Netgain has announced expanded support for businesses across the UK and Ireland in advance of upcoming changes to lease accounting under the updated Financial Reporting Standard (FRS) 102.
The revised standard, which takes effect for reporting periods beginning 1 January 2026, introduces new requirements similar to those under International Financial Reporting Standard (IFRS) 16.
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While larger organisations have already implemented IFRS 16 compliance systems, many small and medium-sized enterprises in the UK and Ireland will face comparable challenges for the first time under FRS 102.
According to Netgain, many of these businesses lack the capacity for manual compliance processes or the resources to implement enterprise-scale software.
Netgain’s lease accounting platform, NetLease, is positioned to address these needs by automating the classification, calculation, and reporting of leases. The company said the tool helps reduce compliance risk and removes reliance on spreadsheet-based workflows.
“Businesses that are under scope of FRS 102 in the UK and Ireland can’t afford to wait until the end of 2026 to prepare,” said Weston Lampe, CPA and General Manager at Netgain. He added that NetLease had already been “tested through IFRS 16 adoption” and was currently being used by UK businesses preparing for the new reporting standard.
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By GlobalDataNetgain stated that NetLease offers audit-ready reporting and automated workflows for amortisation schedules and lease disclosures. The software also integrates with enterprise resource planning systems by exporting journal entries in Excel format.
“Complying with FRS 102 doesn’t have to be a burden,” said Braden Bronson, Product Manager for NetLease. He noted that the software “was designed to automate complexity so accounting teams can spend less time chasing spreadsheets and more time focusing on growth.”
