LeaseQuery releases lease accounting solution LeaseGuru
LeaseQuery has released LeaseGuru, a cloud-based lease accounting solution for companies with a lease portfolio of under 10.
The new solution is powered by the company’s original lease accounting product, eponymously named LeaseQuery, but is tailored to businesses with smaller lease portfolios, allowing them to more cost effectively run disclosure reports for ASC 842 and IFRS 16 and make changes to leases at any stage. LeaseGuru provides amortization schedules, journal entries, accountant-approved calculations and more.
“Public and private companies are being mandated to comply with the most extensive lease accounting standards in more than four decades,” said George Azih, CEO and founder of LeaseQuery, in a statement. “These new standards are too complex for basic spreadsheets, even for the smallest lease portfolios. LeaseGuru offers small businesses a powerful lease accounting solution that facilitates confident compliance.”