The software makes it easy to input all your lease data without having to understand all the ins and outs of ASC 842. The tool guides you through all the steps of taking the terms of your lease and getting them properly input and categorized. They also calculate the adjusting entry that you'll need to convert from your current process to ASC 842. When researching different solutions, LeaseCrunch stood out because the workflow was simple and easy to follow, the implementation time was much faster (one company said it could take up to six months to gather all our lease info), and they offer a Help document to assist on the technical side. They also have several accountants and CPAs on staff to answer questions and help with unique situations. Overall, very happy with the product.

None, we have been very happy with the software so far.

We use the software to process the monthly accounting for a fleet of 150+ leased vehicles. Lease crunch has made a previously tedious task much easier and much less time consuming that our previous method of tracking the leases.

This product minimized the time it takes to run the lease calculations on a monthly basis. We're a construction company and lease approximately 150 vehicles which we had been tracking on an Excel spreadsheet. It quickly became quite a task to maintain the data and lease crunch has made it much easier to accurately report on a monthly basis.

I have not yet come up with any upgrades that I would want implemented at this time.

Figuring out the ROU Asset balance is the biggest aspect we use LeaseCrunch for, as well as the GL Journal Entry export. Like mentioned before, LeaseCrunch needs more updates to make it much more valuable to track leases vs tracking in a well designed excel spreadsheet.

Overall, LeaseCrunch is user friendly. It was a simple process to add new leases. The GL Journal Entry export function is the most impactful.

The filtering on the "My Leases" screen could use some work. It would be helpful to create a saved custom view where you can choose which columns to show when selected and only go through that process the one time. LeaseCrunch is missing a "delete" option for reporting entities and or leases. During a lease term there could be an amendment to the lease - there needs to be a field that can take into consideration amendment terms into the lease. Also, at the end of a lease term, typically leases are renewed and will need the new term info entered. It would be helpful if there was some sort of history for the lease documented to see these changes of original > amendments > renewal, if applicable. The process of updating the application date for a reporting entity should be easier than what it is currently. It would be nice if it was possible to make bulk changes.

My employer has not yet adopted ASC842, but in the meantime I have set up Lease Crunch with all of our leases and am running reports for comparisons. I am still in the process of learning how to use the software, but love the ease of getting monthly JEs and the Footnote feature.

The software makes it very easy to set up leases. Getting reports in Excel makes it easy to customize them for your individual uses. Running the monthly Journal Entries for all leases saves so much time from the way I was doing it previously.

I cannot run reports that look like a monthly Trial Balance to reconcile balances to my financial software.

The intuitiveness of the product allows for easy setup and streamlined modifications on an ongoing basis.

At times it can take a while to download reports from the site.

If I could rate it a zero I would. The software is not user friendly at all and would not produce the right amortization schedules. Despite calls with the representatives at LeaseCrunch, it could not do what was needed and left us with a huge mess to clean up at audit time. I ended up paying 4 times as much as the yearly LeaseCrunch fee to get the right schedules and countless hours to fix things to pass audit. DO NOT WASTE YOUR TIME OR MONEY!!!! 0 out of 10, would not recommend.

Nothing. It is not worth the time or money

Everything. Not user friendly and didn't pass audit.

100% positive. it was very well received by our auditors as well as our parent company

Ease of use, plus the quality of the schedules and the details for the footnote. Also, as we are a cross border international firm, the ability to switch between ASC842 and IFRS is tremendous

Nothing. We have been totally delighted with this product

We are currently in the very early stage of implementing the software for our Credit Union. During the trial period, we were able to test and found the software to be user-friendly.

Figuring out how to account or where to input rent abatements, but this would be something that the support team can handle.

The overall navigation and customizability of the software to your specific needs was fantastic. Very intuitive and easy to follow.

There is nothing that stands out as being an obvious con, but integrating this software with whatever current lease software one may be using could prove tricky, depending on the exact format and software being used previously.

The LeaseCrunch software is a very easy to use program and does not require a lot of steps to have everything entered.

There is nothing I disliked about the software.

The simplicity of the lease set up and data entry, with well organized and detailed excel schedule exports. The automation surrounding the footnote disclosures is immensely efficient and helpful for preparing financials.

We haven't identified any cons of note in our use of the software thus far.

Ease of use, easy to integrate with our accounting software.

I have no complaints but I will review again once I get more familiarized with it.