Leasify supports Sweden’s public sector with RKR R5 reporting

Reporting leases and rental agreements under RKR R5 has long been a challenge for many municipalities and regions in Sweden. Leasify now introduces an innovative solution that makes the process easier with automated calculations, ready-made reports, and complete traceability.

Lease accounting for municipalities and regions in Sweden

RKR R5 is the recommendation from the Swedish Council for Municipal Accounting that defines how lease agreements should be reported by municipalities and regions. It requires financial leases to be recorded as both an asset and a liability on the balance sheet, while operating leases are disclosed in the notes with information about future cash flows.

– For many, it’s a manual and time-consuming process where each lease agreement must be analyzed, calculated, and documented in detail. That’s where Leasify comes in, says Richard Nilsson, founder of Leasify.

How can Leasify support RKR R5 reporting?

Leasify is designed to meet the real-world challenges that municipalities and regions face with RKR R5 and make them easy to manage. This means you can trace every figure back to its individual agreement and easily handle adjustments such as changes in lease terms, extensions, or early terminations.

– Leasify indexes according to each agreement’s CPI terms, calculates the actual cost, and separates it from the originally agreed lease payment. This gives you precise values without using standardized estimates that can become highly inaccurate over time, says Richard.

Since agreements may need to be revalued over time, the asset and liability must be adjusted accordingly. This is easily managed in the platform through user-friendly features that handle the complex calculations for you.

And the best part? Everything is gathered in one place – all your agreements, calculations and reports.

– When the platform is maintained continuously, for example when new agreements are added, you can generate a complete annual report in under five minutes, including all the required notes. This allows you to save both time and resources without compromising on quality, Richard says.

Through Leasify, you get highly accurate and reliable calculations of your assets, and you can easily extract the relevant parts for your reporting. This gives you continuous access to both the reporting required for the current period or fiscal year and all the notes you may need for your annual report, such as future cash flows.

With Leasify, municipalities and regions gain access to a modern platform for managing their RKR R5 reporting efficiently and accurately. Whether you are a CFO, accounting manager, or controller, Leasify provides a reliable solution that simplifies your financial closing process.

 Sounds interesting? Contact Leasify today and we’ll tell you more.