The Zuyd Finance Lease Accounting Wizard helps MediaMonks meeting IFRS 16 compliance

MediaMonks’s business has grown rapidly in the past period. Likewise did its portfolio of lease contracts, to be accounted for under IFRS 16. In order to diminish the administrative burden for the company and to facilitate compliance with IFRS 16, MediaMonks started using the Zuyd Finance Lease Accounting Wizard in order to manage the accounting over its lease contracts.

“The implementation went smoothly. All our questions were answered timely, and Zuyd Finance provided very good assistance when we encountered issues”

Automation to save valuable time and stay in control

The Lease Accounting Wizard enables its users to easily keep up with future contractual changes such as contract renewals, extensions and indexations. The application offers reporting functionalities at various levels within an organization whereby disclosure reports, cash flow reports and journal entry reports can be generated with a single click.

Journal entry reports which can directly be uploaded in the client’s ERP system

From the Lease Accounting Wizard, journal reports can be easily modified to meet specific client needs. The Lease Accounting Wizard provides MediaMonks with custom journal entry reports which can be directly uploaded in their ERP system.

“The biggest advantage for us is all the time we are saving on manual accounting entries during month end as well as the peace of mind we have regarding the accuracy of the calculation and the accounting entries. We would definitely recommend the Lease Accounting Wizard to others”