Accounting technology company places keen emphasis on supporting public organizations to achieve lease accounting compliance
ATLANTA, September 8, 2022 – LeaseQuery, a leading provider of software built to simplify the complexities of accounting, today reported its expanded investment in the public sector through key product enhancements, event attendance and GSA schedule announcement.
As the public sector dedicates a large portion of its lease accounting focus to GASB adoption and mandatory compliance deadlines, LeaseQuery proves itself a trusted partner in the accounting space. Along with its unmatched in-house accounting expertise and commitment to product innovation, the company is making significant strides to support the public sector.
Recently, LeaseQuery added its lease accounting solutions to the U.S. General Service Admission (GSA) schedule through an alliance with Cherry Bekaert, extending the company’s availability to federal, state, local and educational markets. Joining Cherry Bekaert on this schedule deepens the relationship, providing many dependable offerings for the public sector.
From a product perspective, the company continues to add new functionality to support the public sector’s unique needs, including:
- Fund accounting to support both the modified accrual and full accrual accounting GASB entities require, as well as assist with converting from modified to full accrual for year-end reporting
- Modified accrual accounting to help GASB entities create both modified accrual and conversion journal entries for GASB 34-compliant financial statements
- GASB 96 updates that include accounting and reporting functionality specific to the GASB 96 standard, keeping the lease and SBITA populations separate
- Chart of accounts to increase efficiency for entities with multiple funds, functions or departments to allocate leases across the organization
- Custom reporting improvements that allow users to leverage accurate lease data to assist organizations in analyzing and monitoring budget reporting
For the remainder of 2022, LeaseQuery is focused on being available to public sector accounting and financial professionals wherever they are. LeaseQuery will be represented at the following: Government Finance Officers Association (GFOA) meetings in Washington (Sept. 14-16), New Jersey (Sept. 20-22), Tennessee (Sept. 21-23), and Georgia (Oct. 2-5).
“With our new GSA schedule, Cherry Bekaert looks forward to expanding our alliance with LeaseQuery to be a trusted advisor to Federal agencies in addition to state and local organizations,” said Danny Martinez, Cherry Bekaert’s Government & Public Sector Accounting Advisory Lead. “Our strong expertise in government accounting and compliance advisory services paired with LeaseQuery’s leading software provides a comprehensive lease accounting implementation solution for all forms of governments.”
“Supporting the public sector has always been a keen focus for LeaseQuery,” said LeaseQuery CEO and founder, George Azih. “However, we are thoroughly committed to extending our support – via technology, educational opportunities, and partnerships and certifications – now more than ever to ensure our customers are on the path to lease accounting success even beyond compliance.”
To learn more about LeaseQuery’s technology offerings, visit LeaseQuery.com.
LeaseQuery makes accountants’ lives easier by simplifying the complex with technology. More than 28,000 financial professionals globally rely on our cloud-based, CPA-approved solutions and in-house accounting expertise to comply with confidence across various FASB, GASB and IASB accounting standards. Our software helps businesses minimize risk, increase efficiency and reduce costs. Learn more about LeaseQuery’s core accounting solutions, which focus on easing mandatory compliance under ASC, IFRS, and GASB regulations, or explore additional accounting tools. For more information, visit LeaseQuery.com.