FINPRO IFRS 16

FINPRO IFRS 16 solution is developed with a flexible and adaptable architecture within the SAP system for companies with IFRS16 obligations. Accounting postings that companies need to reflect in all lease tables are transferred to the SAP system without any problems in line with IFRS16 standards.

1. HOW DOES IT WORK?

• Contract information such as General Information, Renewal & Cancellation Clauses, Conditions, Effective Interest Rate, Payment Increase Rate, Payment Plan, Contract Obligations, ROU (Right of Use) are saved on the cockpit screen pursuant to the adaptations and then the calculation details can be accessed.

• Correction postings of the contract conditions can be saved without any additional calculation.

• There is a separate program for transfer of multiple contracts. The data is read from Excel and transferred to the contract tables.

• After the contract postings are completed, the IFRS16 entries can be accessed when the relevant parameters on the accounting screen are filled.

• With the effective interest rate entered within the scope of the contract, all payments are reduced to

their value at the beginning of the period, and over this value the interest amount and foreign exchange difference are calculated.

• The lease expense entry in the TPL (tax procedure law) book is taken back within the scope of IFRS 16 via the accounting program.

• Opening, interest expense, obligation payment, early closing, long-term/short-term transfer and

depreciation entries are also created.

• In contracts made in foreign currency, the national currency values are displayed through the relevant

button. Accounting postings can be created for calculated exchange rate differences.

• Calculations for contract scope changes are followed in different versions. Adjustment postings can be

created over the calculation differences between the two versions (TPL & IFRS).

• The solution can be integrated with Non-SAP contract management applications.

2. BENEFITS

• You can track all your lease agreements on your balance sheet under a single model, regardless of

financial or operational leasing.

• You can quickly and easily manage and report complex payment, valuation, depreciation, exchange

rate effects and interest transactions according to the IFRS16 standard.

• Financial statements can be easily and practically analyzed by anyone, as IFRS compliance provides a global, common reporting language.

• Calculations difficult to follow through Excel over time can be conducted by the program quickly.

e-Transformation Solutions

Financial Solutions

Banking Solutions

IFRS Full
Compliance

Effective Use of Resources

Periodicity

Flexible Reporting

Easy and Fast Use

How to install?

Installation is done by uploading transport requests to the system. Implementation starts with the steps in the “adaptations” menu. In order to collect information on invoices, SAP SD, FI, MM configurations are examined and adapted and developed accordingly. Invoice designs of the customer are made.
Are all E-Invoice taxpayers seen in the system?

All e-invoice taxpayers defined in the RA system are kept up-to-date in SAP. E-Invoice taxpayers can learn the taxpayer information reports of the current accounts defined in SAP. In addition, e-invoice sending scenario (basic/commercial) can be defined on both customer and invoice basis.
According to which criteria can incoming invoices be separated?

On the selection screen, filtering by invoice header information (company code, invoice date, E-Invoice number, invoice confirmation step, etc.), filtering by invoice accounting status and by the addressee of the invoice (customer/vendor codes, TIN, etc.) features are available.
For what purpose is the incoming invoice confirmation screen used?

Incoming invoices can be passed through internal approvals via this screen before the final approval is given by the Revenue Administration or the accounting process is performed.
Can we use it outside the SAP System?

The solution runs through the SAP. When invoices that are created in an external system flow to SAP, they also fall into the cockpit. If invoices that are not transferred to SAP are requested to be dropped into the cockpit, appropriate integration work should be done.
Is integration possible with different module data in SAP?

There are 3 modules in SAP that can produce invoices, namely SD, FI and MM. Invoices issued from these modules work as integrated into the system.