LeaseQuery Software

4.91 / 5 (16)

Our advisors have recommended this product 2 times in the last 30 days

About LeaseQuery


LeaseQuery is a cloud-based lease accounting software solution for lessees/tenants. The system enables companies to fully comply with FASB ASC 840, FASB ASC 842, IAS 17, and IFRS 16. The system generates accurate amortization schedules and journal entries and enables companies to meet disclosure requirements set by financial regulatory boards. LeaseQuery was built by accountants for accountants and its software is complemented by the expertise of the company's in-house accountants. The system also supports the internal controls companies need to ensure the accuracy of their financial statements.

LeaseQuery offers numerous features that simplify lease management. It acts as a searchable, centralized repository for lease documents and provides automated alerts when critical dates are approaching. To prevent errors from being introduced into the system, users can set permissions based on role. Services are offered on a subscription model for number of leases. Support is provided via email and phone.



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Supported Operating System(s):

Mac OS, Web browser (OS agnostic), Windows 8

16 Reviews of LeaseQuery

Average User Ratings

Overall

4.91 / 5 stars

Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

4.5

Ratings Snapshot

5 stars

(14)

4 stars

(2)

3 stars

(0)

2 stars

(0)

1 stars

(0)

Likelihood to Recommend

Not likely

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Showing 1-16 of 16 reviews

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September 2016

Missy from Scotland Wright Associates

Company Size: 2-10 employees

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

September 2016

A Game Changer for Lease Management and Accounting!

As a tenant-rep commercial real estate firm, we have found LeaseQuery to be an invaluable asset to our day-to-day operations. When we took on a few new clients, each with between 2-4 dozen leases nationwide, we were presented with the task of reviewing and subsequently managing each of their leases and also for staying aware of upcoming expirations and other important deadlines/dates. Additionally, as new members of the executive management team joined their respective companies, we were asked to bring them up-to-date on the company's real estate portfolio and the remaining obligations surrounding each lease. LeaseQuery made this incredibly simple, allowing us to securely store and organize all of the documents and information, create detailed summaries on each property, and download comprehensive reports in minutes.

Pros

We are able to instantly pull up all of the details on any given lease with only a couple clicks of the mouse. From basic information like location, size and important dates, to amortization charts and financial/accounting data, the search feature makes it simple to use and gives you immediate results. No more digging through files and endless spreadsheets! We also love the automated email reminders of upcoming important dates, which help ensure no deadlines slip through the crack!

March 2018

Mike from Lasership Inc.

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

March 2018

Lease Query is my lifeline to maintaining sanity when dealing with over 70 Property Leases.

Pros

Prior to LQ, Excel SS was my tracker for Leases. Countless hours spent on updating Lease extensions, contact info. deferred rent calculations and the worry of misstating financials with a simple oversight or formula error. Since implementing LQ, many of those worries and doubts have gone away. LQ has built in checks and balances to eliminate many common oversights and errors that can easily occur when maintaining Excel SS.
The Customer Support you get with LQ is exceptional. The newly implemented online chat box is an invaluable, no cost upgrade. On the spot answers to questions you may have when working in the software saves valuable time by not having to make or wait for a return call to simple question you may have.
One of the things I like most about the software is the reporting tool. With just a few clicks you can customize a report to include square footage, cost per foot, rent per Mth, etc. Landlord, Property Mgnt. info. If you enter info. into the system, you can get a report for it.
As for Value for Money, I would give it 100 Stars if possible. What this software offers and does for you, it is well worth the small investment. You will save more on Time, Labor and Effort after implementing LQ than what you will spend on the software.

Cons

The software needs an "Undo Button". With the requirement of a 2nd approver, which by the way is fantastic feature, once you begin a renewal or modification and discover you did something incorrect, the second approver needs to "reject" the submission before you can correct the error.
This has been a recommendation and from what I understand is being developed currently.

September 2016

Hayley from Burns & McDonnell

Company Size: 5,001-10,000 employees

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

September 2016

Great Solution for a Complicated Issue

LeaseQuery has been able to provide an accountant's solution to a complicated process. This software not only creates a one stop shop for all lease documents, contacts, dates and financial information, it also creates efficiencies across other departments such as fixed asset location reporting. The software simplifies lease accounting but all the while provides the complex information that is needed for decision making. The team has provided a great product and he backs it up with great service.

Pros

The ability to store all lease information in one spot that is easily found instead of using a folder system on a hard drive. It allows multiple users to query information on the fly.

Cons

I would like to be able to run a report for a specified date without having to save the report first. Reporting functionality is still evolving and I believe it will keep improving.

June 2018

Gary from Northwest Farm Credit Services

Company Size: 501-1,000 employees

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

June 2018

LeaseQuery has made it extremely easier to track all of our leases.The transition was smooth as well

Having all of our leases in one place and NOT a spreadsheet has saved considerable amount of time and effort having to get ready for the new accounting changes.

Pros

LeaseQuery is pretty user friendly but if a question does ever come up, the customer service team are offering help and suggestions within moments.

Cons

LeaseQuery has made tracking our leases so much easier and the monthly updates keep improving the process. It is hard to find something I dislike about the software. When we first implemented the software, there was not a way to delete reports that had been created and saved. Other than that, the software has been a joy to work with.

March 2018

Jessica from Northwest Farm Credit Services

Company Size: 501-1,000 employees

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

March 2018

LeaseQuery software has improved our process and access to lease accountants adds value!!

Automates everything related to leases - payment schedules, journal entries, disclosures, reconciliation support, alerts and so much more! Also get access to lease accountants and ability to ask questions and get timely feedback with chat function! They genuinely care about their customers and above all provide excellent customer service!

Pros

Automates, does the lease calculations and disclosures for us, sends alerts for critical dates, central repository for all lease contracts, highlights areas of changes for ease of review, chat function makes it easy to get questions answered quickly, easily converts to new lease standard, build by CPAs who know critical data elements needed, easy to use!!!

Cons

A couple functions were needed, but when requested by LeaseQuery were told they were already working on it and now we're just waiting for those enhancements to be tested and released to the live version. They are continually making changes to the software and are also open to feedback.

February 2017

Joan from Bellicum Pharmaceuticals, Inc.

Company Size: 51-200 employees


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

February 2017

Senior Manaer Financial reporting and Compliance

The LeaseQuery software is easy to use and I was able to get up to speed rather quickly. It calculated the impact of the new lease pronouncement so that I could show the CFO and VP of Finance. I have recommended this product to others as I love the cloud-based feature of it as well. It organizes all of your leases in one place.

Pros

Organization of leases, prepare journal entries for monthly close, prepares the impact of the new lease pronouncement for the CFO. Our Big 4 CPA firm recommended a product that organized all of our leases in one place and Leasequery does that.

Cons

We use a slightly different method for amortization on some of our leases but it is not really a con as our property accounting system actually records the amortization for our leases. LeaseQuery uses the life based on the lease which works for many companies.

March 2018

Sam from Nelnet

Company Size: 1,001-5,000 employees

Review Source: Capterra


Ease-of-use

4.0

Value for money

4.0

Customer support

5.0

Functionality

5.0

March 2018

Very approachable. The possible time savings in the automation and records-keeping is tremendous.

Pros

-Once you know where everything goes, it is easy to remember and use over and over again.
-The automation settings, alerts, and logic that you can set up are very customizable and have a lot of utility.
-Easy to correct errors and reassess previous contracts.
-Glad to hear that a CPI tool will be integrated soon!

Cons

-There are still occasional bugs and kinks, but nothing that crashes the system.
-The pop up calendars, reminders, and autofills can be a bit too overbearing and helpful.

April 2018

Morgan from Origin Bank

Company Size: 501-1,000 employees

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

April 2018

Efficient, helpful, easy to use

Pros

The software has helped ease the tracking of our operation and capital leases. It has also eased the pain of making monthly entries to our ledger.

Cons

There are a few reporting flaws that could be addressed. We have to manually look up items related to base rent and other contractual payments by lease.

October 2018

Anonymous

Verified Reviewer

Company Size: 10,000+ employees

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

4.0

Functionality

5.0

October 2018

LeaseQuery is great for CPA's of all kinds!

Since our company handles bulk leases on various properties, this software has made it very easy to grasp the situation.

Pros

This software makes accountant's jobs easier when it comes to lease accounting. Since the recent changes in leasee/leasor accounting, this software has been able to help the team understand various aspects of this challenging topic.

Cons

There were very few items to list as "cons" for this software. I suggest a little more user-friendly interfaces. But other than that, nothing to note.

April 2016

Trista from PT Solutions


Ease-of-use

5.0

Customer support

5.0

Functionality

5.0

April 2016

LeaseQuery made accurate lease accounting possible for us.

Pros

The ease of month end journal entries and audit are invaluable. The team is always available and proficient.

Cons

It can be challenging to keep CAM costs updated. Updates come at different times from Vendors so this has to be diligently maintained.

April 2016

John from Tupelo Honey Hospitality Corporation


Ease-of-use

4.0

Customer support

4.5

Functionality

4.5

April 2016

Tupelo Honey Cafe Property Lease

Pros

The LeaseQuery staff are very responsive to our requests and changes. The software assists in managing our property leases easy and efficient. The monthly reports help with the preparation of our lease liability roll forward; which drives our monthly journal entries.

Cons

Updating lease information for CAM adjustments seems cumbersome.

May 2015

Sarah from Tupelo Honey Hospitality Corporation

Review Source: Capterra


Ease-of-use

5.0

Customer support

5.0

May 2015

LeaseQuery made my job so much easier!

Initially, I was skeptical that a system could keep track of our company's leases.