Retail and Restaurant Lease Accounting Software Solution

Comply with FASB ASC 842 and IFRS 16 with ease

Retail and Restaurant Lease Accounting Software Solution

Comply with FASB ASC 842 and IFRS 16 with ease

The Risks Faced by Retailers and Restaurants

With a high volume of leases ranging from equipment to real estate, the risk of non-compliance is high.

To learn how to transition and maintain compliance, download our step-by-step guide.

 

The Risks Faced by Retailers and Restaurants

With a high volume of leases ranging from equipment to real estate, the risk of non-compliance is high.

To learn how to transition and maintain compliance, download our step-by-step guide.

 

We Ensure You Comply Fully with FASB ASC 842 & IFRS 16

The Challenges of the New Lease Accounting Standards

FASB ASC 842 and IFRS 16 require that you stop recording leases in the footnotes of your financial statements and start recording them on your balance sheet as liabilities. In short, your books need to reflect the full extent of your lease obligations.
FASB ASC 842 and IFRS 16 require that you stop recording leases in the footnotes of your financial statements and start recording them on your balance sheet as liabilities. In short, your books need to reflect the full extent of your lease obligations.
You need to re-examine your leases to determine if they should be classified as operating or finance (capital) leases. You also have to re-evaluate your service, maintenance, and outsourcing contracts to determine if they contain embedded leases.
That’s why you need the right solutions – in terms of expertise and software
– to prevent making errors.
That’s why you need the right solutions – in terms of expertise and software
– to prevent making errors.

Ask the Right Questions

FASB ASC 842 and IFRS 16 obligate you to scrutinize all your leases to ensure you address them properly. That process starts with asking the right questions.

Does your real estate lease include a tenant improvement allowance? Are you prepared to transition your existing build-to-suit arrangements?

Do your credit card processing agreements contain leases for point-of-sale machines?

 

Does your real estate lease allot parking spaces specifically for your business? If so, have you allocated for those as part of your lease accounting?

 

LeaseQuery helps you answer these questions.

The Software and Expertise You Need
to Comply

LeaseQuery is the solution you
can trust

  • Your leases may be complex, but LeaseQuery makes accounting for and managing them simple.
  • Access journal entries, tasks, critical dates, and reports at a glance.
  • Obtain the disclosures and reports required by regulators and auditors with ease.
  • Rely on our lease accountants for expert advisement.
  • Operate more efficiently by integrating LeaseQuery with your ERP or general ledger software.
  • Rest assured that your data is safe – our SOC testing is being performed by a Big Four firm and we maintain industry standard encryption protocols.

LeaseQuery Ensures You Comply—
in January 2019 and Beyond

LeaseQuery offers you the functionality, flexibility, and expertise that enables you to adequately account for all your leases under FASB 842. From the moment you start implementation, you’ll be supported by accountants who specialize in lease accounting.

Our Clients Explain Our Lease Accounting Solutions Best

"It took a time-sucking, life-sucking process and turned it into the click of a button"

Trista — Controller at National Healthcare Organization

"LeaseQuery is years ahead of our external auditors in terms of lease knowledge and financial reporting, saving our company time, money, and resources."

Sarah M. - Tupelo Honey Hospitality Corporation

"We are able to instantly pull up all of the details on any given lease with only a couple of clicks. "

Missy W. - Scotland Wright Associates

 

"The time and productivity savings cannot even be put into words for a team with such stretched bandwidth like ours."

Trista L. – PT Solutions

 

"This is a breath of fresh air for an occupation that’s usually treated with bored stares, long sighs and slow blinks...I was actually liking lease accounting for the first time in eight years."

Anna K. – Publicly Traded Insurance Company

 

Talk to One of Our Expert Lease Accountants Today.

Unlike other software vendors, we aren't former real estate professionals trying to learn accounting on your dime. We're accountants just like you.

Sign up for a demo today and let us prove it.