LeaseGuru
1 Review 5/5 ★ ★ ★ ★ ★A lease accounting software for small businesses with up to 50 total leases.
Product Overview
LeaseGuru by FinQuery is a lease accounting software for small lease portfolios. It is free for firms with only 2 leases. A paid version is available for up to 50 leases. The system provides everything needed for compliance with ASC 842 and IFRS 16, including full amortization schedules, journal entries, and disclosure requirements.Pros
- Free version available for smaller companies
- Self-service software has Knowledge Base with common support topics
- Supports Lessee accounting
Cons
- Support is not available
- Only accepts payment via credit card
- No GASB accounting
Target Market
Single company firms with no more than 15 leases and multi-company firms with up to 5 companies and 10 leases per company. Companies with over 50 leases can look at FinQueryNot Recommended For
Organizations with over 10 leases or multi-company firms with more than 50 leases.LeaseGuru Features
- Complete and accurate lease accounting
- Free for up to 2 lessee leases
- Up to 2 contributing users
- Guest user with read-only access (great for Auditors)
- Journal entries
- Amortization schedules
- Complete, Quantitative Disclosures
LeaseGuru Pricing
Single Company Plan
Designed for organizations to manage their own leases.
- Basic: Free for up to 2 leases. Access for 1 user.
- Premium: $999 per year for up to 10 leases and 2 contributing users.
- Premium Plus: $1,750 per year for up to 15 leases and 2 contributing users.
Multi-Company Plan:
Designed for firms doing lease accounting for up to 5 clients.
- Limited: Free for 1 company with up to 2 leases.
- Premium: $750 per year for 1 company with up to 10 leases.
- Premium Plus: $1,000 per year for 2 companies with up to 10 leases each.
- Premium (3 companies): $1,750 per year for 3 companies with up to 10 leases each.
Product Overview
Developer Overview
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User Reviews of LeaseGuru
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- Internet Software & Services
- 251-1K employees
- Annual revenue $50M-$100M
LeaseGuru is the perfect software to help smaller companies
LeaseGuru is the perfect software to help smaller companies with a small number of leases comply with ASC 840, ASC 842, etc. The tool walks the user through setting up the leases on the system and returns the entries and schedules to mange and record the lease entries in our financial system. The folks at LeaseGuru are knowledgeable and are investing in the system to make it more useable and robust.
Pros
It is easy to use and does the job! It makes managing my leases easy. Takes me out of the Excel spreadsheet realm! When I implemented it originally many months ago it was a bit klugey, but the LeaseGuru folks have taken users' feedback and have improved the look, feel and useability of the software.
Cons
I think that it has become a robust tool for me. When I first started adding leases it lacked detailed help explanations, but that may have changed as the tool has matured.
