LeaseQuery
15 Reviews 4.5/5 ★ ★ ★ ★ ★Lease accounting software from LeaseQuery, LLC.
LeaseQuery is a FASB ASC 842, IFRS 16, and GASB 87 lease accounting software solution. Essential features include error-free amortization schedules and journal entries, critical date alert setting, and data entry validation. With LeaseQuery, public and private companies, as well as government organizations, are able to meet auditor and regulatory requirements.
Video Overview
Primary Features
The primary features of LeaseQuery include:
Software Features
- Role-Based Access
- Locking Journal Entries
- Critical Date Alert Notifications
- Custom and Canned Reports
- Seamless Integration with Any ERP
Data Integrity
- Data Entry Validation
- Lease Change History Documentation
- Duplicate Prevention
- General Ledger Agnostic
Accounting Intelligence
- ROU Asset and Lease Liability Calculation
- Assessment of Lease and Non-Lease Components
- Contingent Rent
- Practical Expedient Application
- Borrowing Rate Charts
- Custom Calendars
International Considerations
- Multi-Currency
- Translation and Remeasurement
Reporting
Required disclosures for:
- ASC 840
- ASC 842
- IFRS 16
- GASB 87
- Legacy GASB
Target Market
LeaseQuery is used by individuals in:
- Finance and accounting teams
- Accounting firms
- Government organizations
Pricing Guide
LeaseQuery does not advertise pricing online. The software packages are priced per lease and include an unlimited number of users. There is no free trial available. There is no free version available.
Product Overview
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User Reviews of LeaseQuery
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We ended up going with LeaseQuery for our lease accounting. Another company near us are using the same program so now we can check and see if we are doing it right.
LeaseQuery was pretty comparable to the few other systems we checked out. Their pricing was a bit higher than some of the other systems but we had some familiarity and liked the ease of use of LeaseQuery.
The name familiarity of Leasequery drew us to it. Turned out price was all good too. Support was good, they did a good job with the implementation.
You would have had to do a bunch of manual adds for some other programs. Those were more of a manual database. Leasequery was a little bit more of a polished, finished product.
Support and pricing
None
After looking at a handful of solutions for ASC 842 complinace, we moved forward with Lease Query. The primary reason is they were most established across the market and a trusted vendor in the field. As a user on the software for the last several months, we have been happy with the system.
We ended up going with LeaseQuery, their support team has been great and have been listening to our feedback on how to improve the system. They have made several changes that made the program more user friendly.
Their program out of the ones we reviewed were albe to meet all of our needs from a lease accounting system.
Great support that listened to our feedback.
Made changes based on our feedback
No cons at this time.
We ended up going with LeaseQuery after reviewing a few recommendations. They were able to meet all of our needs and even had more features than we needed. We ended up choosing them as they seemed the simplest to use. Support has been great and we have monlty meetings with LeaseQuery
Met all of our lease accounting needs Great support team
Nothing negative in our month of using it.
We demoed LeaseQuery and thought it was fine. It was able to meet all of our needs but we ended up going with another product. The pricing for the other product just made sense for our simple needs.
Able to meet all of our software needs
Other options were more affordable.
Lease Query is a lease tracking software that simplifies the lease accounting experience.
I like how simple the software is to use and how responsive the reps are!
Sometimes the reports I am looking for are not readily available but the reports can be made by yourself or with the help of the rep.
LeaseQuery has been a critical part of our implementation of 842. It would be helpful if I were able to make changes to leases that are in the “submitted” phase and if there was a function that checked the effect of receiving TI reimbursements at different dates than originally imputted.
The journal entry exports
Having to submit a lease in order to see TI to see the “new rules” implemented in the amortization table
LeaseQuery is a user friendly software that allows our 5 subsidiary companies to easily manage their combined 150 leases.
To me, the best part about LeaseQuery is the how user friendly the software is.
Occasionally, there have been times where the website seems to drag.
Lease Query is a software used to calculate lease asset, liabilities, amortization schedules, create journal entries and reports.
The software is easy to use, it has helped us organize and keep the leases in one place, and it allows us to create journal entries.
We have encountered several issues with the termination journal entries and we have had to calculate them manually. I wish when an issue is reported by one user, they would make other users aware of the problem. Sometimes they do, but sometimes they don’t.
LeaseQuery is exactly the accounting software our company needs to comply with ASC 842 for leasing.
The website is very easy to use, understand, and navigate. But more importantly is to get the reports and journal entry needed.
Sometime the website can be slow.
LeaseQuery is a good product to handle a smaller lease population. We have somewhere around 100-125 leases at any given time and it is perfect for managing that population.
The software is intuitive and easy to use.
The lack of a catch-up journal entry has been a pain-point for our team thus far, LQ does promise this will be fixed sometime around Q1-Q2 2020.
It’s easy to use and easy to learn.
The quick response of the Support team
The help section does not give enough examples.
This is a breath of fresh air for an occupation that’s usually treated with bored stares, long sighs and slow blinks. As I signed off for the day, I found myself wondering what new funny would be waiting for me the next time I logged into LeaseQuery. And then I realized I was actually liking lease accounting for the first time in eight years.
The things that we liked about LeaseQuery were the data validation, audit trail, and email notifications.
When we have questions, we send a note, and someone sends a response within an hour or two.
