Finance record
Lease register, rental terms, schedules, liability and ROU records, payments, modifications and review history.
The operating question
Can the lease register answer what happened to the asset?
Large enterprises often receive valid contracts and schedules from several lessors while maintaining separate procurement, asset and field records. The control problem appears when finance needs to reconcile those records across thousands of hand-offs.
Which physical assets support each lease and schedule?
Where is each asset, who has custody, and when was it last verified?
Which payment, modification, renewal or return needs action?
Can finance and audit reconstruct the evidence without chasing several teams?
Connected workflow
Follow one leased asset through the enterprise
- 01
Approve
Capture demand, budget, specifications, location and accountable approvers.
- 02
Acquire
Connect lessor, vendor, PO, invoice, delivery and commercial terms.
- 03
Recognise
Maintain the agreed lease, liability, ROU, payment and supporting records.
- 04
Operate
Track placement, custody, condition, movements, verification and exceptions.
- 05
Close
Control renewal, return, exchange, buyout, recovery or retirement.
Connected records
One record, several responsible teams
Asset record
Make, model, serial number, ERP number, condition, location, custodian and lifecycle status.
Procurement evidence
Requirement, approval, PO, vendor, invoice, GRN, delivery and acceptance evidence.
Field evidence
QR or barcode identification, photos, GPS where configured, condition, signature and exceptions.
Movement record
Source, destination, custody, transporter, receipt and supporting movement documents.
End-term decision
Commercial terms, condition, approvals, lessor coordination and proof of completion.
Illustrative example
A freezer placed at a retail outlet
The lease schedule is useful to finance. The serial number, outlet, custodian, condition and last verification are useful to operations. ServiceTiket keeps those views attached to the same asset and obligation.
Illustrative workflow. Customer names, values and performance claims are intentionally excluded.
AcquisitionApproval → PO → invoice → GRN
FinanceLease → schedule → payment record
OperationsPlacement → audit → movement
End termReturn, exchange or buyout
Business value
What the organisation gains
Less reconciliation
Keep finance, asset and field records connected instead of rebuilding the relationship at every review.
Earlier exceptions
Surface missing evidence, unverified assets, payment differences and overdue lifecycle decisions for action.
Clear ownership
Route approvals and exceptions to the right finance, procurement, operations or audit owner.
Scope and responsibility
What the platform supports—and what people decide
ServiceTiket maintains configured records, schedules, approvals and evidence. The organisation and its advisers remain responsible for accounting policy, treatment, review and compliance.
Ind AS 116 is the primary accounting context for the India offering. IFRS 16 or ASC 842 requirements are assessed separately where group reporting requires them.
Calculations, reports, integrations and controls are confirmed during discovery and testing before they are included in an implementation scope.
Continue exploring LeaseOps
A useful first conversation
Map one real asset from contract to field reality
Bring an anonymised lease schedule, asset register, or workflow. We will map where the records separate and what a controlled process could look like.
Request a LeaseOps control assessment