IFRS 16 and the RE-FX module in the SAP system
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Since 1 January 2019, the international accounting standard IFRS 16 requires that all leases with a term of more than 12 months, except those with low value, be recognised in the balance sheet. This means that assets and liabilities must be recognized for all leases.
RE-FX Module for IFRS 16 in the SAP System
The SAP module RE-FX (Flexible Real Estate Management) offers a solution to meet the requirements of IFRS 16. This module enables the management and accounting of real estate and leasing contracts in real time. Here are some of the main features of the RE-FX module:
- Real-time valuation of finance leases: RE-FX enables real-time valuation of finance leases, which improves accounting transparency and accuracy.
- Elimination of financial interfaces: Integration with SAP FI, CO and AA reduces the need for additional financial interfaces.
- Reduction of the number of applications in the system: RE-FX simplifies the leasing solution landscape by reducing the number of applications in the system.
- Analytics : Various evaluations are available to support lease management.
The RE-FX module in the SAP system provides a comprehensive solution for meeting the requirements of IFRS 16. Integration with SAP FI, CO and AA as well as the availability of analysis evaluations make lease accounting efficient and transparent.
Consilios IT supports the new introduction of SAP RE-FX IFRS 16 as well as the transfer to the new S4Hana system
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IFRS 16 and the RE-FX module in the SAP system
The SAP module RE-FX (Flexible Real Estate Management) offers a solution to meet the requirements of IFRS 16.
Consilios IT was established in 2011. Our services are primarily focused on consulting and programming in SAP. Since the beginning of the company's existence, we have specialized in implementing the following SAP modules: RE-FX (Flexible Real Estate Management), FI (accounting), document management, closed-end investment fund management.
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