In order to implement the required functions in the PORR Oevermann organization, PIKON started this project with an in-depth analysis of the existing leasing and accounting process. This was followed by the design, implementation, testing and training of the new leasing and accounting process. After the Go-Live, we supported the organization until the process and the functions were stable.
The SAP solution for lease contract management is based on the SAP Flexible Real Estate module (SAP RE-FX), which is integrated with SAP FI, CO and AA. It is important to know that it’s not necessary to implement and define the entire SAP RE-FX module. It is possible to only implement the SAP RE-FX Contract Management part and its accounting integration.
How SAP RE-FX makes your SAP system compliant with the new IFRS 16 Leasing rules
SAP RE-FX is a complete contract management solution. It enables you to set up different types of contracts, manage the business partners of your contract in the tool, keep track of critical dates in the contract life time and manage the contract conditions. This is all managed in a central contract database, so all involved parties in the organization will work on the same contract data. In this solution, the lease contract could be valuated according to the local HGB and the IFRS 16 valuation. For this, we could rely on the Multi-GAAP accounting principle of SAP RE-FX.
A big plus of the SAP RE-FX module is the direct SAP FI/CO integration. The module calculates payments, depreciations and the present value. Based on these calculations, postings are made directly in the SAP FI and SAP CO modules.