# Lease Accounting System

> A sourced UK public sector contract award published by ESSEX COUNTY COUNCIL.

## Key facts

- Buyer: [ESSEX COUNTY COUNCIL](/buyers/essex-county-council/contract-awards)
- Supplier: [IRIS Software Limited](/suppliers/iris-software/public-sector-contract-awards)
- Award value: £95,378
- Tender value: £95,378
- Award date: 23 October 2024
- Published: 31 October 2024
- Contract start: 1 November 2024
- Contract end: 31 October 2026
- Stage: awarded
- Procurement category: services
- Notice ID: cc7bafac-a94a-4d62-8152-c0057ab7a523-798898
- OCID: ocds-b5fd17-2dfbe787-9d27-4a7a-b614-ae6267b64e17

## Description

A software system that has the functionality to hold details of the Council's leasing arrangements where the Council is either lessee or lessor\. The system will need to calculate the year end lease accounting entries \(journals\) such as recognition of lease liabilities and Right Of Use remeasurement of lease liabilities, write down of lease liabilities\. The system will need to be compliant with the requirements of the International Financial Reporting Standard 16 \(IFRS16\) for local authorities\. Awarded via G-Cloud 13\.

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## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/cc7bafac-a94a-4d62-8152-c0057ab7a523-798898)