LeaseQuery, a lease accounting software provider, enabled its 600+ clients to use its software with their enterprise accounting solution of choice, including all of the most common options, such as Microsoft Dynamics, Oracle and SAP.
The new lease accounting standards set by the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) require companies to record most of their leases on their balance sheets. For companies with more than 10 leases, experts recommend investing in lease accounting software to save time and prevent errors. Accountants, however, need software they can easily integrate into their existing processes.
“Our mission is to make it easy for companies to fit lease accounting into their regular workflows,” said George Azih, LeaseQuery CEO and founder. “To do that, we offer an 80-day implementation process and we ensure that our system has the flexibility to work with a wide variety of general ledger systems so that our customers can seamlessly integrate leases into their day-to-day work.”
The top five general ledger systems LeaseQuery customers use include:
As a general ledger agnostic system, LeaseQuery enables companies to take advantage of a purpose-built lease accounting solution that complements their existing systems. In this way, the company is living up to its goal of helping companies comply with lease accounting standards with minimal disruption to their business.
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