Accounting program company LeaseQuery announced it has obtained Major 15 Company Crowe’s Crowe Lease Accounting Optimizer system, which will now be identified as LeaseQuery for Netsuite.
Manufactured exclusively to support firms with the new GAAP and IFRS lease benchmarks, the system enables NetSuite customers to:
- Transition their lease portfolio to ASC 842 or IFRS 16 benchmarks
- Work out ROU belongings
- Produce amortization schedules
- Make journal entries
- Classify leases as finance or working, as per benchmarks
- Centrally shop lease administration data and,
- Challenge payments specifically to the lessor from NetSuite.
The system is also meant to combine with a firm’s chart of accounts, currencies, suppliers, departments, courses and areas.
The acquisition is element of LeaseQuery’s more substantial objective of producing a platform for complicated lease accounting.
“Crowe Lease Accounting Optimizer has been a chief in supporting NetSuite ERP users automate compliance with the new lease accounting benchmarks,” mentioned LeaseQuery CEO George Azih in a assertion. “Joining LeaseQuery as a focused lease accounting instrument for NetSuite offers an unprecedented possibility to lengthen the electrical power of NetSuite ERP and back this one of a kind offering with market-major accounting knowledge.”
Whilst now owned by LeaseQuery, Crowe will continue on to aid the platform for its present buyers and offer other electronic accounting alternatives that complement NetSuite.