Nomos One

Nomos One is a lease accounting and lease management software designed to streamline lease processes for businesses of various sizes. According to the vendor, this software caters to a wide range of professions and industries, including chartered accountants, auditors, property managers, finance teams, real estate agents, banking, childcare, corporate, education, and finance. With its user-friendly interface and robust features, Nomos One aims to efficiently manage lease portfolios and ensure compliance with lease accounting standards.

Key Features

Lease Accounting: According to the vendor, Nomos One offers a comprehensive lease accounting software solution that automates calculations for right-of-use assets, lease liabilities, depreciation, and interest expenses. It also generates journals accordingly.

Lease Management: Nomos One centralizes lease information in one place, automating administrative tasks such as calculation, event reminders, and lease document generation. The software provides a customizable dashboard, workflows, reports, and fields, according to the vendor.

Onboarding: Nomos One provides a thorough portfolio review and custom account set-up, aiming to ensure a seamless transition to the platform. According to the vendor, ongoing support is offered to new users.

IFRS 16 Calculations: Nomos One automatically calculates right-of-use assets and lease liability across the lease portfolio. The software creates asset classes and applies bulk settings for leases with similar characteristics. According to the vendor, it accounts for various lease components such as term options, exemptions, restoration/make-good provisions, direct costs, purchase options, termination payments, residual value guarantees, and interest rates.

IFRS 16 Reporting, Journals & Disclosures: Nomos One generates draft balance sheet, profit and loss statements, and cash flow statements for IFRS 16 reporting. The software provides journals and disclosures for lease accounting, allowing for customization and adjustments based on lease events and modifications. According to the vendor, it supports reporting at the individual lease level, by groups, portfolio, or different business entities.

Eliminates Spreadsheets: Nomos One aims to eliminate the need for manual spreadsheet calculations by providing one-click calculations and reports. According to the vendor, this feature significantly reduces the risk of errors and improves accuracy in lease management and accounting processes.

Huge Cost Savings: According to the vendor, Nomos One streamlines lease management and accounting processes, resulting in time and cost savings for businesses. It aims to improve accuracy in lease calculations and reporting, reducing the risk of errors.

Central Repository: Nomos One offers secure cloud access to lease information, providing a central repository for all lease-related documents and data. According to the vendor, this ensures easy and efficient access to lease information for all stakeholders.

Fully Supported: Nomos One includes unlimited storage, users, accounts, and support. According to the vendor, it provides reliable support from a dedicated team and offers assistance from in-house technical accountants for training and answering questions.

Easy Onboarding: Nomos One's onboarding service reviews the entire lease portfolio and customizes the software set-up to meet specific needs. According to the vendor, it aims to ensure a smooth and efficient onboarding process for businesses.