ASC 842
Lease Accounting Software
Rated #1 lease accounting software for 4 years and counting by real users
ASC 842 Compliance
LeaseQuery’s ASC 842 software is proven to unlock new efficiencies and simplify accounting for leases. The cloud-based solution sets users up for day one and long-term compliance.
Accurate Reporting
Reports and disclosures required for ASC 842 compliance made available out of the box. Custom reports are also available based on any allocation, for any time period you choose.
Central Repository
Make the auditing process more efficient and transparent by giving management and external auditors access to download all necessary and compliant lease documents.
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
The Ultimate Lease
Accounting Guide
Want to master lease accounting under ASC 842 and become an expert? LeaseQuery is here to help with our Free Ultimate Lease Accounting Guide!
Our team of experts will walk you through all the essential ASC 842 lease accounting fundamentals in this comprehensive guide.
I was very impressed with their knowledge of the standard and how it works with the software. Compared to other vendors they seemed to have a better understanding of the accounting behind it and how the client is going to actually use the software to report on that.”
Marc Jones Jr.
Controller, Goosehead Insurance
Cloud-based Solution
- Develop a centralized accounting process
- Enter data and view changes in real-time
- Accurate audit trails noting lease entries, modifications, and approvals
- Easy access to your lease documents anywhere there’s an internet connection
Secure and IT Approved
- Data entry validation protocols requiring approval for all updates made to a lease
- Functionality that reinforces internal controls in accordance with the Sarbanes-Oxley (SOX) Act
- Secure firewalls, ensuring only authorized network users can access information
Automated
- Generate automated reports for complex lease calculations
- Set up alerts to keep critical ASC 842 deadlines top-of-mind
- Improve lease accounting tasks related to payment schedules, disclosures, reconciliation, support, and more with the ease of automation
