MILWAUKEE, July 14, 2026 (GLOBE NEWSWIRE) — Crunchafi, a global provider of accounting software for accountancy firms and finance teams, today launches FRS 102 Section 20 lease accounting support for the UK and Ireland.
The revised FRS 102 standard, effective for accounting periods beginning on or after 1 January 2026, represents one of the most significant changes to UK and Irish lease accounting in decades. For many entities, leases that historically remained off the balance sheet must now be recognised through right-of-use assets and lease liabilities, introducing new calculation, reporting and disclosure requirements. Six months into adoption, many chartered accountancy firms are still managing the transition across live client books, often using spreadsheets that were never designed for right-of-use assets, roll forwards or the disclosure requirements of the revised standard.
The operational burden is especially significant on firms managing FRS 102 across dozens or hundreds of client entities at once. Embedded leases, discount rate judgements, roll forwards and required disclosures all add hours to every reporting cycle and compound the risk of error in manual workflows.
“We built Crunchafi around what accountancy firms and their clients need from a lease accounting solution: a single place to manage client lease portfolios ranging from one lease to thousands, standardised workflows across the whole firm and user-friendly software that doesn’t require every team member to be an expert in the standard,” says Crunchafi founder Timothy Kohler.
Crunchafi’s FRS 102 Section 20 release is built around the work firms are already doing:
- Automated lease calculations with audit-ready amortisation schedules and journal entries
- Detailed disclosure reports for medium and large entities, plus Section 1A disclosures for small entities
- Right-of-use asset roll forwards by asset class, ready to drop into statutory accounts
- Multi-client architecture with separate reporting entities and consistent calculations across an entire client portfolio
The release enables organisations and firms to standardise lease accounting workflows while reducing reliance on spreadsheets and manual calculations.
Crunchafi is the most widely used lease accounting platform among accountancy firms globally, supporting more chartered firms than any other vendor in the category. Built through years of supporting firms with ASC 842, GASB 87, GASB 94, GASB 96 and IFRS 16 compliance, Crunchafi brings that same lease accounting expertise, standardised workflows and reporting automation to firms navigating the transition to FRS 102 Section 20.
Crunchafi’s FRS 102 Section 20 product is generally available today.
Crunchafi will host the CPD-qualified session “FRS 102 Section 20 Is Effective: What to Do Now” on 22 July 2026 at 3 p.m. BST (10 a.m. EDT). Register here.
About Crunchafi
Crunchafi is a leading provider of cloud-based SaaS products built for accounting and financial professionals. Crunchafi’s solutions simplify lease accounting and data extraction, helping CPA firms work smarter and deliver strategic value faster. Trusted by over 750 firms, Crunchafi combines accuracy, scalability and expert support to power the future of accounting.
Media Contact:
Vicki LaBrosse
Edge Marketing for Crunchafi
vlabrosse@edgemarketinginc.com
