Showing 14 reviews of 7

UGAAP

Authoritative Lease Accounting Compliance Tool

4,7 /5 (7 reviews) Write a Review!

Overall rating

4,7 /5
  • Value for Money
  • Ease of Use
  • Customer Support
  • Features
100%
recommended this app
Showing 14 reviews of 7
Verified Reviewer
Overall rating
  • Industry: Banking
  • Company size: 1 001-5 000 Employees
  • Used Other for Free Trial
  • Review Source

Overall rating

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

UGAAP Lease Accounting Software Review

Reviewed on 2019/06/06

Pros

We did demos with a number of providers of lease accounting software, UGAAP is by far the most efficient software there is. This is a software dedicated to accounting and reporting. They have CPA firms as their clients. We did not want to mess with the unnecessary property management type of work. We just wanted the software for GAAP compliance. And this is exactly what we need. Their staff is professional and experienced in implementation, and has been really helpful. Lease accounting has been touted as a hot anxiety point for so many years. Some provider has to figure out something elegant to streamline the process, the calculation and presentation. We think this one foots the bill really well.

Cons

So far I have not found any yet, we would like to get more users to test the software so we can get a feel on it s performance.

Verified Reviewer
Overall rating
  • Industry: Accounting
  • Company size: 10 000+ Employees
  • Used Weekly for 1-5 months
  • Review Source

Overall rating

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

Easy to use and low cost

Reviewed on 2019/05/11

Pros

A few of our clients use USGAAP lease accounting software. It is a quick and dirty tool that gets the job done. The ASC 842 adoption date amortization schedules, journal entries, and SAB 74 reports are surprisingly easy to generate. It is apparent their software is designed by someone with years of GAAP experiences in research and in practice. The tool provides tips for users as they use it. I can see accounting firms use USGAAP software to manage client lease portfolio, or even as part of lease accounting audit tool. It is always good a complex accounting area made so easy by a tool like that.

Cons

Nothing to mention at this point of time.

Irene Y.
Overall rating
  • Industry: Oil & Energy
  • Company size: 10 000+ Employees
  • Used Monthly for 6-12 months
  • Review Source

Overall rating

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

Easy to use and low cost

Reviewed on 2019/05/01

Fantastic, stress free, no annual subscription fees.

Pros

UGAAP software provides straightforward accounting deliverables in an easy to follow way. Disclosure reports and journal entries meticulously complies with the Codification. Calculation tool for implicit rate is fantastic. The implementation was quick and mostly stress free. We also like the fact that there's no annual subscription fees. It makes our lease accounting a much simpler task than it could have been.

Cons

Nothing I can mention at this moment.

Response from UGAAP

Thank you for the positive comment. We are pleased to provide value for easy accounting compliance.

Chris C.
Overall rating
  • Industry: Banking
  • Company size: 201-500 Employees
  • Used Weekly for 1-5 months
  • Review Source

Overall rating

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

Easy to implement

Reviewed on 2020/09/19

Customer Service was real helpful in getting me started and explaining the whole process.

Pros

Easy to setup chart of account and implement the software.

Cons

Nothing as we purchased it for accounting purposes.

Danielle D.
Overall rating
  • Industry: Financial Services
  • Company size: 51-200 Employees
  • Used Monthly for 1-5 months
  • Review Source

Overall rating

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

Thankful for UGAAP

Reviewed on 2020/09/04

UGAAP is helping me do the proper accounting for ASC 842.

Pros

The software is user friendly and straightforward. [SENSITIVE CONTENT HIDDEN] has guided me through the software and has been a great help. He has been very accommodating with setting up training sessions and has a great approach to teaching the software.

Cons

I have found nothing that I dislike about the software.

Verified Reviewer
Overall rating
  • Industry: Electrical/Electronic Manufacturing
  • Company size: 5 001-10 000 Employees
  • Used Monthly for 6-12 months
  • Review Source

Overall rating

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

Big bang for the bucks

Reviewed on 2019/10/29

We use this software to tackle the necessary evil of having to comply with the new lease accounting standard. We are able to use the help of UGAAP to achieve what we were hoping to do. We knew from the demo this would work because they use our actual leases in the demo.

Pros

Meet the compliance needs if that's all you care about. Easy to use after a little bit of training. The intuitive and direct approach in lease modifications. Strong technical accounting. Good for accountants and financial reporting professionals. Willing to customize for our special requests. One-time fee for a permanent license, not bad at all.

Cons

Needs a bit of training to get around. Light in lease administration features, so this is probably not a piece of software for the property department if that's the focus, though it does have interesting expiration alert and lease vs buy analysis functions.

Tina D.
Overall rating
  • Industry: Government Administration
  • Company size: 11-50 Employees
  • Used Monthly for 6-12 months
  • Review Source

Overall rating

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

Has Saved Me Lots of Time

Reviewed on 2020/07/13

Manually calculating the amortization tables for 60+ leases and manually figuring out their journal entries monthly would have taken days. UGAAP enables me to get the journal entry completed in about 15 minutes.

Pros

This software takes away the headache of trying to calculate, track, and record GASB 87 lease transactions. Once the lease is entered, UGAAP calculates the amortization tables, and all I have to do monthly is print the journal entry details, summarize them, and post them into my GL.

Cons

I am not familiar with Access databases, so it took me a bit to figure out some tricks. UGAAP tech support was very helpful when I had questions.