Lease102

Lease102 is a specialized software tool designed to help UK small and medium-sized enterprises (SMEs) comply with the FRS 102 Section 20 lease accounting standard. It automates the entire process: you upload your lease agreements (like PDFs or scans), and the tool extracts key data, performs the required financial calculations, and generates the necessary journal entries and disclosure reports. The goal is to replace error-prone spreadsheets and manual work, providing a complete, audit-ready package for your finance team and auditors.

What makes Lease102 stand out is its deep focus on UK-specific regulations. Its calculation engine is built natively for FRS 102, not adapted from the international IFRS 16 standard. Key features include AI that extracts data from lease documents with high accuracy, automatic calculation of the Obtainable Borrowing Rate (OBR) using live Bank of England SONIA rates, and built-in handling for lease modifications and terminations. It also creates a detailed, seven-year audit trail for every change and can integrate with accounting software like Xero and Sage to post journal entries directly.

This tool is a clear fit for finance directors and accountants in UK businesses that manage property, equipment, or vehicle leases. Sectors like retail, property management, manufacturing, and professional services will find it most useful. It’s designed for teams that need to ensure audit compliance, model the financial impact of the new standards, and save significant time previously spent on manual data entry and complex spreadsheet calculations.