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Netgain enhances NetLease for U.K. and Ireland FRS 102 compliance

October 29, 2025

Netgain announced expanded support for businesses in the U.K. and Ireland as they prepare for upcoming lease accounting changes. The new Financial Reporting Standard (FRS) 102 will take effect for reporting periods starting January 1, 2026. Companies are seeking effective solutions to meet these compliance requirements to avoid risks associated with non-compliance.

Previously, only larger firms needed to comply with International Financial Reporting Standard (IFRS) 16, but now small and medium-sized enterprises, which were not under IFRS 16’s scope, face similar challenges under the new FRS 102. Many of these businesses require solutions that do not involve costly manual processes or complex systems. NetLease aims to provide an automated solution suited for any Emergency Response Plan (ERP).

NetLease automates tasks such as lease classification, calculation, and reporting. This automation reduces the risk of errors commonly associated with manual processes. By ensuring access to accurate data, finance teams can expedite their financial closing processes while shifting their focus to strategic analysis.

“Businesses that are under scope of FRS 102 in the U.K. and Ireland can't afford to wait until the end of 2026 to prepare,” said Weston Lampe, CPA, General Manager at Netgain. He noted that NetLease had been tested through the IFRS 16 adoption and is already assisting organizations in preparing for the forthcoming standards.

According to Braden Bronson, Product Manager for NetLease, the solution was designed to simplify compliance responsibilities. He explained that NetLease allows accounting teams to reduce time spent on routine data management, enabling them to concentrate more on growth opportunities.

NetLease’s key features include automated workflows for lease classification and reporting, audit-ready documentation, and compatibility with any ERP system. This features set establishes NetLease as a practical tool for businesses striving for compliance with FRS 102.