ATLANTA–(BUSINESS WIRE)–LeaseQuery, a market leader in lease accounting software, grew their 2017 yearly revenue by more than 876% solving a $2 Trillion problem for their clients. While the new lease accounting standards issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) may have burdened most companies by shifting an estimated $2 trillion to their balance sheets starting in 2019, LeaseQuery has thrived. To help their clients properly account for this balance sheet shift they provide an accurate, easy to use, and fully audited lease accounting solution. This Atlanta based company separates itself from the competition by providing a staff of lease accounting experts to their customers in addition to their software.
“2017 was a fantastic year for LeaseQuery across the board, driven by our clients’ need for a purpose-built lease accounting software solution and the ability to work hand-in-hand with lease accounting experts during this complicated transition to the first new lease accounting standard in 40 years,” said Christopher Ramsey, LeaseQuery’s Senior Vice President of Sales.
LeaseQuery, founded in 2011 by a Director of Technical Accounting and Research for a Fortune 500 company, is now the chosen lease accounting solution for clients in almost every industry from medium sized organizations to several names in the Fortune 500.
2017 held several milestones for LeaseQuery:
- 2 new office spaces: LeaseQuery outgrew not only one, but TWO new offices. LeaseQuery is increasing its investment in the Atlanta area by moving to another location in the Perimeter area in Q1 of 2018 to support its growth with space for over a 100 people.
- 31 new employees: To further support their current clients and prepare for new ones on the horizon, the LeaseQuery team has more than doubled in size with multiple new hires coming from the Big 4 Accounting Firms.
- 234,115 Critical Date Notifications Sent: In the LeaseQuery system, critical date notifications alert clients of renewal options, utility tasks, and other necessary items or actions. With almost a quarter of a million notifications sent in 2017, they are helping clients ensure they never miss a payment or renewal again saving 100’s of thousands of dollars.
- 89,397 New Equipment Leases Added: LeaseQuery supports companies in manufacturing, energy, healthcare, and many other industries that require numerous pieces of equipment to operate their business. LeaseQuery’s expert staff and easy to use lease accounting solution make accounting for such a large volume of leases as simple as clicking a button.
- 5.8Mft² in New Building Leases Added: Most of LeaseQuery’s clients have at least a few real estate leases. Their team of lease accounting experts has assisted in the analysis and implementation of these real estate leases to ensure they are accurately recorded.
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LeaseQuery is the first purpose-built lease accounting software solution built by Accountants for Accountants. LeaseQuery helps organizations across all verticals transition too and report compliantly under the Financial Accounting Standards Board (FASB) newly issued standard Topic 842 and the International Accounting Standards Board (IASB) newly issued standard under IFRS 16. By providing Lease Accountants in addition to their software solution, LeaseQuery ensures their clients transition to these new standards goes as smooth as possible. For more information about LeaseQuery, visit https://leasequery.com or call at 1-800-880-7270.