LeaseQuery review

LeaseQuery is FinQuery's main lease accounting product and the broadest compliance set on this list for a single subledger: ASC 842, IFRS 16, FRS 102, GASB 87, GASB 96 and the federal SFFAS 54 standard. It produces journal entries, amortization schedules and the required quantitative disclosures, and handles the scenarios that break spreadsheets, including dual-standard reporting, custom calendars, variable payments, impairments, catch-up adjustments and multi-currency remeasurement. Controls are a strength: role-based access, an audit trail with lease change history, duplicate entry prevention, locked journal entries and read-only auditor access, backed by SOC 1 Type 2 reports issued twice a year. FinQuery says it integrates with any general ledger, naming NetSuite, Infor, Acumatica, Sage, Microsoft, SAP, QuickBooks and Workday, and it also sells a version built inside NetSuite. Support includes daily office hours with lease accounting analysts and more than 40 accountants on staff. The main drawback is that pricing is only available on request, so budget owners must go through sales.

Who it is for

Mid-sized and large finance teams with growing lease portfolios

Price

See vendor pricing (USD check pending).

US price check pending. See the vendor pricing page.

Key features

• Journal entries, amortization schedules and all required quantitative disclosures out of the box
• Compliance for ASC 842, IFRS 16, FRS 102, GASB 87, GASB 96 and SFFAS 54
• Dual-standard reporting, multi-currency translation and remeasurement, impairments and variable payments
• Over 100 standard reports plus a reporting studio for custom templates
• Integrations with NetSuite, Infor, Acumatica, Sage, Microsoft, SAP, QuickBooks and Workday, or ledger-agnostic journal entries

Strengths and weaknesses

• Strength: SOC 1 Type 2 reports issued twice a year on its internal controls
• Strength: More than 40 accountants on staff and daily office hours with lease accounting analysts
• Strength: Read-only auditor access and locked journal entries support the audit
• Weakness: Pricing is quote-only through a request form
• Weakness: Portfolios of 15 leases or fewer can use the cheaper LeaseGuru instead
• Weakness: Lease administration tools are lighter than real estate platforms such as Occupier

Key facts

• Standards: ASC 842, IFRS 16, FRS 102, GASB 87, GASB 96, SFFAS 54
• Users: 8,700+ using FinQuery, per the vendor
• Reports: 100+ standard reports
• Controls: SOC 1 Type 2, issued bi-annually

Where it ranks

LeaseQuery is No. 1 in our Best Lease Accounting Software verdict.