Showing 43 reviews of 32

LeaseQuery

Lease Accounting Software for ASC 842, IFRS 16, & GASB 87

4,8 /5 (32 reviews) Write a Review!

Overall rating

4,8 /5
  • Value for Money
  • Ease of Use
  • Customer Support
  • Features
100%
recommended this app
Showing 43 reviews of 32
Adrian R.
Overall rating
  • Industry: Banking
  • Company size: 501-1 000 Employees
  • Used Weekly for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Amerant Bank loves LeaseQuery!

Reviewed on 2020/03/23

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.

Mike S.
Overall rating
  • Used Weekly for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support

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

Reviewed on 2018/03/20

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.

Chelsea R.
Overall rating
  • Industry: Hospital & Health Care
  • Company size: 10 000+ Employees
  • Used Daily for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

LeaseQuery- a must for new lease standard

Reviewed on 2020/03/11

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.

Chad K.
Overall rating
  • Industry: Banking
  • Company size: 501-1 000 Employees
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Great Product and Excellent Customer Service

Reviewed on 2020/09/15

I would say overall, I am having a good experience with LeaseQuery.

Pros

The fields of options that it allows you to tailor the program to create what you info you need that is specific to your business is great. I also like the you can make up your own reports is endless. The tech department for customer support is high above the others. They are very responsive and get back to you quickly and are very knowledgeable. They also take the time to have training sessions 1 on 1 through zoom and listen to your questions and answer them accurately. It helps you learn how to do things quicker.

Cons

Some times it runs slow, but it's possible it could be our company's networking or connection that makes it slow. It is not constant which is good, but once in awhile it is slow for me.

Nathanael K.
Overall rating
  • Industry: Staffing & Recruiting
  • Company size: 501-1 000 Employees
  • Used Monthly for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Intuitive Lease Accounting Software

Reviewed on 2020/08/31

Pros

We reached out to LeaseQuery shortly after implementation of ASC 842. Before using LeaseQuery, we were manually tracking leases, which took a significant amount of time and resources. Once we made the choice to go with LeaseQuery, initial setup was seamless and we were given a dedicated resource to help us with any questions that came up during implementation. I'm very pleased with how easy it is to use the software and we're happy with the segregation/controls that are in place.

Cons

One thing to be aware of is that the system works better in some browsers over others. I've noticed that it works well with Chrome, but isn't fully compatible with older versions of IE.

Jeffrey C.
Overall rating
  • Industry: Human Resources
  • Company size: 1 001-5 000 Employees
  • Used Monthly for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

The support team at LeaseQuery has been exceptional with overall communication.

Reviewed on 2018/04/12

Compliant lease reporting.

Pros

The software is specifically for accounting so it allows for accurate and straightforward reporting that is compliant with new lease accounting standards. The price is also affordable for any size company.

Cons

I wish there was more separation between the accounting and property management sides. Right now as an administrator I have to approve any changes made to a lease in the system for accounting controls compliance which makes it unusable for our facilities team. There should be free form fields that aren't linked to the accounting functionality of each lease that can be changed by anyone without having to reapprove the lease.

Jessica P.
Overall rating
  • Industry: Financial Services
  • Company size: 501-1 000 Employees
  • Used Weekly for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

LeaseQuery software has improved our process and access to lease accountants adds value!!

Reviewed on 2018/03/26

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.

Mike V.
Overall rating
  • Industry: Accounting
  • Company size: 10 000+ Employees
  • Used Daily for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

LeaseQuery - the right tool for lease accounting

Reviewed on 2019/12/17

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).

Kim C.
Overall rating
  • Industry: Financial Services
  • Company size: 201-500 Employees
  • Used Monthly for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

LeaseQuery Review

Reviewed on 2020/03/26

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.

Sam V.
Overall rating
  • Industry: Financial Services
  • Company size: 1 001-5 000 Employees
  • Used Daily for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 8.0 /10

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

Reviewed on 2018/03/15

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.

Susan C.
Overall rating
  • Industry: Computer Software
  • Company size: 1 001-5 000 Employees
  • Used Monthly for 1+ year
  • Review Source

Overall rating

  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Great lease accounting tool

Reviewed on 2020/04/02

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.

Denise A.
Overall rating
  • Industry: Accounting
  • Company size: 5 001-10 000 Employees
  • Used Daily for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

LeaseQuery Review

Reviewed on 2016/09/23

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!

Chris F.
Overall rating
  • Review Source

Overall rating

  • Ease of Use
  • Customer Support

Easy to Use and Very Helpful

Reviewed on 2015/08/12

Leases are very easy to input into the software and the summary outputs are very helpful.

Ryan F.
Overall rating
  • Industry: Insurance
  • Company size: 501-1 000 Employees
  • Used Monthly for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 7.0 /10

Review

Reviewed on 2020/03/12

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

Dru H.
Overall rating
  • Industry: Broadcast Media
  • Company size: 501-1 000 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Ease of Use
  • Customer Support
  • Likelihood to recommend 8.0 /10

LeaseQuery Review

Reviewed on 2020/09/29

Pros

[SENSITIVE CONTENT HIDDEN] of your customer support team did a fantastic job. She really provided top notch customer service.

Cons

Some areas not as user friendly. Glad that I could always call [SENSITIVE CONTENT HIDDEN]

Jay T.
Overall rating
  • Industry: Chemicals
  • Company size: 1 001-5 000 Employees
  • Used Weekly for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

LeaseQuery - a Successful Accounting Tool

Reviewed on 2020/03/22

- 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)

Hayley L.
Overall rating
  • Industry: Civil Engineering
  • Company size: 5 001-10 000 Employees
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Great Solution for a Complicated Issue

Reviewed on 2016/09/23

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.

Evelyn A.
Overall rating
  • Industry: Banking
  • Company size: 1 001-5 000 Employees
  • Used Monthly for 1+ year
  • Review Source

Overall rating

  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

LeaseQuery Review

Reviewed on 2020/03/20

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.

Ross H.
Overall rating
  • Industry: Oil & Energy
  • Company size: 1 001-5 000 Employees
  • Used Weekly for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

LeaseQuery review

Reviewed on 2020/03/30

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.

Sarah M.
Overall rating
  • Review Source

Overall rating

  • Ease of Use
  • Customer Support

LeaseQuery made my job so much easier!

Reviewed on 2015/05/31

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!