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.

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!

We're off to a good start with this software.

We’ve found the system to be intuitive, accurate and generally easy to use, making journal entries and reporting significantly easier than any kind of home-grown, manual process could ever be.

Pros

This software handles the “basic blocking and tackling” of lease accounting well. The amortization schedules, journal entries and account balance reporting make understanding the ASC 842 and IFRS 16 accounting easier too. The recorded sessions were particularly helpful to me as I learned the system – I was able to learn the intricacies of the system at my own pace.

Cons

The system throws unusual error messages occasionally that are not always easy to interpret, but once you’re familiar with them, they become pretty much a non-issue.

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

Phenomenal Product

Michelle Moura, our account manager has been phenomenal. Customer support is very responsive. Overall, this product and people rate beyond expectations.

Pros

I have been using the software for over a year with over 100 leases to enter. Everything is in one place: data, documents, and report functionality. This is being used not only by accounting but our sales manager to manage the renewal of the leases.

Cons

Some aspects needed to be tweaked to make applicable to some of our situations. These were discussed with our account manager who submitted them for enhancements and several have been resolved.