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Ind AS 116 Lease Schedule Generator
Enter the lease terms to get the lease liability and right-of-use asset at commencement, the initial journal entry, a month-by-month interest and depreciation schedule, and a financial-year summary with the current and non-current split.
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At commencement
- Lease liability
- Right-of-use asset
- Total payments
- Total interest
- Monthly rate used
Initial recognition entry
| Account | Debit (₹) | Credit (₹) |
|---|
Financial-year summary
Current liability is the principal that will be repaid in the next 12 months after each year end.
| Year | Payments | Interest | Depreciation | Closing liability | Current | Non-current | ROU NBV |
|---|
Monthly schedule
| Month | Month ending | Opening | Interest | Payment | Closing | Depreciation | ROU NBV |
|---|
Method and assumptions
- The lease liability is the present value of the payments not yet made at commencement, discounted at the rate you enter (Ind AS 116, para 26). The annual rate is converted to an equivalent monthly rate: (1 + annual rate)1/12 − 1.
- The right-of-use asset is the lease liability plus payments made on or before commencement, plus initial direct costs and restoration costs, less lease incentives received (para 24).
- Interest is charged each month on the opening liability (effective interest method). The right-of-use asset is depreciated on a straight-line basis over the lease term, assuming ownership does not transfer.
- Escalation is applied as a step-up every chosen number of months, compounding on the previous rent.
- Not covered: variable payments, lease modifications, remeasurements, short-term and low-value exemptions, and deferred tax. Adjust for these separately.
For computation assistance only; not a substitute for formal statutory audit or professional accounting advice. Check the inputs and results against the lease agreement and your accounting policies before use.