IFRS 16 Software: What to Look For and Which Platforms Do It Well

If you're a US-based company with even one international lease — an office in London, a warehouse in Germany, a distribution hub in Singapore — you need software that handles IFRS 16, the international lease accounting standard, alongside your domestic ASC 842 obligations. Not every "lease accounting software" on the market actually supports it. Here's what to look for, and which platforms in this directory handle it well.

What IFRS 16 requires that some software skips

IFRS 16 eliminated the operating/finance lease split for lessees — under IFRS 16, nearly every lease is treated the same way, recognized as a right-of-use asset and lease liability. That single-model approach sounds simpler than ASC 842's dual classification, but it creates a real technical requirement: software has to run genuinely different calculation logic for IFRS 16 versus ASC 842, not just relabel the same output.

Some lease accounting tools are built US GAAP-first and never added true IFRS 16 support — they're worth ruling out immediately if any part of your portfolio is international. iLeasePro, for example, is explicitly ASC 842-only. That's a perfectly reasonable choice for a US-only small business, but a dealbreaker the moment you add a foreign lease.

What to check before choosing

• Parallel calculation, not conversion. Ask directly: does the platform calculate IFRS 16 and ASC 842 figures independently and simultaneously on the same lease record, or does it calculate one and derive the other? The latter approach tends to produce errors on edge cases like index-linked payments, which IFRS 16 requires you to remeasure annually and ASC 842 generally does not.
• Multi-currency support. International leases mean foreign-currency payments. Confirm the software handles FX translation (ASC 830 / IAS 21) automatically, not as a manual workaround.
• Low-value asset exemption. IFRS 16 has a low-value asset exemption (commonly a ~$5,000 threshold) that ASC 842 doesn't offer. Software built ASC-842-first sometimes misses this entirely.
• Vendor's actual IFRS 16 expertise. A few platforms in this space were built by teams with deep IFRS backgrounds (some with UK/EU roots); others added IFRS 16 as a feature on top of a US-first product. Both can work, but it's worth asking who's actually staffing your support tickets when an IFRS-specific question comes up.

Platforms in this directory that support IFRS 16

Based on our own research across 23 lease accounting and administration tools, these platforms explicitly support IFRS 16 alongside ASC 842 (not an exhaustive ranking — just a starting shortlist worth demoing):

• LeaseQuery (FinQuery) — supports the broadest range of standards in the category (ASC 842, IFRS 16, GASB 87/96, FRS 102, SFFAS 54), built by 40+ in-house accountants
• Trullion — AI-powered ingestion with a source-linked audit trail, useful if you're managing IFRS 16 leases across many entities and want traceability back to the original contract
• Cradle — transparent published pricing, daily-level calculation granularity, supports ASC 842/IFRS 16/GASB 87/96 in parallel
• Crunchafi — built by CPAs and Big Four auditors, strong for CPA firms managing IFRS 16 compliance across multiple clients
• NetLease (Netgain) — if you're already on NetSuite, this runs IFRS 16 natively inside your ERP rather than as a bolt-on
• Visual Lease — 25+ years of lease management experience, backed by CoStar Group's market data
• Nakisa — built for large global enterprises with native SAP/Oracle integration depth, worth a look if your portfolio is genuinely enterprise-scale

Every one of these can be compared side by side — pricing model, ERP integrations, G2 ratings, and full compliance standard breakdowns — on our Lease Accounting and Lease Administration category pages, filtered specifically by Compliance Standards.

This article is for general informational purposes and isn't a substitute for advice from your auditor or accounting firm.