LeaseQuery

Report Enhancement and Output

Pros

I found this software to be highly valuable and efficient when it comes to lease accounting applications.

Cons

I still have much to learn about the features and functionality, so I need to familiarize myself with the software first.

User review

Pros

The amortization schedules provided are detailed and user-friendly.

Cons

To provide a comment, I need to use it more frequently.

Experience with LeaseQuery software with a Non-Profit Health Organization

Pros

In comparison to other software I've tried, this one is easy to use and has a friendly interface.

Cons

The training for using the software was brief and concise. However, it requires extensive reading and trial and error.

Love it!

Pros

It is incredibly user-friendly, and what sets it apart is the interactive GIS map that displays the parcels, which is not commonly found in most software.

Cons

It appeared a bit outdated at the time and could benefit from a faster update.

Adopt FASB 842 and IFRS 16 with ease, efficiency & effectiveness

Pros

When we were considering software providers for the adoption of the new lease standards (FASB 842 and IFRS 16), LeaseQuery ticked all the boxes on our "Must Have" list. Over the past three years, we have successfully managed 583+ leases through LeaseQuery without encountering any issues.

Cons

LeaseQuery offers the top lease accounting software platform in the market, facilitating easy compliance with FASB 842 and IFRS 16 lease standards.

TranSystems

Pros

The customer support provided for this software is fantastic, and the monthly entries can be customized.

Cons

The reporting feature can be challenging to use, and it would be beneficial if the amortization schedules displayed a beginning asset/liability balance without the need to calculate it.

An excellent tracking program with an exteensive Knowledge Base

Pros

The knowledge base has had a significant impact on me as a user. It goes beyond being a simple step-by-step guide and explains the accounting principles and how the process takes care of the accounting. The payment schedule options are also a highlight, offering flexibility for different lease situations.

Cons

I would appreciate more information regarding recommendations for establishing policies and procedures, as well as additional internal controls for functionality. These aspects are crucial for our auditors' inquiries.

Great software and reliable advice

Pros

This software is exceptionally easy to use, offers excellent customer service, and supports both GAAP and IFRS simultaneously. As we maintain two sets of books, having a single setup for accounting data makes it the best solution.

Cons

Currently, the software lacks the ability to generate a consolidated amortization schedule that includes all active leases for a specified period. This report is essential for month-end reconciliation but is not available. As a result, we have to run multiple individual reports, hoping that this feature will be implemented in the future.

Great Software

Pros

I appreciate the ease of use of LeaseQuery, and our representative is highly responsive.

Cons

Occasionally, LeaseQuery does not provide pre-made custom reports. However, it is possible to create these reports, and the representatives are helpful in assisting with that.

LeaseQuery Software

Pros

LeaseQuery makes it easy to input lease information and provides all the necessary data within the system. We can also export files from the system to create invoices and journal entries in our ERP system.

Cons

We are still working on automating the Journal Entry process to a greater extent.