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Leased Asset Management

Track leased assets, payment schedules, contract terms, return conditions, and end-of-lease options

Complexity: Moderate | Duration: 15-30m | Category: Operations/Process

Tags: #lease-management #ifrs16 #contract-management #financial-reporting #accounting

Workflow Diagram​

Steps​

Step 1: Lease Recording​

Agent: asset

manager - Log lease contract details and terms

Step 2: Asset Registration​

Agent: asset

manager - Create asset record with leased status

Step 3: Payment Scheduling​

Agent: financial

analyst - Set up automated payment reminders

Step 4: IFRS 16/ASC 842 Compliance​

Agent: accounting

specialist - Calculate right-of-use asset and liability

Step 5: Journal Entry Automation​

Agent: accounting

specialist - Record monthly lease expense and amortization

Step 6: Condition Monitoring​

Agent: asset

manager - Track maintenance and condition for return

Step 7: End​

Agent: of

Lease Alerts - contract-manager - Notify 6/3/1 months before expiration

Step 8: Option Evaluation​

Agent: financial

analyst - Analyze purchase, renew, or return options

Step 9: Return Preparation​

Agent: asset

manager - Inspect condition and prepare for return

Step 10: Financial Reconciliation​

Agent: accounting

specialist - Close out lease liability and asset

Usage​

To execute this workflow:

/workflow operations/process/leased-asset-management.workflow

See other workflows in this category for related automation patterns.