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LeaseQuery

LeaseQuery

4.7
(9 reviews)
Optimized for quick response

LeaseQuery is software that helps companies manage their leases and ensures they never overpay rent. It gives businesses the straight-line journal entries required by GAAP, gives them the ability to build unlimited reports, and shows them how the new lease accounting rules will impact debt, EBITDA, net income and other financial metrics.

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LeaseQuery Reviews

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Showing 9 LeaseQuery reviews
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LeaseQuery review by Pam G.
Pam G.
Validated Reviewer
Verified Current User
Review Source

"Lease Query clearly has a goal to meet its customers' needs in the most efficient way. "

What do you like best?

I like that they respond to questions promptly and make me and my employer feel like we are their most important client at that moment.

What do you dislike?

They have not solved all issues with their software, but they have solved the most important problems and priortized them properly. They will get to the less urgent ones later as time permits. I get it.

Recommendations to others considering the product

I highly recommend to others to give LeaseQuery a try. It does what it needs to do to comply with the new rules for lease accounting and the support is great and responsive. The owner knows his stuff and has trained his Accountants and support staff well. It's a phenomenal value.

What business problems are you solving with the product? What benefits have you realized?

They have helped us get ready to comply with the new Lease Accounting rule ASU 842 in time for its effective date for us which is 1/1/19.

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LeaseQuery review by Trista L.
Trista L.
Validated Reviewer
Verified Current User
Review Source

"Controller"

What do you like best?

LeaseQuery has taken a very manual and error prone process that was causing a material weakness in our accounting procedures and turned it into a click of button.

What do you dislike?

Our company is very dynamic, and the volume of leases that are required to be added is definitely pushing our resources at LeaseQuery a lot. For the most part, there is no issue, but every now and then, we get a delay in processing.

What business problems are you solving with the product? What benefits have you realized?

This solved major accuracy issues with all of rent related accounts. It resolved a material audit weakness for us. It took a job that would easily take one full time employee and condensed it to a one to day per month workload.

What Lease Accounting solution do you use?

Thanks for letting us know!
LeaseQuery review by Erik H.
Erik H.
Validated Reviewer
Verified Current User
Review Source

"So far a great software for ASC 842 compliance"

What do you like best?

Very intuitive and easy to use. The software is extremely reasonably priced, and it is helping us get in compliance with the new standard.

What do you dislike?

I really only dislike that I have to buy this software to begin with! Would much rather keep operating leases off balance sheet, but LeaseQuery makes it easy to be in compliance.

Recommendations to others considering the product

This is a fantastic product. It has been very helpful in our implementation.

What business problems are you solving with the product? What benefits have you realized?

LeaseQuery is helping us get in compliance with the new ASC 842 lease accounting standard.

LeaseQuery review by Mike H.
Mike H.
Validated Reviewer
Review Source

"Simple, cost effective solution"

What do you like best?

LeaseQuery has everything we need to be compliant with ASC 840/842, from serving as a lease database, to journal entries, and even all the required disclosures with the click of a button. The system is user friendly and the support staff are friendly and quick to respond.

What do you dislike?

Still implementing some updates for ASC 842

What business problems are you solving with the product? What benefits have you realized?

LeaseQuery performs all of our lease classification tests and calculates our ROU assets and lease liabilities and required journal entries under ASC 842. Our alternative would have been to manually track these in excel for our entire portfolio of leases. It will also save us a lot of time with the built in disclosure functionality.

LeaseQuery review by User
User
Validated Reviewer
Verified Current User
Review Source

"Easy Implementation and Excellent Service"

What do you like best?

The software is intuitive and easy to use. The customer support is outstanding.

What do you dislike?

The software has trouble with $0 rental agreements and negative CAMs. Our Customer Support Manager helped us with a work-around.

What business problems are you solving with the product? What benefits have you realized?

LeaseQuery is helping us meet the requirements of the new leasing standard ASU 2016-02 Leases (Topic 842). It's also providing us with one location for all lease documentation including lease agreements, addendums and CAM adjustments

LeaseQuery review by User
User
Validated Reviewer
Review Source

"Good software with great customer service"

What do you like best?

The implementation team is fantastic. The Lease Query team spent as much time as we needed to train our team, answer questions and provide timely responses to one-off follow-up questions at a later date. I was impressed with the software’s ability to allow various customizations to meet our overall needs.

What do you dislike?

Overall software is good, functional and accomplishes the end goal. From a reviewer/ project manager’s vantage, the ability to understand status and report generation is at times difficult to navigate.

What business problems are you solving with the product? What benefits have you realized?

Implementing the new leasing standard under ASC 842

LeaseQuery review by User
User
Validated Reviewer
Verified Current User
Review Source

"Accountant "

What do you like best?

When I pull data from Lease Query I know it's right

What do you dislike?

The software updates take a while and sometimes have bugs that require fixing.

Recommendations to others considering the product

There is no better product for the price.

What business problems are you solving with the product? What benefits have you realized?

Month close process

LeaseQuery review by Administrator
Administrator
Validated Reviewer
Review Source

"Newer software lots of potential"

What do you like best?

Implementation team was very helpful. The dashboard view is easy to use.

What do you dislike?

Parts of the interface aren't very streamlined as you can only access some data by running a report. The administration of user roles is rigid.

What business problems are you solving with the product? What benefits have you realized?

Consolidating lease data into one system

LeaseQuery review by User
User
Validated Reviewer
Review Source

"Very Informative, prompt and friendly experience with Casey and Jordan"

What do you like best?

Friendliness, promptness and knowledge of the helpdesk online and of course the product.

What do you dislike?

I don't have any yet that I can identify

What business problems are you solving with the product? What benefits have you realized?

Efficiency in journalizing and monitoring the Operating Leases.

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