Avis clients sur LeaseQuery

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

Commentaires : 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!

Avantages :

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!!!

Inconvénients :

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.

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

Avantages :

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.

Inconvénients :

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.

Lease Accountant

Commentaires : Overall LeaseQuery is a great software that can fill your GASB 87 & 96 gaps.

Avantages :

I like the user-friendly Dashboard and navigation capabilities along with the streamlined process of being able to create/edit new and existing leases as well as report generation.

Inconvénients :

LeaseQuery does not directly integrate with our accounting software so a separate true-up and reconciliation process is needed to make sure both the General Ledger and LeaseQuery are in line.

LQ Review

Avantages :

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

Inconvénients :

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

Incredibly intuitive and user-centric — perfect for Lease Accounting requirements

Commentaires : 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.

Avantages :

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.

Inconvénients :

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.

Ease out your Lease accounting

Avantages :

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

Inconvénients :

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.

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

Commentaires : 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.

Avantages :

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

Inconvénients :

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.

Ease of Use

Commentaires : After the initial the program has worked perfectly for our needs.

Avantages :

All reports that I need can be transferred to Excel.

Inconvénients :

Transferring information from our leases to LeaseQuery.

Awesome accounting and software management software

Commentaires : Overall it is very nice software up to our expectations and requirements

Avantages :

lease query is awesome it allows us to follow compliance of accounting with ease and its other tools like software management helped us optimize our spend.

Inconvénients :

sometimes it lags a bit when doing heavy tasks simultaneously

LeaseQuery: Automating Complexity and Delivering Efficiency

Commentaires : It has saved lot of time and manual works for us and. The best part of LeaseQuery is the way it handles the complex calculations and disclosures automatically.The customer support team is also very quick to  to respond to our inquiries and provide helpful solutions.

Avantages :

It's interface is easy to navigate, even for those who may not have extensive accounting experience.

Inconvénients :

I have used it for quite a long time in my current organisation and haven't faced any such Challenges

Great Value for your money

Commentaires : 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.

Avantages :

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.

Inconvénients :

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.

Amerant Bank loves LeaseQuery!

Commentaires : 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.

Avantages :

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.

Inconvénients :

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.

A Game Changer for Lease Management and Accounting!

Commentaires : 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.

Avantages :

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!

Adopt FASB 842 and IFRS 16 with ease, efficiency & effectiveness

Commentaires : One of the items we encountered that were considered a "one-off" was the proper treatment of an intercompany lease with an attached loan instrument.The team at LeaseQuery is comprised of subject matter experts in all departments, including accounting, engineering, and product development. As a client, I'm sure their solution will aid any organization with the transition to the new standards and stay compliant.

Avantages :

When adopting the NEW FASB 842 and IFRS 16 lease standards came into scope, we interviewed several software providers, and LeaseQuery hit every one of our "Must Have" boxes. For our team, we have managed 583+ leases through LeaseQuery over the past three years; we have not encountered any issues.

Inconvénients :

LeaseQuery makes the best lease accounting software platform on the market to help companies easily comply with FASB 842 and IFRS 16 lease standards.

LeaseQuery- a must for new lease standard

Commentaires : 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.

Avantages :

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!

Inconvénients :

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.

LeaseQuery - a Successful Accounting Tool

Commentaires : - 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

Avantages :

- 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

Inconvénients :

- 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)

An excellent tracking program with an exteensive Knowledge Base

Commentaires : Great!

Avantages :

I believe the knowledge base has been most impactful to myself as a user. It's not just a step by step guide to data entry; it explains the accounting and how the process takes care of the accounting. I also like the payment schedule options. Every lease is a different situation - and LeaseQuery has many options for entering payment schedules.

Inconvénients :

I would like to see more information about recommendations for putting together policies and procedures. And maybe some internal controls on functionality. Things our auditors are going to want to know all about.

Great Product and Excellent Customer Service

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

Avantages :

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.

Inconvénients :

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.

Great Compliance Tool

Commentaires : 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.

Avantages :

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!

Inconvénients :

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.

LeaseQuery - the right tool for lease accounting

Commentaires : 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.

Avantages :

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.

Inconvénients :

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).

Great Solution for a Complicated Issue

Commentaires : 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.

Avantages :

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.

Inconvénients :

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.

Helpful customer service

Commentaires : With LeaseQuery, lease cash outflows are simple to track via various reports. Lease portfolios can be well managed and any expirations easily tracked. I appreciate the customer service team that continues to make wanted updates to the system whether it is an individual lease issue or wide system change. Over the 2 years our company has been using this system, the experience has been positive and educational.

Avantages :

Once all the leases were identified and entered into LeaseQuery, the system very easily runs the needed monthly reports. The reporting studio is user friendly and helpful for repeated requests.

Inconvénients :

Since our leases were entered before the new standard adoption many changes have been made to the system which makes the older leases a little tricky to update.

LeaseQuery Review

Avantages :

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

Inconvénients :

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

We're off to a good start with this software.

Commentaires : 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.

Avantages :

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.

Inconvénients :

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.

Very Functional!

Commentaires : 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.

Avantages :

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.

Inconvénients :

The journal entry customization took longer to finalize than expected