LeaseQuery: Cloud-Based Lease Accounting Software
See why LeaseQuery, powered by FinQuery, is the #1 rated lease accounting software by CPAs
- Lease Accounting. Auto-generate error-free amortization schedules, journal entries, and disclosure reports.
- Compliance. Create compliance documents including ASC 842, GASB 87 and 96, IFRS 16, SFFAS 54 and FRS 102.
- Dashboard. Monitor your portfolio from one dashboard. Track payments. Alerts for expiring leases and due dates.
LeaseQuery Features
LeaseQuery simplifies complex accounting for any leased asset and brings all your lease information into
a single, cloud-based subledger that can integrate with any ERP.
CPA-Approved Accounting
- Compliance for ASC 842, IFRS 16, GASB 87, GASB 96 and SFFAS 54.
- SOC 1 Type 2 reports issued bi-annually assessing LeaseQuery’s internal controls over financial reporting.
- More than 40 accountants on staff.
Superior Service
- Daily office hours staffed by certified lease accounting analysts.
- 24/7 access to a frequently updated knowledge base.
- Customer center providing one-stop access to all resources.
- On-demand training webinars.
Compliance Out of the Box
- Journal entries
- Amortization schedules
- All required quantitative disclosures
- Practical expedient application
- Accurate calculations for lease changes
Accounting Intelligence for Complex Scenarios
- Custom calendar
- Embedded lease and lease classification tests
- Multi-currency functionality, including translation and remeasurement
- Dual-standard reporting
- Impairments
- Variable payments
Controls for Data Integrity
- Role-based access
- Audit trail and lease change history
- Data entry validation and duplicate entry prevention
- Locking journal entries
Operational Efficiency
- Critical date reminders
- Central document repository for easy document retrieval
- Read-only auditor access
- Third party integrations with any ERP or GL system
- AI-assisted lease data entry
Robust Reporting
- Over 100 standard reports
- Complex reporting including roll forwards and historical reporting
- Budgeting, forecasting, and AP reports for expense management
- Flexible reporting studio for simple report customization and template creation
- Report scheduling and sharing functionality
Lease Administration
- Automated lease abstracts
- Custom contacts and contact tracking
- Payment, date, and task tracking as well as critical alerts
- Ability to attach documentation to leases
Data Security
- SSL Encryption
- Firewall and application security
- Managed hosting and backup through AWS
One Stop Governmental Solution
- Lessor and Lessee accounting for GASB 87 & SFFAS 54
- GASB 96 compliance module
- Fund accounting
LeaseQuery Features
LeaseQuery simplifies complex accounting for any leased asset and brings all your lease information into
a single, cloud-based subledger that can integrate with any ERP.
CPA-Approved Accounting
- Compliance for ASC 842, IFRS 16, GASB 87, GASB 96 and SFFAS 54.
- SOC 1 Type 2 reports issued bi-annually assessing LeaseQuery’s internal controls over financial reporting.
- More than 40 accountants on staff.
Superior Service
- Daily office hours staffed by certified lease accounting analysts.
- 24/7 access to a frequently updated knowledge base.
- Customer center providing one-stop access to all resources.
- On-demand training webinars.
Compliance Out of the Box
- Journal entries
- Amortization schedules
- All required quantitative disclosures
- Practical expedient application
- Accurate calculations for lease changes
Accounting Intelligence for Complex Scenarios
- Custom calendar
- Embedded lease and lease classification tests
- Multi-currency functionality, including translation and remeasurement
- Dual-standard reporting
- Impairments
- Variable payments
Controls for Data Integrity
- Role-based access
- Audit trail and lease change history
- Data entry validation and duplicate entry prevention
- Locking journal entries
Operational Efficiency
- Critical date reminders
- Central document repository for easy document retrieval
- Read-only auditor access
- Third party integrations with any ERP or GL system
- AI-assisted lease data entry
Robust Reporting
- Over 100 standard reports
- Complex reporting including roll forwards and historical reporting
- Budgeting, forecasting, and AP reports for expense management
- Flexible reporting studio for simple report customization and template creation
- Report scheduling and sharing functionality
Lease Administration
- Automated lease abstracts
- Custom contacts and contact tracking
- Payment, date, and task tracking as well as critical alerts
- Ability to attach documentation to leases
Data Security
- SSL Encryption
- Firewall and application security
- Managed hosting and backup through AWS
One Stop Governmental Solution
- Lessor and Lessee accounting for GASB 87 & SFFAS 54
- GASB 96 compliance module
- Fund accounting
Select Your Standard
ASC 842
IFRS 16
GASB 87
GASB 96
SFFAS 54
FRS 102
We passed our audit with flying colors. Our auditors even said the system was the easiest they had worked with.
Join 8,000+ using FinQuery to save time with confidence
Lease Accounting Software Solutions
Our premier solution and the market leader for lease accounting.
Trusted solution for simplified compliance and reporting for portfolios of 25 and under.
The #1 solution for lease accounting is now built in NetSuite.
Try LeaseGuru for free — our lease accounting software for small lease portfolios.
Features
CPA-Approved Lease Accounting
CPA-approved journal entries, amortization schedules and disclosures for ASC 842, IFRS 16, and GASB 87.
Compliance for Complex Scenarios
Easily handles complex scenarios including dual standard reporting, custom calendar, variable payments, point-in-time reporting, catch-up adjustments and more.
Seamless Transfer
Transferring your leases is easy with bulk upload capabilities, AI-assisted lease entry, and our superior support team working with you to convert, transfer, and reconcile your data.
General Ledger Integrations
Integrate with ANY general ledger including NetSuite, Infor, Acumatica, Sage, Microsoft, SAP, QuickBooks, and Workday. Or use our ledger agnostic journal entries to comply without an integration.
User Friendly
Built by accountants, for accountants to simplify your work life. Features like a frequently updated help center, on-demand training, and daily office hours make learning the tool a breeze. AI-assisted lease entry, read-only auditor access, and push button reporting make day to day use a breeze.
What is lease accounting software?
Lease accounting software provides the calculations and reports necessary to comply with the new accounting standards for leases, including ASC 842 as well as GASB 87, IFRS 16, SFFAS 54, FRS 102, and various others.
LeaseQuery software provides everything needed for organizations reporting under FASB, GASB, IFRS, and FASAB to be in compliance: amortization schedules for the lease liability and ROU asset, journal entries, reports, disclosures, and a knowledgeable support staff.
LeaseQuery provides compliant and accurate finance lease and operating lease accounting for lessees reporting under ASC 842 and IFRS 16 and for both lessees and lessors reporting under GASB 87 and SFFAS 54.
For GASB 96 accounting compliance, see our GASB 96 software.
Find the Best Lease Accounting Software for your Business
LeaseQuery Integrations
LeaseQuery seamlessly integrates with any ERP to automate journal entries, reduce errors, and consolidate data from multiple sources. This streamlines your lease accounting process, saving time, unlocking valuable financial insights, and maximizing your return on investment.
Evaluate More Than Just Cost
Occasionally, procurement teams and senior leaders push for the low-cost option, but the cheapest solution may not be best. Understand the software’s features to ensure it has everything needed for long-term compliance and what added value it might bring. Consider features like ad-hoc reporting, storage and management for non-lease contracts, and AI-enabled document extraction.
Read Lease Accounting Software Reviews
The best way to assess any technology is to hear from those who have used it. Over 66% of B2B buyers say reviews are “very important” in the buying process.
Most of LeaseQuery’s customer reviews are from the accountants who perform their company’s lease accounting. Several competitors have received good reviews, but from people in real estate, legal, and lease administration, rather than accountants.
When checking out a solution’s reviews, look for how many of those reviews were made by people who understand lease accounting specifically.
Seek Feedback From Your Peers
Go beyond online reviews and reach out to your peers to find out which solutions they’re using. A one-on-one conversation allows you to ask questions you may not see addressed in a review.
The demanding landscape of lease accounting, with its complex standards, compliance requirements, and staffing challenges, may have resulted in some companies adopting solutions that lack the necessary features and support for sustained compliance. Learning from the experience of your peers and having a keen eye for detail will help you make the right choice.
Small Portfolio Lease Accounting
LeaseGuru lease accounting software makes it simple and secure to account for small lease portfolios, producing the amortization schedules, journal entries, and disclosures required for ASC 842 or IFRS 16 compliance. Create an account and enter your first 2 leases for free.
Check Out Lease Accounting Software Reviews On These Comparison Sites
Software Reviews on G2
Software Reviews on Software Advice
What to Look for When Comparing Lease Accounting Solutions
Knowledgeable Support Staff
No matter how simple a solution seems, it’s always good to confirm reliable help is available.
- Is the provider’s support staff competent with the system?
- Do they know how to apply the lease accounting guidance correctly?
- Are you able to get support in a timely manner?
These things will be crucial for a smooth implementation and ongoing compliance.
Automation And Efficiency
The software you choose should provide accurate lease accounting and compliance right out of the box. When comparing solutions, be sure to ask:
1. Are report exports built to comply with the standard’s disclosure requirements?
2. Are missed lease adjustments seamlessly made with an easy-to-follow audit trail?
3. Does the software use AI to automate repetitive or tedious tasks such as lease abstraction and data entry?
SOC Reports
System and Organization Controls (SOC) reports – issued by a third-party CPA firm – examine a software company’s internal controls over various functions, including financial reporting, IT security, and data processing integrity. A SOC 1 Type 2 is the most relevant report for lease accounting software. Your vendor should be able to provide one, issued within the previous 12 months, to give assurance their controls are operating effectively.
Data Security And Support For Your Internal Controls
Don’t sacrifice security or controls. Providers should be able to show you how their lease accounting system’s built-in functionalities keep your data secure and reinforce your internal controls. Security features like unique user logins and data encryption are a must. Controls like data validation, appropriate approval processes, and lease change reporting will support Sarbanes-Oxley (SOX) compliance and a smooth audit process.
Lease Software Comparison Guide
Comparing lease accounting software solutions? Supplement the reviews and pricing info with considerations from our comparison guide:
- Evaluation of ASC 842, GASB 87 & 96, or IFRS 16 software.
- Must-ask questions to check vendor expertise.
- List of the top functionalities required for compliance.
More Than a Lease Accounting Tool
A Lease Database Software
Our cloud-based software houses your leases and financial contracts in a centralized and secure database available anywhere with an internet connection and provides data integrity not possible with Excel.
Give departments and team members the appropriate level of access for their roles and they can create alerts for upcoming dates, set workflow notifications, or use the search function to quickly pull up contracts. You can even give auditors read-only access for a simpler audit process.
Financial Decision Support Tool
LeaseQuery reporting gives you insight into all the financial details of your leases. This new visibility enables better and easier forecasting, budgeting, and capital allocation.
In addition, LeaseQuery reporting, along with critical date alerts, help you identify and address issues with your leases before they become problems.
Lease Management and Lease Tracking Software
Tracking leases is possible with Excel or a Google Sheet, but it’s not ideal. Failure to meet accounting compliance isn’t the only risk.
Relying on a spreadsheet and human accuracy can also lead to missed renewals, failure to escalate (or de-escalate!) payments, and miscommunication across departments.
Lease accounting software aids lease tracking and management to improve processes and catch errors before they can become bigger issues.
