Application Features

The accounting setting allows you to toggle compliance with IFRS 16 and ASC 842 accounting standards, as well as integration with Nakisa Lease Accounting Suite:

• Accounting ON - Standard: The accounting team is required to complete accounting information for the contract, lease component, and activation group in Nakisa Lease Accounting Suite. The standard workflow necessitates more involvement from accountants and approvers.
• Accounting ON - Streamlined: The accounting team only needs to complete accounting information at the activation group level in Nakisa Lease Accounting Suite. The streamlined workflow reduces the amount of intervention required from accountants and approvers.

  Note: To use the streamlined mode of operation, application level default values for the Compounding Frequency and Calendar Type fields must be set for each company code in the Admin section of Nakisa Lease Accounting Suite. For more information on how to set default values, refer to the Nakisa Lease Accounting Suite User Guide.

• Accounting OFF: The application runs as a standard real estate solution, without IFRS 16/ASC 842 compliance.

See Modes of Operation for more information on the modes of operation.

This setting can only be enabled when the application is configured as an IFRS 16/ASC 842 compliant solution. When enabled, the accounting page displays a simplified version of the Rent Table where users can specify a cost center and a lease component to be associated to their terms.

API Webhooks allows you to receive messages regarding subscribed entities. This feature must be enabled for you to receive messages and to view the Callback Log.

This setting allows you to set the currency that will be used in all dashboards and reports in Nakisa Portfolio Management. You can add up to five currencies. Note that exchange rates for the currencies must be configured in the Financial Organization Structure for the currency conversion to function properly.

To set the dashboard and report currency, select one or more currencies from the drop down menu, and click Save.

This setting enables formula based percentage rent, and is disabled by default.

This setting enables the AI Lease Abstraction (Beta) feature.

This setting enables the Nakisa AI Dashboard Agent (Beta).

This setting allows users to determine whether their contracts will be created with the Specialized Asset field in Nakisa Lease Accounting Suite set to True. When this setting is set to True, activation groups in Nakisa Lease Accounting Suite have the Specialized Asset field set to True by default.

This setting allows you to send rent term notes to the General Ledger when posting payments.

This setting enables the single form contract creation feature. Single form creation allows you to create a location, premises, and contract at one time on a single page.

This setting allows you to determine what contract activities are shared with partners.

This setting determines whether display IDs for locations, premises, and contracts are generated automatically. If this setting is disabled, the Display ID is a required field when creating objects. Manually entered IDs cannot contain the system-generated prefix "RE-".

This setting enables the following AI agents:

• Location creation
• Location operating cost creation
• Formula percentage rent
• Picklist

This setting enables the Market Data AI agent in the premises header.