10+ Best Lease Accounting Software to Cut Audit Risks & Empower Your Decisions

FinQuery, formerly LeaseQuery, is a lease accounting solution for companies needing flexible compliance tools and broad ERP compatibility. It supports multiple accounting standards including ASC 842, GASB 87, GASB 96, IFRS 16, SFFAS 54, and FRS 102, and includes functionality for dual standard reporting, custom calendars, and variable payments.

Built by accountants, FinQuery aims to reduce manual work, increase data accuracy, and simplify month-end close by automating amortization schedules, journal entries, and disclosure reports. It centralizes lease documentation and offers real-time dashboards for tracking lease terms, payments, and critical dates.

LeaseAccelerator is a comprehensive lease lifecycle automation platform for large enterprises managing extensive real estate and equipment leases. It streamlines compliance with ASC 842, IFRS 16, and GASB 87 by automating lease accounting processes and centralizing lease data from contract initiation to termination.

The software eliminates manual workload by calculating lease liabilities, right-of-use assets, and amortization schedules, ensuring precise financial reporting and audit readiness. It offers extensive reporting, analytics, and seamless integration with over 140 ERP and EPM systems, enhancing data flow and integrity.

Visual Lease is a lease optimization software providing a single source of truth for real estate and equipment portfolios. It ensures compliance with lease accounting standards like ASC 842 and IFRS 16, and also supports ESG reporting requirements.

The platform integrates lease management, accounting, and sustainability reporting, helping organizations save time, mitigate risks, and reduce costs. It is highly configurable, allowing you to capture specific nuances, set up workflows, and pivot as your business needs evolve.

Trullion is an AI-powered software that automates lease accounting and compliance for ASC 842, IFRS 16, and FRS 102. It helps finance professionals, controllers, and auditors manage leases with real-time automation and clear audit trails.

The platform enables users to upload lease contracts in PDF or Excel, with AI extracting key details like names, dates, and payments. It instantly calculates IBR across various regions, asset types, and currencies, and generates audit-ready journal entries and disclosure reports.

MRI Software provides a comprehensive suite of real estate solutions, including lease accounting. While specific dedicated lease accounting features are not as prominently highlighted as a standalone product on its main domain, MRI offers robust property and financial management tools that support lease obligations.

Its broader platform capabilities include detailed financial reporting, budgeting, and forecasting, which are crucial for managing lease liabilities and right-of-use assets. For organizations already using MRI for property management, its integrated functionalities streamline the complex requirements of lease accounting. No specific product named 'MRI Lease Accounting' was found as a standalone offering.

Nakisa Lease Accounting is an AI-powered, cloud-native software for global lessees and lessors managing large, complex lease portfolios. It centralizes lease-related data and automates abstraction, administration, accounting, compliance, and reporting.

The software ensures parallel compliance with IFRS 16, ASC 842, and local GAAP, offering native bidirectional integration with SAP, Oracle, and Workday. It provides robust dashboard functionality for managing leasing data, pre-built insights into critical areas, and customizable dashboards.

EZLease is a cloud lease accounting solution designed for fast, simple, and secure compliance with ASC 842, IFRS 16, GASB 87, and GASB 96 standards. It eliminates manual processes, offering an 85% reduction in due diligence and accelerating month-end close through automated validations and GL integration.

The software handles both real estate and equipment leases for lessees and lessors, providing a centralized lease database, automated validation, and push-button accounting and disclosure reporting. It supports bulk uploads, customizable fields, and real-time visibility, reducing errors and compliance risks.

Crunchafi Lease Accounting, formerly LeaseCrunch, simplifies lease accounting for ASC 842, GASB 87, GASB 94, GASB 96, and IFRS 16. It offers guided steps for lease data input and calculating adjusting entries, providing audit-ready deliverables in minutes.

Designed for CPA firms and their clients, Crunchafi features dual-access functionality for seamless collaboration and offers annual SOC 1 Type II and SOC 2 Type II reports for financial reporting assurance. It streamlines processes, reduces manual work, and ensures consistent, compliant outputs.

CoStar Manager is part of the broader CoStar Group, a leading provider of commercial real estate information, analytics, and online marketplaces. While CoStar is known for its extensive real estate data, CoStar Manager focuses on property and lease management. It helps organizations streamline the administration of their real estate leases.

Although not solely a lease accounting software, its capabilities in lease abstraction, critical date tracking, and document management are essential for supporting ASC 842 and IFRS 16 compliance. Organizations leveraging CoStar's ecosystem can benefit from integrated property and lease data for their accounting needs.

NetLease is a NetSuite-native lease accounting solution that automates compliance with ASC 842 and other standards directly within your ERP. This direct integration eliminates the need for external connectors or duplicate data entry, ensuring real-time reporting and journal entries without leaving the NetSuite environment.

It offers automated journal entries, customizable workflows, and real-time reporting, making it ideal for accounting teams that want a fully embedded lease accounting tool. NetLease also provides a variety of audit-ready reports, such as amortization schedules, journal summaries, and disclosure reports.