LeaseQuery Reviews

LeaseQuery

Lease accounting software for businesses of all sizes

4.77/5 (28 reviews)

Pros
  • The best functionality about this software is how user friendly it is.Evelyn A.Read the full review
  • LeaseQuery has proven to be relatively easy to implement and user engagement has been high. They are constantly improving the product and address help requests or issues in a timely manner.Mike V.Read the full review
  • Overall I am happy with LQ. The software has automated what was a very time consuming process and was invaluable to the implementation of the new lease standard.Kim C.Read the full review
Cons
  • It is hard to find something I dislike about the software.Gary P.Read the full review
  • George, with LeaseQuery, read all of our leases and put the information into LeaseQuery for NO additional cost.Sarah M.Read the full review
  • During implementation it was difficult to manually upload roughly 200 leases from our old system.Evelyn A.Read the full review
100%
recommended this to a friend or a colleague
Gary Podris

LeaseQuery has made it extremely easier to track all of our leases.The transition was smooth as well

Used daily for 6-12 months
Reviewed 2018-06-11
Review Source: Capterra

Having all of our leases in one place and NOT a spreadsheet has saved considerable amount of time and effort having to get ready for the new accounting changes.

Pros
LeaseQuery is pretty user friendly but if a question does ever come up, the customer service team are offering help and suggestions within moments.

Cons
LeaseQuery has made tracking our leases so much easier and the monthly updates keep improving the process. It is hard to find something I dislike about the software. When we first implemented the software, there was not a way to delete reports that had been created and saved. Other than that, the software has been a joy to work with.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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Missy Whitehill

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.

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!

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Adrian Rodriguez

Amerant Bank loves LeaseQuery!

Used weekly for 1-2 years
Reviewed 2020-03-23
Review Source: Capterra

Amerant Bank is very satisfied with LeaseQuery. It has allowed us to automate our entire lease process and removed the need to perform very complex calculations in excel. Additionally, we have found the multi-departmental collaboration efforts between our Facilities, Accounting, Internal Controls, and Reporting teams to be seamless.

Pros
The software is very user friendly and has out-of-the box reports that make ASC 842 compliance a breeze. The tool makes lease management and accounting very simple from beginning to end.

Cons
Changing some lease characteristics after a lease has been approved is a little cumbersome as the tool requires the user to re-enter some of those characteristics from scratch rather than just changing one specific field.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Chelsea Rohrer

LeaseQuery- a must for new lease standard

Used daily for 1-2 years
Reviewed 2020-03-11
Review Source: Capterra

LeaseQuery has been wonderful to work with during the implementation of the new lease standard. There were some bumps in the road in the beginning, but that is expected with any new software and implementation of a new accounting standard. The staff are very knowledgeable, quick to respond, and easy to work with.

Pros
LeaseQuery is very user friendly and easy to maneuver around in. I currently enter new/modify/update leases, run entries and reports, upload into our GL system, complete account recs and help our other units with their leases, as well as our auditors. The support staff are quick to address any issues. Overall its a great system that does everything you need to implement the new lease standard!

Cons
One feature that I would like to see added would be the ability to correct a mistake you find after you submit the lease for approval. Right now, the approver would have to reject the lease, for the original person to fix and then re-submit.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Ryan Fink

Review

Used monthly for 1-2 years
Reviewed 2020-03-12
Review Source: Capterra

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

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 7/10

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Jay Taylor

LeaseQuery - a Successful Accounting Tool

Used weekly for 6-12 months
Reviewed 2020-03-22
Review Source: Capterra

- Overall, so far very happy with LQ, especially with Customer Service which has been a very helpful resource any time a question surfaces - big or small

Pros
- Customer Service has been a constant source of help in learning and implementing the software - Loading leases is straightforward, with helpful toggles that make it easy to enter leases with constant payments, leases with payments that vary in a pattern (e.g., subject to steady escalation) and leases with random payments (e.g., office leases with periods of free or reduced rent) - Ability to easily attach lease schedules, memos, analyses, etc. to each lease - Internal control feature that requires independent entry and approval of each leases - Easy web-access with just a few clicks - Automatic operating vs finance lease analysis (if enter all needed data) or override capability

Cons
- Reporting is somewhat clunky (e.g., customized reports once saved cannot be modified to say, add another attribute) and trial &error involved in learning what attributes are contained within LeaseQuery-provided canned reports. (Told reporting enhancements are coming in near future)

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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SANDHYA CHAKRAPANI

Great Compliance Tool

Used occasionally for 2+ years
Reviewed 2020-03-27
Review Source: Capterra

Partnering with the right people in LQ was the single most rewarding move in terms of getting our voices heard. Our CSM is very receptive and responsive to our questions, problems and comes up with ways to help us in a timely manner.

Pros
The LQ team that helped throughout the implementation process as well as the Customer Success Manager (CSM) who assists us post implementation. No software is perfect and at the end of the day, the people who hang in there with you as you battle the quirks or custom needs makes a product great!

Cons
As with most software, there is some level of customization. We are a March year end client and there were some features that were not adjusted to meet our needs which led us to use excel a lot in the adoption year. LQ has made great strides in fixing these issues.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Mike Vanscoy

LeaseQuery - the right tool for lease accounting

Used daily for 1-2 years
Reviewed 2019-12-17
Review Source: Capterra

LeaseQuery has proven to be relatively easy to implement and user engagement has been high. They are constantly improving the product and address help requests or issues in a timely manner.

Pros
The tool met the accounting and reporting requirements of the new standard and solved the most challenging aspect of ASC 842 that we expected, which was the consolidation and reporting of leases across multiple currencies with varying discount rates.

Cons
It would be helpful to have the ability to combine certain components into more consolidated reports (i.e. asset and liability rollforwards into one report).

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Jessica Pegram, CPA

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!

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.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Mandy R

Very Functional!

Used weekly for 1-2 years
Reviewed 2020-03-11
Review Source: Capterra

Overall the experience has been great. If we resorted to using excel, we would of had many mistakes and errors. The software is very straight forward. Running reports is very easy, it has all footnote disclosures you need for reporting. You can create custom reports which is helpful. Also running the journal entry's every month is easy. We have no had any issues with accuracy either.

Pros
Implementation was very straight forward. The project manager assisted with every step of the way. It is very easy to store all of the information and run all of the footnote disclosures and journal entrys on a monthly basis.

Cons
The journal entry customization took longer to finalize than expected

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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Mike Shaw

Lease Query is my lifeline to maintaining sanity when dealing with over 70 Property Leases.

Used weekly for 1-2 years
Reviewed 2018-03-20
Review Source: Capterra

Pros
Prior to LQ, Excel SS was my tracker for Leases. Countless hours spent on updating Lease extensions, contact info. deferred rent calculations and the worry of misstating financials with a simple oversight or formula error. Since implementing LQ, many of those worries and doubts have gone away. LQ has built in checks and balances to eliminate many common oversights and errors that can easily occur when maintaining Excel SS. The Customer Support you get with LQ is exceptional. The newly implemented online chat box is an invaluable, no cost upgrade. On the spot answers to questions you may have when working in the software saves valuable time by not having to make or wait for a return call to simple question you may have. One of the things I like most about the software is the reporting tool. With just a few clicks you can customize a report to include square footage, cost per foot, rent per Mth, etc. Landlord, Property Mgnt. info. If you enter info. into the system, you can get a report for it. As for Value for Money, I would give it 100 Stars if possible. What this software offers and does for you, it is well worth the small investment. You will save more on Time, Labor and Effort after implementing LQ than what you will spend on the software.

Cons
The software needs an "Undo Button". With the requirement of a 2nd approver, which by the way is fantastic feature, once you begin a renewal or modification and discover you did something incorrect, the second approver needs to "reject" the submission before you can correct the error. This has been a recommendation and from what I understand is being developed currently.

Rating breakdown

Value for money
Ease of use
Features
Customer support

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Hayley Little

Great Solution for a Complicated Issue

Used daily for 6-12 months
Reviewed 2016-09-23
Review Source: Capterra

LeaseQuery has been able to provide an accountant's solution to a complicated process. This software not only creates a one stop shop for all lease documents, contacts, dates and financial information, it also creates efficiencies across other departments such as fixed asset location reporting. The software simplifies lease accounting but all the while provides the complex information that is needed for decision making. The team has provided a great product and he backs it up with great service.

Pros
The ability to store all lease information in one spot that is easily found instead of using a folder system on a hard drive. It allows multiple users to query information on the fly.

Cons
I would like to be able to run a report for a specified date without having to save the report first. Reporting functionality is still evolving and I believe it will keep improving.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Kim Croucher

LeaseQuery Review

Used monthly for 2+ years
Reviewed 2020-03-26
Review Source: Capterra

Overall I am happy with LQ. The software has automated what was a very time consuming process and was invaluable to the implementation of the new lease standard. The customer service has been very helpful and quick to respond when questions or issues have come up. LQ staff are very knowledgeable and easy to work with.

Pros
LeaseQuery is intuitive an easy to use. It enables us to our leases and supporting documentation all in one place and not in spreadsheets. The software automates our lease calculations and disclosures saving time and reducing the potential for errors.

Cons
There have been a few instances that required a lease to be re-entered to resolve a system issue. We also had an issue with an impairment at year end. In both instances customer service quickly responded and re-entered the leases on our behalf.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Joan Smith-Schrenk

Senior Manaer Financial reporting and Compliance

Used monthly for 1-2 years
Reviewed 2017-02-22
Review Source: Software Advice

The LeaseQuery software is easy to use and I was able to get up to speed rather quickly. It calculated the impact of the new lease pronouncement so that I could show the CFO and VP of Finance. I have recommended this product to others as I love the cloud-based feature of it as well. It organizes all of your leases in one place.

Pros
Organization of leases, prepare journal entries for monthly close, prepares the impact of the new lease pronouncement for the CFO. Our Big 4 CPA firm recommended a product that organized all of our leases in one place and Leasequery does that.

Cons
We use a slightly different method for amortization on some of our leases but it is not really a con as our property accounting system actually records the amortization for our leases. LeaseQuery uses the life based on the lease which works for many companies.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Sam Volkmer

Very approachable. The possible time savings in the automation and records-keeping is tremendous.

Used daily for less than 6 months
Reviewed 2018-03-15
Review Source: Capterra

Pros
-Once you know where everything goes, it is easy to remember and use over and over again. -The automation settings, alerts, and logic that you can set up are very customizable and have a lot of utility. -Easy to correct errors and reassess previous contracts. -Glad to hear that a CPI tool will be integrated soon!

Cons
-There are still occasional bugs and kinks, but nothing that crashes the system. -The pop up calendars, reminders, and autofills can be a bit too overbearing and helpful.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 8/10

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Jessica Schlink

Great Lease Accounting Solution

Used weekly for 1-2 years
Reviewed 2020-03-26
Review Source: Capterra

Pros
LQ has been very easy to use and we have been able to seamlessly integrate the software into our day to day business practices.

Cons
Some of the reporting feels a tad clunky and I wish the export functionality was better (i.e. better format). These aren't huge roadblocks though, and we are able to ultimately get the data that we need.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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Morgan Snipe

Efficient, helpful, easy to use

Used weekly for 1-2 years
Reviewed 2018-04-05
Review Source: Capterra

Pros
The software has helped ease the tracking of our operation and capital leases. It has also eased the pain of making monthly entries to our ledger.

Cons
There are a few reporting flaws that could be addressed. We have to manually look up items related to base rent and other contractual payments by lease.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 8/10

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Evelyn Andre

LeaseQuery Review

Used monthly for 1-2 years
Reviewed 2020-03-20
Review Source: Capterra

Pros
The best functionality about this software is how user friendly it is. It is very easy to use and if you have difficulties there are step by step procedures on the website to assist you along with a quick response time from the support staff. In addition, LeaseQuery has all necessary disclosure reports readily available. When it comes time for Quarter filing, these reports are very useful.

Cons
During implementation it was difficult to manually upload roughly 200 leases from our old system. Once all leases are input, it is easy to maintain updates. Some exporting reports need to be modified in excel to format our system.

Rating breakdown

Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Anonymous

LeaseQuery is great for CPA's of all kinds!

Used monthly for 2+ years
Reviewed 2018-10-03
Review Source: Capterra

Since our company handles bulk leases on various properties, this software has made it very easy to grasp the situation.

Pros
This software makes accountant's jobs easier when it comes to lease accounting. Since the recent changes in leasee/leasor accounting, this software has been able to help the team understand various aspects of this challenging topic.

Cons
There were very few items to list as "cons" for this software. I suggest a little more user-friendly interfaces. But other than that, nothing to note.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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Trista Land

LeaseQuery made accurate lease accounting possible for us.

Reviewed 2016-04-25
Review Source: Software Advice

Pros
The ease of month end journal entries and audit are invaluable. The team is always available and proficient.

Cons
It can be challenging to keep CAM costs updated. Updates come at different times from Vendors so this has to be diligently maintained.

Rating breakdown

Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Ross Harrison

LeaseQuery review

Used weekly for 1-2 years
Reviewed 2020-03-30
Review Source: Capterra

Positive experience, from setting up all our leases on adoption of ASC 842 to running monthly and quarterly reports, LeaseQuery has been easy to follow.

Pros
Easy to use, especially the reporting functionality.

Cons
Sometimes understanding what is going on "behind the curtain" takes trial and error.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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Susan Chau

Great lease accounting tool

Used monthly for 1-2 years
Reviewed 2020-04-02
Review Source: Capterra

LeaseQuery is a great accounting tool that has helped our company in implementation of the new lease accounting standard. The supporting teams are very knowledgeable and quick to response to any question we have encountered.

Pros
LeaseQuery is very user friendly and provides all the necessary functions that needed from lease renewal, lease modification, lease termination and email reminder of lease expiration. It provides good audit trials and easy to use accounting month end Journal entries. Also it provides all the quarterly disclosure reporting.

Cons
Making change on the monthly payment that will require to re-enter all field again.

Rating breakdown

Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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John Nichols

Tupelo Honey Cafe Property Lease

Reviewed 2016-04-26
Review Source: Software Advice

Pros
The LeaseQuery staff are very responsive to our requests and changes. The software assists in managing our property leases easy and efficient. The monthly reports help with the preparation of our lease liability roll forward; which drives our monthly journal entries.

Cons
Updating lease information for CAM adjustments seems cumbersome.

Rating breakdown

Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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Sarah McMillan

LeaseQuery made my job so much easier!

Reviewed 2015-05-31
Review Source: Capterra

Initially, I was skeptical that a system could keep track of our company's leases. Every lease was different and complicated. Some had tenant improvement allowances, others had free months rent, and most were very difficult to understand. George, with LeaseQuery, read all of our leases and put the information into LeaseQuery for NO additional cost. He was available for consulting, was years ahead of our external auditors in terms of lease knowledge and financial reporting, and walked us through his easy-to-use system. George and LeaseQuery saved our company time, money, and resources!

Rating breakdown

Ease of use
Customer support

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Denise Acklin

LeaseQuery Review

Used daily for less than 6 months
Reviewed 2016-09-23
Review Source: Capterra

Our company recently started using LeaseQuery to help manage the growing number of leases that we have. Their software has helped make our processes much more manageable and efficient and it has exceeded our expectations. They are always available and very responsive too. We are so glad that we found them!

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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