Topic Thread

Lease Accounting software recommendations

  • 1.  Lease Accounting software recommendations

    Posted 07-11-2019 11:41
    I have a client with an extensive number of lease agreements, can anyone recommend a software package for the new lease accounting standard?

    ------------------------------
    Tamra Hamade
    Senior Manager

    ------------------------------


  • 2.  RE: Lease Accounting software recommendations

    Posted 07-12-2019 06:37
    Tamra,

    We use Vista by Viewpoint.  It has a built-in Equipment module, with asset management.  I made a couple small alterations to the depreciation table so it handles lease interest and amortization very easily.  Then I just made an excel spreadsheet to pull the data into a rec for month end.  If your client uses Vista, I could send a summary of the changes and the SQL I used for the interest and amortization.

    ------------------------------
    Scott Luman
    Cfo
    Freestate Electric Company
    Laurel MD
    ------------------------------



  • 3.  RE: Lease Accounting software recommendations

    Posted 07-15-2019 08:40
    Scott, We are on Vista and would be interested in using it for the leasing changes.  Would you mind sharing your summary please?

    ------------------------------
    Sheila McGuire Masters of Accounting
    CFO
    Hutton Corporation
    Wichita KS
    (316) 942-8855
    ------------------------------



  • 4.  RE: Lease Accounting software recommendations

    Posted 8 days ago
    Scott-
    They do use Vista and would greatly appreciate your summary!
    thamade@dmlo.com

    thanks!​

    ------------------------------
    Tamra Hamade
    Senior Manager
    DMLO CPAs
    Louisville KY
    (502) 326-2371
    ------------------------------



  • 5.  RE: Lease Accounting software recommendations

    Posted 5 days ago

    Our firm has partnered with LeaseQuery to assist our existing and prospective clients with transition and ongoing accounting under ASC 842. If you'd like more information, just let me know. We have a dedicated lease team that vetted several software solutions.

     

    https://leasequery.com/partner-demo-request-lbmc/

     

    Jennifer G. Costello, CPA

    Senior Manager, Audit & Advisory

    LBMC, PC



    ------------------------------
    Jennifer Costello CPA
    Senior Manager
    LBMC, PC
    Brentwood TN
    (615) 309-2731
    ------------------------------