FRS 102 - 2026 Pricing, Features, Reviews & Alternatives

House of Control FRS one zero two Software is a specialized lease accounting solution designed to ensure compliance with FRS one zero two Section Twenty under UK GAAP standards. The platform addresses the revised lease accounting requirements that became effective from the first of January two thousand twenty six and mandate that most leases be recognised on the balance sheet. The cloud based environment replaces spreadsheet based processes with structured automation while maintaining accurate financial reporting and balance sheet compliance. The solution is provided by Visma and serves finance teams, contract managers and auditors within organisations subject to FRS one zero two reporting requirements.

The software performs system driven calculations for right of use assets, lease liabilities and interest expenses to eliminate manual computation errors. Dynamic adjustment features automatically handle CPI linked remeasurements, lease extensions and contract modifications without manual intervention. Configurable data extraction parameters enable exports of reports by month, quarter or year for individual entities or consolidated group reporting. Period locking functionality prevents unauthorised changes to completed accounting periods to maintain data integrity.

The centralised contract repository stores all lease agreements in a secure cloud environment with structured data organisation for fast retrieval. Access control features support group based permission management while comprehensive audit trails log each change with timestamps and user details for transparent record keeping. The disclosure compliance module generates FRS one zero two reports with single click functionality, including maturity analysis for both capitalised contracts and exemptions, transition data with weighted average discount rates for implementation disclosure notes and exemption reporting for short term or low value leases. The platform supports the obtainable borrowing rate methodology in line with FRS one zero two and calculates transition adjustments required under the regulatory changes effective from two thousand twenty six.

Integration capabilities via an open application programming interface enable seamless connectivity with existing financial systems to streamline workflows and reduce duplicate data entry. Customer data is stored in AWS data centres located in London with security infrastructure based on ISO two seven zero zero one certification, full GDPR compliance and independently verified ISAE three four zero two Type two assurance standards. The solution is specifically configured for FRS one zero two Section Twenty requirements rather than IFRS one six and aligns calculations, reports and outputs to UK GAAP without manual adjustments.