Lease accounting & administration / a MYNDX
application
Every lease on your balance sheet, traceable to the clause that put it there.
MYNDLeaseX runs lease accounting and administration end to end: rent and revenue share, escalations, IND AS 116 and IFRS 16 schedules, landlord onboarding and payments. The engine does the arithmetic and keeps every version. Your team keeps the approvals and the sign-off.
- 500+customers on MYNDX applications
- 25+years of MYND behind it
- 99%accuracy, the MYND standard
Rent used to be an expense line. Now it is a balance you defend.
Since IND AS 116 took effect in April 2019, leases sit on the balance sheet as right-of-use assets and lease liabilities. Every escalation, rent-free period and mid-term modification now moves numbers your board signs.
The uncomfortable part is not the arithmetic. It is the walk-through: an auditor picks one right-of-use balance and asks how it was derived, and the answer lives in a spreadsheet only one person can fully explain. MYNDLeaseX turns that walk-through into a query. Every figure on the balance sheet links back to the lease clause, the rate applied and the person who approved it, with each prior version kept on file.
The system was built by MYND, which has spent 25 years running finance operations for 1,000+ enterprises. It automates the computation and the record-keeping; judgment on what gets signed stays where it belongs, with your team.
One lease, restated. Multiply by every location you rent.
Calculations that outgrow formulas
Revenue share with tiers and breakpoints, rent split across multiple landlords, escalation clauses, and modifications that reach back into closed periods. Each lease carries its own rules, and manual formulas bend under them.
Standards that keep score
IND AS 116 and IFRS 16 require present-value calculations, right-of-use asset tracking, monthly actualization and detailed disclosures. The standard does not care how small your finance team is.
Landlords at scale
KYC documents, bank details, payment terms and queries across hundreds of landlords. Every chase over email is time your team does not spend on the numbers.
Rent that shows its working.
Revenue sharing with tiers and breakpoints, multiple landlords, escalations, retrospective changes. MYNDLeaseX computes each rent from the lease terms and keeps the calculation, so any figure can be re-derived on demand.
Revenue sharing. Tiered percentages and breakpoints computed against reported sales, month after month, without a formula for anyone to break.
Multiple landlords. One lease, several owners: the engine splits every rent run, raises separate invoices and keeps a payment schedule per landlord.
Retrospective changes. When terms change mid-term, the engine recomputes every affected period, including closed ones, and raises the differential invoices or credit notes.
Escalation clauses. CPI-linked and stepped escalations applied on schedule, not from memory, with the old and new rates both on record.
Utility bills too. Electricity, water and other operating costs captured against the same locations, so you see total occupancy cost, not just rent.
Compliance kept monthly, not reconstructed at year-end.
MYNDLeaseX maintains lease liabilities, right-of-use assets, depreciation and interest under IND AS 116 and IFRS 16, and actualizes provisions against actual payments every month, so the year-end close inherits twelve reconciled months.
Liability and ROU schedules. Present value at commencement, interest unwinding and depreciation over the term, recomputed automatically when a lease changes.
Monthly actualization. Provisions bridged to actual payments every month, with exceptions queued for review rather than buried in a variance column.
Disclosure reports. The maturity analyses, roll-forwards and expense schedules your financial statements require, prepared from the same data your ledger carries.
The adjacent standards. IND AS 109 treatments and IND AS 104 right-of-use asset lifecycle tracking, covered where they apply to your portfolio.
Audit readiness. Documentation and change history maintained continuously, so an audit request is a lookup, not a project.
Landlords serve themselves. Your approvals stay in charge.
A secure portal where each landlord uploads KYC documents, submits invoices, tracks payments and raises queries directly, instead of through your team's inbox.
KYC and onboarding. Landlords upload their own documents and bank details; validation and reminders run automatically. Onboarding is 80% faster across MYNDLeaseX implementations.
Invoices and payment visibility. Landlords submit invoices online and see upcoming and past payments themselves, which is why implementations record 70% fewer landlord queries reaching the finance team.
Queries with a trail. Questions arrive, get assigned and get answered inside the portal, with the history kept, not scattered across inboxes.
Utility bills on the same rails. Bills submitted, approved through multi-level workflows and allocated across locations and departments.
Your controls, unchanged. Invoices and bills clear your own multi-level approvals and delegation of authority before anything is paid. The portal moves the paperwork, not the decision.
One record of every lease, first visit to final reconciliation.
Lease, property and landlord data live in one place, so the answer to "which version is current?" is the one in the system, with its history attached.
Onboard
Guided data entry with validation, against a centralized property and location master.
Operate
Rent runs, escalations, utility bills and landlord payments, computed and queued on schedule.
Modify
Amendments recorded once, with automatic recalculation of every affected period.
Renew
Automated alerts ahead of renewals and deadlines, with the portfolio data to negotiate from.
Terminate
Exit processed with final reconciliation, deposits settled and the record archived, not deleted.
- L-0311 · Indore18 days
- L-0287 · Kochi32 days
- L-0342 · Jaipur41 days
An executive view. Portfolio-level occupancy cost, obligations and exposure for decision makers, without asking anyone to build a deck first.
Cash flow forecasting. Future rent and lease obligations projected from the actual lease terms, so treasury plans against the portfolio as it is, not as it was last quarter.
Renewals with negotiating room. Alerts arrive early enough to renegotiate, backed by what each location actually costs to occupy.
Custom reports. Build the cuts your reviews need and save them; compliance reports come standard.
Where spreadsheets stop.
Spreadsheets are fine for a handful of simple leases, and we will tell you so. They stop at revenue share, retrospective changes and reliable audit trails. Here is the line, plainly.
| The requirement | In spreadsheets | In MYNDLeaseX |
|---|---|---|
| Revenue share, multiple landlords, retrospective changes | Manual formulas, easy to break and hard to audit | Computed from the lease terms, every working saved |
| IND AS 116, IND AS 109 and IFRS 16 | Schedules rebuilt by hand at every close | Built-in schedules, monthly actualization and IND AS 104 ROU tracking |
| Landlord KYC, invoices and queries | Documents chased one email at a time | Self-service portal with status tracking and reminders |
| Posting to the ERP | Re-keyed by hand, with the errors that follow | Synchronised with SAP, Oracle, Tally, Zoho and 50+ systems |
| The audit trail | Version confusion and no reliable change history | Complete change history, clause to ledger |
| A growing portfolio | Breaks down as leases multiply | Runs portfolios of thousands of leases |
What changes when the engine takes over.
The improvements MYNDLeaseX delivers across a lease portfolio, each one from removing a specific piece of manual work. Your own baseline is where we start.
Live only after it reconciles.
A structured implementation in four phases. Your existing schedules are migrated, validated and reconciled against the engine's output before your team relies on a single number.
Assess and design
We map your lease portfolio, its calculation rules and its reporting requirements before anything is configured.
Migrate and reconcile
Lease data migrated with validation, and the system's schedules reconciled against the ones you have, lease by lease.
Train and hand over
Your team trained on their own portfolio, with change management support until the new routine is the routine.
Roll out in phases
Large portfolios go live entity by entity rather than in one cutover, with optimization and support continuing after go-live.
No rip-and-replace. MYNDLeaseX connects to the SAP, Oracle, Tally and Zoho systems you already run, among 50+ supported systems, with rent, depreciation and interest postings flowing to your general ledger automatically.
Lease accounting FAQs.
The questions finance teams ask before they move their portfolio off spreadsheets.
Ask us yoursDoes MYNDLeaseX cover both IND AS 116 and IFRS 16?
Yes. MYNDLeaseX maintains lease liabilities, right-of-use assets, depreciation and interest schedules under IND AS 116 and IFRS 16, actualizes provisions against actual payments every month, and prepares disclosure reports. IND AS 109 and IND AS 104 treatments are covered where they apply.
What happens when a lease changes mid-term?
You record the modification once against the lease. The engine recomputes every affected period, including closed ones, raises the differential invoices or credit notes, and updates the accounting schedules. Every prior version stays on file, so you can show an auditor exactly what changed, when and why.
Will MYNDLeaseX integrate with our ERP?
Yes. MYNDLeaseX connects to SAP, Oracle, Tally, Zoho and 50+ enterprise systems through pre-built connectors and RESTful APIs. Rent, depreciation and interest postings flow to your general ledger without re-keying.
How does implementation work?
Four phases: needs assessment and solution design, data migration with validation and reconciliation, user training and change management, then a phased rollout with ongoing support. You start relying on the system only after its output reconciles with your existing schedules.
Who approves payments, the system or our team?
Your team. MYNDLeaseX computes the amounts, raises the invoices and queues them for approval. Payments clear through your own multi-level approvals and delegation of authority. The system moves the paperwork, not the decision.
How is our lease and landlord data protected?
MYND maintains ISO 27001 and ISO 27701 certifications. Data is encrypted in transit and at rest, access is role-based, and we comply with India's DPDP Act. Every control is verifiable in our Trust Center at trust.myndsolution.com.
Bring us your three hardest leases.
A revenue-share lease with a breakpoint, one with two landlords, one that changed mid-term. We will configure MYNDLeaseX around them and walk you through the schedules, the postings and the audit trail they produce. And if spreadsheets are still enough for your portfolio, we will tell you that too.
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