LeaseQuery - Lease Accounting for NetSuite
LeaseQuery powered by FinQuery is a lease accounting application built entirely inside NetSuite. The solution helps organizations comply with lease management and the lease accounting standards ASC 842, IFRS 16, & FRS 102 to streamline their lease accounting process, and gain insights into their lease portfolio.
Screenshots
Overview
Lease accounting compliance in NetSuite for ASC 842, IFRS 16, & FRS 102
100% built in NetSuite, LeaseQuery for NetSuite lets you ditch your lease tracking spreadsheets and automate and consolidate your lease accounting processes.
Key Benefits
- 100% built for NetSuite and NetSuite native, without the need for integrations or reconciliations with outside systems.
- Calculates schedules including lease payments, lease liability amortization, and right-of-use asset depreciation/amortization.
- Generates journal entries for the initial recognition and subsequent measurement of the lease liability and right-of-use asset.
- Automatically classifies leases as finance or operating, low-value or short-term, and accounts for each accurately.
- Centrally stores lease management information such as vendor, commencement date, renewal options, and other significant contract details.
- Seamlessly integrates with your company's chart of accounts, currencies, vendors, departments, classes, and locations.
- Practical expedient application simplifies the transition to ASC 842 and IFRS 16.
- Automatically generates disclosures with the click of a button.
- Robust lease modification/change reporting and audit trail for confident compliance.
- CPA-approved calculations with more than 40 accountants on staff for numbers you can trust.
Capabilities
- Catch errors before they occur with data validation and duplicate entry prevention.
- Generate reports with the click of a button, including amortization schedules, footnote disclosures, and roll forward reports.
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LeaseQuery - Lease Accounting for NetSuite
