Last Updated
Overview
LeaseGuru software helps small businesses manage lease accounting and stay compliant with ASC 842 standards. It is limited to two leases unless you upgrade, which may not suit growing firms. However, its simple interface and accurate reporting make it a practical tool for basic lease management needs.
Overall Rating
Based on 1 users reviews
3
Rating Distribution
Positive
0%
Neutral
100%
Negative
0%
Starting Price
Custom
LeaseGuru Specifications
- Lease Management
- Lease and Contract Management
- Reporting and Analytics
- Alerts/Notifications
What Is LeaseGuru?
LeaseGuru is a cloud-based lease accounting solution tailored for small businesses and accounting firms managing modest lease portfolios. Designed for entities with up to 15 leases, it addresses the complexities of complying with ASC 842 and IFRS 16 standards. By automating calculations and generating essential reports, LeaseGuru eliminates the need for manual spreadsheets, reducing errors and saving time. Its self-service model empowers users to manage lease accounting independently, making it a useful tool for firms.
LeaseGuru Pricing
The software offers two packages: Single Company and Multi-Company.
Single Company has four plans:
- Basic: Free
- Premium (10 leases): $999/year
- Premium (15 leases): $1750/year
- LeaseQuery: Custom pricing
Multi-Company has five plans:
- Limited: Free
- Premium (1 company): $750/year
- Premium (2 companies): $1000/year
- Premium (3 companies): $1750/year
- LeaseQuery: Custom pricing
Disclaimer: The pricing is subject to change.
LeaseGuru Integrations
Who Is LeaseGuru For?
The software is built to support small and medium-sized businesses, serving a wide range of industries, such as:
- Retail
- Hospitality
- Healthcare
- Real Estate
- Manufacturing
- Professional Services
- Nonprofits
Is LeaseGuru Right For You?
LeaseGuru is a strong choice for businesses because it reduces the risk of lease accounting errors, saves time by simplifying compliance, and provides clear financial reporting. Its affordability makes it ideal for small companies, and its user-friendly design enables easy lease management without requiring extensive accounting expertise.
Still not sure if LeaseGuru is right for you? Reach out to our customer support team at (661) 384-7070 for further guidance.
LeaseGuru Features
Automated Amortization Schedules
LeaseGuru automatically generates accurate amortization schedules, reducing manual errors and time spent on calculations. Users can export these schedules to Excel, facilitating seamless integration with existing financial systems and enhancing reporting efficiency.
Instant Journal Entries
The software enables the creation of monthly journal entries at both the organizational and individual lease levels. These entries can be exported to Excel, streamlining the accounting process and ensuring consistency across financial records.
Quantitative Disclosure Reports
LeaseGuru provides pre-built, quantitative disclosure reports that help businesses comply with ASC 842 and IFRS 16 standards. These reports include essential line items such as lease cost, cash flow, and weighted averages, simplifying the disclosure process.
CPA-Approved Calculations
Developed by FinQuery's in-house certified public accountants, LeaseGuru's calculations are CPA-approved, ensuring compliance with lease accounting standards. This professional validation offers users confidence in the accuracy and reliability of their financial reporting.
User-Friendly Dashboard
The intuitive dashboard provides a comprehensive overview of your lease portfolio, allowing users to track upcoming and remaining payments, lease statuses, and important dates. This centralized view aids in efficient lease management and decision-making.
Pros And Cons of LeaseGuru
Pros
Offers an intuitive and user-friendly interface
Automates amortization schedules
Provides quantitative disclosure reports
Offers a self-service model
Cons
No support for GASB standards
No workflow approval process
Does not offer multi-standard reporting
LeaseGuru Reviews
Total 1 reviews
3
All reviews are from verified customers
Rating Distribution
5
Stars0%
4
Stars0%
3
Stars100%
2
Stars0%
1
Stars0%
Share your experience
Accounting, 1-10 employees
Less than a year
“Not recommended”
Pros
Nothing positive to say, it's really hard to work with.
Cons
I wouldn't recommend this product. They automatically renew your subscription without giving you any prior notice, often not sending the alert until the very day they charge your credit card. When you try to cancel on the same day, Lease Guru tells you that you missed the 14-day cancellation window and If you explain that you never got any notice, they simply don't care. Their customer service, especially around billing issues is really poor.
Rating Distribution
Ease of use
5
Value for money
5
Customer Support
5
Functionality
5
Frequently Asked Questions
Does LeaseGuru have a mobile app?
No, LeaseGuru does not have a mobile app.
What other apps does LeaseGuru integrate with?
Watch a free demo of LeaseGuru to learn about its integration capabilities.
What language does LeaseGuru support?
LeaseGuru supports English.
What types of pricing plans does LeaseGuru offer?
LeaseGuru pricing is structured into two main packages: Single Company and Multi-Company. The Single Company package includes four plans. Basic is free. Premium for up to 10 leases costs $999 per year. Premium for up to 15 leases costs $1,750 per year. LeaseQuery offers custom pricing. The Multi-Company package has five plans. Limited is free. Premium plans are priced at $750 per year for one company, $1,000 per year for two companies, and $1,750 per year for three companies. LeaseQuery is also available with custom pricing. Get a custom quote for your business today.
What level of support does LeaseGuru offer?
LeaseGuru software offers support through FAQs and a knowledge base.
Who are the typical users of LeaseGuru software?
LeaseGuru is used by healthcare, retail, manufacturing, and several other industries.
Does LeaseGuru offer an API?
No, LeaseGuru does not offer an API.