LeaseQuery powered by FinQuery Reviews & Product Details

FinQuery’s built-in AI automatically extracts information from lease documents and prepopulates key data fields, which not only saves time but also improves accuracy. The amortisation schedules are extremely useful, as they detail the monthly lease payments, interest, liabilities, ROU asset values, and depreciation. These schedules also make it easier to reconcile figures with the balance sheet and income and expenditure accounts. The ability to assign different access levels to users was essential for us and met one of our top requirements. This feature creates a clear audit trail for all entries and approvals, ensuring that a senior team member reviews and authorises any additions or changes before they go live. The Auditor responsibility feature is another valuable addition, and our auditors made good use of it during our most recent external audit.

We found the implementation process quick and pain-free, which we appreciated greatly. Review collected by and hosted on G2.com.

At first, we found it inconvenient that the system used the American date format (month/day/year) instead of the English format (day/month/year). After we brought this up, FinQuery responded quickly and, within a month, introduced an option to select the preferred date format. We were very impressed by this responsiveness. Occasionally, the system experiences minor lag, but this has not been a significant problem for us. One feature we would find particularly helpful is a modelling 'play pit,' as we are frequently asked to model various lease scenarios to support decision-making at the senior level. Review collected by and hosted on G2.com.

The system overall is easy to use, but what I appreciate the most is the consistent excellent customer service. It is extremely easy to submit a ticket, response times are fast and thorough. They also have office hours that you can sign up for with a live agent. Review collected by and hosted on G2.com.

Finquery does a great job at understanding customer needs and then roadmapping them for future improvements. It would be nice to have the approval workflow go through multiple levels of review. This is important to me because we have regional teams that handle day to day lease accounting, but I am the final reviewer of all leases that get entered into the system. Review collected by and hosted on G2.com.

This software has made it incredibly easy to stay on top of all my lease obligations. Everything I need—documents, payment schedules, renewal dates, and payment schedules are all organized neatly in one place.

I also appreciate how transparent and easy it is to review lease terms and track payments. Review collected by and hosted on G2.com.

I haven't found any downsides. It can be a little confusing sometimes trying to figure out how to fix an error or fix something entered incorrectly. Review collected by and hosted on G2.com.

In my current position, I am responsible for SEC reporting, and I have found that LeaseQuery offers an excellent selection of reports tailored specifically to the disclosure requirements of US GAAP. I also appreciate how easy it is to customize reports—whether building them from scratch or making slight adjustments to out of the box reports, the process is best in class. Additionally, we have found the help center resources to be extremely helpful whenever we encounter unfamiliar transactions or face unique situations that do not arise often. Review collected by and hosted on G2.com.

When leases expire, you have a decision to make on how you want to maintain historical records. You will have to pay to keep the leases in the system, or you can pay a reduced fee to archive them. You can also deleted them entirely to remove any fees, but then you lose the ability to view those leases in the future or produce any accurate historical schedules. Review collected by and hosted on G2.com.

LeaseQuery is an excellent platform for managing and accounting for all our building and equipment leases under ASC842. It offers robust controls, allowing for admin users, data entry users, and approvers, which helps maintain proper oversight. The system provides a comprehensive audit trail for every lease entry and any changes made to a specific lease, ensuring transparency. Whenever I encounter an issue, the support tools are quite helpful, and the support team is consistently responsive and knowledgeable. I also appreciate the alert emails for important lease dates, which help keep our team informed about upcoming lease terms and other critical deadlines. The interface is very user-friendly, making navigation straightforward. I value its ability to integrate seamlessly with our Oracle NetSuite software, enabling us to post journal entries with just a click. There are many aspects of LeaseQuery that I enjoy, and it truly makes my job easier, which I greatly appreciate. Additionally, it provides valuable year-end audit reports and serves as a powerful tool for creating custom reports using data from LQ. Review collected by and hosted on G2.com.

I don't have many complaints about LeaseQuery. The main suggestion I have is that it would be very helpful to have the ability to customize which team members receive specific alerts. Personalized alerting would be a valuable feature, as not every notification is relevant to everyone on our lease team. For instance, the accounting department needs reminders about rent increases, while the operations team only needs to be notified about upcoming lease expirations. Review collected by and hosted on G2.com.

LeaseQuery is super easy to use and easy to learn. The support is very responsive to issues and getting things resolved. Love the report studio as it is very easy to create custom reports that assist with everyday needs. Our customer success rep is amazing and is always keeping us in the loop with product enhancements and how best to use the software! Review collected by and hosted on G2.com.

Sometimes the load time in between screens is annoying but not a deal-breaker. Review collected by and hosted on G2.com.

LeaseQuery makes it quick and easy to create amortization schedules for all our leases of all types. The amortization schedules are clean and easy to follow, and upon implementation we were able to test the built in math of the amortization tables to achieve comfort. LeaseQuery continues to improve in features each year, and the interface remains intuitive and simple to use. Review collected by and hosted on G2.com.

Like any software there are quirks in inputs the team will have to learn in order to achieve consistency in calculations and treatment across multiple leases. This may result in certain input conventions regarding rent payment dates and commencement dates which are not immediately obvious. Once the team is done testing however, the system is predictable and reliable. Review collected by and hosted on G2.com.

I enjoy the AI functionality of LeaseQuery powered by FinQuery because it makes entering and understanding leases more efficient and helps identify missing or unclear information in leasing documents. The ability to create amortization schedules is tremendously helpful. I also like how LeaseQuery keeps us informed about lease timelines without needing to revisit the original lease copies. The platform organizes tenant, landlord, and equipment leases across multiple entities into one uniform platform, which is very convenient. Additionally, I appreciate the integration with Sage Intacct through an API. Review collected by and hosted on G2.com.

The AI functionality is currently limited to leases beginning after January 1st, 2022. For leases beginning prior to CY 2022, known in LeaseQuery as 'Legacy' leases, the AI functionality is unavailable and therefore makes entering older leases cumbersome. Review collected by and hosted on G2.com.

LeaseQuery has significantly improved our lease accounting processes at Velora.se. The platform’s automation of complex ASC 842 and IFRS 16 calculations is incredibly reliable, and the structured workflows reduce the risk of manual errors. Review collected by and hosted on G2.com.

The initial implementation required a significant amount of data cleanup on our end, which made onboarding feel a bit heavy at first. The interface is powerful but dense, so new users may need some time to get comfortable navigating the various modules and reports. Review collected by and hosted on G2.com.

User friendly. Very Interactive and they listen to customer feedback. Also, their customer support is excellent. The existing reports are very useful, and the customization features are robust as well. The system is overall very easy to use and understand. The ability to upload multiple leases using an excel file is simply awesome! Review collected by and hosted on G2.com.

Like every system there are some minor quirks, but not anything major. For example, needing to get an approval for changing GL accounts. I think that should be something we can do without having to go through the approval flow. Review collected by and hosted on G2.com.