Manage IFRS 16 right-of-use assets and lease liabilities alongside hire purchase arrangements and fixed assets, with SARS tax depreciation — all in one system.
Unlease hell!
Who it is for
Product overview
AssetAccountant brings IFRS 16 right-of-use lease accounting, hire purchase arrangements, and fixed asset management together in one system. Built for South African organisations applying IFRS 16, it covers the lessee side of your leases — keeping lease schedules, journals and reporting in one place rather than across disconnected spreadsheets.
Keep every IFRS 16 lease in one structured register, including leases brought into the system part-way through their lifecycle using opening balances.
Calculate and track ROU asset balances across the lease term, including make good provisions capitalised into the ROU asset where applicable.
Track lease liabilities with current and non-current splits, and review gross and net liability balances across reporting periods.
Generate period journals separating interest expense, principal movements and current/non-current liability reclassifications, mapped to your chart of accounts.
Set up the payment schedule and applicable discount rate, including an incremental borrowing rate where relevant, to calculate the initial lease liability, support setup of the related ROU asset and calculate interest across the schedule.
Process changes to lease terms or payment schedules through structured modification and remeasurement workflows. Update the lease liability and ROU asset for CPI or index-linked changes once the revised index or rate is known, where applicable.
Record and manage make good provisions across the lease term, including them in the right-of-use asset where applicable.
Produce reports supporting IFRS 16 lease reporting and disclosure preparation, including ROU asset movements, lease liability balances, interest expense, payments and lease expiry schedules.
Finance arrangements
AssetAccountant manages hire purchase and other supported financed-asset arrangements separately from IFRS 16 right-of-use lease accounting, alongside your fixed asset register.
Manage hire purchase and other supported asset finance arrangements by entering the amount financed and payment schedule alongside the related fixed assets.
Attach multiple financed assets to a single finance arrangement and manage them through a shared payment schedule.
Process refinancing, adjustments and terminations across supported finance arrangements, with bulk workflows available for refinancing and adjustments.
One system
AssetAccountant brings IFRS 16 lease accounting and South African fixed asset management into the same platform. Finance teams can manage right-of-use assets, lease liabilities and payment schedules alongside owned fixed assets and SARS tax depreciation calculations, while keeping lease accounting and fixed-asset tax records clearly separated within one system.
Supported standards
South African organisations applying IFRS Accounting Standards generally recognise most leases on the balance sheet through a right-of-use asset and a corresponding lease liability. AssetAccountant supports the lessee-side workflows required to manage these balances, payment schedules, journals and subsequent lease changes — all in one system.
Calculate the initial lease liability from the payment schedule and applicable discount rate, including an incremental borrowing rate where relevant, and set up the related right-of-use asset using the applicable lease inputs.
Track interest expense, current and non-current liability balances, payments and right-of-use asset movements across the full lease term.
Process modifications, remeasurements, CPI- and index-linked adjustments, make good provisions and terminations, with reports supporting IFRS 16 lease reporting and disclosure preparation.
AssetAccountant also supports ASC 842 for organisations with international reporting requirements in other jurisdictions.
Integrations
Fixed assets and leases run in one platform, with journals reviewed and posted through supported accounting integrations using configured GL account mappings. Available import, posting and synchronisation workflows vary by integration.
CLIENT TESTIMONIALS
From Big 4 firms to solo accountants, public company CFOs to corporate finance teams;
— here’s what they say about our fixed asset depreciation and lease accounting software:
"Up until 2021 we had been using Excel spreadsheets to calculate and manage fixed asset tax depreciation for the group's registers, which was not sustainable. To address this and to implement automation of the process, we researched solutions offered in the market, including by the large accounting firms and specialist software providers. After thoroughly vetting AssetAccountant as a vendor, testing the software and its calculations, and reviewing the company's data security, we committed to implement the software for all tax fixed asset registers for the Whitehaven Coal group. Since implementation we have been very satisfied with the decision. The software is intuitive, robust, easy to use, and accurate. AssetAccountant's commitment to ongoing development of the product's features has also been impressive."
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"After being introduced to AssetAccountant in 2020 by PriceWaterhouseCoopers, I carefully reviewed the software's functionality to suit our complex fixed asset depreciation and lease accounting requirements. For example Buildsafe acquires, disposes and writes off thousands of assets including partial transactions. We also need flexible reporting and detailed journals. I have found the software to be enterprise standard, robust and precise. The software is a very elegant blend of beauty and smarts. The ongoing support, product development and assistance has been responsive and reliable. An amazing team and product. Thank you."
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"AssetAccountant (AA) has produced the ultimate Fixed Asset Management System. AA integrates seamlessly with Xero and produces reports that satisfies any auditor with easy to trace transactions that are verifiable. The real hidden gem is their Lease Accounting facility which takes all the heartache and time consuming issues out of AASB16. Fantastic product — has literally saved me hours of work."
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"We love using AssetAccountant. The time savings for every client's depreciation entries means not only is profit increased on every job, but our additional team capacity can be directed to more valuable work. There is literally no risk in the investment of AssetAccountant fixed asset depreciation software."
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"Big Boy Jocks On.... Ever wanted the big company fixed asset system without all the clunkiness and overthinking on the part of the software developers (I'm looking at you Thomson Reuters...)? Well then you need AssetAccountant. It provides just the right mix of complex depreciation calculations and beautiful user interface. It's a system designed by accountants and executed perfectly by developers. The integration is seamless with Xero (you can sign into AA with Xero credentials which is awesome if you are already running Xero on your browser) and journaling synchs are very flexible between the two applications. Then there is the price. I challenge you to find a more robust fixed asset system at these price points. Well done AssetAccountant. You get me. I now have my big boy jocks back on for fixed asset management....and they fit!"
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"From the initial contact with the team at AssetAccountant to the final implementation, we have received prompt and positive responses. The effective support service and continuous improvement makes AssetAccountant a product highly recommended to a wide variety of industries as well as to accounting firms."
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"It's amazing we calculated this year's depreciation in just a matter of minutes!"
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"Our organisation was looking for a standalone cloud-based fixed asset register that could calculate depreciation for multiple companies. AssetAccountant was a perfect solution that removed the need for tracking assets and calculating depreciation through spreadsheets. The team at AssetAccountant were very responsive throughout the implementation process. The system is straightforward to use and has various options for both asset tracking and depreciation to make it suitable for most organisations."
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"Now that AssetAccountant is in our app store, our customers and sales team have a cloud option for fixed asset depreciation which has a strong integration with QuickBooks Online."
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"After years of 'paying a premium' for our Asset Management, we decided to go in-house. More than impressed with the ease and capability of the software, and the staff were a pleasure to deal with from go to whoa. Fabulous to have monthly reporting, as opposed to annual as well."
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"I have seen a lot of niche products come and go but the one constant has been the lack of a decent fixed asset register. I was recently invited to see the latest incarnation and it did not disappoint. I am confident that both accounting firms and corporate clients will be lining up to use it — I have already been extolling the solutions' virtues."
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"We initially came across AssetAccountant when researching potential replacements for the Xero asset register. AssetAccountant sparked our interest due to its ability to easily and transparently forecast depreciation, transfer assets between sites, revalue assets and asset part disposals. The AA team have been extremely helpful which has provided us with confidence in the product, we look forward to exploring additional features to find more efficiencies in our processes."
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"We highly recommend the use of AssetAccountant. Our clients benefit immensely from accurate asset register records, making spreadsheet accounting (and typical errors) a thing of the past. We can easily maintain tax and accounting registers providing our clients with accurate and meaningful information. AssetAccountant is a breeze to use, and we love that it integrates with QBO and Xero."
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Plans
Explore AssetAccountant plans for South African teams — whether you manage your own leases and fixed assets or handle them across multiple clients. Plans are priced in ZAR.
Manage your own IFRS 16 leases, hire purchase arrangements and fixed assets in one system, with plans that scale from small businesses to large corporates.
View South African pricing →Handle IFRS 16 leases and fixed assets across multiple client registers from a single firm-wide account, with pricing built for South African accounting practices.
View accounting firm pricing →FAQ
Start a free 30-day trial, or request a demo to see how AssetAccountant can support IFRS 16 lease accounting workflows for your South African organisation.
