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The smooth guide to IFRS 16: Moving from Excel to lease accounting software

How do you move from managing leases in Excel to specialized lease accounting software? This guide walks through the practical steps of transitioning to House of Control’s IFRS 16 solution, while highlighting the common challenges finance teams face.

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Summary

Switching from Excel to IFRS 16 lease accounting software is simpler than most expect. With House of Control’s Excel-based import template, businesses can quickly migrate lease data with minimal manual work. Companies may either recreate historical data from the start or choose a switching date to save time and effort. Acting sooner prevents added complexity, ensures compliance, and frees up resources for value-generating work.

Why finance teams start in Excel

Finance professionals are often masters of spreadsheets. Excel is familiar, flexible, and widely used. At the same time, they know accounting standards inside out.

The issue arises when the number of leases grows. Managing IFRS 16 compliance in Excel becomes complex and time-consuming. This is usually the point when customers reach out to explore a software solution.

It’s worth noting:

  • Moving from Excel to lease accounting software is not as overwhelming as it may seem.

  • Understanding the process helps reduce hesitation and drives action.

  • What once took weeks or months can now be completed in hours or just a few days.

  • Waiting too long only increases inefficiency and compliance risks.

    Explore our IFRS 16 Software

The smooth move to IFRS 16 lease accounting software

Who better to guide us than Karl Oscar Rosli, House of Control’s Product Manager and IFRS 16 Team Lead? Most of our customers have worked with Karl Oscar during implementation or when seeking professional advice.

Imagine your company has 90 leases with different start and end dates, plus varying terms and price adjustments. Each lease is tracked in a separate Excel sheet. How do you migrate all of this into specialized software?

According to Karl Oscar:

  • A new Excel-based import template makes migration simple.

  • The template includes columns for key lease metadata: start date, end date, payments, adjustments, and organizational details.

  • Mandatory fields ensure accuracy, while custom columns can be added as needed.

If the Excel data is structured well, transferring it into the template is quick and straightforward.

Handling adjustments and historical data

But what if contracts have been updated over time? There are two main options when switching from Excel:

Recreate from the start

  • Begin calculations from the original commencement date.

  • Manually recreate historical changes to reach the current ending balance.

  • Accurate, but time-consuming.

Use a switching date

  • Select a point in time and upload the opening balance for that period.

  • Keep historical values stored separately.

  • Saves significant time, reduces manual work, and speeds up implementation.

In practice, option two means you can move from Excel to House of Control’s lease accounting software in a matter of hours while minimizing manual input.

Why sooner is better than later

Lease adjustments and complexities typically grow over time. The longer a business waits, the more challenging the transition becomes. For companies that know they must switch eventually, starting today reduces workload and sets the foundation for scalable, compliant lease management under IFRS 16.

Key takeaways

  • Transitioning from Excel to lease accounting software is easier than most expect.

  • Using House of Control’s import template streamlines data migration.

  • Businesses can choose between recreating historical data or using a switching date.

  • Acting sooner prevents unnecessary complexity and supports long-term compliance.

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