LeaseQuery is a web-based lease accounting management software that enables businesess to track their leases, get alerts for renewal deadlines, provide journal entries and financial disclosures, calculate straight-line amortization (GAAP), and prevent overpayment of rent. It prepares journal entries for deferred rent and TI allowances, sends alerts for renewal deadlines, and provides the ability to create multiple reports.
The software sends users reminders of critical dates such as renewals, expirations, and custom dates. Users can assign different tasks to employees under multiple leases, along with “complete by” dates.
LeaseQuery allows users to store and organize documents in any format (PDF, Word, Excel) in one searchable database. It has a powerful search engine which enables users to locate documents quickly and easily.
LeaseQuery provides the Commitments reports required in the MD&A and the Commitments and Contingencies reports required in notes for GAAP. Users can further create their own customized reports with any attribute. The software supports data integrity by ensuring all leases entered are approved by another person. Each lease has an audit trail, disclosure, and approval.
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.
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!
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.
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.
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.
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.
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.
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.
LeaseQuery is pretty user friendly but if a question does ever come up, the customer service team are offering help and suggestions within moments.
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.
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.
Contact vendor for pricing
• With LeaseQuery, users can create custom fit reports by adding custom metrics or attributes to the system.
• Documents of any type can be uploaded into one searchable database.
• Users can create custom dates for any lease.
• LeaseQuery provides access to lease documents and information from any location.
• Users can set different tasks under multiple leases.
Voici quelques-unes des questions fréquentes sur LeaseQuery.
Types de licences disponibles pour LeaseQuery :
Type de licence: Abonnement
version d'essai gratuite: Disponible
Contact vendor for pricing
Fonctionnalités du logiciel LeaseQuery :
Utilisateurs habituels du logiciel LeaseQuery :
Grandes entreprises, Entreprises de taille moyenne, PME
Langues dans lesquelles LeaseQuery est disponible :
Types de licences disponibles pour LeaseQuery:
Nous n'avons pas d'informations sur les appareils pris en charge par LeaseQuery.
Applications s'intégrant à LeaseQuery :
NetSuite POS & Retail Management, Oracle JD Edwards EnterpriseOne, SAP Financials OnDemand
Ressources d'aide disponibles pour LeaseQuery :
FAQ, Support en ligne, Support téléphonique