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LeaseQuery is trusted by 8000+ organizations to simplify lease accounting for ASC 842, IFRS 16, and GASB 87. With amortization schedules, journal entries, and all required quantitative disclosure reports, LeaseQuery automates lessee accounting for any lease including vehicles, equipment & real estate. Our market leading, award winning software helps accountants work efficiently with AI assisted lease entry, CPA-approved calculations, view only auditor access, and industry-leading support. LeaseQuery integrates with any ERP and has a version built in NetSuite. Built by accountants for accountants, LeaseQuery makes it easy to comply with confidence.
Provider
FinQuery
Located In
United States
Foundation
2001
Open API
Yes
Deployment
Cloud, SaaS, Web-Based
Training
Live Online, Documentation, In Person, Webinars, Videos
Support
Chat, Email/Help Desk, Phone Support, FAQs/Forum, Knowledge Base
Entities that must comply with ASC 842, IFRS 16, & GASB 87. Lessees reporting under US GAAP & IFRS and lessees & lessors under GASB use our accountant designed software to simplify lease accounting.
Content Source: LeaseQuery
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LeaseQuery Reviews
Pros
Our experience with LeaseQuery throughout the implementation of the new lease standard has been outstanding.
They are adding features that are relevant and useful, I have had less issues with the system and support has assisted me much quicker when I have issues. I am overall pleased with LeaseQuery.
LeaseQuery has been a fabulous tool for our company. From the beginning, the LeaseQuery team has provided a quality product and excellent support.
Overall, so far very happy with LQ, especially with Customer Service which has been a very helpful resource any time a question surfaces - big or small.
Cons
Since our leases were entered before the new standard adoption many changes have been made to the system which makes the older leases a little tricky to update.
It is hard to find something I dislike about the software.
We also realized that a few vendors were charging us the wrong rent amount.
George, with LeaseQuery, read all of our leases and put the information into LeaseQuery for NO additional cost.
"Effective and user-friendly solution for Lease Accounting "
Overall: We have had a smooth encounter with LeaseQuery since we started using it. What is outstanding is effectively and timely support from their support team. At the beginning we have some issues with some features but their support team helped to settle in time and collaborated with their technical team to customize some features to fit our needs but yet still following the new revised accounting standards.
Pros: I like LeaseQuery's reporting features and how it's customizable to specific individual company needs. It can easily be integrated with many softwares. It has the best data security which is key and an easy user-friendly interface good for both beginners and experts. It also has great accounting features.
Cons: It's not easy to adjust certain information after approval. You will be require to re-enter the information again.
"Incredibly intuitive and user-centric — perfect for Lease Accounting requirements"
Overall: Our experience with LeaseQuery throughout the implementation of the new lease standard has been outstanding. While we encountered some initial challenges, which is par for the course with the introduction of new software and the adoption of a revised accounting standard, the team exhibited exceptional proficiency, responsiveness, and collaboration. Their expertise and timely support played a crucial role in facilitating a smooth and manageable transition.
Pros: We opted for this software due to its tailor-made and pre-established reporting features, specifically honed for lease management. Its alert system and seamless integration with any ERP system render it effortlessly comprehensible, adhering to a coherent design philosophy. Data security remains paramount, with adaptable validation processes. The interface is polished, boasting top-notch graphics and a location mapping feature that enhances usability. Reports, alerts, and expenses are easily accessible and comprehensible, fostering a sense of confidence in navigating the program. The software's accounting capabilities are robust, simplifying calculations and lease component evaluations. Notably, it incorporates comprehensive international lease standards, adding practicality and security to its repertoire.
Cons: Making adjustments to certain lease attributes after approval can be somewhat burdensome, as the tool mandates users to input these characteristics again rather than facilitating modifications to specific fields.
"Review for LeaseQuery"
Overall: Application has been ideal for our needs since setup, streamling processes and improving efficiecy.
Pros: Ireally like how leasequery reporting can be customized for any busines, it easily integrates with different software, has a friendly interface both beginners and experts and esnures data security. It also offers great accounting features.
Cons: So many features and options it can feel overwhelming at first.
"LQ Review"
Pros: We rely on reporting to determine ROU and LL. I really enjoy our CSM who is very helpful.
Cons: Some of the reports require a lot of effort to create.
"Ease out your Lease accounting "
Pros: While I might be repeating myself, UI & UX is a standout. I actually had a couple of issues and reached out to their support and it was amazing how much care they took into solving my issues rightaway
Cons: Not really a Con, but I'm curious to see how they are going to venture into the AI space and add that to the Arsenal. AI could be very interesting our space.
