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, 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!!!

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.

Our initial experience with LeaseQuery was a little difficult as there were many bugs and it sometimes took support a month to fix issues. Fast-forward three years, and it has improved tremendously. They are adding features that are relevant and useful, I have had less issues with the system and support has assisted me much quicker when I have issues. I am overall pleased with LeaseQuery.

When we first began using LeaseQuery I used to say over and over that if I grew to the point that I could trust LeaseQuery reports/balances I think it would be a great product and great value for our money. If I am being honest, it took a few years to get to that level but I feel like I am there now. LeaseQuery provides us with everything we need to track all of our leases and perform the required accounting under ASC 842. We have had a variety of different types of leases with some more difficult accounting and I have not come across a situation that LeaseQuery was not able to address. Many of the newer features such as point in time reporting have helped make the process tremendously easier. I have gained confidence in their reporting and journal entries. It provides us with what we need to complete ASC 842 accounting requirements.

I have had a lot of issues in the past where changes I made in a lease did not carry through correctly to Journal Entries which required a lot of additional steps to validate values LeaseQuery produced. In 2021 I have not had this issue thus far, so I am hoping that means the bugs have been worked out. Reports have recently started taking much longer to run. It is difficult to look up a lease unless you have the Lease ID or know the exact address. It would be nice to have a search function that was a little easier to use. We are required to give our auditors a list of new leases added in the periods and their beginning balances. It would be nice to have a report that does this automatically. Currently I have to create one on my own using the amortization table.

While I might be repeating myself, UI & UX is a standout. I actually had a couple of issues and reached out to their support and it was amazing how much care they took into solving my issues rightaway

Not really a Con, but I'm curious to see how they are going to venture into the AI space and add that to the Arsenal. AI could be very interesting our space.

We rely on reporting to determine ROU and LL. I really enjoy our CSM who is very helpful.

Some of the reports require a lot of effort to create.

Our experience with LeaseQuery throughout the implementation of the new lease standard has been outstanding. While we encountered some initial challenges, which is par for the course with the introduction of new software and the adoption of a revised accounting standard, the team exhibited exceptional proficiency, responsiveness, and collaboration. Their expertise and timely support played a crucial role in facilitating a smooth and manageable transition.

We opted for this software due to its tailor-made and pre-established reporting features, specifically honed for lease management. Its alert system and seamless integration with any ERP system render it effortlessly comprehensible, adhering to a coherent design philosophy. Data security remains paramount, with adaptable validation processes. The interface is polished, boasting top-notch graphics and a location mapping feature that enhances usability. Reports, alerts, and expenses are easily accessible and comprehensible, fostering a sense of confidence in navigating the program. The software's accounting capabilities are robust, simplifying calculations and lease component evaluations. Notably, it incorporates comprehensive international lease standards, adding practicality and security to its repertoire.

Making adjustments to certain lease attributes after approval can be somewhat burdensome, as the tool mandates users to input these characteristics again rather than facilitating modifications to specific fields.