The Accounting Software of Choice for Educational Institutions
Security and Controls
LeaseQuery engages a Big 4 accounting firm to test internal controls bi-annually and issue two SOC 1 Type 2 reports per year, facilitating a smooth audit and compliance with ASC 842, GASB 87, GASB 96, & legacy guidance.
Reports and Disclosures
All of the required disclosure reports for ASC 840 & 842 and GASB 87 & GASB 96 are ready for use out of the box. End users also have the ability to create unlimited custom reports in LeaseQuery’s easy-to-use reporting studio.
Contract Upload and Management
Our cloud-based central repository keeps everything related to lease contracts and SBITAs in one place, providing read-only to full-function access to colleagues and auditors.
Your Guide to a Compliant Transition
Simplify adoption of the accounting rules for educational institutions
The software that schools rely upon is moving from the desktop to the cloud and must be accounted for differently. GASB 96 defines Subscription-Based IT Arrangements (SBITAs) and establishes uniform accounting for them so government entities can provide their stakeholders with a consistent and transparent view.
Adopting this standard requires implementing a whole new method of accounting, not just updating legacy GASB. Our guide outlines the steps to prepare for the new standard. Fill out the form to download the resource now.
Free RFP Templates for Evaluating ASC 842 and GASB 87 & 96 Software Solutions
Use our free Excel templates to gather detailed responses from every vendor you’re evaluating.
LeaseQuery’s technical accountants are experts on the new lease accounting standards and GASB 96, with hands-on experience assisting educational institutions in transitioning to the new rules. To help you with your search for an appropriate software solution, we’ve created this detailed RFP template that’s a must-have for university systems, school districts, and others reporting under FASB and/or GASB.
The RFPs contain several sections that identify the considerations related to vendor capabilities, technical accounting compliance, additional functionalities and pricing.