LeaseGuru, powered by LeaseQuery—a provider of comprehensive lease accounting software to more than 1,000 companies—announced its recognition on Accounting Today’s 2020 list: The 2020 Top New Products.
The annual list spotlights new accounting products representing innovation from all directions, whether it’s in technology or areas of accounting that have been sidelined in the past. The accounting industry is turning to technology more and more to help meet accountants’ needs for changing standards, business models and client demands. Those ranked on Accounting Today’s list solidify the essence of how technology drives the accounting profession forward and enables accounting professionals to broaden their services provided.
Released this year, LeaseGuru’s cloud-based solution enables businesses with smaller lease portfolios across the U.S. and internationally to accurately and cost-effectively run reports for FASB ASC 842 and IASB IFRS 16 and make changes to leases at any stage. Based on Accounting Today’s analysis, what sets LeaseGuru apart is the fact that it’s aimed at businesses with relatively small lease portfolios while still offering major features, including detailed amortizations schedules, ledger-agnostic journal entries and tested calculations and the ability to run disclosure reports required by the new standard.
“We are honored to have LeaseGuru be recognized on Accounting Today’s 2020 Top New Products List during its first year of deployment,” said George Azih, LeaseQuery CEO and founder. “LeaseGuru is a strategic offering and substantial focus for LeaseQuery, in line with the belief that the new standards are too complex for basic spreadsheets, even for the smallest lease portfolios. Designed to stand by our commitment to making accountants’ lives easier, LeaseGuru has become one of the top lease accounting solutions to facilitate compliance for small businesses, and we are grateful to our customers, partners and colleagues who have been on this exciting product development journey with us.”