Accounting software program supplier LeaseQuery introduced it has acquired High 15 Agency Crowe’s Crowe Lease Accounting Optimizer platform, which can now be referred to as LeaseQuery for Netsuite.
Made particularly to assist corporations with the brand new GAAP and IFRS lease requirements, the platform permits NetSuite customers to:
- Transition their lease portfolio to ASC 842 or IFRS 16 requirements;
- Calculate ROU property;
- Produce amortization schedules;
- Generate journal entries;
- Classify leases as finance or working, as per requirements;
- Centrally retailer lease administration info; and,
- Difficulty funds on to the lessor from NetSuite.
The platform can also be meant to combine with an organization’s chart of accounts, currencies, distributors, departments, courses and places.
The acquisition is a part of LeaseQuery’s bigger purpose of growing a platform for advanced lease accounting.
“Crowe Lease Accounting Optimizer has been a pacesetter in serving to NetSuite ERP customers automate compliance with the brand new lease accounting requirements,” mentioned LeaseQuery CEO George Azih in an announcement. “Becoming a member of LeaseQuery as a devoted lease accounting instrument for NetSuite offers an unprecedented alternative to increase the ability of NetSuite ERP and again this distinctive providing with industry-leading accounting experience.”
Whereas now owned by LeaseQuery, Crowe will proceed to assist the platform for its present clients and supply different digital accounting options that complement NetSuite.