LeaseQuery is a cloud-based lease accounting and lease management software for lessees reporting under FASB ASC 842 and IFRS 16 as well as both lessees and lessors under GASB 87. The system enables businesses to track their leases, get alerts for renewal deadlines, provide journal entries and financial disclosures, calculate straight-line amortization, and prevent overpayment of rent. It prepares journal entries for deferred rent and tenant improvement allowances, sends alerts for renewal deadlines, and provides the ability to create multiple reports.
The software sends users reminders of critical dates such as renewals, expirations, and custom dates. Users can assign different tasks to employees under multiple leases, along with “complete by” dates.
LeaseQuery allows users to store and organize documents in any format (PDF, Word, Excel) in one searchable database. It has a powerful search engine that enables users to locate documents quickly and easily.
LeaseQuery provides the Commitments reports required in the MD&A and the Commitments and Contingencies reports required in notes for GAAP. Users can further create their own customized reports with any attribute. The software supports data integrity by ensuring all leases entered are approved by another person. Each lease has an audit trail, disclosure, and approval.
LeaseQuery software has improved our process and access to lease accountants adds value!!
Used weekly for 6-12 months
Reviewed 2018-03-26
Review Source: Capterra
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!
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!
Used daily for 1-2 years
Reviewed 2016-09-08
Review Source: Capterra
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.
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’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.
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.
Michelle Moura, our account manager has been phenomenal. Customer support is very responsive. Overall, this product and people rate beyond expectations.
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.
GetApp offers free software discovery and selection resources for professionals like you. Our service is free because software vendors pay us when they generate web traffic and sales leads from GetApp users.
Because we’re committed to help you find the right solution for your business needs, we list all software vendors on our website, and give them the opportunity to feature their solutions and collect user reviews.
At GetApp, our comprehensive software listings, verified user reviews, product comparison pages, articles and AppFinder, our assistive tool, will empower you to make confident and well-informed purchase decisions.
Sign up / Sign in
Both new and existing users can sign in with LinkedIn.
Australia (English)
Canada (English)
Deutschland (Deutsch)
United Arab Emirates (English)
España (español)
France (français)
Ireland (English)
México (español)
Nederland (Nederlands)
New Zealand (English)
Österreich (Deutsch)
Portugual (Português)
Singapore (English)
South Africa (English)
United Kingdom (English)