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Steinway Musical Instruments Hits the Right Note with LeaseQuery and Sage Fixed Assets

The Challenge

Steinway Musical Instruments, Inc., a leading manufacturer and distributor of musical instruments, was accounting for their leases manually through the utilization of multiple spreadsheets, prior to implementing the new ASC 842 lease accounting standard.

The Solution

As a Sage Fixed Assets customer, Steinway had the fixed assets they own already covered. When looking for a lease accounting solution, they found LeaseQuery’s data and reporting functionalities ideal for their business, including the software’s specific audit trails and support for each of the numbers presented in system-driven reporting.

“There are several training sessions with LeaseQuery professionals who have been on the other side—adopting the new standard as employees in private companies—who are able to give a lot of valuable insights as we try to understand the new standard ourselves and how it will impact our business.”

– Accounting and Tax Director, Travis Weschler, CPA

Manufacturing Lease Accounting Case Study