LeaseCrunch Reviews & Pricing

by LeaseCrunch | Founded 2016, Milwaukee, Wisconsin

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What is LeaseCrunch?

Industry Specialties: Serves all industries.

LeaseCrunch is a sophisticated software solution designed to streamline lease accounting tasks, making it particularly beneficial for organizations that need to comply with complex lease accounting standards. The platform is most suited for accounting firms and businesses with extensive lease portfolios, as it simplifies the process of managing lease data, generating accurate financial reports, and ensuring compliance with ASC 842, IFRS 16, and GASB 87 standards.

One of the key advantages of LeaseCrunch is its user-friendly interface, which allows for easy data entry and management. The software automates calculations, reducing the risk of human error and saving significant time. Popular features include automated journal entries, lease classification, and comprehensive reporting capabilities. Users appreciate the platform's ability to handle both real estate and equipment leases, providing a versatile solution for various industries.

In terms of pricing, LeaseCrunch typically operates on a per-unit basis, with costs varying depending on the number of leases managed. Payment frequency can be customized to fit the needs of the organization, whether monthly or annually. For precise pricing details, it is recommended to contact SelectHub for a tailored quote based on specific requirements.

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User Sentiment

Based on 20 reviews:

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LeaseCrunch Pricing

Based on our most recent analysis, LeaseCrunch pricing starts at $500 (Monthly, Usage-Based).

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Starting From: $500
Pricing Model: Monthly, Usage-Based
Free Trial: Yes, Request for Free

Training Resources

LeaseCrunch is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for LeaseCrunch:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

LeaseCrunch Benefits and Insights

Why use LeaseCrunch?

Key differentiators & advantages of LeaseCrunch

Time Savings: Automate complex lease accounting tasks, reducing the time spent on manual calculations and data entry.
Accuracy: Minimize errors with built-in compliance checks and automated calculations, ensuring precise financial reporting.
Compliance: Stay up-to-date with the latest FASB, GASB, and IFRS standards, reducing the risk of non-compliance penalties.
Scalability: Easily manage a growing portfolio of leases without a proportional increase in workload, thanks to scalable software architecture.
Audit Readiness: Generate detailed audit trails and comprehensive reports, simplifying the audit process and enhancing transparency.
Cost Efficiency: Reduce the need for additional staff or external consultants by streamlining lease accounting processes in-house.
Data Centralization: Consolidate all lease data in a single platform, improving data accessibility and decision-making capabilities.
Custom Reporting: Create tailored reports to meet specific business needs, providing valuable insights for strategic planning.
Integration: Seamlessly integrate with existing ERP systems, ensuring smooth data flow and reducing duplication of efforts.
User-Friendly Interface: Simplify user adoption with an intuitive interface, reducing the learning curve and increasing productivity.
Security: Protect sensitive financial data with robust security measures, including encryption and access controls.
Support and Training: Benefit from comprehensive support and training resources, ensuring effective use of the software.
Flexibility: Adapt to changing business needs with customizable settings and flexible lease management options.
Environmental Impact: Reduce paper usage and physical storage needs by digitizing lease documents and processes.
Enhanced Collaboration: Facilitate better collaboration among team members with shared access to up-to-date lease information.

Industry Expertise

LeaseCrunch is a cloud-based solution designed for small to large certified public accountant (CPA) firms. This software specializes in lease accounting and helps firms automate calculations and manage leases in accordance with various accounting standards, making it ideal for CPA firms looking to streamline their lease accounting processes.

LeaseCrunch Reviews

Average customer reviews & user sentiment summary for LeaseCrunch:

20 reviews

92%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of LeaseCrunch reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

User-Friendly Interface: Users praise LeaseCrunch for its intuitive design, making it easy to navigate and use, even for those unfamiliar with lease accounting software.
ASC 842, IFRS 16, GASB 87 Compliance: The software effectively addresses the complexities of new lease accounting standards, simplifying the transition and ensuring compliance.
Strong Customer Support: Users highlight the helpfulness and responsiveness of LeaseCrunch's customer support team, which provides reliable assistance when needed.
Efficient Implementation: LeaseCrunch is commended for its straightforward implementation process, allowing organizations to get the software up and running quickly.
Accurate Reporting: The software generates accurate and comprehensive reports, simplifying lease accounting and auditing processes.

Cons

Software Glitches: Users occasionally encounter bugs and glitches within the software.
Limited Customization: Businesses with unique needs may find the software's customization options restrictive.
High Cost: LeaseCrunch's pricing can be a barrier to entry, especially when compared to some of its competitors.

Researcher's Summary:

Is LeaseCrunch the 'accountant' you need for your lease management woes? User reviews from the last year suggest it could be a valuable asset. Customers rave about LeaseCrunch's user-friendly interface, which simplifies the often-dreaded task of lease accounting, particularly for those grappling with the complexities of ASC 842, IFRS 16, and GASB 87. Think of it as having a trusty calculator that does the heavy lifting for you, spitting out accurate amortization schedules and journal entries without breaking a sweat. However, like any good accountant, there's always room for improvement. Some users have reported occasional bugs and a desire for greater customization options, suggesting that LeaseCrunch could benefit from a bit more flexibility in its approach. While the software shines in its core functionality, a handful of users have expressed that customer support could be more proactive, leaving them feeling a tad lost at times. Overall, LeaseCrunch proves to be a valuable tool for organizations seeking to streamline their lease accounting processes. Its intuitive design, automated calculations, and comprehensive reporting make it a strong contender in the market. That being said, potential users should carefully crunch the numbers and ensure that LeaseCrunch aligns with their specific needs, particularly if advanced customization is a top priority.

Key Features

Notable LeaseCrunch features include:

Automated Lease Calculations: Automatically calculates lease liabilities and right-of-use assets, reducing manual errors.
Compliance with ASC 842, IFRS 16, and GASB 87: Ensures adherence to the latest lease accounting standards, simplifying regulatory compliance.
Centralized Lease Repository: Stores all lease agreements in a single, easily accessible location, enhancing organization and retrieval.
Lease Modification Tracking: Tracks changes to lease terms and conditions, ensuring accurate financial reporting.
Journal Entry Generation: Automatically generates journal entries for lease transactions, streamlining the accounting process.
Customizable Reporting: Offers a variety of customizable reports, including disclosure reports and roll-forward schedules, to meet specific business needs.
Integration with ERP Systems: Seamlessly integrates with major ERP systems like SAP and Oracle, facilitating data synchronization.
Audit Trail: Maintains a comprehensive audit trail of all lease-related activities, supporting transparency and accountability.
Multi-Currency Support: Handles leases in multiple currencies, accommodating global operations.
Lease Classification: Automatically classifies leases as operating or finance, based on the latest accounting standards.
Data Import and Export: Allows for easy import and export of lease data, enhancing data management and sharing capabilities.
User Permissions and Roles: Provides granular control over user access and permissions, ensuring data security and compliance.
Scenario Analysis: Enables users to perform what-if analyses on lease portfolios, aiding in strategic decision-making.
Lease Renewal and Termination Management: Tracks lease renewals and terminations, ensuring timely actions and accurate financial records.
Cloud-Based Platform: Offers a cloud-based solution, providing accessibility from anywhere with an internet connection.
Customer Support: Provides dedicated customer support to assist with any issues or questions, ensuring smooth operation.