Hub

Our managed service supports all types of lease portfolios – from small and simple to large and complex, in a safe and secure transfer of information to and from KPMG’s specialists via our specially designed and proprietary workflow.

Our managed service provides a clear and demonstrable audit trail for transition and on-going calculations.

Accurate lease extraction

The quality of lease data capture is critical to the accuracy of lease accounting under AASSB 16.

If required, we can provide quality and accurate extraction of lease data from contracts, to give you greater confidence in the accuracy of your accounting.

Timely tailored reporting to meet your needs

Our timely reports include budgeting and financial reporting, and can be tailored to your needs e.g. by organisation, asset type and user defined group.

Do you want to calculate your own lease balances?

KPMG has developed some lease models to help you capture and account for leases under AASB 16.

Find out more

Get in touch

Fill out the form below, and we will be in touch to discuss how KPMG Lease Hub, our managed service, and our range of Lease Models can benefit your business.

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