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A Step-by-Step Guide to Determining SaaS Cost Per Employee

As businesses increasingly rely on Software as a Service (SaaS) applications, understanding the costs associated with these subscriptions is essential to effective budgeting and financial management. Ahead of budget season, one significant metric to consider is the...

Transforming User Lifecycle Management to Unlock Efficiency

Software is now one of companies’ top three expenses, along with real estate and people, due to the explosion of businesses' software usage over the last decade. This has made user lifecycle management (ULM) more critical than ever. ULM is the process of managing user...

Preparing for Budget Season: How a Mid-Year SaaS Review Can Help

Want to ensure a smoother budget season? Conduct a mid-year review to take better control of your technology expenditures. SaaS spending can greatly impact a company's bottom line, which should make SaaS cost management an important item on the controller's to-do...

Software Contract Management: Driving Efficiency for Businesses

Software has become the backbone of modern business, but along with its many benefits comes licenses, subscriptions, and service agreements to manage. The proactive management of software contracts is a pivotal task for IT and finance professionals at forward-thinking...

Unlocking the Power of Lease Accounting Data: A Guide for FP&A

Financial Planning & Analysis (FP&A) plays a crucial role as a strategic partner to the business, utilizing financial analysis and forecasting to help guide decision-making. Their responsibilities include drafting budgets and forecasts, optimizing the...

How IT Teams Can Take on SaaS Management Challenges

SaaS applications are easy to acquire and use, creating major headaches for anyone responsible for managing them. IT departments are already short-staffed, and keeping up with a growing number of software subscriptions requires a constant effort. If you aren’t aware...

What Is SaaS Sprawl and What Can You Do About It?

SaaS sprawl has quickly become a serious problem for most businesses. It eats away at the bottom line, creates confusion for software users, and increases cybersecurity risks. As companies adopt more software to solve complex problems, they need to take a proactive...

Bonds Payable: Understanding the Basics of Accounting for Bonds

1. What are bonds payable? Interest in bonds Discount vs. premium Issuance costs 2. Bonds payable accounting Amortization of the discount or premium 3. Summary 4. Related articlesWhen an organization requires additional funds, a common action is to borrow money from a...

Software Subscriptions vs. Licenses: Differences, Benefits, & More

If you’ve bought software in the last ten years, it was probably with a subscription. Wondering how the subscription model differs from the old way of buying software? Here’s an overview of the two common software purchasing models, how subscriptions came to dominate...

November 2023 Accounting Tech Summit Recap

Recently, LeaseQuery hosted a virtual summit highlighting current challenges and frequently asked questions regarding technology and the accounting industry. At the free CPE event, over 750 attendees heard accounting and finance thought leaders discuss their...

Our Recipe For The Perfect SaaS Spend Management Strategy

The holiday season is here, and everyone is focused on the delicious food being prepared for Thanksgiving day. While you might have the perfect pumpkin pie recipe, we have the perfect recipe to manage your SaaS spending this fall. SaaS management strategy ingredients...

There’s Still Time to Improve Your Lease Accounting

For many organizations, audit season is approaching. This means this is a great time to reassess your current processes and policies for lease accounting. Your organization may have only gone through one or a couple of audits after adopting ASC 842. Post-adoption, new...

What Is Shadow IT? How Do You Deal With It?

1. What is shadow IT? Shadow IT examples 2. Shadow IT risks Wasted investments Lack of visibility and control Security gaps and data leakage Compliance issues 3. Why do people use shadow IT? High employee satisfaction Individual productivity 4. Best practices for...

Do You Know How Much Your Company Spends on Software?

1. Why software costs can be hard to pin down Lack of planning and organization Unclear lines of accountability 2. The cost of inadequate SaaS spend management 3. Who should worry about hidden software costs? 4. How SaaS spend management enables you to take control of...

Software License Audits and Why You Need One

1. What is a software license audit and why is it important? 2. Benefits of performing a software license audit Maintain software quality Remove unused licenses Improve business operations Create a better software budget 3. How to prepare for your software audit...

What Are Zombie Accounts and How Do You Fix Them?

The average employee uses nine apps per day for work. What happens to their accounts when they leave the company or switch teams? In many cases, they turn into zombie accounts. What are zombie accounts? When an account hasn’t been used for an extended period, it...

Software License Types, Examples, Management, & More Explained

1. Software licenses explained 2. How do software licenses work? 3. Why are software licenses important? Why are EULAs important? 4. Software licenses vs. SaaS 5. What are the 5 types of software licenses? Public domain license GNU lesser general public license...

Tips to Ace Your ASC 842 Audit

Summer is winding down, and it’s time for students to head back to school. While your children are in the classroom this fall, you can brush up on your lease accounting and post-transition audit knowledge. This blog combines recent survey data and LeaseQuery tools to...

LeaseQuery Named to Inc. 5000 for a 4th Consecutive Year

With a three-year revenue growth of 107 percent, LeaseQuery ranks among America’s Fastest-Growing Private Companies ATLANTA - August 17, 2023 – Inc. revealed that LeaseQuery is included on the 2023 Inc. 5000, its annual list of the fastest-growing private companies in...

LeaseQuery to Provide Services to BDO Alliance USA

The company's top-tier lease accounting solution will be available to growing businesses and professional services firms ATLANTA - July 28, 2023 - LeaseQuery, a leading provider of software built to simplify the complexities of accounting, today announced the company...

2023 Accounting Tech Summit: Valuable Insights

LeaseQuery recently conducted a free virtual event to help accountants identify how technology can aid in a variety of accounting tasks and transformations. Over 750 event attendees heard accounting experts discuss how technology impacts day-to-day accounting tasks...

LeaseQuery Recognized by SIIA as Best Compliance Solution

LeaseQuery earns prestigious industry recognition for a second consecutive year ATLANTA, GA (June 27, 2023) – LeaseQuery, a fast-growing provider of software built to simplify the complexities of accounting,  was named the best Best Compliance Solution of 2023 as part...

Helping Your Accounting Team Succeed on NetSuite

Guest post article by Anchor GroupNetSuite, in its simplest form, is an accounting software. Every NetSuite implementation is different, and switching over to NetSuite ERP can affect every area of an organization, from manufacturing to warehouse operations, CRM, sales...

LeaseQuery Names Justin Smith as Chief Financial Officer

Goldman Sachs executive brings deep financial advisory experience with software technology companies. ATLANTA — May 9, 2023 —LeaseQuery, a leading provider of lease accounting software, has hired Justin Smith to serve as chief financial officer (CFO). Justin brings...

Related Party Leases under ASC 842: Review of the Accounting Changes

Update to ASC 842 for Common Control Arrangements Common control leasing arrangements are frequent among private companies for various reasons, including tax planning and legal liability. However, private companies have found applying ASC 842 to these types of leases...

March 2023 LeaseQuery GASB Summit: Key Insights

March 2023 LeaseQuery GASB Summit: Key Insights On March 23, LeaseQuery hosted another virtual GASB Summit, during which accounting experts explored the new GASB lease accounting standards, GASB 87 and GASB 96. Over 840 attendees of the free CPE event heard speakers...

What Are Fixed Assets? Fixed Assets in Accounting Explained

1. What are fixed assets? 2. What are the three types of fixed assets? 3. What are some examples of fixed assets? 4. How do you account for fixed assets? 5. How do you calculate fixed assets? 6. What are the advantages of fixed assets? 7. What are the disadvantages of...

SaaS Spend Management Explained and Best Practices

The swift rise of the remote workforce moved a significant amount of technology to the digital cloud. If your organization uses software applications, you’re likely using Software as a Service (SaaS). While the IT department should keep tabs on these contracts, they...

Signs It’s Time to Break Up With Your Lease Accounting Software

With Valentine’s Day this month, love is in the air. And with love comes heartbreak. Breakups don’t just apply to relationships. They can also apply to professional partnerships. Some companies may have selected a lease accounting solution without considering the...

2022 Year In Review

LeaseQuery was busy in 2022! After two years of uncertainty due to the pandemic, we are thrilled to be hosting in-office events again. With 138 new employees on the team, we are ready to hit new milestones as we continue to grow into 2023. Thanks to the hard work of...

LeaseQuery Reports Record Growth in 2022

ATL-based accounting technology provider broadened product offerings, resources and client roster exponentially throughout the past year ATLANTA - February 1, 2023 - LeaseQuery, a leading provider of software built to simplify the complexities of accounting, today...

How to Keep Your Accounting Team Happy in 2023

According to a recent article from the Wall Street Journal, over 300,000 U.S. accountants and auditors have left their jobs in the past two years. The number of college students coming into the field isn’t enough to fill the missing positions. January is a tough time...

The Accountants Gift Guide – Tech Wishlist

LeaseQuery recently asked over 200 accountants what technology they need to gain efficiencies and optimize workflow. Our Annual Accountants Survey: Top Challenges & Tech Wishlist provides insights into the ways the accounting industry views and uses technology....

Don’t Ghost The New Accounting Standards

Are you afraid of the looming accounting standards? ASC 842, GASB 87, and GASB 96 may be frightening, but ghosting them isn’t the right answer. At some point, you have to approach compliance head on. While you should beware of the repercussions of noncompliance, there...

September 2022 Accounting Tech Summit Recap

September 2022 Accounting Tech Summit Recap LeaseQuery recently hosted a successful summit highlighting current challenges and frequently asked questions regarding technology and the accounting industry. At the free virtual event, over 728 attendees heard accounting...

LeaseQuery Continues to Invest in the Public Sector

Accounting technology company places keen emphasis on supporting public organizations to achieve lease accounting compliance ATLANTA, September 8, 2022 - LeaseQuery, a leading provider of software built to simplify the complexities of accounting, today reported its...

LeaseQuery Channel Partner Program Achieves 287 Percent Growth

Leading lease accounting technology provider further accelerates growth, gearing up for LEASE Summit Road Show ATLANTA - August 4, 2022 - LeaseQuery, a leading provider of software built to simplify the complexities of accounting, today announced the expansive growth...

Dive Into Day Two Lease Accounting

Summer is in full swing. The sun is out, the air is hot, and the pool is finally open. While vacations and pool parties are on everyone’s mind, this summer also means companies who completed their transition to ASC 842 are ready to make a splash into day two lease...

LeaseQuery Achieves ‘Built for NetSuite’ Status

New SuiteApp for lease accounting meets Oracle NetSuite SuiteCloud Platform development standards and best practices ATLANTA – June 21, 2022 — LeaseQuery, a leading provider of lease accounting software, today announced that its lease accounting product, LeaseQuery...

LeaseQuery Recognized by SIIA as Best FinTech Solution

LeaseQuery Earns Prestigious Industry Recognition ATLANTA – June 13, 2022 — LeaseQuery, a leading provider of software built to simplify the complexities of accounting, has been named the best FinTech Solution of 2022 as part of the annual SIIA CODiE Awards. The CODiE...

LeaseQuery Appears on the 2022 Georgia Fast 40 List

Organizations also managing increase in lease liabilities following ASC 842 lease accounting transition ATLANTA – June 8, 2022 — LeaseQuery, a leading provider of software built to simplify the complexities of accounting, today announced its recognition as one of the...

Initial Direct Costs under ASC 842 Explained: Summary, Full Example

1. What are initial direct costs? Definition of initial direct costs ASC 840 treatment of initial direct costs 2. Initial direct costs under ASC 842 What changed? Accounting treatment under ASC 842 3. Example: Initial direct costs under ASC 842 4. Summary 5. Related...

May 2022 FASB LEASE Summit: Important Lease Accounting Insights

On May 12, LeaseQuery hosted another virtual LEASE summit, The FASB Series, during which accounting experts explored the new FASB lease accounting standard, ASC 842. Over 700 attendees of the free CPE event heard speakers from LeaseQuery, DHG, Riveron, Grant Thornton,...

LeaseQuery Announces Completion of SOC 1 Type 2 Examination

Report demonstrates LeaseQuery’s commitment as a safe and secure software solution. ATLANTA – May 19, 2022 — LeaseQuery, a leading provider of software built to simplify the complexities of accounting, today announced its completion of the SOC 1 Type 2 Examination...

LeaseQuery Forms New Reseller Partnership With Cherry Bekaert

Collaboration between highest-ranking lease accounting software provider and national accounting firm gives Cherry Bekaert clients a top-rated technology choice for lease accounting excellence ATLANTA – May 17, 2022 — LeaseQuery, a leading provider of software built...

LeaseQuery Named 2022 SIIA CODiE Award Finalist in FinTech Category

LeaseQuery’s core lease accounting solution earns nod from industry leaders ATLANTA – April 26, 2022 — LeaseQuery, a leading provider of software built to simplify the complexities of accounting, announced today that its core lease accounting platform, LeaseQuery, was...

CEO George Azih Featured in The Sage Thought Leadership Podcast

George Azih discusses his passion for making accountants’ lives easier using software ATLANTA – April 8, 2022 — LeaseQuery, a leading provider of software built to simplify the complexities of accounting, today announced the release of an episode of...

LeaseQuery Announces Key Appointments to Executive Team

Leading accounting technology provider expands executive leadership team to support exponential business and product growth ATLANTA – February 9, 2022 — LeaseQuery, a leading provider of software built to simplify the complexities of accounting, today announced...

LeaseQuery Announces Completion of SOC 1 Type 2 Examination

ATL-based LeaseQuery expanded product offerings, resources, client roster exponentially in the past year ATLANTA – February 2, 2022 — LeaseQuery, a leading provider of software built to simplify the complexities of accounting, today announced its completion of the SOC...

LeaseQuery Reports Tremendous Growth in 2021

ATL-based LeaseQuery expanded product offerings, resources, client roster exponentially in the past year ATLANTA – January 26, 2022 — LeaseQuery, a leading provider of software built to simplify the complexities of accounting, today announced that it surpassed 2,000...

2021 Infographic: A LeaseQuery Year in Review

Much like the previous year, one of our top priorities for 2021 was maintaining the health of both our LeaseQuery employees and our customers. Despite the uncertainty the past year, LeaseQuery continued to work hard throughout the challenges of navigating a pandemic,...

How To Convince Your Board You Need a GASB Software Solution

1. Explore the pitfalls of Excel 2. Justify the investment Increased efficiency Comprehensive reporting Audit preparedness 3. Prevent employees from experiencing burnout 4. Summary 5. Related articlesWhether you’re adopting GASB 87 or GASB 96, transitioning to the new...

The Ultimate GASB Gift Guide

With the first GASB 87 effective date behind us and GASB 96 ahead of us, we’re walking in a GASB wonderland. Just like holiday shopping, it can be stressful to hunt down the perfect GASB resources for your organization. The accounting experts at LeaseQuery have...

Benefits of Lease Accounting Software for Dual-Filers

The new lease accounting standards are nuanced regardless of which one you apply. Having to account for your leases under two separate standards only increases the complexities. Dual-filers face challenges single filers do not have to consider. With the right lease...

GASB 87 for Higher Education: What You Need to Know for Compliance

With the first semester of the 2021-2022 school year barreling to a close and annual reporting in the rearview mirror, it’s time to look ahead to the next big accounting project – GASB 87 compliance. The new guidance replaces lease accounting rules covered by GASB 13...

Don’t Let the New Lease Accounting Standards Spook You

Transitioning to ASC 842 can be scary. The new standards are starting to spook private organizations as they begin the implementation process. The good news is, you don’t have to navigate the unknown alone. Every good team, like the Ghostbusters or Scooby-Doo and the...

How to Transition to ASC 842: A Step-by-Step Guide

1. Are you prepared? What are the keys to a successful transition? 2. Understanding your lease portfolio 3. Summary 4. Related articlesThe ASC 842 deadline is rapidly approaching. Private companies and not-for-profit entities adopting the new standard need to prepare...

LeaseQuery Launches New Podcast Series, ‘Accountant’s Angle’

LeaseQuery taps the expertise of 30+ accountants on staff for industry resource, insights ATLANTA – September 8, 2021 — LeaseQuery, a leading provider of purpose-built software for complex accounting, today announced the launch of Accountant’s Angle: Ask The...

The Benefits of Early Adoption of ASC 842 and GASB 87

The new lease accounting standards are coming whether you’re ready for them or not. Preparing to adopt GASB 87 and ASC 842 is a formidable endeavor. While many public companies have already undergone the process, private companies are still in the midst of the...

How to Account for Leases under IFRS 16 for Small Businesses

Under IFRS 16 Leases, the new lease accounting standard that replaced IAS 17, companies are required to report all leases with terms longer than 12 months on their balance sheets, with some exceptions, and disclose more details about their lease obligations. Even for...

Lease Accounting Transition Advice from the Experts

Private companies are either in the process of implementing the new lease accounting standard, ASC 842, or they are preparing for the transition. With the shift to the new standard comes a lot of questions. We gathered a few LeaseQuery accountants who have traveled...

Five Tips for Small Business Lease Accounting

After much delay, the compliance deadline for the new lease accounting rules is fast approaching. The new rules call for a significant change in the way companies account for their leases. All leases with terms longer than 12 months are going on the balance sheet, the...

How to Find the Best Lease Management Software

If you’re in the market for a lease administration tool to help manage your leases, you’ve probably come across several options. How do you decide which lease management software is the best option for you and your company? In this article, we’ll discuss some of the...

LeaseQuery Application Certified by Acumatica

LeaseQuery is recognized as an “Acumatica-Certified Application” by the cloud ERP company, signifying an integration that will simplify lease accounting, maximize time savings and eliminate the substantial errors found in spreadsheets ATLANTA – April 14, 2021 —...

Accounting for Loss from Equity Method Investments

1. Equity method 2. Loss from equity method investments Example of accounting for equity method losses in excess of investment 3. Summary 4. Related articlesThis article is part of a series of articles covering equity method accounting in accordance with ASC 323...

Lease Accounting on the CPA Exam: Changes & What You Need to Know

1. Lease accounting changes Balance sheet recognition Lease costs and variable payments Lease classification Financial statement disclosures Lease vs. buy 2. Miscellaneous changes SOC reports Business process Data analytics Administrative 3. Summary 4. Related...

GASB 87 Lessor Accounting Example with Journal Entries

1. Lessee vs lessor accounting 2. Lessor accounting under GASB 87 An example of lessor accounting for a lease under GASB 87 3. GASB 87 RFP Template 4. Summary 5. Related articlesLessee vs lessor accounting Government entity lessees reporting under GASB are required to...

2020 Infographic: A LeaseQuery Year in Review

Although 2020 was a scary, unprecedented year for so many, LeaseQuery stayed on the course, putting our best foot forward for the integrity of ourselves, our customers, our partners, and our business. Our top priority in 2020 quickly shifted to ensuring the health and...

Financial Statement Audits for Leases: Assessing Risks and Controls

1. Assessing risks and controls Process documentation Internal control design for ASC 842 Assessing risks and controls With the implementation of the new lease accounting standard, ASC 842, new financial statement and process risks emerge for private companies. As...

ASC 350-40: Internal-Use Software Accounting & Capitalization

1. FASB internal-use software standard 2. Effective date of ASC 350-40 3. The need for clarity Capitalizable vs. non-capitalizable 4. Updates to ASC 350-40 Capitalizable vs. non-capitalizable software costs 5. Initial measurement and subsequent measurement Initial...

How to Calculate Interest Rate Implicit in the Lease for GASB 87

1. What is the implicit rate under GASB 87? Implicit rate: Understanding GASB 87 vs ASC 842 Example of calculating the rate implicit in the lease Validating the rate implicit in the lease 2. Summary 3. Related articlesUnder GASB Statement No. 87, Leases, the majority...

LeaseQuery Honored by Goldman Sachs for Entrepreneurship

George Azih, CEO and Founder Among 100 Most Intriguing Entrepreneurs at 2020 Builders + Innovators Summit ATLANTA - October 14, 2020 -Goldman Sachs (NYSE:GS) is recognizing LeaseQuery’s CEO and founder, George Azih as one of the 100 Most Intriguing Entrepreneurs of...

How to Account for Partial Lease Terminations

1. Is it a termination? 2. How to account for a termination Reassessing classification Remeasuring the lease liability Remeasuring the right-of-use asset 3. Partial termination accounting with example Approach 1: Proportionate change in the lease liability Approach 2:...

Managing Remote Employees in Accounting Successfully

This article was written in collaboration with LeaseQuery’s partner in easing the burden of lease accounting and closing the books efficiently, FloQast. Whether it’s ensuring compliance, completing an audit or closing the books at month’s end, tight deadlines are all...

ASC 842 Disclosure Requirements: Example and Explanation

1. A focus on quantitative disclosures for lessees 2. Why software makes generating disclosures more accurate and efficient 3. Looking at quantitative disclosures in four “buckets” Lease costs Other information Weighted averages Maturity analysis 4. Related...

CEO & Founder, George Azih Leadership Profile

The path to the Aha! moment If it weren’t for the financial crisis in 2008, LeaseQuery may not exist. The crisis led LeaseQuery’s CEO and Founder, George Azih, to take a role in accounting research at a Fortune 500. It was a good job, but it was personally...

GASB 62 to GASB 87 – Eight Tips to Ease the Transition

This article was written in collaboration with LeaseQuery’s partner in easing the burden of lease accounting, Postlethwaite & Netterville (P&N). While the lease accounting delay for private companies and nonprofits may have been welcomed with open arms, it...

LeaseQuery Announces $40 Million in Series A Funding

LeaseQuery, one of the largest providers of purpose-built lease accounting software, today announced that Goldman Sachs’ Merchant Banking Division has invested $40 million in the company through Series A funding. More than 10,000 accountants across public, private,...

Audit Procedures for Leases under ASC 842

This article was written in collaboration with LeaseQuery’s valued partner, LBMC. For more information on LeaseQuery partnerships, please visit our partner page. Whether internal or external, auditors can play key roles during the adoption of ASC 842. Internal audit...

GASB 87 vs ASC 842: Five Differences from a Lessee’s Perspective

There has been a lot of material in the marketplace about the new lease standards. Up until this point, the majority of this has been focused on the new FASB guidance, ASC 842. For individuals at organizations that have been following some of the ASC 842 requirements,...

LeaseQuery Adds Veteran Joe Schab as Chief Operating Officer

ATLANTA, June 6, 2019 – LeaseQuery, one of the fastest growing technology companies in Atlanta, and a leading provider of software for lease management and lease accounting, has announced that Joe Schab has joined the company as Chief Operating Officer. Schab will be...

LeaseQuery Named a Top 40 Innovative Technology Company

Technology Association of Georgia Honors 40 Companies for Innovation and Contributions to the State's Technology Community ATLANTA -- January, 30, 2019-- The Technology Association of Georgia (TAG), the state’s leading association dedicated to the promotion and...

Encoursa and LeaseQuery Announce Lease Accounting Survey Results

October 26, 2018 — With the effective date of the new lease accounting standards less than two months away for many companies, Encoursa, in partnership with LeaseQuery, conducted a survey to understand the progress accountants are making towards adoption. “The survey...

LeaseQuery Named as One of Atlanta’s Best Places to Work

ATLANTA -- LeaseQuery, the fastest growing technology company in Atlanta and leading provider of comprehensive lease accounting software, has been named one of Atlanta’s Best Places to Work by the Atlanta Business Chronicle. LeaseQuery ranked 12th in the medium-sized...