LeaseQuery Software

4.77 / 5 (28)

Our advisors have recommended this product 5 times in the last 30 days

About LeaseQuery

LeaseQuery is cloud-based lease accounting software for lessees/tenants reporting under FASB and IFRS as well as both lessees and lessors reporting under GASB. The system generates accurate amortization schedules and journal entries and enables companies to meet disclosure requirements set by financial regulatory boards. It is fully compliant with the new lease accounting standards: ASC 842, IFRS 16, and GASB 87.

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 accounting and management. It a...


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Supported Operating System(s):

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

28 Reviews of LeaseQuery

Average User Ratings

Overall

4.77 / 5 stars

Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

4.5

Ratings Snapshot

5 stars

(21)

21

4 stars

(7)

7

3 stars

(0)

0

2 stars

(0)

0

1 stars

(0)

0

Likelihood to Recommend

Not likely

Very likely

Showing 1 - 5 of 28 results

June 2018

Gary from Northwest Farm Credit Services

Verified Reviewer

Company Size: 501-1,000 employees

Industry: Financial Services

Time Used: Less than 12 months

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 2020

Adrian from Amerant Bank

Verified Reviewer

Company Size: 501-1,000 employees

Industry: Banking

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

March 2020

Amerant Bank loves LeaseQuery!

Amerant Bank is very satisfied with LeaseQuery. It has allowed us to automate our entire lease process and removed the need to perform very complex calculations in excel. Additionally, we have found the multi-departmental collaboration efforts between our Facilities, Accounting, Internal Controls, and Reporting teams to be seamless.

Pros

The software is very user friendly and has out-of-the box reports that make ASC 842 compliance a breeze. The tool makes lease management and accounting very simple from beginning to end.

Cons

Changing some lease characteristics after a lease has been approved is a little cumbersome as the tool requires the user to re-enter some of those characteristics from scratch rather than just changing one specific field.

Reasons for Choosing LeaseQuery

Cost and ease of use.

March 2020

Ryan from Heritage

Verified Reviewer

Company Size: 501-1,000 employees

Industry: Insurance

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

4.0

Customer support

5.0

Functionality

4.0

March 2020

Review

Once I enter a lease in LeaseQuery, the data that comes out is very useful.

Pros

Software is pretty easy to use and makes accounting side of if very easy for Journal Entries

Cons

Running different reports can be tough sometimes but once you figure it out, it's no problem

March 2020

Chelsea from Chemed Corporation

Verified Reviewer

Company Size: 10,000+ employees

Industry: Hospital & Health Care

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

March 2020

LeaseQuery- a must for new lease standard

LeaseQuery has been wonderful to work with during the implementation of the new lease standard. There were some bumps in the road in the beginning, but that is expected with any new software and implementation of a new accounting standard. The staff are very knowledgeable, quick to respond, and easy to work with.

Pros

LeaseQuery is very user friendly and easy to maneuver around in. I currently enter new/modify/update leases, run entries and reports, upload into our GL system, complete account recs and help our other units with their leases, as well as our auditors. The support staff are quick to address any issues. Overall its a great system that does everything you need to implement the new lease standard!

Cons

One feature that I would like to see added would be the ability to correct a mistake you find after you submit the lease for approval. Right now, the approver would have to reject the lease, for the original person to fix and then re-submit.

March 2020

Jay from JM Huber

Verified Reviewer

Company Size: 1,001-5,000 employees

Industry: Chemicals

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

March 2020

LeaseQuery - a Successful Accounting Tool

- Overall, so far very happy with LQ, especially with Customer Service which has been a very helpful resource any time a question surfaces - big or small

Pros

- Customer Service has been a constant source of help in learning and implementing the software - Loading leases is straightforward, with helpful toggles that make it easy to enter leases with constant payments, leases with payments that vary in a pattern (e.g., subject to steady escalation) and leases with random payments (e.g., office leases with periods of free or reduced rent) - Ability to easily attach lease schedules, memos, analyses, etc. to each lease - Internal control feature that requires independent entry and approval of each leases - Easy web-access with just a few clicks - Automatic operating vs finance lease analysis (if enter all needed data) or override capability

Cons

- Reporting is somewhat clunky (e.g., customized reports once saved cannot be modified to say, add another attribute) and trial &error involved in learning what attributes are contained within LeaseQuery-provided canned reports. (Told reporting enhancements are coming in near future)

Reasons for Choosing LeaseQuery

Most intuitive of the products we looked at in 2010 and significantly lower implementation cost