Confirming that systems and models can support the revised requirements under revised UK GAAP (effective for periods beginning on or after 1 January 2026) is an explicit step in any well-run transition. It is also one of the most commonly delayed actions, and leaving it until year-end is a significant risk.

Here are the key questions to ask when preparing for the transition.

Does your general ledger support the lease journals?

Each lease now generates two separate charges: depreciation of the right-of-use (ROU) asset (operating costs) and interest on the lease liability (finance costs). The liability needs to be updated each period for payments made and interest accrued.