Logistics and Transportation Companies Face High Risks

With so many leases to account for – from warehouses to equipment – the risk of non-compliance is high.

Get step-by-step guidance on what you need to do.

Logistics and Transportation Companies Face High Risks

With so many leases to account for – from warehouses to equipment – the risk of non-compliance is high.

Get step-by-step guidance on what you need to do.

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

What You Need to Know About the New Lease Accounting Standards

To comply with FASB ASC 842 and IFRS 16, your books need to reflect the full extent of your lease obligations. Leases will no longer go in the footnotes of your financial statements. Instead, they’ll go on your balance sheet as liabilities.
To comply with FASB ASC 842 and IFRS 16, your books need to reflect the full extent of your lease obligations. Leases will no longer go in the footnotes of your financial statements. Instead, they’ll go on your balance sheet as liabilities.
Operating leases may need to be reclassified as finance (capital) leases. And you need to look into your service, maintenance, and outsourcing contracts to accurately capture your embedded leases.
And without the right solutions – in terms of expertise and software – you may make errors when trying to address these issues.
And without the right solutions – in terms of expertise and software – you may make errors when trying to address these issues.

Ask the Right Questions

FASB ASC 842 and IFRS 16 require that you scrutinize all your leases and address them properly. To do that, you need to ask the right questions.

FASB ASC 842 and IFRS 16 require that you scrutinize all your leases and address them properly. To do that, you need to ask the right questions.

 

Do you have service agreements for GPS and monitoring on your trucks? Do those contracts contain embedded leases for equipment?

 

Do any of your contracts contain take-or-pay provisions? Have you examined them to determine if they contain embedded leases?

 

LeaseQuery helps you answer these questions.

The Functionality, Flexibility, and Expertise You Need to Comply

Make lease accounting manageable

With LeaseQuery, you can account for and manage all your leases – no matter how complex their nuances are.

  • See journal entries, tasks, critical dates, and reports at a glance.
  • Access all the reports and disclosures required by auditors and the SEC.
  • Get expert advisement from accountants specialized in lease accounting.
  • Rest assured that your data is safe – our SOC testing is being performed by a Big Four firm and we follow industry standard encryption protocols.
  • Integrate with your ERP or general ledger software.

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.

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