LeaseQuery Acquires Crowe Lease Accounting Optimizer, Lease Accounting Solution Built for NetSuite, From Crowe LLP

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This acquisition gives NetSuite prospects with a LeaseQuery alternative for lease accounting compliance, immediately inside NetSuite.

ATLANTA, May possibly 03, 2022–(Business WIRE)–LeaseQuery, a top service provider of software developed to simplify the complexities of accounting, nowadays announced its acquisition of Crowe Lease Accounting Optimizer (CLAO), a main company of lease accounting for NetSuite buyers. Crowe LLP, a community accounting, consulting and technological know-how firm in the U.S. with offices all-around the planet, made the technological know-how remedy to aid providers manage their lease accounting processes proficiently though promoting compliance with lease accounting standards. The option will be shown as LeaseQuery for NetSuite, successful immediately.

The acquisition delivers a strategic prospect for LeaseQuery to expand its existing lease accounting capabilities and expertise though providing supplemental value to present NetSuite shoppers complying with the ASC 842 and IFRS 16 lease accounting standards.

“LeaseQuery for NetSuite will deliver the NetSuite community with a CPA-authorized lease accounting remedy created completely in the SuiteCloud platform,” claimed George Azih, LeaseQuery founder and CEO. “At the scale and complexity of lease accounting currently, LeaseQuery for NetSuite is the cornerstone of simplified accounting and compliance facilitation for NetSuite end users.”

“Crowe has a extensive background of setting up hugely specialised electronic accounting and consulting alternatives on the engineering platforms that buyers are currently relaxed with like NetSuite,” mentioned Josh Cole, handling principal of the consulting group at Crowe. “This relationship with LeaseQuery is an significant stage in the progress and enlargement of Crowe’s NetSuite services and will make it possible for an even broader client base to harness their lease info to automate document preserving and compliance.”

This acquisition by LeaseQuery is element of the company’s in general investment in building a system for elaborate lease accounting. LeaseQuery for NetSuite will make it possible for its consumers to do the next within just the SuiteApp:

  • Transition the lease portfolio to the ASC 842 or IFRS 16 lease accounting criteria

  • Estimate ROU property

  • Create amortization schedules

  • Speedily crank out precise journal entries

  • Classify leases as finance or operating

  • Centrally retailer lease management facts

  • Seamlessly integrate with the company’s chart of accounts, currencies, vendors, departments, courses and destinations

  • Difficulty payments straight to the lessor from NetSuite

“Crowe Lease Accounting Optimizer has been a leader in encouraging NetSuite ERP users automate compliance with the new lease accounting specifications,” explained Azih. “Signing up for LeaseQuery as a focused lease accounting device for NetSuite gives an unprecedented possibility to extend the electrical power of NetSuite ERP and again this exceptional providing with field-primary accounting skills.”

Crowe will go on to guidance the Crowe Lease Accounting Optimizer for its existing consumers and give other digital accounting solutions that complement NetSuite. Crowe is also uniquely positioned to support LeaseQuery’s client base utilize the new options of LeaseQuery for NetSuite.

To understand much more about LeaseQuery for NetSuite, click on listed here.

About LeaseQuery
LeaseQuery makes accountants’ lives a lot easier by simplifying the sophisticated with know-how. Far more than 28,000 economic industry experts globally count on our cloud-based mostly, CPA-authorised answers and in-property accounting know-how to comply with confidence throughout a variety of FASB, GASB and IASB accounting specifications. Our computer software helps enterprises decrease threat, increase effectiveness and cut down fees. Master much more about LeaseQuery’s main accounting answers, which concentration on easing required compliance underneath ASC, IFRS and GASB restrictions, or check out supplemental accounting resources. For a lot more information and facts, check out LeaseQuery.com.

About Crowe
Crowe LLP is a public accounting, consulting and technology agency with places of work close to the environment. Crowe utilizes its deep market experience to give audit providers to community and private entities. The firm and its subsidiaries also help clientele make sensible choices that direct to long lasting worth with its tax, advisory and consulting expert services. Crowe is recognized by quite a few companies as one particular of the ideal destinations to do the job in the U.S. As an independent member of Crowe Global, just one of the major world wide accounting networks in the world, Crowe serves consumers around the globe. The network is made up of additional than 200 impartial accounting and advisory expert services firms in much more than 130 nations around the world all-around the globe.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220503005458/en/

Contacts

Rebeca Berger
The Bliss Group
212-600-2587
[email protected]

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